Nationwide is set to pay 11,000 members of staff a £1,200 bonus to help with the cost of living crisis.
The employees are due to receive the bonus as inflation hits 9.4% and household bills are predicted to rise above £5,000 by January 2023. The bonus will not be given to anyone in the company who earns £35,000 or more.
However, it is estimated around 61% of Nationwide's staff are entitled to the payment. Those eligible will receive the cash in two equal halves with one £600 arriving in October and the other in December.
