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Virgin Money is now part of Nationwide

Updated on 1 October 2024

Today, Nationwide completed its acquisition of Virgin Money.

The combination of both businesses will result in a mutually owned, full-service organisation with enhanced investment in customer service and a wider range of products. Together, we will be the UK’s second largest provider of mortgages and savings accounts.

We’re excited about our future as two purpose-driven businesses with a shared goal of supporting our customers, colleagues and communities. Virgin Money Stores are now included in Nationwide’s Branch Promise. This means that everywhere there is a Virgin Money Store, we promise to still be there until at least the start of 2028.

For now, it's very much business as usual – there's no impact to Virgin Money (or Clydesdale and Yorkshire Bank) products and services. Customers who have savings with both Virgin Money and Nationwide will continue to benefit from the maximum protection offered by the Financial Services Compensation Scheme on each of their Virgin Money and Nationwide accounts.

Just so you know, fraudsters often take advantage of times of change to try and persuade people to share personal or financial information. We’ll never ask you for security details, whether over the phone, by email or via any other channel, so if someone does – please don’t share this information with them.

We’ll continue to keep our website up to date with the latest news and our teams are as committed as ever to delivering great service to you.

As we integrate Virgin Money and Nationwide carefully over time, the benefits we offer to our customers will only increase.

Thank you for your continued loyalty.

Chris Rhodes

CEO Virgin Money

Frequently asked questions

Your account(s) will still be a Virgin Money account with Virgin Money branding and our contact details will stay the same.

There are no changes to sort codes, account numbers or any account features, and you can carry on using the same sign-in details if you use our apps, or Online Service. Our web address will also stay the same.

You do not need to take any action during this time. Therefore be suspicious of anyone who calls asking you to take action because of the acquisition and don't click on any links in unexpected emails or text messages.

There are no changes to FSCS protections as a result of the acquisition. Nationwide has confirmed that in the medium term, Virgin Money will continue to operate as a separate legal entity within the Nationwide group with a separate banking licence. Rest assured that if there were to be any change in FSCS protection in future, we would write to you – and you’d always have notice of any changes so you’d have plenty of time to think things through.

The acquisition of Virgin Money by Nationwide won't change the way you bank with us. For the time being you will need to continue using a Virgin Money branded Store for your Virgin Money banking, rather than a Nationwide branch. If anything changes in the future, we’ll write to let you know.

Yes. There are no changes to sort codes, account numbers or any account features as a result of the acquisition, so existing Direct Debits and standing orders will continue as they do today. If anything changes in the future, we’ll write to let you know.

Yes, please continue to bank and interact with us as normal. But be suspicious of anyone who calls, saying you to have to 'set up', 'reactivate' or switch to a new mobile app. This is likely a fraudster trying to get access to your account.

We will never ask you to move money to another account. A fraudster could take advantage of the acquisition and convince you to move your money to a 'safe', 'new', 'holding' or 'new Nationwide' account. If someone calls and ask you to do this, it's a scam. Please hang up and call us immediately using the number on the back of your card or from our secure website.

Nationwide does not intend for customers of Virgin Money to automatically become members of Nationwide for at least the twelve months following completion. Nationwide intends to consider options for transferring certain Virgin Money customers to Nationwide over the medium to long term, whilst avoiding customer disruption; following any such transfer, those qualifying Virgin Money customers would become Nationwide members.

There are no changes to the Virgin Money name at this stage. Nationwide intends to gradually integrate Virgin Money into the group over multiple years and Virgin Money will continue to operate as a separate legal entity in the medium term.

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