Martin Lewis issues urgent advice to Nationwide customers hoping to secure £100 bonus

Mr Lewis told Nationwide members to get organised before the key March 31 deadline, which historically determines eligibility based on how customers use their accounts during the first three months of the year.

The Fairer Share scheme has distributed billions to members in recent years, with payments funded by profits because Nationwide operates as a building society rather than a shareholder-owned bank.

Over the past few years, the bonus has typically been worth £100 per eligible member, with hundreds of millions of pounds shared across millions of customers annually.

Last year alone, around £385million was paid to approximately 3.85 million members, following earlier payouts of hundreds of millions in previous years.

The scheme is not guaranteed to return in 2026, but historically Nationwide has confirmed whether it will go ahead as part of its full-year results, typically announced in May.

If the bonus is confirmed, payments have historically been made during early summer after eligibility is assessed based on activity between January and March.

For existing Nationwide customers, Mr Lewis says there are three main steps to follow.

First, customers should avoid closing their current account before March 31, as maintaining an active account is a core requirement.

Second, customers must actively use their account during the first quarter of the year, with exact requirements depending on the account type.

For FlexAccount, FlexBasic and FlexDirect customers, this typically means paying in at least £500 and making at least two outgoing payments, or completing at least 10 outgoing transactions during the qualifying period.

Customers with FlexPlus packaged accounts normally qualify simply by continuing to pay the monthly fee.

Meanwhile, FlexOne, FlexGraduate and FlexStudent account holders usually only need to make at least one transaction in or out during March.

The third key requirement is holding at least £100 in Nationwide savings or owing at least £100 on a Nationwide mortgage by the end of March.

MoneySavingExpert guidance has previously suggested putting £100 to £200 into savings if customers do not already meet this threshold, to provide a buffer if rules change slightly.

For people who are not currently Nationwide customers, switching could potentially unlock both a switching incentive and eligibility for the Fairer Share payment if the scheme returns.

Nationwide has previously offered switching bonuses of up to £175 for customers moving to its FlexDirect account via the official Current Account Switch Service.

Switches usually take around seven working days, meaning customers considering moving banks should avoid leaving it until the final days of March.

However, even switchers have typically still needed to meet the savings or mortgage requirement by the end of March to qualify for the Fairer Share payment.

Customers should also be aware that previous Fairer Share payments have been treated as taxable savings income.

Most basic-rate taxpayers are unlikely to pay tax due to the personal savings allowance, but higher-rate taxpayers or those with significant non-ISA savings may need to consider the tax implications.

Mr Lewis’s warning comes as millions of customers face a short window to ensure their accounts meet eligibility criteria, with March 31 historically acting as the cut-off date for qualifying activity.

While Nationwide has yet to confirm whether the bonus will return this year, customers hoping to benefit are being urged to prepare early in case the scheme is repeated.

If confirmed, millions of Nationwide members could once again receive a summer cash boost simply for meeting everyday banking and savings requirements.

Customers are being encouraged to check their account usage now rather than risk missing out later if the payment is officially announced in the coming months.