Nationwide Fairer Share

[elkiedee]

Nationwide has announced their Fairer Share payment today. They are giving lots of members £100 each, including DP (for the first time), our two sons and me (for the 3rd or 4th time/year.

If you haven't qualified, it's too late for this year but you've got a few months to decide whether it's worth applying for accounts you don't have and juggling your money around - it doesn't take that long to research and do for £100. Though it is apparently counted as interest if you would pay tax on £100 extra interest.

DH and I have current, savings and mortgage with them so will each get the payment again. Last year, DS got a payment too, but I don't think he will this year as he only has a current account and no savings.

I've qualified each year but haven't heard anything yet for this year....🤞!

Me too.

Think I have missed out by not making two deposits over £500 in first three months.

That's reassuring!

You need a current account with either a savings account or a mortgage with them.

I qualified this year as I made a concerted effort to keep £100 in my savings across March 🤣

I switched to NW last month for this reason. Hopefully I will benefit next year.

I had to top up DD’s savings to make sure she got it, and make some transfers between accounts to meet the criteria for myself and DH (we had the premium account last year so the criteria were different).

I've got a current account and savings and we also have joint savings. Both my sons have accounts too so across the family we should get £400.
Boom

I have the £18 a month account so fairly happy to be honest!

Hmmm.. i usually get this but haven't had an email.

I seem to match all criteria.

Anyone else?

Do you use your current account regularly, even just for really small amounts of money? Because I qualified and I definitely didn't put £500 in to my account for 2 of 3 months. I did try to make a few eligible transactions a week, like 2 or 3, but I wasn't sure until the email came round that I'd even managed to do that!

Only a monthly transfer to savings account.

Yes, a couple of us above.

Ds had a notification on the app yesterday.

Just FYI, if you don't have a Nationwide account but do have Virgin Money accounts, then you are now a member of Nationwide. Doesn't impact this year's fairer share, but would make you eligible next year if you meet the criteria

Me too - I use nationwide as my main account and definitely qualify

Apparently Nationwide is rolling eligibility messages out up to 30th May. So if you've not heard yet that doesn't mean you won't.

Do your savings qualify? You don't have to leave them in a low rate account. You could put £100 into the Regular Saver - you don't HAVE to put the maximum in every month - and leave it there. If tax is a concern but you have disposable income, and you haven't maxed out your ISA, there are fixed rates offering a good rate. Or you can take a lower rate for £100+ and save anything else elsewhere.

Yes it was an unexpected surprise when I found out yesterday

I annoying don’t get it.

I pay £200 into it each month to pay for a few treats .

i also use it for buying and selling on Vinted.

so I didnt manage to have 2 months with £500 coming in (just under) and the 2 months with 10 transactions.

frustrating.

My main salary goes into the current account so approx £3k per month + phone bill and a couple of other DD comes out. So definitely should be eligible.

That’s good to know thanks!

It seems unfair then that I know I'm getting it before you do, as it's not my main account and I've moved most of my savings to the Coventry because I like the motivation of monthly interest and the balance of rates vs access. I don't have the income to max my ISA allowances and Premium Bonds like some here my age, just to do the best I can with what I can put aside and I quite enjoy following money advice stuff and hanging out on places like here and MSE forums, and having a gamble which is not going to risk all my savings.