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CUSTOMERS AT THE BIG FOUR BANKS WHO ARE HOPING FOR A BONUS PAYMENT - AFTER NATIONWIDE PAID OUT £100 BONUSES TO MEMBERS - HAVE BEEN TOLD THEY'LL BE WAITING A LONG TIME. 06:46, 30 May
2025 A warning has been issued to anyone who's a "loyal" Barclays, HSBC, NatWest or Lloyds customer. Customers at the big four banks who are hoping for a bonus payment - after
Nationwide paid out £100 bonuses to members - have been told they'll be waiting a long time. Aaron Peake, personal finance expert at free credit score app CredAbility, said: "I
think it’s fair to say this move from Nationwide will put pressure on other banks to show their loyalty too. "Customers are fed up with rising fees, lower interest rates on savings, and
limited perks, so when a building society like Nationwide gives something back, it doesn’t go unnoticed." READ MORE LLOYDS BANK BRINGS IN BIG CHANGE AND ANYONE WHO IS IN A
'COUPLE' WILL BENEFIT Nationwide returned a record £2.8 billion in value to members last year, including £1 billion in direct payments to eligible members. It also delivered £1.8
billion in better than average rates and incentives, with deposit rates over 30 per cent higher. Article continues below It announced a new Fairer Share Payment on Thursday, with over four
million members receiving £100 each. The payment goes to eligible members choosing Nationwide for their everyday banking, in addition to holding a qualifying savings or mortgage product. It
will be paid directly into their Nationwide current account between 18 June and 4 July. Mr Peake said: "If one or two start doing it, it could spark a new trend in loyalty bonuses, or
at least seasonal one-offs. "But we shouldn’t expect them all to suddenly hand over money. Traditional banks like Barclays, HSBC, Lloyds and NatWest are more likely to compete through
switching incentives rather than paying out to existing customers." Article continues below He explained: "Sometimes these offers come with hoops to jump through, like having to
pay in a set amount each month or setting up a minimum number of direct debits. You should also check what ongoing benefits the account offers, like cashback, interest on your balance or
fee-free overdrafts. A one-off bonus is nice, but it doesn’t always mean better value long term." He urged: "If you’ve been with the same bank for a long time and never received a
perk or bonus, now’s a good time to shop around. ""Some of the best current account deals right now are offering £175 or more to switch, and they can often be done in just seven
days through the Current Account Switch Service."