Nationwide is giving over 12 million of its customers a share of over £600 million to thank them in celebration of the purchase of Virgin Money, an announcement delivered by Sir Trevor McDonald.
‘The Big Nationwide Thank You’ will gift customers with £50 each as a gesture of gratitude for their role in making the acquisition of Virgin Money possible.
Nationwide completed its acquisition of Virgin Money in October 2024 to create the UK’s second largest provider of mortgages and savings accounts.
Nationwide said its financial strength, built with the support of its members, enabled the acquisition of Virgin Money. This has made Nationwide even stronger, allowing it to extend the benefits of mutuality to more people across the UK.
To thank members for their support in making this possible, Nationwide has launched its gifting campaign. Renowned veteran journalist McDonald came out of retirement to deliver the message to customers in a newsroom-style announcement video on LinkedIn.
The ‘Thank You’ payment is the latest example of Nationwide’s mutual difference, which aims to offer even more value back to its members.
Debbie Crosbie, CEO of Nationwide, said: “Nationwide became even stronger when it bought Virgin Money and we are already improving services for its customers. The Big Nationwide Thank You recognises the role our members played in building the financial strength that made the deal possible. It’s another of the very real benefits of being a member of Nationwide and our modern mutual model.”
Payments will be made from April 9 to members who had a savings or current account, or mortgage, as of the end of September last year.
To qualify, they must have made at least one transaction on their current or savings account or had a balance of at least £100 in any of these accounts or their mortgage within the 12 months leading up to September 2024. Members must also still hold their accounts or mortgage.