Nationwide Fairer Share: What it is, how it works and who qualifies

The building society runs a scheme called Fairer Share, through which some eligible members receive a payment (for example £100) as part of the mutual’s aim to return value to its members rather than shareholders. It is important to note that the scheme is not guaranteed annually, and eligibility criteria apply. This article summarises publicly available information and does not constitute financial or tax advice.

What is the Fairer Share scheme?

In May 2025 Nationwide announced it would distribute a £100 payment to over 4 million eligible members under the Fairer Share scheme. Source: Nationwide — ‘Fairer Share’ page (Nationwide website) Nationwide
The scheme is described as a way the mutual can share its financial success with members who hold certain qualifying products and meet usage criteria.

In addition, Nationwide reported that it returned a total of £2.8 billion in value to members in the year, including both the Fairer Share payment and better-than-average rates and incentives. Nationwide

Who qualifies and what are the criteria?

According to Nationwide’s official terms and conditions for 2025: Nationwide

Qualification by 31 March 2025:

• Must hold a qualifying current account with Nationwide as of 31 March 2025.
• Then, to qualify either:
  • Have had a total of at least £100 in savings or cash ISAs in your sole or joint name at Nationwide at the end of any day in March 2025; OR
  • Owe at least £100 on a residential mortgage with Nationwide as of 31 March 2025 (commercial mortgages, certain subsidiaries excluded).
• Additional current-account usage criteria apply depending on account type:
  • For FlexAccount, FlexDirect or FlexBasic: In two of the three months Jan-Mar 2025, either received at least £500 in the account and made at least two outgoing payments, OR made at least ten outgoing payments.
  • For FlexOne, FlexStudent, FlexGraduate: Made at least one payment in or out in March 2025, OR completed a full current-account switch between 1 Jan-31 Mar 2025.
  • For FlexPlus: simply paying the monthly fee counts.
• Payment will be made into a current account with Nationwide between 18 June and 4 July 2025. If you do not have an open eligible account at the payment date, you will not receive it. Nationwide
• The payment is treated as savings income for tax purposes — Nationwide reports it to HMRC, but does not deduct tax. Nationwide
• The scheme is subject to board approval and the financial strength of the building society. There is no guarantee it will continue each year. Nationwide

Why does Nationwide run the Fairer Share scheme?

Nationwide describes its purpose as a mutual — owned by members rather than shareholders — which allows it to “give back” value. The Fairer Share scheme is part of this: Nationwide
In the 2025 announcement, the society said that it was able to return more than £2.8 billion to members in value (including the payment and better rates), helped by strong profits and growth. Nationwide

From a broader perspective, this can be seen as a differentiator among mutual institutions: offering members tangible benefits when the society performs well. However, it remains contingent on eligibility and retained earnings.

How large is the payment and how many members benefit?

• In 2025, over 4 million eligible members were set to receive a £100 payment each. Nationwide
• Financial-news sources estimate the total cost of the payment at around £400 million (4 million × £100). MoneySavingExpert.com
• In previous years:
  • 2024: around £385 million paid to 3.85 million members. MoneySavingExpert.com
  • 2023: around £340 million paid to 3.4 million members. Nationwide

This shows that while the payment is meaningful for eligible members, it does not cover all customers — Nationwide has around 16 million members. Wikipedia

Things members should check or be aware of

While the scheme offers a benefit, members should note:

• Eligibility matters: Holding a current account alone is not enough; you must also meet savings or mortgage criteria plus account-activity rules.
• Timing of account usage: Many criteria reference activity or balances at or by 31 March of the year. Closing accounts or changing them before this date may affect eligibility. MoneySavingExpert.com
• Account types excluded: Some subsidiaries or non-retail products may not qualify (e.g., some mortgages held via subsidiaries). Nationwide
• Payment is taxable: While many recipients may fall under the personal savings allowance and pay no tax, some may be liable — Nationwide treats the payment as savings income. Nationwide
• No guarantee of future payments: Nationwide emphasises the scheme depends on financial performance and board approval; future payments are not assured. Nationwide

What this means in the broader context

For many eligible members, the £100 payment offers welcome additional cash, especially in a time of cost-of-living pressures. It reflects the mutual model’s potential to share value with members directly. At the same time, the fact that only a subset of members receive it means that many long-standing customers may feel excluded, particularly if they do not also hold a savings or mortgage product.

From an organisational perspective, the scheme signals Nationwide’s financial strength and focus on member value. The announcement of returning £2.8 billion in value supports that narrative — however, it also sets expectations amongst members about future payouts and benefits.

Key take-away points

• The Fairer Share scheme gives eligible Nationwide members a one-off payment (for example £100 in 2025) if they held a qualifying current account and either savings or a mortgage product by a certain date.
• The scheme is part of Nationwide’s mutual business model, returning value when the building society performs well.
• Eligibility depends on product holdings, account activity, balances and timing; this means not all members qualify.
• The payment is treated as savings income for tax purposes.
• Future payments are not guaranteed and depend on the society’s financial strength and board decisions.

This article is provided for informational purposes only. It does not recommend any specific banking product, account or strategy, nor does it constitute financial or tax advice. Anyone interested in their eligibility or personal situation should consult the official terms and conditions, contact the building society directly or seek independent regulated advice.