Time is running out for thousands of Nationwide customers to claim a cash reward that is rightfully theirs. Following the building society’s acquisition of Virgin Money last year, millions of members were sent a thank you payment of £50. While most of these payments were made directly into bank accounts back in April 2025, some people received cheques that have yet to be cashed.
Nationwide has now issued an urgent warning to these customers. If you are holding onto one of these cheques, you have a very short window left to pay it in. Failing to act before the deadline will mean the money is lost for good. With the busy holiday season approaching, it is vital to check your mail and get this sorted immediately.
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Urgent Deadline for Cheque Holders
The final cutoff date to cash your payout cheque is January 1, 2026. This leaves customers with roughly three weeks to visit their branch or deposit the money via a banking app. It is important to remember that banks operate on reduced hours over the Christmas period and will be closed on New Year’s Day. Leaving this until the very last minute could result in missing the deadline entirely.
If you believe you are eligible but have not heard anything, this same deadline applies for updating your details. Nationwide has stated that anyone who has not received their payment due to incorrect contact information must get in touch with them before the start of the new year to correct their records and claim the funds.
Why the Payment Was Issued
This financial boost was part of a larger distribution of over £600 million shared among members. The payout was designed to celebrate the successful purchase of Virgin Money in October of the previous year. Nationwide wanted to show gratitude to its 12 million loyal members who helped put the society in a strong financial position to complete the buyout.
Unlike standard dividends paid by banks to shareholders, this was a direct reward to the customers who own the building society. It serves as a thank you for their continued loyalty and business during the acquisition process.
Who Qualifies for the Cash Boost
Not every customer received this specific £50 reward. To qualify, you needed to hold a specific type of product, such as a current account, savings account, or mortgage, on September 30, 2024. However, simply having an account open was not enough.
Customers also had to meet usage criteria. This meant completing at least one transaction or keeping a balance of at least £100 in their account during the 12 months leading up to the qualifying date. Furthermore, the account had to remain open until the payment distribution period in April 2025.
Understanding the Difference from Other Schemes
It is easy to get confused between the various payouts Nationwide offers. This £50 payment is completely separate from the Fairer Share Scheme, which is an annual event that typically takes place in May. The Fairer Share Scheme usually pays out a higher amount, often around £100, and is based on the society’s yearly financial performance.
The deadline discussing here applies strictly to the one-off £50 payment related to the Virgin Money deal. If you received the annual Fairer Share payment in May, that does not necessarily mean you have claimed this separate acquisition bonus.
Summary of Key Dates and Details
The table below outlines the timeline of events and the critical deadline you need to remember.
| Event | Date |
| Qualifying Date for Eligibility | September 30, 2024 |
| Payments Started | April 9, 2025 |
| Payments Concluded | April 30, 2025 |
| Cheques Issued By | May 14, 2025 |
| Final Deadline to Claim | January 1, 2026 |
