London, May 3, 2026, 16:07 (BST)
Nationwide Building Society led Britain’s current-account switching market in the latest official data, sharpening focus on whether it will bring back its £100 Fairer Share payment for eligible members in 2026.
The timing matters because UK customers are moving bank accounts at a faster clip. The Current Account Switch Service, known as CASS, said 319,529 accounts were switched in the first quarter, up 43% from a year earlier, as households looked for better rates, perks and service.
Nationwide’s lead was clear. Participant data for October to December, published three months in arrears, showed the building society made net gains of 64,527 accounts, meaning accounts won minus accounts lost. Barclays was next with 18,534, followed by Lloyds Bank with 12,073.
Tom Riley, Nationwide’s group director of retail products, said the latest figures showed it remained the most switched-to current-account provider. “Because we don’t have shareholders, we can give more back to our members,” he said, adding that Nationwide had paid the £100 Fairer Share for three years and “hope to do so again this year.” Moneyfacts Group
Nationwide says more than 4 million members received the £100 Fairer Share payment in 2025. The payment went to members with a qualifying current account, plus qualifying savings or a qualifying mortgage, based on criteria checked on March 31 last year.
The building society has also kept branches in the pitch. Nationwide’s switching page says it has promised to keep all branches open until at least the start of 2030, a point that stands out as larger lenders cut parts of their high-street networks.
Rachel Springall, finance expert at Moneyfactscompare.co.uk, said customers still often stay loyal even when better value may be available elsewhere. She said current-account switching could be a useful way for consumers to make money go further, while noting that CASS handles payment redirects and that 90% of recent users were satisfied with the process.
Pay.UK’s John Dentry said switching had a “busy start” to the year, with a “real boom in February and March”. He said higher savings rates remained a key driver of movement, and that fresh offers could bring another burst of activity. Pay.UK
But the £100 payment is not guaranteed. Nationwide says it would like to make Fairer Share payments every year, but the decision depends on financial performance, and both the amount and eligibility rules may change. That means a customer switching now could still miss out if the 2026 terms differ or if the payment is not approved.
For 2025, Nationwide said the £100 was paid electronically between June 18 and July 4, appeared as “Nationwide Fairer Share Payment” on statements, and was treated as interest for UK income tax purposes. Nationwide
The latest reports on the possible 2026 payment were carried by the Liverpool Echo, the Daily Mirror and the Daily Express, according to Ground News, after the new switching figures put Nationwide back at the top of the rankings.
