Final hours for £100 payment to land in accounts – exact code to spot as 3.85million get free cash
BUILDING Society customers have just hours left to get a free £100 to help with the cost of living.
The money comes from Nationwide which has been issuing the Fairer Share payments to almost 4million customers.
Nationwide told The Sun earlier this week it had already paid out 99.9% of the bonuses with thousands still to be made.
Around 3.85million are eligible for the £100, which started being dished out on June 13.
But today is the final day anyone who qualifies will receive the payment.
So, if you haven’t had yours yet, don’t worry as there is still time for it to be made.
To qualify for a payment, you must hold a qualifying current account and either a qualifying savings or mortgage product.
You must have held these two accounts on March 31 this year and still have had it open this month.
The following current accounts will qualify you for the payment:
- FlexPlus
- FlexOne
- FlexStudent
- FlexGraduate
- FlexAccount
- FlexDirect
- FlexBasic
If you do qualify for the payment, Nationwide should have contacted you via its banking app, post and email before the end of May.
The payment will show up as “Nationwide Fairer Share Payment” on your bank statement.
The payment is being made direct into people’s current accounts.
If you hold more than one current account, the money will be paid into any one of these.
If you have an account in your sole name the money will be paid into this account, or a joint account if you do not.
Meanwhile, if you have a joint current or savings account, or mortgage, you will both qualify meaning you get £200 in total.
Anyone unclear about whether they qualify can use Nationwide’s eligibility checker on its website.
It’s the second time Nationwide has made the payment after first issuing a £100 payment to 3.4million people last year.
The payment came after Nationwide reported profits of £2billion.
What can I get if I’m not eligible for the £100 payment?
Nationwide has over 17million customers which means over 13million won’t qualify for the £100 Fairer Share payment.
But you might be able to get a £200 free payment after the building society launched a Member Exclusive Current Account Online Switch Offer.
To qualify for the incentive, you had to have been a member on March 31, 2024.
You’ll also need to switch a non-Nationwide current account into a new or existing FlexDirect account.
Customers will need to do this via the Current Account Switch Service.
A minimum of two active direct debits must be transferred to the new account.
How do I switch bank accounts?
SWITCHING bank accounts is a simple process and can usually be done through the Current Account Switch Service (CASS).
Dozens of high street banks and building societies are signed up – there’s a full list on CASS’ website.
Under the switching service, swapping banks should take seven working days.
You don’t have to remember to move direct debits across when moving, as this is done for you.
All you have to do is apply for the new account you want, and the new bank will tell your existing one you’re moving.
There are a few things you can do before switching though, including choosing your switch date and transferring any old bank statements to your new account.
You should get in touch with your existing bank for any old statements.
When switching current accounts, consider what other perks might come with joining a specific bank or building society.
Some banks offer 0% overdrafts up to a certain limit, and others might offer better rates on savings accounts.
And some banks offer free travel or mobile phone insurance with their current accounts – but these accounts might come with a monthly fee.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
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