If you were a Virgin Money business or charity customer on 2 April 2026
In October 2024, Virgin Money and Nationwide Building Society became part of the same group.
Following Court approval on 23 February 2026, Virgin Money’s business transferred to Nationwide on 2 April 2026.
The transfer of Virgin Money’s business to Nationwide was a key step in combining the two businesses, working for the benefit of our customers and members to create a mutually owned, full-service organisation.
The transfer hasn’t changed your day-to-day banking, and you can continue to manage your Virgin Money business and/or charity accounts in the same way as you did before the transfer.
There are no changes to any of your account details including your account number, sort code, your PIN, or any of your account features. You can also carry on using the same sign-in details when you log into Business Internet Banking or your Mobile Banking app. As a result of the transfer Nationwide is now your account provider.
As we continue to bring the two businesses together as a result of the transfer, we may make some changes. If a change impacts you, we’ll give you plenty of notice and explain what it means to you.
How your FSCS protection is affected
The Financial Services Compensation Scheme (FSCS) provides compensation to individuals, qualifying businesses and charities with eligible deposits (savings, currency and current accounts) held in a UK bank or building society account in the event the bank or building society should fail. It protects eligible deposits up to £120,000 per person, (or qualifying business or charity) across all savings and current accounts they hold in one regulated bank or building society (this is per person and not per account).
As Virgin Money’s business has now transferred to Nationwide, this protection applies to your total combined eligible deposits with Virgin Money and Nationwide, up to a total of £120,000.
To find out more on how your FSCS protection is affected, visit https://uk.virginmoney.com/nationwide-transfer/questions/FSCS/.
We’d be grateful if you, and anyone else with an interest in the transfer, could take a few minutes to read our questions and answers. They include some important information to help you understand what the transfer on 2 April means for you. These questions and answers are correct as at 3 April 2026.
To make it clear what we’re saying on this page, visit Your Questions Answered to find some of the terms we use and what we mean when we use them.
Your business and charity questions answered
The transfer hasn’t changed your day-to-day banking. Your account(s) are still ‘Virgin Money’ branded and our contact details are the same.
Your sort codes, account numbers and any account features are the same as they were before the transfer. We will not be issuing you with a new card (unless your current card has reached its expiry date), and you can carry on using the same sign-in details when you log into the Virgin Money Mobile Banking app or online banking. Our web addresses are also the same.
The transfer hasn’t affected the way you use your account, but as we continue to bring the two businesses together, we may make some changes to our Terms, processes or IT systems. This will happen gradually. And, if we make a change that impacts you, we’ll always give you plenty of notice, explain what it means and make it as straightforward as we can.
Fraudsters often try to take advantage of times of change like this. We’ll never ask you for security details over the phone or by email. So, if someone gets in touch and asks you to share financial details or move your money, it’s a scam. Stop all contact and call us. You can find our number at virginmoney.com/report-fraud.
The transfer hasn’t changed the interest rate on your account.
Yes. The transfer hasn’t changed any of your sort codes, account numbers or account features, so Direct Debits and standing orders are the same as before the transfer
Fraudsters often try to take advantage of times of change like this. We’ll never ask you for security details over the phone or by email. So, if someone gets in touch and asks you to share financial details or move your money, it’s a scam. Stop all contact and call us. You can find our number at virginmoney.com/report-fraud.
No. The transfer hasn’t changed the way you use your account(s). Following the transfer, we may make some changes to our Terms, processes or IT systems. For example, if you use our digital services, in the future we may ask you to download a new mobile app
This will happen gradually. And, if we make a change that impacts you, we’ll always tell you what’s happening, explain what it means and make it as straightforward as we can.
No. The transfer hasn’t changed the terms on your business borrowing. Your term, interest rate, payments, sort codes, account numbers and account features are the same as before the transfer.
No. The transfer hasn’t changed your payments or how you manage your business borrowing. If you have any payment arrangements with Virgin Money, keep the payments up as normal.
Fraudsters often try to take advantage of times of change like this. We’ll never ask you for security details over the phone or by email. So, if someone gets in touch and asks you to share financial details or move your money, it’s a scam. Stop all contact and call us. You can find our number at virginmoney.com/report-fraud.
No. There are no changes to how your Business Credit Card works. Your card will still work the same as before the transfer. Your PIN hasn’t changed either.
No. If you have a named relationship manager, this hasn’t changed as a result of the transfer.
The FSCS provides compensation to individuals and qualifying businesses with eligible deposits (savings and current accounts) held in a UK bank or building society account in the event the bank or building society should fail. It protects eligible deposits up to £120,000 per person or qualifying business across all savings and current accounts they hold in one regulated bank or building society. As Virgin Money’s business has now transferred to Nationwide, this protection applies to your total combined eligible deposits with Virgin Money and Nationwide, up to a total of £120,000.
To check if your business deposits are eligible for FSCS protection, visit fscs.org.uk Link opens in a new window. Some types of business deposit are excluded from the scheme no matter which bank or building society holds the account and those deposits don’t get FSCS protection.
If, following the transfer, you want to have the same level of FSCS protection you had before for eligible deposits, you need to move any excess money (above the £120,000 limit) to another bank or building society in order to bring you in line with the FSCS limit.
If you have deposits in both Virgin Money and Nationwide, and are over the FSCS limit:
| For Business Current Accounts and Instant Access Accounts (including M Account for Business) | You can withdraw your money at any time. |
|---|---|
| For Business Fixed Rate Savings Accounts, Business Term Deposit and Business Currency Accounts | You can withdraw money to bring you within the FSCS limit without being charged (even if the account hasn’t matured yet). You don’t need to give us notice, but you’ll need to withdraw the money from your account between 24 February 2026 and 1 June 2026. Outside this window, you might not be able to withdraw your money until maturity, or you might be charged if you withdraw your money. This depends on your usual Terms. |
| For Business Notice Accounts | You can withdraw money to bring you within the FSCS limit. You don’t need to give us notice, but you’ll need to withdraw the money from your account between 24 February 2026 and 1 June 2026. Outside of this window, you will need to provide notice in line with your Terms. |
Virgin Money and Nationwide will never ask you to move your money to another account. If someone does, it's a scam. Stop all contact immediately and call us using the number on the back of your card, or you can find our number at virginmoney.com/contact/business.
If your combined deposits with Virgin Money and Nationwide were over the FSCS limit ahead of 2 April 2026, we sent you a communication to explain your options. This included information about what you could do if you feel you will be financially disadvantaged because of your withdrawal. If you are affected, you can contact us at nationwide-transfer@virginmoney.com.
You may want to speak to a financial adviser before you take your money out of any of your accounts. You can find one in your area at opens in a new window unbiased.co.uk Link opens in a new window.
Yes. Please see opens in a new window Q30-34 in the 'General' section above for more information about how the transfer impacts your existing rights.
Staying safe and avoiding fraud
Fraudsters can take advantage of times of change and try and persuade people to transfer money or share personal or financial information.
Your sort code and account number haven’t changed as a result of the transfer. Virgin Money or Nationwide will never ask you to move your money to another account or to change any Direct Debits or standing orders. We'll also never ask you for security details over the phone, by email or by text, so if someone does - please don't share this information with them.
Please be extra vigilant if you're contacted by phone, email or text from someone claiming to be from Virgin Money or Nationwide, asking you to take action.
If you're worried that you might have been targeted, call us straight away - ideally from another phone if possible. Report suspected fraud.
We'll do everything we can to help. You can keep up to date with the latest fraud and scams impacting customers - and learn how to stay safe - by visiting our business fraud awareness section.
