Big Nationwide Thank You

apt

I don't expect the Fairer Share criteria to change. Probably the reason for two separate payments is to avoid creating an expectation for £150 fairer share payments in following years.

WillPS

apt said:

I don't expect the Fairer Share criteria to change. Probably the reason for two separate payments is to avoid creating an expectation for £150 fairer share payments in following years.

Agreed, it also creates two marketing opportunities. The Fairer Share will likely continue to be determined based on whatever KPI Nationwide internally define as a loyal customer.

vacheron

I've just recieved the e-mail that my wife will be receiving £50 into our joint account. Nothing for me yet though! 

All we have is a FlexDirect joint current account, no fancy hoops requiring other products apparently.

e-mail below:

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Dear "The Wife", On 1 October 2024, we completed the purchase of Virgin Money, becoming an even stronger force in UK banking. This was made possible by the financial strength Nationwide members, like you, helped us build.   To say thank you, we are pleased to be sending you, and over 12 million of our Nationwide members, a one-off payment of £50 as part of The Big Nationwide Thank You.   You don’t need to do anything. We will send your £50 payment to your Nationwide current account by 30 April 2025. If you only have a joint account, we will send your payment there. And if we have your mobile number, we will send you a text to let you know when it is in your account.   You will still need to be a Nationwide member when we make the payment to receive it. You are a member if you bank, save or have a mortgage with us. The payment is a share of profits to our members. If, for any reason, you do not want to receive the payment, you will need to let us know by 31 March 2025. To find out more and for full terms and conditions, including details on opting out and tax treatment, visit The Big Nationwide Thank You page online.   No, this is in addition to the Fairer Share payment. We would like to make another Fairer Share payment this year, which will depend on how we perform financially. We will be able to let you know when we announce our full year results in May.   Yours sincerely,   Kevin Parry OBE Chairman

cloud_dog

Aidanmc said:

I dont see any banner on my Nationwide home page.

What is the terms to qualify?

https://www.nationwide.co.uk/about-us/the-big-nationwide-thank-you/check/

Kim_13

No email yet but there is a banner in my app confirming.

I hope they do not pay early as parent (pension age) will lose 20% of it if paid in 24/25 but none if paid in 25/26.

wiseonesomeofthetime

Kim_13 said:

No email yet but there is a banner in my app confirming.

I hope they do not pay early as parent (pension age) will lose 20% of it if paid in 24/25 but none if paid in 25/26.

I will lose 20% whether in this tax year or the next.

I saw a post somewhere where the poster claimed between 9 and 30 April for payment, but have not found any reference to that earlier date on any Nationwide correspondence yet.

slinger2

You've got until 31 March to tell them if you don't want the £50. As such it seems highly unlikely that it'll be paid until the new tax year (25/26).

HHarry

Not for me.  Only £72 in my account at the end of Sept ‘24.

£50 missed for the sake of £28.  Boo!

artyboy

Bit of a 2 finger salute to all those that campaigned that the Virgin takeover wasn't financially viable 

Sarahspangles

wiseonesomeofthetime said:

Kim_13 said:

No email yet but there is a banner in my app confirming.

I hope they do not pay early as parent (pension age) will lose 20% of it if paid in 24/25 but none if paid in 25/26.

I will lose 20% whether in this tax year or the next.

I saw a post somewhere where the poster claimed between 9 and 30 April for payment, but have not found any reference to that earlier date on any Nationwide correspondence yet.

That was me, the Press Release says it’s from 9th April (4th para above ‘Notes for Editors) https://www.nationwidemediacentre.co.uk/news/nationwide-pays-over-gbp-600m-to-members-as-a-big-thank-you-following-virgin-money-deal