Nationwide Building Society has issued an urgent three-day warning to its members, stating that a significant number of £50 bonus payments will be lost if not claimed immediately.
The Looming Deadline for Nationwide's 'Thank You' Payment
The mutual lender is reminding customers that all cheques from its 'Big Nationwide Thank You' initiative must be paid into a bank account by 1 January 2026. This one-off payment, distributed earlier this year, was a gesture of appreciation to over 12 million members following Nationwide's acquisition of Virgin Money.
While the majority of these £50 bonuses were deposited directly into customers' accounts, a portion were sent out as physical cheques via post. Nationwide's website now carries clear guidance stressing the imminent cut-off, stating customers must act to "make sure you don't miss out on the payment."
Who Was Eligible for the Nationwide Bonus?
The eligibility criteria for the £50 payment were specific. To qualify, individuals needed to be a Nationwide member on 30 September 2024 and remain a customer when the payment was issued.
Furthermore, during the 12 months leading up to the end of September 2024, members must have met one of two key conditions regarding their accounts. They needed to have either conducted at least one qualifying transaction on a Nationwide current or savings account, or held a minimum total balance of £100 across their Nationwide current and savings accounts.
Mortgage customers also qualified if they owed at least £100 on a Nationwide residential mortgage. An alternative route to eligibility was completing a current account switch to Nationwide using the Current Account Switch Service between 1 July 2024 and 30 September 2024.
How the Payments Were Made and What to Do Now
For those who received the funds automatically, the £50 was paid directly into a nominated account. This was typically the member's current account, an instant access savings account, or the bank account used to pay a mortgage direct debit.
All other payments were dispatched as a cheque by post. If you believe you were eligible but never received a payment or a cheque, or if you have misplaced a cheque, you are advised to contact Nationwide directly without delay.
The key takeaway for all Nationwide members is simple: check your records and any unopened post for a cheque from the building society. With the deadline falling on New Year's Day, the effective window to cash the cheque is within the next 72 hours to ensure banks process it in time.
