The pot will in all probability be distributed to eligible members holding a qualifying current account plus each a qualifying monetary financial savings or mortgage product.
Funds will in all probability be despatched out mechanically to account holders in June, assuming they held their qualifying merchandise on March 31.
Nationwide will start to tell eligible members regarding the charge from Friday.
The Society talked about it hopes as many members as doable will grow to be eligible for the reward, and it intends to make the charge yearly, provided this may not be detrimental to the Society’s financial energy.
To have a qualifying current account for a Fairer Share charge, it ought to have been open on March 31.
Qualifying members ought to nonetheless have a gift account in June.
These with qualifying monetary financial savings might have had at least £100 in full in various personal monetary financial savings accounts or cash Isas with Nationwide on the end of any day in March this yr.
To have a qualifying mortgage, a Nationwide member ought to owe the Society at least £100 on their Nationwide residential mortgage on March 31.