Exact code to spot when £100 Nationwide payment lands in millions of accounts within weeks – will you be better off?
NATIONWIDE customers have been told the exact code to look out for to confirm a £100 payment has landed in their accounts.
The high street lender is giving away the cash as part of its Fairer Share programme.
The payment goes to members who bank with Nationwide regularly.
Those who have a savings account or mortgage product could also qualify.
Customers can expect the cash to land in their accounts between June 18 and July 4.
And there is a code that customers should look out for on their bank statements to ensure they have received the cash – it is Nationwide Fairer Share Payment.
But you must have opened a main current account with Nationwide by March 31 to get your hands on the money.
You would have needed to have £100 in savings or owe £100 on your mortgage by that date.
You also will need to have used your account within the first three months of this year.
This is the third year that Nationwide has given away free cash to customers.
Last year, it paid out a total of £385million to 3.85million customers and the year before £340million to 3.4million people.
Back in December, the building society’s boss confirmed it would make the payment for a third time.
It’s worth noting, the £100 Fairer Share payment is separate to the £50 issued to around 12million Nationwide customers between April 9 and May 14.
Recently the bank has also launched a new £200 switching offer to treat customers who sign up for its new bond.
Nationwide’s member inclusive bond is available to sign up to for all 16 million existing members and can be opened in branch, online or via the Banking App.
This is a fixed-rate savings bond available only to Nationwide members.
BANKING FREEBIES
Nationwide is not the only bank giving customers free cash.
TSB is giving new customers who switch to the high street bank a £100 switching incentive.
You get the £100 upfront but if you spend on your debit card for 20 times in the first six months you get a £15 a month cashback.
Santander has launched a new switching incentive to lure in customers.
As part of the deal, customers will receive £180 within 90 days of making the switch.
Cusomers need to pay £1,500 into the account within 60 days. This does not have to be deposited all at once.
Customers must also set up two active household direct debits on the new account.
This can include your council tax, mobile phone, home phone, broadband, paid-for TV packages, water, gas and electricity bills.
Co-op Bank is also paying £175 to new customers.
How do I switch bank accounts?
SWITCHING bank accounts is a simple process and can usually be done through the Current Account Switch Service (CASS).
Dozens of high street banks and building societies are signed up – there’s a full list on CASS’ website.
Under the switching service, swapping banks should take seven working days.
You don’t have to remember to move direct debits across when moving, as this is done for you.
All you have to do is apply for the new account you want, and the new bank will tell your existing one you’re moving.
There are a few things you can do before switching though, including choosing your switch date and transferring any old bank statements to your new account.
You should get in touch with your existing bank for any old statements.
When switching current accounts, consider what other perks might come with joining a specific bank or building society.
Some banks offer 0% overdrafts up to a certain limit, and others might offer better rates on savings accounts.
And some banks offer free travel or mobile phone insurance with their current accounts – but these accounts might come with a monthly fee.