Nationwide has notified its customers that they have a limited timeframe of three weeks to claim a £50 payment, a gesture of appreciation linked to its acquisition of Virgin Money. This initiative, termed “The Big Nationwide Thank You,” has allowed over 12 million eligible members to receive the payment, which began rolling out in April 2025.
The £50 payments were made as part of a strategy to express gratitude to members for their role in strengthening Nationwide’s financial position, which facilitated the acquisition of Virgin Money. As of now, the bank has confirmed that all payments have been processed. However, customers who requested their payments via cheque must deposit them by January 1, 2026, to avoid forfeiting the funds.
Eligibility and Payment Details
To qualify for the £50 payment, customers needed to be members of Nationwide as of September 30, 2024, and remain members at the time of payment. Additionally, members had to satisfy specific criteria during the 12-month period leading up to the end of September 2024.
Those who switched to any Nationwide current account between July 1 and September 30, 2024, using the Current Account Switch Service, also met the eligibility requirements. For those interested in the complete details, including potential exclusions, Nationwide encourages members to review the terms and conditions.
Payments were deposited directly into current accounts or savings accounts in the member’s name. For customers with mortgages, the £50 was credited to the account used for their mortgage Direct Debit, provided that account is also in their name. All other payments were issued by cheque, which must be cashed before the stated deadline.
Next Steps for Customers
Nationwide has communicated with eligible members regarding their payments. If members believe they qualify but have not received any notification, there are methods available to check their eligibility.
The £50 payment initiative is distinct from Nationwide’s Fairer Share Payment, which members can find more information about on the organization’s Fairer Share Payment page.
Nationwide’s commitment to rewarding its members reflects its aim to foster loyalty and strengthen its position within the UK banking sector following the acquisition of Virgin Money, which was finalized on October 1, 2024. According to the bank, the total distributed to members as part of “The Big Nationwide Thank You” amounts to over £600 million, highlighting the scale of this initiative and the importance of its customer base.
