Nationwide is one of the most familiar names on the high street, with the building society helping millions of people. It offers a range of savings products, including its ever-popular FlexDirect account, for Britons to benefit from. But savers with the provider could also benefit from a new monthly prize draw.

Every month, it will give away one prize of £100,000, alongside two prizes of £25,000.

There will be five prizes of £10,000 offered, with a final 8,000 prizes of £100 up for grabs.

Prizes in the Nationwide draw are selected on the second Tuesday of each month.

Then individuals can expect to hear from Nationwide in due course if they have won a prize.

“The launch of our Member Prize Draw is another example to show why it’s worthwhile being a member of Nationwide Building Society. It is about giving even more back to our members on top of the benefits we already offer.

“We believe it’s important that lots of members can benefit from the Member Prize Draw, which is why we are giving more than 8,000 members the chance to share in a prize pot of £1million each month. 

“And what’s more, members don’t need to do anything to take part – as long as they have at least one of our mortgages, savings accounts or current accounts then they are automatically entered.”

There is, however, an option to opt-out which is to be contained on Nationwide’s website for those who do not wish to take part.