Nationwide Fairer Share

WillPS

GeoffTF said:

subjecttocontract said:

subjecttocontract said:

I do have £10K in a Nationwide 18 month bond until December & some money in a Flex Account but other than that I intend to do absolutely nothing to try to qualify. Prior year payouts were £100 and I reckon I can spend my time & effort achieving a similar return on other stuff. Good luck to those who want to try though.

I've changed my mind. Have paid £500 into my Flex account, dug out my old Flex debit card and decided that making a few card transactions isn't to difficult. After all, like others, I can give the money to charity after the tax man has taken his share.

Donations to charity are tax free, provided that you follow the correct procedures.

I don't think there's any way of making that happen with regards to a payment of interest; it's a bit of a clumsy solution in many respects but free money is free money ultimately!

Nasqueron

WillPS said:

Nasqueron said:

WillPS said:

Nasqueron said:

SevenOfNine said:

danny13579 Had started a 'clean' thread, now this merged one is all over the place & 7 pages long! His new thread was VERY clear what the requirement had been in 2025, which MIGHT be the same for 2026, so a starting point for anyone wanting to TRY to qualify this year.

This thread is enough to give anyone a migraine!

The conditions didn't change from 2024 either, they're very simple

Have a current account, pay in at least £500 a month and make 2 payments out for 2 out of 3 months (Jan-Feb) and have £100 or more in a savings account

I would do the above and maybe a bit more e.g. do it in all 3 months and have more than £100 in savings / pay more in just in case

Yes there are more combinations such as switches or paid accounts or mortgages but the above is all you need

They did change, but it was a broadening of the criteria - ISTR they added a way of qualifying by doing a certain number of transactions (possibly debit card only).

There was a more subtle change the previous year too - but everyone who qualified in 2023 would have qualified in 2024 and 2025 by hitting the same criteria they did in 2023.

The basic ones didn't 

Same requirement of £500 in for 2/3 months, made 2 payments out (they actually had a second option of 10 payments out in 2/3 months) and same £100 in savings. Also had the waiver of actions if you switched in Jan-Mar

https://www.nationwide.co.uk/-/assets/nationwidecouk/documents/about/fairer-share/nationwide-fairer-share-payment-2024-terms-and-conditions.pdf

Again, not quite true - the 2023 terms said you had to complete the actions on any one single FlexAccount, FlexDirect or FlexBasic. The 2024 and 2025 terms considered movement across all a customer's FlexAccounts, FlexDirects and FlexBasics.

I didn't mention 2023, only that 2024 to 2025 were the same

harz99

subjecttocontract said:

harz99 said:

j.p said:

I'm hoping this year Nationwide won't pay anybody anything.
Speculators, go play the stock market if you're so clever.
Instead of trying to milk overly generous & soft-touch Building Society.

If you think that you are on the wrong site, and definitely the wrong thread matey! 

Well this is a forum where differing views can be expressed. If you expect everybody to agree with you you might find you'll be disappointed occasionally. It never ceases to amaze me how some people just can't understand how anyone can have a different opinion. We don't all have to agree all of the time, just respect the rights of other to hold a different view.

I disagree, this isn't the place for dissenting (not differing) views to be expressed, the thread is purely about how best to ensure that, in the MSE way, people benefit from Nationwide's offers. 

clairec666

subjecttocontract said:

harz99 said:

j.p said:

I'm hoping this year Nationwide won't pay anybody anything.
Speculators, go play the stock market if you're so clever.
Instead of trying to milk overly generous & soft-touch Building Society.

If you think that you are on the wrong site, and definitely the wrong thread matey! 

Well this is a forum where differing views can be expressed. If you expect everybody to agree with you you might find you'll be disappointed occasionally. It never ceases to amaze me how some people just can't understand how anyone can have a different opinion. We don't all have to agree all of the time, just respect the rights of other to hold a different view.

Everyone's entitled to their opinion, but if someone's jumping on a thread entitled "Nationwide Fairer Share" just to ridicule people who want to get said fairer share, then they're wasting their time.

