Nationwide Big Thank You

Brewer21

bomaya said:

Like someone else in this thread, I received the email saying I would receive this £50 but I'm not sure I'm eligible either. I did have a savings account with quite a bit in it at one point but it's been empty and dormant for a good 5-6 years I think now. When I looked in my files, I'm can't even find any proof I had it - no account number or passbook or anything. So, not going to moan if I'm ineligible but would my local branch find my details if I just went in with passport, proof of address etc? Saying that, it might even have had an old address linked to it...

I've got nowt in my account, been like that for around 2 years. I've got no way of accessing it when I get the £50 (I say when) as I switched away my current account with them. I do have internet access to see the account though via the  app or of course online.
Thing is both messages, in-app and the email say I will be receiving the £50. It's pretty clear they are giving me the payment. I know some say read the T&C's which I have but Nationwide haven't told me to refer to my eligibility to receive it, they've just related what happens for tax purposes and and full terms. 
So I'll be holding them to their promise of sending £50 by 30th April, they say I don't have to do anything to receive it.
I'll have to open a current account I guess to get it, that's if they don't issue a cheque.

garymguk

Has anyone received the £50 yet?

I received the email and the pop up notice in the nationwide app. 

Sarahspangles

garymguk said:

Has anyone received the £50 yet?

I received the email and the pop up notice in the nationwide app. 

There are no payouts before 9th April.

epm-84

grumpy_codger said:

epm-84 said:

I think in fairness to Nationwide - they have decided on a £50 member bonus. That's more than Coventry members are getting from the acquisition of Co-op Bank (unless they make some announcement soon).

How can a company make real money soon after acquisition of some other company? I think a short-term effect is quite opposite.

I'm not an expert on limited companies, but I think when they agree a merger it's not uncommon for there to be a shareholder pay out, even if the shareholders haven't reduced their shares. As building society members are like shareholders, should it be any different?

I suppose the strange thing is the fixed £50, regardless of the amount you have invested.

wmb194

epm-84 said:

grumpy_codger said:

epm-84 said:

I think in fairness to Nationwide - they have decided on a £50 member bonus. That's more than Coventry members are getting from the acquisition of Co-op Bank (unless they make some announcement soon).

How can a company make real money soon after acquisition of some other company? I think a short-term effect is quite opposite.

I'm not an expert on limited companies, but I think when they agree a merger it's not uncommon for there to be a shareholder pay out, even if the shareholders haven't reduced their shares. As building society members are like shareholders, should it be any different?

I suppose the strange thing is the fixed £50, regardless of the amount you have invested.

 Nationwide paid billions to Virgin Money's/Clydedale's shareholders for their shares. Companies don't usually pay their own shareholders as well. This is a strange reason that Nationwide's given.

Nasqueron

epm-84 said:

grumpy_codger said:

epm-84 said:

I think in fairness to Nationwide - they have decided on a £50 member bonus. That's more than Coventry members are getting from the acquisition of Co-op Bank (unless they make some announcement soon).

How can a company make real money soon after acquisition of some other company? I think a short-term effect is quite opposite.

I'm not an expert on limited companies, but I think when they agree a merger it's not uncommon for there to be a shareholder pay out, even if the shareholders haven't reduced their shares. As building society members are like shareholders, should it be any different?

I suppose the strange thing is the fixed £50, regardless of the amount you have invested.

I posted about this before ither on this thread or another - they paid a fixed sum but got more than expected in value hence the surplus which they used as a payout

grumpy_codger

Nasqueron said:

epm-84 said:

grumpy_codger said:

epm-84 said:

I think in fairness to Nationwide - they have decided on a £50 member bonus. That's more than Coventry members are getting from the acquisition of Co-op Bank (unless they make some announcement soon).

How can a company make real money soon after acquisition of some other company? I think a short-term effect is quite opposite.

I'm not an expert on limited companies, but I think when they agree a merger it's not uncommon for there to be a shareholder pay out, even if the shareholders haven't reduced their shares. As building society members are like shareholders, should it be any different?

I suppose the strange thing is the fixed £50, regardless of the amount you have invested.

I posted about this before ither on this thread or another - they paid a fixed sum but got more than expected in value hence the surplus which they used as a payout

'Value' is too vague in this respect especially as as they aren't listed on the stock market. And after spending a lot of cash you hardly can use surplus 'value' to pay even more cash.

I agree with the earlier comment that all this is simply a 'publicity stunt'.

Nasqueron

grumpy_codger said:

Nasqueron said:

epm-84 said:

grumpy_codger said:

epm-84 said:

I think in fairness to Nationwide - they have decided on a £50 member bonus. That's more than Coventry members are getting from the acquisition of Co-op Bank (unless they make some announcement soon).

How can a company make real money soon after acquisition of some other company? I think a short-term effect is quite opposite.

I'm not an expert on limited companies, but I think when they agree a merger it's not uncommon for there to be a shareholder pay out, even if the shareholders haven't reduced their shares. As building society members are like shareholders, should it be any different?

I suppose the strange thing is the fixed £50, regardless of the amount you have invested.

I posted about this before ither on this thread or another - they paid a fixed sum but got more than expected in value hence the surplus which they used as a payout

'Value' is too vague in this respect especially as as they aren't listed on the stock market. And after spending a lot of cash you hardly can use surplus 'value' to pay even more cash.

I agree with the earlier comment that all this is simply a 'publicity stunt'.

If you spend say £2.5bn to buy £2.5bn of assets but get £3bn then you have a surplus value of £.5bn, shareholders might get it or customers might get it if there are no shareholders. Sure it's publicity but it's good for us and that is what counts

wmb194

Nasqueron said:

grumpy_codger said:

Nasqueron said:

epm-84 said:

grumpy_codger said:

epm-84 said:

I think in fairness to Nationwide - they have decided on a £50 member bonus. That's more than Coventry members are getting from the acquisition of Co-op Bank (unless they make some announcement soon).

How can a company make real money soon after acquisition of some other company? I think a short-term effect is quite opposite.

I'm not an expert on limited companies, but I think when they agree a merger it's not uncommon for there to be a shareholder pay out, even if the shareholders haven't reduced their shares. As building society members are like shareholders, should it be any different?

I suppose the strange thing is the fixed £50, regardless of the amount you have invested.

I posted about this before ither on this thread or another - they paid a fixed sum but got more than expected in value hence the surplus which they used as a payout

'Value' is too vague in this respect especially as as they aren't listed on the stock market. And after spending a lot of cash you hardly can use surplus 'value' to pay even more cash.

I agree with the earlier comment that all this is simply a 'publicity stunt'.

If you spend say £2.5bn to buy £2.5bn of assets but get £3bn then you have a surplus value of £.5bn, shareholders might get it or customers might get it if there are no shareholders. Sure it's publicity but it's good for us and that is what counts

Is that cash though? If it's just a revaluation of e.g., loans on the balance sheet then where's the cash come from? What stops it from being revalued lower in the future if e.g., a recession hits? Why was Clydesdale/VM's valuation so much lower than NW's?

MACKEM99

Perhaps its to do with their systems being down since Sunday (thats what I was told on the phone a few minutes ago) when I rang to complain about money I had transferred out well over 2 hours ago not appeared in receiving account yet.  They cannot even log my complaint.  Should I make a complaint about not being able to make a complaint?