Nationwide Building Society just dropped a £100 cheque into the accounts of more than four million of its members. Between 18 June and 4 July 2025, the building society moved a staggering £400 million through its Fairer Share scheme – the biggest payout it has ever made under the programme.
That cash didn’t appear out of thin air. Nationwide reported a record £2.3 billion in statutory profit for the year ended 31 March 2025, a 30 % lift on the £1.8 billion it posted the year before. Chief executive Debbie Crosbie called the period an "outstanding twelve months" and pointed to a total £2.8 billion return to members, mixing direct payments, better‑than‑average rates and one‑off incentives.
How the Fairer Share Scheme Works
Getting the £100 isn’t a lottery – it’s tied to a clear set of eligibility rules. To qualify, you had to hold an active Nationwide current account on 31 March 2025 and also have either a savings account or a mortgage with the society. For younger customers on FlexOne, FlexStudent or FlexGraduate products, there was an extra hurdle: at least one transaction in or out of the account during March 2025. Moves made through the Current Account Switch Service between 1 January and 31 March didn’t count toward that requirement.
If you owned more than one current account, the payment would land in any of them, with a preference for sole‑name accounts when possible. The money showed up on statements as "Nationwide Fairer Share Payment" and was delivered by electronic transfer – no paper checks, no extra steps for members.
Why Nationwide Can Keep Paying Out
Unlike a typical commercial bank that pockets profits for shareholders, Nationwide is a mutual building society. That means its customers are also its owners, and the organisation is legally obliged to share surplus earnings with them. The Fairer Share scheme is the most visible expression of that duty.
Since the programme kicked off in 2023, Nationwide has handed out more than £1 billion in direct payments, better rates and incentives. The first round in 2023 reached 3.4 million members, 2024’s payout went to 3.85 million people for a total of £385 million, and this year’s £400 million payment pushed the tally even higher.
But the payouts are not guaranteed – they sit on a conditional foundation of strong financial performance. The society’s record profit allowed it to also fund a separate £615 million "Thank You" reward linked to its takeover of Virgin Money earlier in the year. Plus, members benefitted from a market‑beating 5 % savings bond and a £200 incentive for switching their main account to an eligible Nationwide current account.
All of this adds up to a competitive edge that shows up in customer satisfaction scores. Nationwide consistently tops the high‑street banking charts for member happiness, a metric that feeds back into its ability to generate profit and, in turn, keep the Fairer Share payments flowing.
Looking ahead, the building society says it hopes to continue the tradition of annual payouts, but each year will depend on how the balance sheet looks at year‑end. For now, members can enjoy the extra £100 in their pockets and the reassurance that their banking provider is still fundamentally built around sharing the upside with the people who keep it running.
