• Swindon & Wiltshire Economy
• Tuesday March 11 2025
• Author Name: Peter Davison

Nationwide gives £50 ‘thank you’ to 12 million customers after Virgin Money buyout

Nationwide is to pay £50 each to more than 12 million customers as a ‘thank you’ following its purchase of Virgin Money last year.

The Swindon-headquartered building society – which as a mutual is owned by its members – said a total of £600 million was being handed to qualifying account holders.

“Nationwide’s financial strength, which its members have helped build, allowed it to acquire Virgin Money in 2024,” said the society this morning (Tuesday).

“As a result, Nationwide is now even stronger and able to deliver the benefits of mutuality to even more people in the UK.”

Debbie Crosbie, Nationwide CEO, said: “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.”

The Big Nationwide Thank You is separate to the Fairer Share Payment, which Nationwide wants to repeat this year, subject to financial performance.

A decision will be made in May, when it publishes its results for the 2024/25 financial year.