Nationwide Building Society customers could claim free £275 cash bonus in 2026 - but who is eligible?

While it is not guaranteed the lender will resurrect the "Fairer Share" bonus for 2026, Britons are being urged to check the scheme's qualifying criteria ahead of the likely announcement date.

The scheme has previously been announced in May and paid to customers in June of the same year; with £400million being paid to four million Nationwide members last year.

On top of this, Nationwide Building Society is currently offering an additional £175 cash bonus to new customers who switch their bank account over to the financial institution.

Last year, Tom Riley, the director of Group Retail Products at Nationwide Building Society, broke down why savers should take advantage of the lender's latest offerings.

The building society director said: "It's never been more rewarding to be a Nationwide member, and that’s why we want to help more people benefit by offering this switching offer."

It should be noted that those curious about both the "Fairer Share" initiative and the account switch bonus will have to take action to stand a chance of being eligible for both.

Who is eligible for the free £100 Nationwide "Fairer Share" bonus?

If the building society's qualifying criteria for the initiative are the same in 2026, savers will have to ensure the following:

• They do not close their Nationwide Building Society account until at least March 31, 2026.
• Use their current account in the first three months of the year, including the FlexAccount, FlexBasic, FlexDirect, FlexOne, FlexGraduate, FlexStudent, or FlexPlus packaged account.
• Make sure they have at least £100 in savings or owe at least £100 on a mortgage with Nationwide in March 2026.

• FlexAccount, FlexBasic and FlexDirect customers have to pay at least £500 into their accounts and two payments out of the account, or make 10 payments out of the account, or complete a current account switch.
• FlexOne, FlexGraduate and FlexStudent customers have to make a payment in or out of your account in March 2026 or complete a current account switch.
• FlexPlus packaged account just have to pay the monthly fee.

How to claim Nationwide's free £175 switch bonus

New customers looking to move their money over to the building will need to carry out a couple of tasks to ensure eligibility for the cash bonus, which is only available for a limited period of time.

These include:

• Switching a non-Nationwide bank account to a new or existing FlexDirect, FlexAccount or FlexPlus proudct, with old accounts needing to have at least two direct debits to move over.
• Competing the transition through theCurrent Account Switch Service (CASS), which needs to be completed within 28 days.
• Paying in at least £1,000 and making one debit card payment within 31 days of account opening or applying to switch into an existing account. Restrictions apply.

Data from the CASS found that younger Britons, between the ages of 25 to 45 years old, remain the driving force taking advantage of current account switch deals in the UK.

John Dentry, the product owner at Pay.UK, owner and operator of the Current Account Switch Service, shared: "Our data tells a clear story, it is the younger generations assessing their current account options the most.

"As these groups are among the most acutely squeezed by prevailing financial headwinds, it’s positive to see they’re taking advantage of a healthy and vibrant banking market to find the best home for their cash.

"A banking provider is one of, if not the most important, financial partner someone will have in life, so it’s important to make sure the relationship is working. If it’s not, there’s a significant number of options out there to ensure an account suits the right needs."