Britain’s biggest building society has announced an unprecedented giveaway for millions of customers

Millions of Nationwide customers have been told the dates to look out for bonus payments landing in their bank accounts.

Britain’s biggest building society has announced a huge giveaway which will see most of its customers get free £50 payments.

Bosses said it was a “thank you” following Nationwide’s takeover of Virgin Money.

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Over 12 million people will get the payments as part of an unprecedented cash giveaway.

The cash will start dropping into bank accounts from April 9 and it’s thought most eligible households will have the cash by the end of April.

The money will go to customers who had a savings or current account, or mortgage, at the end of last September.

They must also have made at least one transaction on their current account or savings, or had a balance of at least £100 in their current account, savings or mortgage in the 12 months to the end of September 2024.

Crucially, they must also still have their accounts or mortgage at the time the payment is made.

Debbie Crosbie, Nationwide CEO, said: “Nationwide became even stronger when it bought Virgin Money and we are already improving services for its customers.

“The Big Nationwide Thank You recognises the role our members played in building the financial strength that made the deal possible. It’s another of the very real benefits of being a member of Nationwide and our modern mutual model.”

The giveaway and Nationwide’s apparent strong position will raise hopes the building society will also bring back its Fairer Share scheme this summer.

This has issued free £100 payments to millions of customers over the last couple of years.

Nationwide is expected to announce in May whether it will be running the giveaway again in 2025.