Money Expert Martin Lewis Outlines How to Secure Nationwide’s 2025 Bonus

Martin Lewis, a well-known money expert, has provided advice for Nationwide account holders aiming to secure the bonus payment scheduled for 2025. In previous years, the building society has rewarded its customers with a ‘fairer share’ bonus, disbursing significant sums to millions of members. The bonus amounts have varied, with customers from other banks sometimes being eligible for even higher figures.

The guidelines Lewis shared focus on several important criteria. First, customers must ensure that their Nationwide account is opened by March 31, 2025, as this is the final date on which the bank verifies eligibility. Once opened, it is crucial to keep the account active because only current members can receive the payment. Activity in the account during the initial three months of the year is also essential; this can be demonstrated by depositing at least £500 or processing a minimum of ten transactions. These transactions include transferring funds or setting up standing orders, but they exclude transfers between accounts held in the same name.

Additionally, previous payment schemes required Nationwide members to maintain either a savings account or a mortgage with the bank. In past years, having at least £100 in a savings account or owing at least £100 on a mortgage was necessary to qualify. Nationwide offers different types of savings accounts, such as options with competitive interest rates and flexible withdrawal limits, providing members multiple choices to meet these conditions.

For those not already banking with Nationwide, there is an opportunity to switch and potentially secure extra rewards. Nationwide is offering a £175 bonus for new customers who switch from another bank, along with attractive interest rates and cash-back benefits on a new account. The switching process is designed to be swift, with the entire procedure completed in just seven working days. Although these guidelines have applied to previous bonus payments, Nationwide has yet to reveal the specific details for 2025, with an announcement expected in May once their board reviews the bank’s recent financial performance.