Make sure you get possible Nationwide Fairer Share bonus 2025

where_are_we

There has been no confirmation that Nationwide will pay out a Fairer Share bonus in 2025.

However there is a good chance it will happen.

Make sure you are not one of the many Nationwide customers complaining that you did not qualify!

You can search the full 2024 T&C`s and the 2025 T&C`s may or may not be similar.

Action is required - if T&C`s don`t change you need a qualifying current account open on March 31 2025

For Flex Account, Flex Direct and Flex Basic

In two of the three months of January 2024, February 2024 and March 2024, you must:

• have received at least £500 into your current account (transfers in from other Nationwide accounts do not count), and
• have made at least two payments out of your current account.

OR

• In two of the three months of January 2024, February 2024 and March 2024, you must have made at least 10 payments out of your current account.

Also you will have to have had qualifying savings of least £100 in total in one or more personal savings accounts or cash ISAs with Nationwide at the end of any day in March 2024.

These are not the full T&C`s. There are other caveats for Flex Plus, Flex One, Flex Student and  Flex Graduate and also Nationwide mortgage holders.

In case the 2025 T&C`s are more onerous I intend to put in £1000 (not £500 as for 2024) into my Flex Account  and then immediately take out 3 (not 2 as for 2024) payments totalling £1000. I will do this in all 3 months (not 2 out of 3 months) of January February and March 2025.

It is probably not necessary to implement the above changes I have made but it is not much more work.

I have their Flex RS3 @6.5% to fulfill the qualifying savings part of the T&C`s.

Finally check out  Nationwide`s 2025 T&C`s once they are formally announced.

WillPS

Worth noting that anybody who CASS'd in during January, February or March was considered as holding a qualifying current account in previous years, even if they didn't meet the other conditions. (You did still need a qualifying mortgage or savings account as well though.)

Might be worth considering as a bit of insurance, if you have a donor available. 

Slinky

My OH and I have a joint Flex account, and I have a regular saver. I also have a Flex account in my own name which I don't use. We didn't qualify last year.  Am I best off funding/paying out of the joint account or the individual account or both do you think?

zagfles

Slinky said:

My OH and I have a joint Flex account, and I have a regular saver. I also have a Flex account in my own name which I don't use. We didn't qualify last year.  Am I best off funding/paying out of the joint account or the individual account or both do you think?

Joint probably as that would count for both of you, or at least IIRC it did last time. 

If your OH doesn't have an individual account then if they qualify their bonus would be paid into the joint account and would therefore count as joint interest for both of you, which may be an issue eg if they have spare allowance/PSA and you don't. ISTR people complaining about this last time. If it is they could open a solo account. 

Slinky

zagfles said:

Slinky said:

My OH and I have a joint Flex account, and I have a regular saver. I also have a Flex account in my own name which I don't use. We didn't qualify last year.  Am I best off funding/paying out of the joint account or the individual account or both do you think?

Joint probably as that would count for both of you, or at least IIRC it did last time. 

If your OH doesn't have an individual account then if they qualify their bonus would be paid into the joint account and would therefore count as joint interest for both of you, which may be an issue eg if you're a taxpayer and they're not. ISTR people complaining about this last time. If it is they could open a solo account. 

He doesn't have a savings account though, so wouldn't qualify in that respect. He's a higher rate taxpayer and I'm a non taxpayer, so our savings are mostly in my name apart from a few to get him £500 interest.

zagfles

Slinky said:

zagfles said:

Slinky said:

My OH and I have a joint Flex account, and I have a regular saver. I also have a Flex account in my own name which I don't use. We didn't qualify last year.  Am I best off funding/paying out of the joint account or the individual account or both do you think?

Joint probably as that would count for both of you, or at least IIRC it did last time. 

If your OH doesn't have an individual account then if they qualify their bonus would be paid into the joint account and would therefore count as joint interest for both of you, which may be an issue eg if you're a taxpayer and they're not. ISTR people complaining about this last time. If it is they could open a solo account. 

He doesn't have a savings account though, so wouldn't qualify in that respect. He's a higher rate taxpayer and I'm a non taxpayer, so our savings are mostly in my name apart from a few to get him £500 interest.

He could open a token one and put £100 or bit more in it. Even for a HR taxpayer the 6.5% "regular saver" is reasonable value after 40% tax. You don't need to save regularly in it, you could just make a one off deposit of up to £200. 

surreysaver

Even though the first £50 of the overdraft is 0%, I'm not risking stoozing it, in case they add a requirement the current account must remain at or above £0

PRAISETHESUN

WillPS said:

Worth noting that anybody who CASS'd in during January, February or March was considered as holding a qualifying current account in previous years, even if they didn't meet the other conditions. (You did still need a qualifying mortgage or savings account as well though.)

Might be worth considering as a bit of insurance, if you have a donor available. 

I've initiated a switch from Chase, no DDs but a token balance so I can see when the switch completes. A small safety net in case they change the requirements from the last few years

pecunianonolet

You can always buy a banana or apple at a self checkout till at the supermarket of your choice and pay using the debit card and you have a proper transaction and a healthy snack too ;-)

gary1312

where_are_we said:

There has been no confirmation that Nationwide will pay out a Fairer Share bonus in 2025.

However there is a good chance it will happen.

Make sure you are not one of the many Nationwide customers complaining that you did not qualify!

You can search the full 2024 T&C`s and the 2025 T&C`s may or may not be similar.

Action is required - if T&C`s don`t change you need a qualifying current account open on March 31 2025

For Flex Account, Flex Direct and Flex Basic

In two of the three months of January 2024, February 2024 and March 2024, you must:

• have received at least £500 into your current account (transfers in from other Nationwide accounts do not count), and
• have made at least two payments out of your current account.

OR

• In two of the three months of January 2024, February 2024 and March 2024, you must have made at least 10 payments out of your current account.

Also you will have to have had qualifying savings of least £100 in total in one or more personal savings accounts or cash ISAs with Nationwide at the end of any day in March 2024.

These are not the full T&C`s. There are other caveats for Flex Plus, Flex One, Flex Student and  Flex Graduate and also Nationwide mortgage holders.

In case the 2025 T&C`s are more onerous I intend to put in £1000 (not £500 as for 2024) into my Flex Account  and then immediately take out 3 (not 2 as for 2024) payments totalling £1000. I will do this in all 3 months (not 2 out of 3 months) of January February and March 2025.

It is probably not necessary to implement the above changes I have made but it is not much more work.

I have their Flex RS3 @6.5% to fulfill the qualifying savings part of the T&C`s.

Finally check out  Nationwide`s 2025 T&C`s once they are formally announced.

Thank you for this - I missed out last year as my FlexBasic sat there year with its £1 balance. 1K a month transferred in with a few debit card payments here and there isn't much work for that (possible) return.

tg99

Wonder if they may introduce a requirement for one or more direct debits……I may set up a couple just incase.