Nationwide Issues Urgent Payments Warning to Millions of Customers

Critical January Deadline for £50 Payments

Nationwide has issued an urgent warning to customers who received cheque payments, as they must deposit these by January 1, 2026, or permanently forfeit the cash. The £50 windfall formed part of the agreement when Nationwide acquired Virgin Money, distributed to eligible members as part of the ‘Big Nationwide Thank You’ scheme.

Nationwide paid the £50 directly into members’ current or savings accounts where possible, but cheques were only used when Nationwide did not have suitable account details, and it’s these payments that now risk expiring. After this date, unbanked cheques become void and the money is lost.

Christmas Shopping Scam Alert

In addition to the cheque deadline, Nationwide has issued a warning to its 16 million members, urging shoppers to take extra care as they could find themselves being overcharged during the festive shopping period. The society is preparing for a surge in transactions, predicting over 20 million will occur during peak shopping days, with approximately 20.6 million transactions expected between December 12 and December 13.

Nationwide has identified platforms like Snapchat and Telegram as the biggest sources of scam growth over the past year. The building society advises customers to be sceptical of urgency tactics, use secure payment methods, and avoid bank transfers unless absolutely certain.

Protection Measures and Support

Nationwide operates a 24/7 fraud helpline and offers a Scam Checker service, which allows members to have payments verified before they are made. Customers who believe they were eligible for the £50 payment but haven’t received it should contact Nationwide immediately through official channels.

With the January deadline fast approaching and scammers targeting festive shoppers, Nationwide members must act swiftly to secure their payments and protect themselves from fraud during this busy period.