Nationwide Building Society has informed its customers of a critical deadline regarding a £50 payment that many may need to claim within the next three weeks. This payment is part of a larger initiative called “The Big Nationwide Thank You,” which was initiated following Nationwide’s acquisition of Virgin Money on October 1, 2024. Over 12 million eligible members are set to receive this payment as a gesture of gratitude for their support, which has helped bolster Nationwide’s financial strength.
The £50 payments began rolling out in April 2025, aimed at thanking members for their loyalty. Nationwide has confirmed that all payments have been issued, but those who opted for a cheque must ensure it is deposited by January 1, 2026, to avoid forfeiting the funds.
In a statement, Nationwide said, “On October 1, 2024, we completed the purchase of Virgin Money, becoming an even stronger force in UK banking. This was made possible by the financial strength Nationwide members helped us build. To say thank you, we’ve given over 12 million of our members £50 each as part of The Big Nationwide Thank You, totaling over £600 million.”
Eligibility for this payment required individuals to be members of Nationwide on September 30, 2024, and to maintain their membership at the time of payment distribution. Members also qualified if they had switched to any Nationwide current account via the Current Account Switch Service between July 1, 2024, and September 30, 2024.
How Payments Were Distributed
Payments were deposited directly into members’ current or savings accounts registered in their names. For those with a mortgage through Nationwide, the payment was directed to the account used for their mortgage Direct Debit, provided the account was also in the member’s name. Other payments were issued by cheque, which must be cashed by the stipulated deadline to ensure members do not miss out on their £50 payment.
Nationwide has proactively communicated with members who are eligible for this payment. Those who believe they qualify but have not received any notification can check their eligibility through the bank’s official channels.
Understanding the Big Nationwide Thank You
It is important to note that The Big Nationwide Thank You is separate from the Fairer Share Payment initiative. Members interested in learning more about their eligibility and the specifics of both programs can visit the Nationwide Fairer Share Payment page for further details.
As the deadline approaches, Nationwide encourages its members to take action swiftly to secure their £50 payment. This initiative not only reflects the bank’s appreciation for its members but also underscores the importance of customer loyalty in driving financial success.
