Money-saving expert Martin Lewis has outlined the crucial actions savers need to take now to potentially pocket a £100 bonus from Nationwide Building Society in 2026.
What is the Nationwide Fairer Share Payment?
The initiative, which sees the mutual bank share profits directly with its members, has issued over £1 billion in loyalty bonuses since it began three years ago. Last year alone, four million customers received £100 each. While Nationwide has not yet confirmed if the scheme will run again in 2026, the decision is typically announced following its full-year results in May. If it proceeds, payments would likely land in accounts before summer, following the previous year's timeline of deposits between June 18 and July 4.
Steps for Existing Nationwide Customers
According to the latest MoneySavingExpert (MSE) guide, eligibility has historically depended on meeting criteria in the first three months of the year. Therefore, acting now is vital. The requirements for existing customers are threefold.
First, you must keep any Nationwide current account open until at least March 31, 2026.
Second, you need to use that account actively during the qualifying period. The specific rules vary by account type:
- FlexAccount, FlexBasic, FlexDirect: You must either receive £500 and make two outgoing payments, make at least 10 outgoing payments, or complete a full switch from another bank to Nationwide.
- FlexOne, FlexStudent, FlexGraduate: You need to make at least one payment in or out during March 2026, or switch to a FlexOne or FlexStudent account by the March 31 deadline.
- FlexPlus: No specific payments are required, but you must keep up with the monthly account fee.
The third step is to hold at least £100 in a Nationwide savings account or owe at least £100 on a Nationwide mortgage in March 2026. MSE suggests that if you don't have these products, consider depositing £100-£200 into a Nationwide savings account to meet this condition.
How New Customers Can Qualify
For those not yet with Nationwide, the path to the bonus is through a current account switch. You must use the official Current Account Switch Service (CASS) to move your account to Nationwide by March 31, 2026.
MSE notes that switching can be particularly attractive, as the FlexDirect account comes with a £175 sign-up bonus, 5% interest, and cashback. Importantly, fewer rules apply for switchers to qualify for the Fairer Share payment compared to existing customers. After switching, you must also meet the same £100 savings or mortgage requirement in March.
A key warning from the guide is that the £100 bonus has been treated as taxable savings income in the past. While this won't affect most people, it could impact higher-rate taxpayers or those with substantial non-ISA savings.
With the clock ticking towards the end of March, both loyal members and prospective switchers are advised to review their finances to position themselves for this potential windfall, pending Nationwide's official announcement in May.
