More than 12 million customers of Nationwide will each receive a payment of £50 following the takeover of Virgin Money. The Nationwide, the UK's largest building society, described the money as a "thank you" to its members,

As a result of the takeover, Nationwide will pay around 12 million customers a share of more than £600 million to thank them for enabling the purchase of Virgin Money - meaning they will each receive £50.

Nationwide hands £50 ‘thank you’ to 12m customers after Virgin Money buyout - The building society said the move, which will cost about £600 million, is to thank customers after the banking megadeal last year.

MILLIONS of Nationwide customers have now been issued alerts about the building society’s bonus payment. Next month, 12million members will receive a one-off £50 as a gesture of gratitude to

Nationwide Building Society will give each of its members £50 as part of its Big Thank You initiative. Most of the payments will be made next month. The payments are a way to show appreciation to members for their role in making the successful acquisition of Virgin Money possible.