Nationwide Fairer Share Payment Terms and Conditions 2025

We are a building society not a bank, which means we can do things differently. Unlike our banking peers, we share some of our profits with eligible members. We will do this by making a one-off payment of £100 to those who qualify. We have called this the Nationwide Fairer Share Payment, but we refer to it as ‘the payment’ below.

These terms and conditions explain who qualifies. They also tell you how the payment will be made and our understanding of how it is treated for UK tax purposes.

We would like to make a Fairer Share Payment every year, but this will depend on how we perform financially. These terms and conditions only apply to the payment we are making in 2025. The amount of any payment and the eligibility criteria may change from year to year, so you should always refer to the terms and conditions for the year of the payment.

To be eligible, you must have had one of the following product combinations:

• A qualifying current account and qualifying savings
• A qualifying current account and a qualifying mortgage.

You can find out whether you had a qualifying current account in section 2; qualifying savings in section 3 and a qualifying mortgage in section 4.

There are some additional exclusions we explain in section 7. For example, you won’t be eligible to receive the payment if you don’t have a Nationwide current account that we can pay it into.

If you are eligible, you will only receive one payment of £100.

To be a qualifying current account, your account must have been open on 31 March 2025 and any additional requirements depend on the type of current account you had on that date.

A qualifying current account must be one of the following:

Qualifying current accounts do not include a current account with one of our subsidiaries, such as Clydesdale Bank plc (which also trades as Virgin Money or Yorkshire Bank).

You will have had qualifying savings if you had at least £100 in total in one or more personal savings accounts or cash ISAs with Nationwide at the end of any day in March 2025.

Qualifying savings do not include:

• Money you held in a Nationwide Business Savings account (including money held in BusinessInvestor, PortfolioInvestor and Treasurer’s Trust accounts).
• Money or other assets held in a Nationwide Investment account, such as a stocks and shares ISA.
• Money or other assets held in an account with one of our subsidiaries, such as Clydesdale Bank plc (which also trades as Virgin Money or Yorkshire Bank).
• Money in an account in the name of someone else that is being held for your benefit under a trust or similar arrangement. For example, if money is held in a Smart or Future Saver account in the name of a parent but for the benefit of a child, the money in the account will only count towards the parent’s qualifying savings. Money in a Child Trust Fund or Smart Junior ISA is held in an account in the name of a child and therefore the money will count towards the child’s qualifying savings. It will not count towards the Registered Contact’s qualifying savings unless they are also the child account holder.

To be a qualifying mortgage, you must have owed us at least £100 on your Nationwide residential mortgage on 31 March 2025.

Qualifying mortgages do not include:

• A mortgage with one of our subsidiaries such as Clydesdale Bank plc (which also trades as Virgin Money or Yorkshire Bank), The Mortgage Works (UK) plc, UCB Home Loans Corporation Limited, Derbyshire Home Loans Limited, or E-Mex Home Funding Limited.
• A mortgage you applied for, but which had not completed by 31 March 2025.
• Nationwide commercial mortgages.

If there is more than one account holder, each of you will be a member of Nationwide, so these terms and conditions apply to each of you individually. This means that if a qualifying current account, or qualifying mortgage is in joint names, the product and the whole of any balance will count towards each individual’s eligibility for the payment.

For example, if you hold both a qualifying current account and a qualifying mortgage jointly with someone else, you will both be eligible to receive the payment.

Similarly, qualifying savings will take account of the whole of any savings and cash ISA balances you hold in your sole name and those you hold jointly.

You may be running an account for someone else that is held in the other person’s name, for example under a power of attorney, a third-party mandate, or an order of the court. Where this is the case, the account will not be counted as your qualifying current account or qualifying mortgage, and the money in any savings account or cash ISA will not count towards qualifying savings for you. The accounts and money will still count for the person you are acting on behalf of whose name the account is held in.

You will not be eligible to receive the payment if any of the following apply:

• You do not have a Nationwide current account that allows payments into it, on the day we make the payment. This current account does not need to be a qualifying current account.
• We are notified of your death.
• We reasonably believe that one or more of your accounts has been used for illegal or fraudulent purposes.
• By making the payment, we reasonably believe we may:
  • break a law, regulation, code, court order or other duty
  • be exposed to action from a regulator, government, or law enforcement agency.
• We have written to you saying that we will be closing your current account.

We may also refuse to make the payment if:

• we are engaged in ongoing legal proceedings with you or are taking steps to repossess your property
• we have written off money that you owed to Nationwide.

We plan to make the payment of £100 to all eligible members between 18 June 2025 and 4 July 2025.

We will pay the money into your Nationwide current account by electronic transfer. If you hold more than one current account with us, we may pay the money into any of those accounts. We will pay the money into an account in your sole name if you have one and will pay it into a joint account if you do not.

The payment will appear on your current account statement as Nationwide Fairer Share Payment.

We will not make the payment in any other way and if you do not have an open Nationwide current account when we try to make the payment, you will not be eligible to receive it (see Section 7 ‘What other exclusions apply?’ above).

The payment is treated as interest for UK income tax purposes. We are not required to deduct any tax from the payment, but we will report it to HM Revenue & Customs (HMRC).

You may be liable for income tax on the payment, depending on whether the total amount of interest you have received in the tax year is more than your Personal Savings Allowance. You can find out more about your Personal Savings Allowance at nationwide.co.uk/psa

This tax information is based on our understanding of current law and HMRC practice applying to UK resident taxpayers. Current law and HMRC practice may change. For more information visit hmrc.gov.uk (opens in a new window).

Nationwide takes no responsibility for tax advice and if you are in any doubt, you should seek your own tax advice.

If you do not want to receive the payment for any reason, you can choose not to. You will need to let us know, no later than 16 June 2025, by:

• calling us on 0330 123 9734, Monday to Friday between 9am and 5pm, Saturday between 9am and 2pm, or
• by visiting us in branch.

Once you have chosen not to receive the 2025 payment, you will not be able to change your mind.

If you chose not to receive the Nationwide Fairer Share Payment in 2023 and/or 2024, you will still need to let us know again if you don’t want to receive the payment this time.

We will decide whether you are eligible for the payment based on the information we hold about you and the products you have with us.

We always do our best to ensure that the information is accurate and complete, but incomplete, inaccurate, or out of date information may mean we wrongly exclude you from the payment. We will make the payment if we find out you were wrongly excluded, but we will not be liable for any other loss you may incur if this happens.

We also cannot guarantee how quickly an application for a qualifying product might be completed and therefore will not be responsible if you miss out on the payment because of a delay in opening a relevant product.

If, after checking your eligibility, you think you have been wrongly excluded, please get in touch and if we have got it wrong, we will take steps to put it right.