Nationwide: Millions of customers see £100 free bonus payment deposited in current accounts from today

However, many customers will be left disappointed as fewer than a quarter of its 16million members are eligible.

Those who do qualify will be handed their extra payment between June 13 and June 30, and joint account holders can also get £100 each.

To be eligible, members must have had a Nationwide current account since at least March 31 and have kept it open until June.

In addition, they must have held at least £100 in savings accounts with Nationwide in March.

Or owed at least £100 on a Nationwide residential mortgage on March 31.

The strict rules mean loyal members who have saved with the building society for years will miss out if they don't have a Nationwide current account too.

The building society has already written to all customers it thinks are eligible.

Those who believe they qualify but have not received their £100 by June 30 should check the criteria and contact Nationwide.

Nationwide launched its Fairer Share Payment after producing a strong set of financial results and profits of £2.2billion.

As the building society is a mutual, it can choose to share profits with its customers – all of whom are members of the building society – rather than handing them over to shareholders as banks do.

The payments will automatically go into current accounts of eligible members in June.

Nationwide says it intends to make the payment annually if profits allow it.