When Nationwide acquired Virgin Bank in October last year, millions of eligible customers were issued with a ‘Thank You’ payment of £50 each.
The cash, totalling over £600 million, was distributed from April 2025 to show gratitude to the 12 million members who helped enable the buyout with their loyal custom.
But although Nationwide has confirmed all payments have been issued, a number of recipients could still miss out if they don’t claim what they’re owed soon.
According to the building society, those who chose to receive the money via cheque have just three weeks to deposit it, otherwise the money will be lost entirely.
The deadline to cash cheques sent as part of ‘The Big Nationwide Thank You’ is January 1, 2026 – but since banks will be closed on New Year’s Day and at various points over the Christmas period, there’s even less time to act.
Nationwide also highlighted that qualifying customers who haven’t received any updates have until this date to get in touch and confirm their details, either through online banking or by visiting one of its branches.
Who was eligible for the Nationwide Big Thank You payment?
First thing’s first, It’s important to note that this is separate from Nationwide’s 2025 Fairer Share Scheme; an annual May payout whereby £100 is added to accounts, ‘depending on financial performance.’
This particular payment of £50 was issued to any member who had a savings, current account, or mortgage at the end of September last year.
To qualify, individuals needed to have completed at least one transaction in their current or savings account, or maintained a balance of at least £100 in their current account, savings, or mortgage, within the 12 months leading up to September 30, 2024.
They must also have continued to hold their accounts or mortgage by the the time the payments were made in April 2025.
Nationwide said in a statement: ‘On October 1, 2024, we completed the purchase of Virgin Money, becoming an even stronger force in UK banking. This was made possible by the financial strength Nationwide members helped us build.
‘To say thank you, we’ve given over 12 million of our members £50 each.’
When were the Nationwide Big Thank You payments made?
Nationwide Big Thank You payments began going out from April 9, 2025, with payments completed by April 30.
The building society explained at the time: ‘Members with a Nationwide current account or instant and limited access savings will be paid directly into their accounts by the end of April.
‘For mortgage members, Nationwide will pay the current account used to pay their mortgage Direct Debit by the end of April. Where this is not possible, or for any other mortgage payment type, a cheque will be issued by May 14.’
Other qualifying members – such as those with ISA and Bond accounts – would also have received their cheque by May 14.
If you think you met the criteria but haven’t heard from Nationwide, or have an issue with your payment, you should contact the bank’s customer service team.
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