Nationwide says some members ‘need to do this’ to | U.Ok.Finance News
Nationwide Building Society has issued an replace to some of its members, about how to obtain a £50 bonus fee.The supplier has been paying out £50 to over 12 million of its members as a gesture of thanks after it acquired Virgin Money. Most of the funds have now gone out with some being paid into bank accounts whereas different prospects have been despatched cheques.One particular person reached out to Nationwide over social media to ask: “If I’ve received the big thank you £50 via cheque, can it be paid into a different bank (TSB) that’s in my name or does it have to be payed into Nationwide?”Nationwide responded to affirm that the cheque may be paid into one other present account fairly than their Nationwide account. But the supplier did point out one situation, you could solely do this “as long as the account is in your name”.Who is eligible for the £50 Nationwide fee?To qualify for the funds from Nationwide, you could have been a Nationwide member on September 30, 2024. You additionally nonetheless have to be a member when the fee goes out.You additionally need to meet one of these qualifying standards, that within the 12 months to the top of September 2024, you had both:
An individual might also be eligible for the money in the event that they accomplished a change to any Nationwide present account, between July 1 and September 30, 2024, utilizing the Current Account Switch Service.How is the £50 Nationwide fee being paid?If Nationwide will pay the quantity into a present account, immediate entry or restricted entry financial savings account in your title, you’ll obtain your funds this manner. These funds ought to have arrived by April 30.If not, mortgage prospects will get the £50 paid into the bank account used to pay their mortgage direct debit. These funds must also have arrived by April 30.All different funds will exit as cheques and these will probably be despatched out by May 14. You need to money these by January 1, 2026, to make sure you do not lose out on the money.
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