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

Kaizen917

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!

ill be a bit contrarian here since I qualify but not quite sure if its a great idea or not.

Leaving aside how I could have easily not qualified for one of the criteria by simply not knowing this is gonna happen, I feel they could have simply gone for bringing out more competitive rates or other product perks. That way whoever benefits would know what criteria to meet etc.

They could be onto something though if they do some kind of yearly bonus to incentivise longer term loyalty by meeting certain criteria over the year. This can be in same way that for instance my Halifax account pays £5 monthly for meeting some over the previous month.

Rudyson

Dear Nationwide, Thank you very much for my totally unexpected bonus, but it appears 'No good deed goes unpunished'

pearl123

It's quite ironic they're calling it a Fairer Share. Not fair at all, that some Nationwide members are missing out. 

Section62

Rudyson said:

Dear Nationwide, Thank you very much for my totally unexpected bonus, but it appears 'No good deed goes unpunished'

Of course many people who got the payment will be happy.

Those who didn't, and some of those who did, will feel the way the money is distributed falls short of a "good deed".

Albermarle

Leaving aside how I could have easily not qualified for one of the criteria by simply not knowing this is gonna happen, I feel they could have simply gone for bringing out more competitive rates or other product perks. That way whoever benefits would know what criteria to meet etc

Compared to other big players in the markets, some of their current savings rates are pretty good, although not as high of course of some much smaller players, who do not have to pay for branches etc 

They used to say their interest rates would not be top of the market but would be consistently 'good' .This has not happened in recent years, but more recently they seem to be getting back on track with good if not the best rates, for some products anyway.

Also the only bank/BS left in our town with a branch, after 5 others closed.

angela110660

Wooo just got my email about it! What a lovely surprise.

BooJewels

Slightly disappointed to just miss out - although not as badly as some long term members who have much more business with them than me - which does seem rather unfair. 

If I'd done one recent transaction slightly differently, I would have qualified.  The extra five minutes effort would have been well worth it.  Had I known.  Although I got £3.65 cashback on some shopping that didn't appear to qualify, so did get a wee unexpected recent bonus.

Rudyson

Section62 said:

Rudyson said:

Dear Nationwide, Thank you very much for my totally unexpected bonus, but it appears 'No good deed goes unpunished'

Of course many people who got the payment will be happy.

Those who didn't, and some of those who did, will feel the way the money is distributed falls short of a "good deed".

As this appears to be going to be an annual thing, will those who didn't qualify this time refuse to go for it in future, or consider it a good incentive?

Ocelot

pearl123 said:

It's quite ironic they're calling it a Fairer Share. Not fair at all, that some Nationwide members are missing out. 

Apparently only 15% or so of customers will receive the bonus. Not me either.

IvanOpinion

Absolutely disgusted, no real recognition of loyalty.
I have had 8p in my Nationwide current account for almost 23 years now.
I will be withdrawing it, plus all interest, at the weekend and if it causes the Nationwide to collapse with large job losses then 'tough'.