Nationwide launches new monthly £ 1million raffle for customers

Millions of Nationwide Building Society clients will have the chance to win up to £ 100,000 in a new monthly raffle, without having to do anything to enter.

Eligible people will automatically be entered for a chance to win a share totaling £ 1million per month.

Britain’s largest construction company said people would be rewarded just for being one of its members.

They will have 8,008 chances to win each month, with one top prize of £ 100,000, two prizes of £ 25,000, five prizes of £ 10,000 and 8,000 opportunities to win £ 100.

The initiative will run for 12 months, with the first draw taking place in September.

By the end of the 12 month period, more than 95,000 prizes of at least £ 100 will have potentially been awarded to Nationwide customers.

To have a chance of winning, members must be 18 years of age and over and have a mortgage, savings or checking account with the mutual.

Business savings accounts are excluded, as are mortgages through Mortgage Works, a subsidiary of Nationwide.

Nationwide has around 14.2 million members eligible for its first Membership Draw, bringing the odds of winning a prize to around one in 1,750.

He said the odds would change from month to month, depending on the final number of members eligible to register.

Entries will be on a “per customer” basis, regardless of the quantity of products they have with Nationwide. Long-standing customers with older or inactive accounts will also be automatically entered, as well as newer customers.

Louise Prior, Nationwide’s Director of Membership Proposals, said: “We believe it is important that many members can benefit from the membership draw, which is why we are giving over 8,000 members the chance. to split a pot of £ 1million. each month.

“Plus, members don’t have to do anything to participate – as long as they have at least one of our mortgages, savings or checking accounts, they’re automatically foreclosed.”

People can choose not to participate in the raffle, which can be done online, at a branch or over the phone.

Nationwide said the launch builds on the success of its savings-focused sweepstakes over the past year and that the concept has proven popular in customer research.

The company said it will continue to listen to member comments for the 12 months.

The draws will take place on the second Tuesday of each month, with the first taking place on Tuesday, September 14.

Prizes will be paid either by wire transfer to a Nationwide checking or savings account or by check, usually within four weeks.

The Nationwide Membership Draw is only available to eligible members in England, Scotland and Wales.

The company said the raffle will not be open to members from Northern Ireland due to how the raffles are regulated there. But he said he would give something back to communities in Northern Ireland, with a fund of more than £ 300,000 to be shared among local charities.

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