Nationwide loyalty payments 2024

[gryffron]

I have kept on cycling £750 a month through my flexaccount, manual FP deposit followed by manual FP out, and this certainly counted as a "payment out". (£750 used to be the criteria to get the free travel insurance back in the day).

For most accounts it is(was) TWO payments out.
https://www.nationwide.co.uk/about-us/f ... onditions/

In two of the three months of January 2024, February 2024 and March 2024, you must:
have received at least £500 into your current account (transfers in from other Nationwide accounts do not count), and
have made at least two payments out of your current account.

Anyhow, thanks for highlighting this. I'd not noticed despite sitting on a flexaccount for decades. Just need a savings account.

Gryff

[Gerry557]

Well I received a couple of Big Thank You payments today and hopefully some loyalty payments pending for 2025.

Could it be that I will make more cash with this than all my investments this year. I'm not sure where to spend it. I think I might book a tariff free holiday.

[swill453]

I had just estimated my untaxed interest for this year at £940 when this arrived, I assume it's taxed as interest too? So that will make my estimate £990, highly suspiciously just £10 under the allowance

Scott.

[Gerry557]

I had just estimated my untaxed interest for this year at £940 when this arrived, I assume it's taxed as interest too? So that will make my estimate £990, highly suspiciously just £10 under the allowance

Scott.

No a waste of A tenners allowance

[Dicky99]

I too got a text this morning notifying of a £50 bonus as a "big thank you".
I doubt it, but I did wonder if there was any connection to the email complaint I sent them last year, when I didn't qualify for their "loyalty bonus" despite having a savings account for 30 years and a mortgage for 25 years.
Ironically in disgust I withdrew all but tuppence ha'penny of my savings.

[swill453]

I too got a text this morning notifying of a £50 bonus as a "big thank you".
I doubt it, but I did wonder if there was any connection to the email complaint I sent them last year, when I didn't qualify for their "loyalty bonus" despite having a savings account for 30 years and a mortgage for 25 years.
Ironically in disgust I withdrew all but tuppence ha'penny of my savings.

No this is different from the loyalty one. Just about everyone gets it. My wife and I got one each, even though we only have one joint account.

Scott.

[Gerry557]

No it's a different payment. I advised someone else to move their saving from nationwide as they didn't get the loyalty payment, mainly because they transferred from a nationwide account. Now its transferred from an external provider they get the loyalty payment by being disloyal.

Details of this payment.


https://www.nationwide.co.uk/about-us/t ... -you/terms

[Nimrod103]

I too got a text this morning notifying of a £50 bonus as a "big thank you".
I doubt it, but I did wonder if there was any connection to the email complaint I sent them last year, when I didn't qualify for their "loyalty bonus" despite having a savings account for 30 years and a mortgage for 25 years.
Ironically in disgust I withdrew all but tuppence ha'penny of my savings.

No this is different from the loyalty one. Just about everyone gets it. My wife and I got one each, even though we only have one joint account.

Scott.

This is what I find so ridiculous about mutual organisations - everything is so arbitrary. I have a current account with Nationwide, and therefore missed out the previous time they gave a bonus on what I regard as a technicality. I received the bonus this time, though why it is only £50 I have no idea. It is just a bung to keep disgruntled members quiet while a IMHO quite illogical purchase of another organisation (whose only asset IMHO seems to be a bunch of savings accounts) has gone through on the nod. Nationwide should have looked towards increasing their own historically low yielding accounts, and attract investors with better returns.