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

ForumUser7

Beddie said:

It's for their proper customers who use them for their main banking. It's not for the vultures who try to grab what they can and run. Like us... 

As @beddie says ~ Nationwide Building Society is continuing to reinvest its profit for the benefit of its members as the mutual launches Nationwide Fairer Share – a new reward for members with the deepest relationships.

xylophone

It's for their proper customers who use them for their main banking.

Isn't a long term savings member a "proper customer"?

poppystar

Well, I have a Loyalty Saver a/c with them ….which pays very low interest compared to other providers and no more than their own newer limited access account. I haven’t recently paid any extra money in. So where is the reward for loyalty over many years? This payout is a gimmick that betrays a whole swathe of their really loyal customers. 

Don’t give one off payments to a few but give ongoing better interest to all. Nationwide I’m off elsewhere! 

pearl123

refluxer said:

Based on those headline criteria statements above, I'd presumed I'd be eligible but, according to Nationwide's own eligibility checker, it would appear there's a bit more to it than simply holding the current account...

Between 1 January and 31 March 2023, did you pay in a minimum of £500 for at least 2 of the months? Transfers in from other Nationwide accounts do not count.

On that basis, despite holding many different accounts with them for both myself (including a current account, regular savers, ISAs etc) and my kids for at least a decade or so, I don't qualify. 

Like you, I'm not impressed.

I'm a fifteen year  member of Nationwide. One current account and a two savings account. Held many savings accounts over the years. I don't qualify. 
I think, if they get enough members complaining they might  change their terms. It's worth a try. I intend to write to them in the next three weeks. 

Mr_blibby

4 members in the family ...2 cash ISA, 2 Help to Buys ISAs, 3Flexaccounts, many savings accounts (cashbuilders, loyalty bonds, online savers) collectively easily over £120k with them, been members for over 105 years collectively........only one of us qualifies... tell you a lot of how they measure loyalty     .....also a lot of those account set up before they started adding the carpetbaggers clauses on new account openings, so I know which way I'll be voting if it ever comes up

Kaizen917

I had it show up on my app this morning so was a bit surprised about it(but in a good way ofc). Hopefully that implies I meet the criteria but havent thoroughly checked.

ForumUser7

Kaizen917 said:

I had it show up on my app this morning so was a bit surprised about it(but in a good way ofc). Hopefully that implies I meet the criteria but havent thoroughly checked.

https://forums.moneysavingexpert.com/discussion/comment/80060314/#Comment_80060314 - if you click through to the article in this post, it says it counts

"The building society says it'll contact those eligible to let them know by 26 May. If you're registered for online or app banking, you should get a notification when you log in to confirm you'll be getting the reward. We've asked Nationwide how it'll notify those who don't use online or app banking and we'll update this story when we know more."

andyhicks88

Will this be a yearly thing? That will certainly be an incentive to join. 

ForumUser7

andyhicks88 said:

Will this be a yearly thing? That will certainly be an incentive to join. 

https://forums.moneysavingexpert.com/discussion/comment/80059904/#Comment_80059904

isasmurf

As my 25 year custom is not valued by them I've moved all available money out and accounts closed. The remainder will be moved on maturity.

It isn't very good business to insult your customers.