Millions of Brits to be paid £100 bonus - check if you're eligible

A branch of Nationwide in a UK high street
-Credit: (Image: Bloomberg via Getty Images)

One of the biggest names on the high street is about to start paying £100 bonuses to its customers - starting next month.

Nearly 4million Brits are eligible to receive the tasty payout in June. And for many you won't have to do anything more than sit back and wait for the cash to land in your account.

It is part of Nationwide building society's Fairer Share scheme that means it gives a slice of the profits it makes back to its customers, who they refer to as "members".

Because it made a staggering £2billion in profit over the last tax year, a whopping £385million is going back to 3.85million Nationwide account holders.

A branch of Nationwide Building Society
Nationwide customers are in line for £100 payments starting next month -Credit:Amer Ghazzal/REX/Shutterstock

However, there are some eligibility rules you'll need to fulfil in order to get the £100 payment.

You need to have a qualifying current account, plus a mortgage or savings account with Nationwide - and the current account must have been opened on or before March 31, 2024.

And if you have a joint account, don't worry because that should be included in the scheme too. If you want to verify eligibility in detail, Nationwide have a checker on their website.

The cash handout is a repeat of last year's wildly popular Fairer Share scheme under which £340million was handed out to 3.4million Nationwide members.

Nationwide’s chief executive Debbie Crosbie said today: “Our strong financial performance means we are able to offer more ways for our members to benefit from our success. This is only possible because we are owned by members and all our profits are reinvested for their benefit.”