Nationwide Building Society has issued a last-minute warning that could affect millions of its customers who still haven’t claimed their £50 “Big Thank You” payout. After completing its massive acquisition of Virgin Money last year, Nationwide rewarded more than 12 million eligible members with a £50 thank-you payment. The payout rolled out between April 9 and April 30, 2025, and while most customers received the money directly into their accounts, thousands who received cheques have still not deposited them. Nationwide has now confirmed that the unclaimed cheques will expire on January 1, 2026, meaning customers only have a short window left to act before the money is completely lost.
The building society emphasized that although January 1 is the technical deadline, the festive season creates an even earlier cutoff. With Christmas closures, reduced banking hours, and the New Year holiday, customers realistically have only a limited number of banking days left. Nationwide is urging everyone who received the cheque to treat this as an urgent task rather than something they can leave until the last minute, because once the expiration date passes, the £50 cannot be reissued.
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Members Who Never Received Any Update Must Also Act Fast
While some people simply forgot to deposit their cheque, Nationwide has discovered that a number of eligible members may have never received it at all due to outdated personal details or lost mail. The society has now reminded customers that if they believe they were eligible but never received any communication, they must also reach out before January 1, 2026. The verification process may involve contacting Nationwide through its official online banking system, calling customer support, or visiting a branch in person.
Nationwide stressed that customers should only rely on official channels for any queries and avoid responding to random emails or unofficial messages, especially during the holiday season when scams tend to increase. The society has also reassured members that staff at branches are ready to help verify eligibility and update account information, but again, the deadline means customers should not delay.
Who Actually Qualified for the £50 Big Thank You Payment?
Nationwide introduced the Big Thank You payment as a gesture of appreciation following its £2.9 billion acquisition of Virgin Money. This payment is completely separate from the annual Fairer Share Scheme, which typically provides £100 to qualifying members each May. The Big Thank You required members to meet specific conditions linked to account activity and balances held during the preceding year.
To qualify, customers needed to have a current account, savings account, or mortgage with Nationwide at the end of September 2024. They also needed to show some activity by completing at least one transaction during the previous 12 months or by maintaining a balance of at least £100 in their account or mortgage. Additionally, they had to still hold their accounts or mortgages at the time the payments were issued in April 2025. These criteria led to over 12 million people being eligible, resulting in more than £600 million being distributed across the UK.
How and When the Payments Were Originally Sent Out
Nationwide released the payments in stages, starting on April 9, 2025, and completing the direct account deposits by April 30. Most current and savings account holders received their payments directly into their accounts, while mortgage customers had the money sent to the account used for their Direct Debit whenever possible. Customers who could not receive a bank transfer particularly those with ISA or Bond accounts were issued cheques by May 14, 2025.
Below is a quick table summarizing how the payments were delivered:
| Member Category | How the £50 Was Sent | Payment Completion Date |
|---|---|---|
| Current account members | Direct deposit into account | April 30, 2025 |
| Savings account members | Direct deposit into account | April 30, 2025 |
| Mortgage customers (with DD account) | Direct deposit into DD account | April 30, 2025 |
| Mortgage customers (no linked account) | Cheque issued | By May 14, 2025 |
| ISA and Bond account holders | Cheque issued | By May 14, 2025 |
What To Do If You Still Haven’t Claimed Your Money
With the January 1 deadline approaching, Nationwide is urging customers not to wait any longer. Those holding uncashed cheques should deposit them immediately through mobile banking (if permitted), an ATM, or in person. Customers who think they qualified but never heard from Nationwide should contact the society now to avoid missing their payout.
Nationwide has made it clear that once the deadline is passed, the unclaimed £50 will not be reissued under any circumstances. The message is simple: if you believe this money belongs to you, act now before it’s too late.
FAQs
- What happens if I miss the January 1 deadline?
If the cheque expires, the payment cannot be replaced. Nationwide has confirmed that the £50 will be forfeited permanently.
- Can I request the money to be sent again?
No. The Big Thank You payment was a one-time distribution. Unclaimed cheques cannot be reissued.
- How do I know if I was eligible?
If you held a Nationwide current account, savings account, or mortgage as of September 30, 2024, and met basic activity requirements, you were likely eligible.
- What if my cheque was lost in the mail?
You must contact Nationwide immediately before the deadline. They can verify your details and advise on next steps.
- Is this the same as the Fairer Share Scheme?
No. The Fairer Share Scheme is an annual £100 payout, while the Big Thank You was linked to the Virgin Money acquisition.
