Swindon-based Nationwide Building Society, has sent letters to a significant number of its customers, informing them that they will receive a £100 reward next month.
The distribution of a £340 million fund is set to take place in June as part of the Nationwide Fare Share initiative after Nationwide had its best-ever financial results, with a pre-tax profit of £2.2 billion for the last tax year.
To qualify for the reward, customers must have maintained a Nationwide current account since at least March 31st and kept it open until June.
Additionally, they should have had a minimum of £100 in Nationwide savings accounts or owed at least £100 on a Nationwide residential mortgage on March 31st.
While the initiative aims to provide a bonus to loyal members, the inclusion of specific criteria means that individuals who have been saving with Nationwide for years will miss out if they lack a current account.
Similarly, those who hold only a Nationwide current account will not be eligible for the bonus. Consequently, around 12 million customers, do not meet the necessary requirements for the reward payment and will miss out on the bonus payment.
