Millions of Nationwide members will be denied the £100 Fairer Share payment in 2026, it has been warned. Virgin Money customers who are now with Nationwide after the bank's high street takeover of its rival may not qualify until 2027.
Virgin Money's customers automatically became Nationwide members earlier this month after the takeover was legally completed on April 2. However, this means Nationwide, which has branches in Birmingham, will not pay them the bonus.
This is because the £100 Fairer Share scheme's cutoff was March. For the past three years, Nationwide has given some existing customers a £100 'Fairer Share' bonus. It is likely, though not guaranteed, to do the same again this year.
Previously, the scheme has been announced in May and paid in June, though eligibility depended on what customers did in January, February, and/or March.
On its website, Nationwide said: "From jaw-drops to happy money dances, our members showed just how good it feels to find a Fairer Share £100 payment in their bank account. This payment is a favourite across the UK, bringing big smiles to members everywhere. Giving back is part of what makes us different and a good way to bank. And we love how it gives people that full-body buzz and inspires mini bedroom discos."
Members with a qualifying current account, plus qualifying savings or qualifying mortgage, received the £100. "And they needed to have met these criteria when we last checked on 31 March 2025."
It went on: "We'd like to make Fairer Share Payments every year, but it depends on how we perform financially. For any future payments, we may change the eligibility criteria and the amount we pay."
The payment was a distribution of profits by the Society, treated as interest for UK income tax purposes. No tax was deducted, but Nationwide reported the payment to HM Revenue and Customs (HMRC). Liability for tax depended on whether a member's total interest exceeded their Personal Savings Allowance.
