London, May 3, 2026, 16:07 (BST)
Nationwide Building Society topped the UK’s current-account switching charts in the latest official release, drawing attention to speculation over a possible return of its £100 Fairer Share payout for qualifying members in 2026.
Timing is key here, with UK customers shifting their bank accounts at a quicker pace. According to CASS, the Current Account Switch Service, 319,529 accounts moved in the first quarter—jumping 43% from last year, as households chased improved rates, perks, and service.
Nationwide came out well ahead, pulling in a net 64,527 accounts between October and December, according to participant data released three months later. That net figure covers accounts opened minus those closed. Barclays trailed with 18,534, with Lloyds Bank further back at 12,073.
Nationwide is still leading the pack when it comes to current-account switching, according to group director of retail products Tom Riley. “Because we don’t have shareholders, we can give more back to our members,” Riley said. The building society has paid out the £100 Fairer Share for three years running and “hope to do so again this year.” Moneyfacts Group
Nationwide reported that over 4 million members got the £100 Fairer Share payment in 2025. The payout was made to those holding a qualifying current account and either qualifying savings or a qualifying mortgage, using criteria from March 31 last year.
Nationwide isn’t budging on its branch presence. The building society’s switching page highlights a pledge to keep every branch open through at least early 2030—a notable stance while bigger banks pull back from the high street.
Rachel Springall, a finance expert with Moneyfactscompare.co.uk, points out that many customers stick with their banks despite better-value options out there. For those looking to stretch their money, she suggests switching current accounts could help. Springall adds that the CASS system redirects payments, and 90% of recent users reported being satisfied with how it worked.
John Dentry at Pay.UK called it a “busy start” to the year for switching, pointing out a “real boom in February and March.” He cited rising savings rates as the main force behind the uptick, adding that new offers might push another wave of switches. Pay.UK
The £100 payment isn’t a sure thing. Nationwide says it hopes to offer Fairer Share payouts each year, but that’s tied to how well the business does—both the payout and the eligibility criteria could shift. So, anyone switching accounts now might not qualify if the 2026 rules change, or if the payment isn’t given the green light.
Nationwide confirmed it paid the £100 electronically to eligible members between June 18 and July 4 for 2025. On account statements, the deposit showed as “Nationwide Fairer Share Payment” and counts as interest for UK income tax purposes. Nationwide
Liverpool Echo, the Daily Mirror, and the Daily Express all picked up on fresh talk of a potential 2026 payment, citing new switching data that pushed Nationwide into the lead again, Ground News reported.
