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Nationwide Fairer Share Payment 2024
Comments
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What do you mean 'for the most committed' - do you mean those who make a few planned limited actions in order to qualify for the £100 (assuming all members actually knowing about it) vs those members who have been with Nationwide for say 5 years or more.eskbanker said:Are you suggesting that there'd be something that would be completely fair in any objectively meaningful sense? As mentioned in an earlier post, a £25 incentive for all members would be an alternative to £100 for the most committed quarter, but either could easily be argued as fair or unfair, as could any other permutation....
I assume you are getting the payment - well done for doing very little in such a short time! Never was so much given by so many to so few.0 -
If you're suggesting that membership for five years would be fairer than rewarding those currently making significant use of the institution's products then that's just using different criteria, and obviously favouring duration of membership can easily be dismissed as unfair too.ovusa1 said:
What do you mean 'for the most committed' - do you mean those who make a few planned limited actions in order to qualify for the £100 (assuming all members actually knowing about it) vs those members who have been with Nationwide for say 5 years or more.eskbanker said:Are you suggesting that there'd be something that would be completely fair in any objectively meaningful sense? As mentioned in an earlier post, a £25 incentive for all members would be an alternative to £100 for the most committed quarter, but either could easily be argued as fair or unfair, as could any other permutation....
No, your assumption is wrong - as it happens, I've been a member for over five years and didn't qualify for the payment, but I'm not whinging about it!ovusa1 said:
I assume you are getting the payment - well done for doing very little in such a short time!10 -
Well we in year 2 of it & it's been featured on MSE & other media.ovusa1 said:
We currently have current accounts, savings accounts and credit cards. Totally unaware of the Fairer Share scheme - Nationwide have never made us aware of the criteria. Surely the interpretation of the term 'Fairer Share' should be to reward members fairly rather than a specific set of criteria.eskbanker said:
The criteria are clearly explained and relate to which products you currently have and how much use you make of them, not how long you've been a member....ovusa1 said:No reward for long term members. Been with Nationwide 51 years, had/have current accounts, savings accounts, credit cards and a couple of mortgages. In our case 'Fairer Share payment' is a big fat zero !!!!
Just by having things with nationwide doesn't mean you qualify but the qualifying criteria is easy enough to trigger the £100 payout.
Basically you need an active enough current account & a mortgage &/or savings with them
Regardless of wether or not you knew about this in the 2 years it's been going on you know now so next year you'll be ready to get the £100 should it happen next year.0 -
Quote ' rewarding those currently making significant use of the institution's products' - do you mean like 1) receive £500 for 2 out of 3 months and make 2 payments out each month, or 2) making 10 payments or 3) if you hold a FlexOne,FlexStudent or FlexGraduate account 1 payment in or out during March, or 4) if you completed a switch using the Current Account Switch Service between 1 January 2024 and 31 March 2024 there is NO requirement for receiving or making payments. Wow that is some significant use of the institution's products!eskbanker said:ovusa1 said:eskbanker said:If you're suggesting that membership for five years would be fairer than rewarding those currently making significant use of the institution's products then that's just using different criteria, and obviously favouring duration of membership can easily be dismissed as unfair too.
No, your assumption is wrong - as it happens, I've been a member for over five years and didn't qualify for the payment, but I'm not whinging about it!ovusa1 said:
I assume you are getting the payment - well done for doing very little in such a short time!0 -
Clearly it's more "significant use" of the Bank's Society's products than you made, not that you seem bitter about it.ovusa1 said:
Quote ' rewarding those currently making significant use of the institution's products' - do you mean like 1) receive £500 for 2 out of 3 months and make 2 payments out each month, or 2) making 10 payments or 3) if you hold a FlexOne,FlexStudent or FlexGraduate account 1 payment in or out during March, or 4) if you completed a switch using the Current Account Switch Service between 1 January 2024 and 31 March 2024 there is NO requirement for receiving or making payments. Wow that is some significant use of the institution's products!eskbanker said:ovusa1 said:eskbanker said:If you're suggesting that membership for five years would be fairer than rewarding those currently making significant use of the institution's products then that's just using different criteria, and obviously favouring duration of membership can easily be dismissed as unfair too.
No, your assumption is wrong - as it happens, I've been a member for over five years and didn't qualify for the payment, but I'm not whinging about it!ovusa1 said:
I assume you are getting the payment - well done for doing very little in such a short time!4 -
ACTIVE FlexDirect account for me, my money starts there then goes to Virgin (oooh imagine, lol) then in a instant access account to earn interest, back into Virgin then into my regular savings accounts, some of my money ends up going back into nationwide (after earning interest elsewhere) to pay into the savings accounts I have with them (currently a 5.5% Start To Save 2 & a 8% Regular), therefore I meet their conditions to get the £100 payment.
It's EASY to achieve, too easy if I'm honest.
People CANNOT expect a payout if they don't have an ACTIVE current account etc with them.
Surprised there's not been more people annoyed tbh.0 -
Major financial institution literally hands out free money to its customers for the second year in a row, those who miss out complain as if they've personally been victimised (also for the second year in a row). Never change, forumites.
I no longer check the forums as regularly as I used to. If you wish to catch my attention please remember to tag me (@ircE) so I get a notification.3 -
Do you reckon it would be fairer if they disclosed the criteria in advance?ovusa1 said:
We currently have current accounts, savings accounts and credit cards. Totally unaware of the Fairer Share scheme - Nationwide have never made us aware of the criteria. Surely the interpretation of the term 'Fairer Share' should be to reward members fairly rather than a specific set of criteria.eskbanker said:
The criteria are clearly explained and relate to which products you currently have and how much use you make of them, not how long you've been a member....ovusa1 said:No reward for long term members. Been with Nationwide 51 years, had/have current accounts, savings accounts, credit cards and a couple of mortgages. In our case 'Fairer Share payment' is a big fat zero !!!!0 -
But then it's not massively changed from last yeargravel_2 said:
Do you reckon it would be fairer if they disclosed the criteria in advance?ovusa1 said:
We currently have current accounts, savings accounts and credit cards. Totally unaware of the Fairer Share scheme - Nationwide have never made us aware of the criteria. Surely the interpretation of the term 'Fairer Share' should be to reward members fairly rather than a specific set of criteria.eskbanker said:
The criteria are clearly explained and relate to which products you currently have and how much use you make of them, not how long you've been a member....ovusa1 said:No reward for long term members. Been with Nationwide 51 years, had/have current accounts, savings accounts, credit cards and a couple of mortgages. In our case 'Fairer Share payment' is a big fat zero !!!!1 -
It's also worth mentioning that historically, Nationwide required £750/month to be deposited in a Flexaccount for them to consider a customer was using it as a main account and too qualify for things like free travel insurance and to open some savings accounts.
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