Nationwide Building Society's acquisition of Virgin Money has added an estimated 3 million new customers to its membership, making them potentially eligible for the annual Fairer Share bonus. However, these new members may have to wait until 2027 to receive a payout due to timing constraints.
Acquisition Details
In 2024, Nationwide announced its purchase of Virgin Money, bringing half of Virgin Money's 6.3 million customers into Britain's largest mutual. The deal was legally finalized earlier this month, meaning all Virgin Money personal current account, savings, and mortgage holders are now Nationwide members.
Fairer Share Bonus Eligibility
The Fairer Share profit-sharing scheme has distributed over £1 billion in one-off loyalty bonuses since its launch, with more than 4 million Britons receiving £100 each in 2025. Whether the bonus will be offered for a fourth time is expected to be announced alongside Nationwide's end-of-year results on May 21, along with qualifying criteria and payment amounts.
Based on previous years, new Virgin Money customers likely missed the eligibility deadline. Past bonuses required an open current account by March 31 and minimum savings of £100 or a mortgage balance of £100 by that date. Since the acquisition was officially announced on April 2, two days after the deadline, these new members are unlikely to qualify for 2026.
Stephen Noakes, Nationwide's director of retail, stated: 'The acquisition of Virgin Money enables us to expand the benefits of mutuality, and we look forward to sharing the additional value we can create for our new members. From exclusive savings rates to existing member benefits, we want there to be every reason to join Britain's biggest building society.'
Future Payments Not Guaranteed
Nationwide's website clarifies that Fairer Share payments depend on financial performance and are not guaranteed. 'Membership does not create an automatic right to any future payment. Any future decision on Nationwide's Fairer Share Payment will be for Nationwide's Board to consider, including who is eligible,' the guidance states.
In summary, Virgin Money customers should not expect a £100 bonus in 2026, but may become eligible in 2027 if the scheme continues.
