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THE UK'S LARGEST BUILDING SOCIETY ISSUED A RESPONSE TO CUSTOMERS WHO ARE SET TO BE HANDED £200 PAYMENTS IN THE WAKE OF THE FAIRER SCHEME BEING ANNOUNCED. 12:50, 02 Jun 2025 Nationwide
has clarified rules around £200 payments being paid out as bonuses to customers. The UK's largest building society issued a response to customers who are set to be handed £200 payments
in the wake of the Fairer Scheme being announced. "If I take advantage of the £200 switch, do I have to notify people who pay in of my bank details or do you contact them?" one X
user wrote on social media. Nationwide said: "We’ll redirect payments from your old account. This means any payments still going to your old account, like your salary or pension, will
be redirected to your new account. READ MORE SMART MOTORWAYS COULD BE SCRAPPED FROM ENGLAND ENTIRELY "And we’ll tell the organisation making the payments about your new account
details." Nationwide added: "You should also let them know your new account details." Article continues below Nationwide announced £2.8bn of member value as it reports full
year results last week - and it includes £1bn of direct payments to eligible members and £1.8bn in better than average rates and incentives. The New Fairer Share Payment means over 4m
eligible members with current account & qualifying savings or mortgage get £100. Nationwide also launched a new market leading 5% Member Exclusive Bond and a £200 member switching
incentive. And Nationwide says it has been ranked number one for customer service for 13th year running amongst peers again. Debbie Crosbie, Nationwide’s Chief Executive, spoke out alongside
the announcement last week. Article continues below Ms Crosbie said: “Nationwide has had an outstanding twelve months. We returned a record £2.8 billion in value to our members and recorded
our highest ever year for growth in mortgage lending and retail deposit balances, and we remain first for customer service.” The Member Exclusive Bond is available from today to all 16
million existing members and can be opened in branch, online or via the Banking App. Members saving the maximum £10,000 would receive £762.50 in interest after 18 months - over £150 more
than they would receive over the same period in our next highest-rate bond (4% 1 Year Fixed Rate Bond).