Nationwide statement over £50 payments ahead of two-month deadline - Manchester Evening News

Nationwide Building Society recently addressed concerns about its £50 bonus payment, part of the Big Nationwide Thank You initiative. This gesture was made in October 2024, where over 12 million customers received this bonus following Nationwide's acquisition of Virgin Money. The payment was a thank you to loyal customers and was distributed either directly into their current accounts, savings accounts, or sent via cheque if the payment couldn't be deposited electronically. Eligibility for this bonus was clear: customers had to be Nationwide members as of September 30, 2024, and still be members when the payment was processed. Additionally, within the 12 months before September 2024, members needed to meet specific criteria. They either had to have made at least one qualifying transaction on their Nationwide current or savings account, held a minimum of £100 across current and savings accounts combined, or owed at least £100 on any Nationwide residential mortgage. Another way to qualify was by switching to a Nationwide current account using the Current Account Switch Service between July 1 and September 30, 2024. Despite this, some customers reached out after missing their £50 payment. One customer, in particular, asked via social media how they could claim the payment they never received. Nationwide responded by advising customers who believe they were eligible but didn't get the bonus to start a chat through their banking app or internet banking platform. Alternatively, they can call Nationwide's customer support team, who are ready to help resolve these issues. The society is keen to assist anyone who missed out. There’s an important deadline for those who received their payment by cheque rather than electronic transfer. These cheques must be cashed by January 1, 2026. Customers who forget or delay could lose out on the bonus, so Nationwide is reminding everyone to cash their cheques before this cut-off date. Nationwide’s communication around this payment aimed to be transparent and supportive, ensuring that eligible customers understood the criteria and the process for claiming the bonus. The initiative not only rewarded existing members but also encouraged account switches during the summer of 2024. The gesture was seen as part of Nationwide's broader effort to consolidate its relationship with Virgin Money customers and affirm its commitment to member benefits after the acquisition.