{"id":18531,"date":"2025-04-14T06:30:18","date_gmt":"2025-04-14T06:30:18","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/18531\/"},"modified":"2025-04-14T06:30:18","modified_gmt":"2025-04-14T06:30:18","slug":"nationwide-50-payment-loophole-means-you-could-miss-out-despite-being-a-loyal-customer","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/18531\/","title":{"rendered":"Nationwide \u00a350 payment loophole means YOU could miss out despite being a loyal customer"},"content":{"rendered":"

A LITTLE-known loophole could result in you missing out on Nationwide’s \u00a350 “Thank You” payment.<\/p>\n

Earlier this week, over 12million customers began receiving their payments<\/a>.<\/p>\n

\"Nationwide<\/a><\/p>\n

1<\/p>\n

The frontage of a branch of the Nationwide Building Society. Two automated teller machines (ATMs) are available for use.Credit: Getty<\/p>\n

However, approximately five million customers will not be receiving the cash<\/a>, as they did not meet the eligibility criteria.<\/p>\n

The\u00a0“Big\u00a0Nationwide<\/a>\u00a0Thank You”\u00a0payment is being issued to customers\u00a0as a gesture of gratitude to its members for their contribution to the successful\u00a0acquisition of Virgin Money<\/a>.<\/p>\n

Nationwide first announced that it had\u00a0agreed to a \u00a32.9billion deal to take over Virgin Money<\/a>\u00a0in March 2024.<\/p>\n

The deal was finalised in October 2024, following the required approvals from regulators and Virgin\u00a0Money<\/a>\u00a0shareholders.<\/p>\n

However, Nationwide customers were not given the opportunity to vote on the deal.<\/p>\n

This led to dissatisfaction among some members, with a number expressing their concerns over the Virgin Money acquisition and even petitioning for a vote on whether the sale should proceed.<\/p>\n

While nothing changed straight away for customers of either bank, there could be some changes in the\u00a0future<\/a>\u00a0as the Virgin Money brand is slowly phased out over the\u00a0next<\/a>\u00a0six years.<\/p>\n

The acquisition of Virgin Money means Nationwide now serves over 24.5million customers, employs more than 25,000 staff, and operates nearly 700 branches.<\/p>\n

“Thank You” payments began appearing in bank accounts from April 9, but eligible members may need to keep checking their banking apps<\/a> until April 30.<\/p>\n

For those who do not receive the payment directly into their account, there is a possibility that a cheque will be issued, which could arrive as late as May 14.<\/p>\n

Inside the hubs restoring high street banking and reversing the tide of mass branch closuresWho will miss out on the payment?<\/p>\n

To be eligible for the\u00a0cash<\/a>\u00a0you must have been a Nationwide member on September 30, 2024 and still currently be a member.<\/p>\n

Meanwhile, in the year to the end of September 2024 you must also have:\u00a0<\/p>\n