£100 payment - Nationwide Fairer Share

Bridlington1

ForumUser7 said:

older_wiser said:

no message on logging in so i assume i won't qualify. 

i have two nationwide current accounts and a help to buy isa with nationwide 

the current accounts will qualify but i don't believe the help to buy isa is a cash isa is it its a hybrid 

i have a stocks and shares isa with HL so the nationwide HTB isa can't be classed the same hmmm

Halifax says 'The Help to Buy: ISA is a cash ISA...' ~ https://www.halifax.co.uk/isas/cash-isas/help-to-buy-isa.html

Nationwide says they will contact eligible customers before 26th May, so if you don't hear, maybe get in contact with them.

A few of them did do split ISAs, one of which was Nationwide, allowing you to pay into both the H2B ISA and a normal cash ISA in the same tax year.

Albermarle

King_Of_Fools said:

Whilst the £100 is a nice gesture, they have obviously made a lot of profit over the last year and I would rather they just increased their saving interest rates like Yorkshire have been doing.

Next year, there will be loads of people trying to guess what the eligibility rules might be and trying to milk the £100 with the minimum cost, so it will not actually be rewarding members fairly!

I have not got 100% proof but it seems to me that the Nationwide has been more competitive recently. More back to the way it used to be with good if not table topping rates. Certainly not bad rates for a big player.
They have a new offer for a 2 year fix of 4.75% ( YBS 4.05%)
YBS easy access rates are better though.

throughtheblue

I had an email to say I'd receive, but not my partner. She has a current account, with monthly full-time wage going in, as well as Help To Buy ISA, with £200 going in each month. The only difference is I have regular saver, but had moved most the money out before March 2023, as well as a credit card. I presume she will be eligible?

ForumUser7

King_Of_Fools said:

...Next year, there will be loads of people trying to guess what the eligibility rules might be and trying to milk the £100 with the minimum cost, so it will not actually be rewarding members fairly!

I was fortunate enough to be eligible, but I am considering keeping at least £100 in total across all building societies I hold accounts with, on the off chance they do something similar. It feels unlikely though, especially at the smaller ones like Penrith.

I got a message in OB confirming eligibility, but no email - perhaps that'll follow

Sarahspangles

My young adult kids just messaged - one had the email saying it was coming, and the other has had a confirmation message in the App. We’ve got that too.

I’ve reminded them who advised them to use Nationwide for their student accounts!

WillPS

Seems like a very inequitable way of sharing profits tbh. I don't mind not receiving anything because I haven't used the accounts in any real sense since they withdrew the free travel insurance, but it puts me off using them for anything because I might not meet a mystery set of conditions which will only be revealed after the fact.

flaneurs_lobster

WillPS said:

Seems like a very inequitable way of sharing profits tbh. I don't mind not receiving anything because I haven't used the accounts in any real sense since they withdrew the free travel insurance, but it puts me off using them for anything because I might not meet a mystery set of conditions which will only be revealed after the fact.

Please suggest a more equitable profit share method. Maybe they'll take it up next year.

Becles

Does anyone know what happens if you have two current accounts? 

I'm freelance so I don't get a fixed salary and get random payments throughout the month. 

In current account one, income from working has been trickling in throughout May. On the last day of May, I'll transfer it into current account two which is where my June bill payments and spending comes out of. 

Nothing gets paid from current account one and current account two is only funded by the internal transfer. 

I do have savings with them too. 

I've not had any notifications or emails.

I've been a customer for over 30 years now so it would be frustrating to lose out because of the way I budget. 

Section62

flaneurs_lobster said:

WillPS said:

Seems like a very inequitable way of sharing profits tbh. I don't mind not receiving anything because I haven't used the accounts in any real sense since they withdrew the free travel insurance, but it puts me off using them for anything because I might not meet a mystery set of conditions which will only be revealed after the fact.

Please suggest a more equitable profit share method. Maybe they'll take it up next year.

I doubt it, unless there is a social media meltdown over the inequity.

We aren't allowed to talk about it, but I know more equitable methods were suggested to Nationwide before the final scheme was announced.

MSE_Petar

Hi everyone,

Thanks for the discussion.

Just to note we've published an MSE News story about this which you can read here: Nationwide to pay loyal customers £100 each – here's who qualifies and when you'll get the cash

Thanks,
MSE Petar