GeoffTF

WillPS said:

GeoffTF said:

subjecttocontract said:

subjecttocontract said:

I do have £10K in a Nationwide 18 month bond until December & some money in a Flex Account but other than that I intend to do absolutely nothing to try to qualify. Prior year payouts were £100 and I reckon I can spend my time & effort achieving a similar return on other stuff. Good luck to those who want to try though.

I've changed my mind. Have paid £500 into my Flex account, dug out my old Flex debit card and decided that making a few card transactions isn't to difficult. After all, like others, I can give the money to charity after the tax man has taken his share.

Donations to charity are tax free, provided that you follow the correct procedures.

I don't think there's any way of making that happen with regards to a payment of interest; it's a bit of a clumsy solution in many respects but free money is free money ultimately!

The source of the income does not matter:

"If a UK taxpayer makes a charitable donation to a UK registered charity, and they elect to have the donation classified under the “Gift Aid” scheme, then the charity can reclaim 25% of the donation from HMRC as tax reclaimed under the Gift Aid scheme. During the April 2023 tax year, HMRC paid charities £1.6 billion in Gift Aid.

In addition, the donor will receive tax relief on the donation. For basic rate taxpayers this is neutral but for higher or additional rate taxpayers, an additional amount of tax relief is obtained when the individual prepares and submits their self-assessment tax return.

For example, if the donation is £100, the charity can claim an extra £25 through Gift Aid from HMRC. This does require the donor to make a Gift Aid declaration. With the £100 Gift Aid donation a higher rate taxpayer can also personally claim back £25 (£125 x 20%) meaning the charity will receive £125 for a £75 cost to the donor personally!

To use Gift Aid, you must have paid enough income tax or capital gains tax to HMRC in the tax year to be equal to or more than the amount that the charity will reclaim otherwise HMRC will ask you to pay more to cover the difference."

https://perrysaccountants.co.uk/news/tax-relief-for-charitable-donations-2

TheBanker

GeoffTF said:

WillPS said:

GeoffTF said:

subjecttocontract said:

subjecttocontract said:

I do have £10K in a Nationwide 18 month bond until December & some money in a Flex Account but other than that I intend to do absolutely nothing to try to qualify. Prior year payouts were £100 and I reckon I can spend my time & effort achieving a similar return on other stuff. Good luck to those who want to try though.

I've changed my mind. Have paid £500 into my Flex account, dug out my old Flex debit card and decided that making a few card transactions isn't to difficult. After all, like others, I can give the money to charity after the tax man has taken his share.

Donations to charity are tax free, provided that you follow the correct procedures.

I don't think there's any way of making that happen with regards to a payment of interest; it's a bit of a clumsy solution in many respects but free money is free money ultimately!

The source of the income does not matter:

"If a UK taxpayer makes a charitable donation to a UK registered charity, and they elect to have the donation classified under the “Gift Aid” scheme, then the charity can reclaim 25% of the donation from HMRC as tax reclaimed under the Gift Aid scheme. During the April 2023 tax year, HMRC paid charities £1.6 billion in Gift Aid.

In addition, the donor will receive tax relief on the donation. For basic rate taxpayers this is neutral but for higher or additional rate taxpayers, an additional amount of tax relief is obtained when the individual prepares and submits their self-assessment tax return.

For example, if the donation is £100, the charity can claim an extra £25 through Gift Aid from HMRC. This does require the donor to make a Gift Aid declaration. With the £100 Gift Aid donation a higher rate taxpayer can also personally claim back £25 (£125 x 20%) meaning the charity will receive £125 for a £75 cost to the donor personally!

To use Gift Aid, you must have paid enough income tax or capital gains tax to HMRC in the tax year to be equal to or more than the amount that the charity will reclaim otherwise HMRC will ask you to pay more to cover the difference."

https://perrysaccountants.co.uk/news/tax-relief-for-charitable-donations-2

I think the point was it's administrativly clumsy, not impossible. A basic rate taxpayer who wants to donate their £100 Fairer Share payment to charity would have to donate £80, and tick the gift aid box so the charity can claim the 20% tax from HMRC, so the charity still get £100, and you're left with £20 in your Nationwide account to cover the tax bill.

