This includes £ 8,000 prizes, £ £ 10,000 prizes, two £ 25,000 prizes and a top prize of £ 100,000. To be eligible for this draw, a member must be 18 years or older and have at least one nationwide mortgage, savings or current account.
The new draw is based on the success of society’s savings-focused draws offered over the past year, as more than 5,000 prizes totaling £ 4.3 million were paid out. All eligible members will have an equal chance of winning a prize as each member receives a monthly grant.
All members who meet the entry criteria from the last working day of each month will automatically participate in the following month’s winnings. From now on, the draws will take place on the second Tuesday of each month.
Payments of the prices will be made either by transfer to a nationwide current account or savings account or by check, usually within four weeks. When the draw began, Louise Prior, Nationwide Director of Membership Proposals, commented: “Our members are accustomed to sharing the benefits of reciprocity through better service and bargain prices, such as those offered at our member-exclusive fixed interest rate ISA and Mutual Reward Bond.
“The launch of our membership award draw is another example of why it’s worthwhile to be a member of the Nationwide Building Society. It’s about giving even more back to our members in addition to the benefits we already offer.
“We believe it is important that lots of members can benefit from the membership prize draw, which is why we give more than 8,000 members the chance to share in a £ 1 million prize pool each month. And besides, members do not have to do anything to participate – as long as they have at least one of our mortgages, savings accounts or current accounts, they will enter automatically.
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