Martin Lewis Issues 'Last Chance' Warning for Nationwide £100 Bonus in 2026
In a recent newsletter, consumer finance expert Martin Lewis has emphasized the urgent steps needed to potentially secure a £100 bonus from Nationwide Building Society in 2026. This initiative, known as the Fairer Share Payment, has historically distributed over £1 billion in loyalty rewards to members since its launch, with four million customers receiving £100 each last year alone. While Nationwide has not yet confirmed if the scheme will return for 2026, an announcement is expected in May following the release of full-year results.
Eligibility Criteria and Key Deadlines
According to Money Saving Expert (MSE), eligibility for the Fairer Share Payment typically depends on meeting specific criteria during the first three months of the year. For 2026, this means actions must be taken by March 31 to qualify. Martin Lewis advises that this period represents a 'last chance' for both existing and new customers to position themselves for the bonus.
Steps for Existing Nationwide Customers
Existing customers should follow these guidelines based on previous years' requirements:
- Keep accounts open: Maintain any Nationwide current account until at least March 31, 2026.
- Use your account: Activity requirements vary by account type:
- For FlexAccount, FlexBasic, and FlexDirect: Receive £500 and make two payments, make at least 10 outgoing payments, or complete a full current account switch to Nationwide.
- For FlexOne, FlexGraduate, and FlexStudent: Make at least one payment in or out in March 2026, or switch to FlexOne or FlexStudent by March 31, 2026.
- For FlexPlus packaged accounts: No payments are needed, but monthly fees must be paid.
- Savings or mortgage balance: Hold at least £100 in a Nationwide savings account or owe at least £100 on a Nationwide mortgage in March 2026. MSE suggests depositing £100-£200 into a savings account as a precaution.
Steps for New Nationwide Customers
New customers can qualify by switching their current account to Nationwide using the official Current Account Switch Service (CASS) by March 31, 2026. MSE notes that switching may be easier than meeting existing customer rules, with benefits like a £175 sign-up bonus, 5% interest on up to £1,500, and cashback on debit card spending for FlexDirect accounts. After switching, ensure you have at least £100 in savings or a mortgage with Nationwide by March 2026.
Payment Timeline and Tax Considerations
If the Fairer Share Payment is confirmed for 2026, bonuses are typically paid between June and July, based on past years where payments were made from June 18 to July 4, 2025. Martin Lewis warns that previous bonuses have been treated as taxable savings income, which could affect higher-rate taxpayers or those with significant non-ISA savings, though most people will not be impacted.
Martin Lewis and MSE stress the importance of acting now to maximize chances for this potential financial boost, as deadlines are fast approaching. Stay tuned for updates from Nationwide in May for official confirmation of the 2026 scheme.
