Nationwide's 'Fairer Share' £100 payment for eligible members

km1500

you will also get an email if you qualify 

ljayljay

Although not really bothered does all seem a bit arbitrary & divisive. Plus the bonus appears to be heavily weighted towards bank account holders rather than savers.

Both myself & wife have current & savings accounts, she qualifies & I don't because I recently reduced the payment into my account to below £500.

Of course if this becomes a regular thing it may be worth increasing payment. However, as the eligibility rules are retrospective they may be different again next time.

Personally I think they should stop all the gimmicks & just increase savings rates across the board.

I wonder how much the CEO bonus will be again this year for an organisation supposedly owned by the members.

Robin9

km1500 said:

you will also get an email if you qualify 

km1500 said:

you will also get an email if you qualify 

I this may well be generic to all customers - it does state "check eligibility".  I have Flex, FlexDirect, Saver and SAver 2 and an ISA.

Been a member since 1984 and keep all my accounts active.

Beddie

I actually think it's a great idea, even though I don't qualify - I have savings but no current account. So although I am not a beneficiary many will be - good luck to them!

ljayljay

Beddie said:

I actually think it's a great idea, even though I don't qualify - I have savings but no current account. So although I am not a beneficiary many will be - good luck to them!

Yes I bear no sour grapes & good luck to those chosen rather randomly to receive payment. In fact since I share finances with my wife I will also benefit indirectly  

However, a bit bizarre because I have been a longer term member & therefore more loyal saver than her. Just doesn't come across as a very professional way to run an organisation by rewarding some but not others on such arbitrary eligibility conditions.

Kazza242

Robin9 said:

km1500 said:

you will also get an email if you qualify 

km1500 said:

you will also get an email if you qualify 

I this may well be generic to all customers - it does state "check eligibility".  I have Flex, FlexDirect, Saver and SAver 2 and an ISA.

Been a member since 1984 and keep all my accounts active.

The e-mail I have received from Nationwide today states:

"Firstly, thank you for continuing to be a member who banks and who borrows or saves with us.

We’re delighted to confirm we will be giving you £100. This is because when we last checked on 31 March you were a member eligible for the Nationwide Fairer Share Payment. You can expect to receive the money between 13 and 30 June."

MX5huggy

I don’t frequent the mortgage board so for balance with the savers I’ll gripe here that it appears that having a £150k mortgage with them but no current account also make me a second class member. 

SevenOfNine

I've had an email, £100. We've got a joint flex plus purely for the worldwide travel insurance, & I have an ongoing ISA.  I thought this may be something to do with having been a 'member' since carpetbagging days but it seems not & doesn't seem quite 'loyalty' fair.

I've kept an a/c running for what feels like 100 years, just transferring within N/W year in, year out for poxy interest..........because you never know maybe one day they'll be 'carpetbagged' & I'll get a big fat payout!   

PS Now I'll need a lie down in a dark room, this is addling my pea brain. Husband also has an email £100, only things he has is joint flex a/c with me & we're also joint trustees for 2 Smart Limited Access a/c's for our grandsons.  Oh well, mustn't look a gift horse in the mouth, 'free' money in exchange for rubbish interest.

km1500

I went to their 'contact us' page and chose 'feedback' (didn't want to chose 'complaint') and made my views known

nbrewitt

In my Opinion for what it's worth, over the years, I think that the Nationwide has become much more like a High Street Bank than a traditional BS. For example, the trend towards making customers attend in branch to open certain types of Bonds etc. I once tried to do this and was swiftly hijacked by their Investment Manager wanting to flog me a dodgy product, as you can imagine I showed them a clean set of heels and took my money elsewhere. This morning, Nationwide grabbed the headlines with this £100 bonus which isn't exactly fair to all customers even of 25+ years standing. I can hear the Personal Finance correspondents of the newspapers sharpening their pencils and I've got a feeling there might be a bit of negative press on this decision.