If you were a Virgin Money current account 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 current accounts in the same way as you did before the transfer. There are no changes to sort codes, account numbers or any account features including the interest rate on your account. You can also carry on using the same sign-in details when you log into the Virgin Money Mobile Banking app or online banking. As a result of the transfer, your Terms have been updated to reflect Nationwide being 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 below. They include some important information to help you understand what the transfer on 2 April 2026 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 current account questions answered
The FSCS provides compensation to individuals and qualifying businesses with eligible deposits (current accounts, currency accounts and savings) 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 up to £240,000 for joint accounts, 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.
Before the transfer, separate protection was in place for Virgin Money and Nationwide deposits. So, for example, if you had £70,000 of deposits with Virgin Money, and £65,000 of deposits with Nationwide, all of your £135,000 was protected.
Following the transfer, this protection now applies to your total combined deposits between Virgin Money and Nationwide. So using the above example, £120,000 of your £135,000 of deposits is protected, but £15,000 is not protected.
You can find out more information about the FSCS at https://www.fscs.org.uk/ Link opens in a new window.
If, following the transfer, you want to have the same level of FSCS protection you had before, you will need to move some of your excess deposits (above the £120,000 limit) from your Virgin Money or Nationwide account to another bank or building society in order to bring you in line with the FSCS limit.
| Current accounts | Currency accounts |
|---|---|
| You can withdraw your money at any time. | If you have a currency account, you can withdraw money to bring you within the FSCS limit without being charged. You’ll need to withdraw the money from your account between 24 February 2026 and 1 June 2026. Before and after this window, you might be charged as your normal Terms will apply. |
If your combined deposits with Virgin Money and Nationwide were over the FSCS limit ahead of 2 April 2026, we sent you a separate communication to explain your options. This also confirmed the new increased FSCS limit from 1 December 2025.
If you have a joint account, you’re covered up to £240,000. That’s because you’re covered for £120,000 per person and not per account.
No. You can continue your Virgin Money debit card. Your PIN and account number haven’t changed either.
You can still use any Virgin Money apps or online banking and virginmoney.com to manage your account(s) in the same way as you did before the transfer.
The transfer hasn’t changed the way you use your account(s). 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 tell you what’s happening, explain what it means and make it as straightforward as we can.
No. You can still carry on using your Virgin Money debit card. Your PIN and account number haven’t changed either.
Yes. Any payments you make will still show as coming from ‘Virgin Money’.
Yes. As a Virgin Money customer, you can still go to the Post Office to pay in or withdraw your money using your debit card.
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 fraud awareness section.
