Nimrod103 wrote:stacker512 wrote:Not everyone will get the fairer share payment - I don't think I will since I dont have a savings or mortgage product with them (but I do have the current account with them).
Then it can hardly be called a fairer share payment, because it is blatantly unfair to those who only have a current account with Nationwide. No matter how much they have in their accounts.
Personally I have avoided Nationwide savings products for some time because their interest rates (ISTM) have been at the bottom end of banks/building societies.
If it is only available to those with a share in the institution it can validly be called a fairer share payment. There are multiple meanings of the word share, and in this context the membership (or ownership) of the institution is what is being referred to. It is perfectly normal for current account and mortgage holders to have a "share" whilst regular savers don't. The amount in the account is (usually) irrelevant to that "share" status.
In the past it was common to have share accounts and savings accounts literally describing that difference - with the terms and conditions of each describing that different legal relationship.