Nationwide Fairer Share

HillStreetBlues

It hadn't crossed my mind there won't be, simply because the buying of Virgin Money, how would it look!  We made a wonder deal buying it, but now can't give you a fairer share payment this year.

Bob2000

Just to clarify the terms of potentially  receiving  the fairer shaire.

Deposit £500 in two of the three months of Jan  Feb or March.
Make two payments out or is it ten for two of the three months?
And have £100 in saving at the end of March?

eskbanker

Bob2000 said:

Just to clarify the terms of potentially  receiving  the fairer shaire.

Deposit £500 in two of the three months of Jan  Feb or March.
Make two payments out or is it ten for two of the three months?
And have £100 in saving at the end of March?

This is the disadvantage of threads being merged, as the posts summarising the most recent terms are on page 4 rather than page 1!

https://forums.moneysavingexpert.com/discussion/6628040/nationwide-fairer-share/p4

PixelPound

HillStreetBlues said:

It hadn't crossed my mind there won't be, simply because the buying of Virgin Money, how would it look!  We made a wonder deal buying it, but now can't give you a fairer share payment this year.

Doubt it, given they also already gave members £50 from benefits acquiring VM. Fairer Share will continue as it's good publicity for them

SickGroove

I assume if you've only got the members exclusive 18 month savings account & already maxed that out, that will suffice for the savings account qualification element?

Nasqueron

SickGroove said:

I assume if you've only got the members exclusive 18 month savings account & already maxed that out, that will suffice for the savings account qualification element?

can't assume anything as we don't know the terms of any possible 2026 share

The 2025 ones:

3. What are qualifying savings?

You will have had qualifying savings if you had at least £100 in total in one or more personal savings accounts or cash ISAs with Nationwide at the end of any day in March 2025.

Qualifying savings do not include:
 • Money you held in a Nationwide Business Savings account (including money held in BusinessInvestor, PortfolioInvestor and Treasurer’s Trust accounts).
• Money or other assets held in a Nationwide Investment account, such as a stocks and shares ISA. • Money or other assets held in an account with one of our subsidiaries, such as Clydesdale Bank plc (which also trades as Virgin Money or Yorkshire Bank).
 • Money in an account in the name of someone else that is being held for your benefit under a trust or similar arrangement. For example, if money is held in a Smart or Future Saver account in the name of a parent but for the benefit of a child, the money in the account will only count towards the parent’s qualifying savings. Money in a Child Trust Fund or Smart Junior ISA is held in an account in the name of a child and therefore the money will count towards the child’s qualifying savings. It will not count towards the Registered Contact’s qualifying savings unless they are also the child account holder.  

lon_don

If the fairer pot is roughly unchanged from last year (and the FCA fine to account for   on top), and with now much more widespread awareness of this fairer scheme (thanks to ML and other media), it is not inconceivable that Nationwide will have to tighten the t&c vs previous years to make the maths work.

Zanderman

lon_don said:

If the fairer pot is roughly unchanged from last year (and the FCA fine to account for   on top), and with now much more widespread awareness of this fairer scheme (thanks to ML and other media), it is not inconceivable that Nationwide will have to tighten the t&c vs previous years to make the maths work.

And/or reduce the amount. It doesn't have to be £100.

allegro120

Bob2000 said:

Just to clarify the terms of potentially  receiving  the fairer shaire.

Deposit £500 in two of the three months of Jan  Feb or March.
Make two payments out or is it ten for two of the three months?
And have £100 in saving at the end of March?

This is what I did last year. £500 in, £200 to RS and £300 back to EA in two payments.  Very simple.
Ten payments was an alternative if you are unable to deposit £500.  Yes, £100 in savings was also part of the deal.  

sazandy25

Hi, currently thinking of switching to Nationwide for the 'expected share' (unable to get switching incentive as last had account in 2023 & can't see a new one being offered for people like us. Eg. Previous switchers)

The account to be switched (an used Ulster bank account) would be a joint account.
Understand this years requirements haven't been announced BUT
In previous years would we both get 'the share' if we both open a personal saving account & fund with £100+ & meet other requirements in the current account?