The tax bill will be generated in the 2027/8 tax year, when Nationwide and the other banks have submitted their 2026/7 BBSI returns. And for most people will result in their tax code being adjusted and the £20 collected over several months through PAYE. So the original £20 is still sat in the Nationwide account.

GeoffTF

TheBanker said:

GeoffTF said:

WillPS said:

GeoffTF said:

subjecttocontract said:

subjecttocontract said:

I do have £10K in a Nationwide 18 month bond until December & some money in a Flex Account but other than that I intend to do absolutely nothing to try to qualify. Prior year payouts were £100 and I reckon I can spend my time & effort achieving a similar return on other stuff. Good luck to those who want to try though.

I've changed my mind. Have paid £500 into my Flex account, dug out my old Flex debit card and decided that making a few card transactions isn't to difficult. After all, like others, I can give the money to charity after the tax man has taken his share.

Donations to charity are tax free, provided that you follow the correct procedures.

I don't think there's any way of making that happen with regards to a payment of interest; it's a bit of a clumsy solution in many respects but free money is free money ultimately!

The source of the income does not matter:

"If a UK taxpayer makes a charitable donation to a UK registered charity, and they elect to have the donation classified under the “Gift Aid” scheme, then the charity can reclaim 25% of the donation from HMRC as tax reclaimed under the Gift Aid scheme. During the April 2023 tax year, HMRC paid charities £1.6 billion in Gift Aid.

In addition, the donor will receive tax relief on the donation. For basic rate taxpayers this is neutral but for higher or additional rate taxpayers, an additional amount of tax relief is obtained when the individual prepares and submits their self-assessment tax return.

For example, if the donation is £100, the charity can claim an extra £25 through Gift Aid from HMRC. This does require the donor to make a Gift Aid declaration. With the £100 Gift Aid donation a higher rate taxpayer can also personally claim back £25 (£125 x 20%) meaning the charity will receive £125 for a £75 cost to the donor personally!

To use Gift Aid, you must have paid enough income tax or capital gains tax to HMRC in the tax year to be equal to or more than the amount that the charity will reclaim otherwise HMRC will ask you to pay more to cover the difference."

https://perrysaccountants.co.uk/news/tax-relief-for-charitable-donations-2

I think the point was it's administrativly clumsy, not impossible. A basic rate taxpayer who wants to donate their £100 Fairer Share payment to charity would have to donate £80, and tick the gift aid box so the charity can claim the 20% tax from HMRC, so the charity still get £100, and you're left with £20 in your Nationwide account to cover the tax bill.

The tax bill will be generated in the 2027/8 tax year, when Nationwide and the other banks have submitted their 2026/7 BBSI returns. And for most people will result in their tax code being adjusted and the £20 collected over several months through PAYE. So the original £20 is still sat in the Nationwide account.

You can just spend the remaining £20 if you are a Standard Rate tax payer. You are, in effect, being paid the tax relief up-front.  You can claim further tax relief if you are a Higher Rate or Additional Rate tax payer. That is not difficult if you are in Self Assessment.

artyboy

WillPS said:

subjecttocontract said:

I do have £10K in a Nationwide 18 month bond until December & some money in a Flex Account but other than that I intend to do absolutely nothing to try to qualify. Prior year payouts were £100 and I reckon I can spend my time & effort achieving a similar return on other stuff. Good luck to those who want to try though.

Do let us know what might potentially earn you £100 for the time it takes to transfer £1000 in and then two payments of £500 out, twice!

Might I respectfully direct you to eToro 😁

WillPS

I noticed today, in the bumpf about their current switch offer they say the following:

You could get a Fairer Share Payment

Bank with us and have a Nationwide mortgage or savings and you could enjoy a Fairer Share Payment. For 3 years, we've given £100 to eligible members. Terms apply*.

That certainly sounds to me like a statement they wouldn't make if they weren't planning on a £100 payment this year.

Yorkie1

I was in a NW branch on Thursday, and the person behind the counter was suggesting that, while specific eligibility hadn't yet been announced, it was likely that the Fairer Share Payment might be done again this year.