Inquiry about additional payments: Did I receive a £50 bonus nationwide, and am I eligible for a £100 Fairer Share payment? When will this information be disclosed?
Chattin' with Ya, Buddy:
So, you got a nifty £50 bonus from Nationwide, eh? That's nice! I know last year you were hoping for that same amount, but it seems like it's a different story this year.
Here's the deal: Around 12 million Nationwide members are supposed to get the "Nationwide's Big Thank You" payment by the end of April, with the rest coming by May 14th for those receiving it by check. You might be wondering if this £50 bonus means that the traditional £100 Fairer Share payment isn't happening for 2025.
Well, fear not! The £50 bonus and the potential 2025 Fairer Share payment are two different things. The bonus is a one-off 'thank you' for the takeover of Virgin Money, while the Fairer Share payment is an annual profit-sharing scheme.
According to Nationwide, they'll be making a decision about the Fairer Share payment in May, depending on their financial performance. If it does happen again, it'll be the third year in a row, and some customers could potentially receive a total of £350 in three years.
To clarify, the £50 bonus is separate from a hypothetical Nationwide's 2025 Fairer Share Scheme. So, even though you got the £50 already, you might still be eligible for another £100 under the Fairer Share scheme, if it's announced.
Remember, eligibility criteria for the Fairer Share payment may not be the same as last year. You'll likely need to have an active current account and either:
- A certain balance in savings, a mortgage, or a cash Isa, or
- Meet specific requirements like making a certain number of payments or having a certain amount of money transferred into your account.
I'll keep an eye out for any updates on the 2025 Fairer Share payment and let you know if there are any changes. In the meantime, cross your fingers and keep an eye on your account!
Some Fun Facts:
- The last time they offered the Fairer Share payment was in 2023, where 4 million members received £100 each.
- The date for the 2025 Fairer Share payment will likely be announced on May 29th as part of Nationwide's annual results.
- It's already too late to influence whether you'll qualify for this year's payment, as last year's criteria had to be met by the end of March.
- Helena, investing your savings into Nationwide's products could potentially increase your eligibility for the Fairer Share payment in 2025.
- In the world of personal-finance, highlighting the importance of understanding the differences between one-off payments like the £50 bonus and recurring payments such as the Fairer Share scheme is crucial.
- By 2025, Nationwide aims to distribute their Fairer Share payments more fairly across the business, aiming to create a more equitable financial landscape.
- In a future business meeting, discussing the potential increase in Fairer Share payments for 2025 and its positive impact on customer-loyalty is an essential topic for Helen to broach.
- If the Fairer Share payment is announced for 2025, Helen's personal-finance situation could improve significantly, providing an additional source of income.
