Nationwide customers are being urged to check their bank accounts as the building society hands out £100 bonus payments to millions of people from today.
As part its new Fairer Share scheme, customers will receive £100 after Nationwide made bumper profits last month.
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.
Many customers will be left disappointed as fewer than a quarter of its 16million members are eligible
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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.
Nationwide launched its Fairer Share Payment after producing a strong set of financial results and profits of £2.2billion
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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.
