Nationwide issue key two-month warning over £50 bonus payments for all customers

Nationwide Building Society has set an important deadline for its customers who received a £50 bonus payment as part of last year's Big Nationwide Thank You initiative. This one-time payment was a gesture of appreciation to over 12 million loyal members following Nationwide's successful takeover of Virgin Money. While the majority of payments were credited directly into customers' bank accounts, some payments were sent out as cheques. Those who received cheques need to be aware that they must cash them by January 1, 2026, or risk losing the bonus. Nationwide has emphasized the urgency of this deadline with less than two months remaining. Customers who fail to cash their cheques by this date may miss out on the payment, although the building society has indicated that any cases where customers couldn't deposit their cheque on time will be reviewed individually. This deadline is crucial for those who haven't yet redeemed their bonus, as no further automatic payments will be made after the cutoff. To qualify for the £50 bonus, customers had to meet certain criteria by September 30, 2024. Eligibility required membership of Nationwide on that date and still being a member when the payments were processed. Furthermore, within the 12 months leading up to the end of September 2024, members needed to have conducted at least one qualifying transaction on a Nationwide current or savings account, or to have held a minimum total balance of £100 across these accounts. Mortgage customers who owed at least £100 on one or more Nationwide residential mortgages also qualified. An additional group eligible for the bonus included customers who switched to a Nationwide current account between July 1 and September 30, 2024, using the Current Account Switch Service. This was designed to encourage new members while rewarding existing ones. All direct payments were made either into a current account or into instant or limited access savings accounts held in the customer's name. Meanwhile, customers who got their bonus via cheque are now being urged to act promptly to avoid missing out. Nationwide’s clear communication about this deadline aims to make sure as many eligible members as possible receive their thanks in the form of this £50 bonus. For those who haven’t yet cashed their cheque, the clock is ticking and the society has shown some flexibility by handling exceptional cases on an individual basis. Overall, this initiative reflects Nationwide’s commitment to acknowledging its customer base amid significant corporate changes and market shifts.