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Original poster

Nationwide Fairer Share Payment

60 replies

noaxetogrind · 19/05/2023 17:46

I can't find anything on the Nationwide website relating specifically to the 11-17 year old Flex-One account. I am hoping that as it is called a current account it qualifies for the £100 payment, but it would be nice to know.

Does anyone know anything further please?

OP posts:
Ostagazuzulum · 19/05/2023 19:22

That was a nice surprise when I got email.

What I found interesting was the option to opt out of getting the payment! Who on earth is saying no to £100?????!!!!!

MadisonAvenue · 19/05/2023 19:24

lemonyellows · 19/05/2023 19:10

Shame as we have had a mortgage with them for 19 years. Bah.

Yes, we’ve had various mortgages with them since 1991 but that’s the only product we have with them so don’t qualify.

hilbil21 · 19/05/2023 19:26

Ostagazuzulum · 19/05/2023 19:22

That was a nice surprise when I got email.

What I found interesting was the option to opt out of getting the payment! Who on earth is saying no to £100?????!!!!!

I know. Who in their right mind would say no. It's not even going to charity or anything lol.

AnneElliott · 19/05/2023 19:27

I was pleasantly surprised to get the email. I think DS missed out though as although he as the current account, his savings is in the future saver which is in my name and doesn't count. Even though the cash is held in trust for him.

SH23B · 19/05/2023 19:30

I have been cursing Nationwide since the day I switched to them, I only had money in the savings account because it was my work bonus and I wanted to keep it aside for something specific and it was such a hassle to transfer to one of my other accounts.
Was very pleasantly surprised to find I would be getting the £100.
Had planned to switch again in the near future but I'll stick with them (and their clunky user unfriendly app) for the time being.

Whatevergetsyouthroughthenight · 19/05/2023 19:32

I think that they may have shots themselves in the foot with this one for many customers. I have a current account which I keep quite a high balance in for reasons I won’t go into as they’re not relevant, it earns no interest and I am now pissed off with Nationwide that I don’t qualify as I don’t also have a savings account. I may walk.

Mumoftwoinprimary · 19/05/2023 19:34

This is reminding me of the Halifax shares. I was about 3 weeks short of 18 on the relevant date and so missed out on over £500 worth of shares in 1997. The really annoying thing was that if the account had a parent’s name on as well then you got the shares but my parents had taken themselves off a few years ago.

It still hurts!

Mumoftwoinprimary · 19/05/2023 19:36

Mumoftwoinprimary · 19/05/2023 19:34

This is reminding me of the Halifax shares. I was about 3 weeks short of 18 on the relevant date and so missed out on over £500 worth of shares in 1997. The really annoying thing was that if the account had a parent’s name on as well then you got the shares but my parents had taken themselves off a few years ago.

It still hurts!

I’ve just googled it! They were worth £1469! £1469! That was more than a term’s grant and loan when I went to university that autumn!

WhatWouldTheDoctorDo · 19/05/2023 21:04

My 14 year old was very excited to discover they qualified. Not as much as I was when I realised both DH and I qualify. Nice little bonus before our summer hols!

InDreamland · 19/05/2023 22:25

I got the email too, lovely surprise. Nothing flashed up on the app for me though

Intemperatefatty · 19/05/2023 23:09

So hang on, DH and I have a joint account and a joint mortgage with the Nationwide. I got an email today about qualifying for the £100 and assumed it was per account. Are we saying it’s per person, so we should each get £100??

QuintanaRoo · 19/05/2023 23:34

Mumoftwoinprimary · 19/05/2023 19:36

I’ve just googled it! They were worth £1469! £1469! That was more than a term’s grant and loan when I went to university that autumn!

Show quote history

I managed to buy a house in 1997 at 21yo due to building society dividends when they were doing this, literally paid my deposit.

WhatWouldTheDoctorDo · 20/05/2023 00:16

Intemperatefatty · 19/05/2023 23:09

So hang on, DH and I have a joint account and a joint mortgage with the Nationwide. I got an email today about qualifying for the £100 and assumed it was per account. Are we saying it’s per person, so we should each get £100??

I assumed the same for us, but when I read the t's & c's it seems like we both get a payment as we're classed as individual members despite our joint accounts.

roses2 · 20/05/2023 00:26

AnneElliott · 19/05/2023 19:27

I was pleasantly surprised to get the email. I think DS missed out though as although he as the current account, his savings is in the future saver which is in my name and doesn't count. Even though the cash is held in trust for him.

My two have a smart saver and junior isa. Would they also qualify? I only got one email for me.

hilbil21 · 20/05/2023 10:07

Intemperatefatty · 19/05/2023 23:09

So hang on, DH and I have a joint account and a joint mortgage with the Nationwide. I got an email today about qualifying for the £100 and assumed it was per account. Are we saying it’s per person, so we should each get £100??

Yeah you both get it. If it is joint, you're both classed as members. Each member gets it, not each account.

Intemperatefatty · 20/05/2023 10:13

hilbil21 · 20/05/2023 10:07

Yeah you both get it. If it is joint, you're both classed as members. Each member gets it, not each account.

Show quote history

That’s ace, thanks. DH confirmed he also got the email, it went into his spam folder. So good of Nationwide to share their profits like that. We’ve banked with them for many years and never had any problems. The travel insurance that comes with the flex plus account is excellent too.

Fallulah · 20/05/2023 10:30

Bit miffed - my mortgage and savings are with Nationwide but not my current account!

LakieLady · 20/05/2023 10:47

I'm a bit disappointed, I've had a Nationwide current a/c for 40 years, but paid my Nationwide mortgage off 10 years ago. My savings are with Santander, as they were (and are still, I think) paying a better interest rate.

I won't be getting a penny, despite being such a loyal customer!

starpatch · 20/05/2023 16:52

I am getting it. I will have to do a tax return next year can I ask how it counts for tax purposes? Is it a dividend?

adularia · 20/05/2023 17:04

I’m disappointed because my current and savings accounts are with them but because I get less than £500 a month paid in I miss out. As I don’t get much per month I could really do with a bonus £100!

adularia · 20/05/2023 17:06

adularia · 20/05/2023 17:04

I’m disappointed because my current and savings accounts are with them but because I get less than £500 a month paid in I miss out. As I don’t get much per month I could really do with a bonus £100!

And I’ve been with them for 25+ years and used to have much more paid in per month for many years, obviously my current circumstances have changed.

bookgirl1982 · 20/05/2023 18:01

It's savings interest for those who do tax returns.

AlmostAJillSandwich · 21/05/2023 06:01

I assume the criteria is so specific so it is to "give back" to those whose current account cash flow and ammount in savings/mortgage interest is beneficial to earning them money in the borrow/lend cycle.
It's a shame for their customers who don't qualify, but a nice loyalty bonus for those who keep all, or atleast their main financial products with them.

starpatch · 27/05/2023 20:47

Thanks bookgirl1982

Intemperatefatty · 14/06/2023 16:33

Have any of you started receiving the payments yet? We received two payments yesterday, one to our joint FlexPlus account and another for my FlexAccount. The payment to the FlexAccount completely surprised me as I only put £200 a month in there for fuel so didn't think it'd be eligible.

Based on what I'd learned here and what Nationwide themselves say, we should have received two payments into our FlexPlus account as this is our joint account and its meant to be one payment per account holder. However, we've only got the one. DH got notification that the payment had been to made to the joint account and I got a text about the payment to FlexAccount, which is only my name.

I'm going to wait till 30 June to see if we do indeed get another one in our joint account but it won't be surprised if the second payment has been misapplied to my FlexAccount.