Nationwide Building Society has issued an update on a £50 'thank you' payment going out to millions of customers.

The cash is going out to more than 12 million loyal members after the group completed its acquisition of Virgin Money.

The group previously said that most of the payments had now been issued but some individuals have reportedly still not received the payment.

One person wrote in a post on X on May 3 to say they had received an email saying they would get the £50 paid into their account their mortgage payments comes out of but it had "still not arrived".

Another person posted on the social media site on May 2 to say they were due to be paid the amount into their FlexAccount current account but they still hadn't been paid, although two of their family members had.

In light of the outstanding amounts yet to arrive in customer accounts, Nationwide was asked for an update on its work paying out the cash.

A spokesperson said: "If we were able to pay the money into a Nationwide current account, instant access or limited access savings account in your name, we have now done so.

"If we couldn't, and you have a mortgage with us, we paid £50 into the bank account used to pay your mortgage Direct Debit where we were able to do so.

"If we haven't been able to make the payment for any reason into a current account or savings account, we have sent a cheque. Cheques will be sent by May 14, 2025."

To qualify for the £50 payment, you must have been a member of Nationwide on September 30, 2024. You also need to still be a customer when the payment goes out.

Other qualifying rules to note include that in the 12 months to the end of September 2024, you must have had either:

• At least one qualifying transaction on your Nationwide current account or savings account, or
• At least £100 in total in one or more of your Nationwide current accounts and savings accounts, or
• Owed at least £100 in total on one or more Nationwide residential mortgages.

You may also qualify for the £50 payment if you made a switch to a Nationwide current account, between July 1 and September 30, 2024, using the Current Account Switch Service.