MILLIONS of Nationwide customers are set to get a free £50 payment within weeks.

The building society has announced the payment as a gesture of gratitude to its members for their contribution to the successful acquisition of Virgin Money.

1

Each eligible member will receive a one-off payment of £50, dubbed the “Big Nationwide Thank You”.

This payment is separate from Nationwide’s annual “Fair Share Payment”, which last year rewarded members with £100 in recognition of the society’s financial performance.

However, the building society has indicated today that it hopes to distribute the “Fair Share Payment” once again later this year.

Debbie Crosbie, chief executive of Nationwide, said: “Nationwide became even stronger when it bought Virgin Money and we are already improving services for its customers.

“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.”