What does this mean for me?
In October 2024, Virgin Money and Nationwide Building Society became part of the same group.
Virgin Money is currently a separate entity from Nationwide. To bring the two businesses together, we’re transferring the business of Virgin Money over to Nationwide. Following Court approval on 23 February 2026, Virgin Money’s business is expected to become part of Nationwide on 2 April 2026.
The transfer of Virgin Money’s business to Nationwide is the next step in combining the two businesses, working for the benefit of our customers and members to create a mutually owned, full-service organisation.
We’ll be working behind the scenes to make the changeover as smooth and seamless as possible. Any agreements you have with us will still be Virgin Money branded and our contact details will stay the same.
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 means for you.
Your third party questions answered
To make it clear what we’re saying on this page, here are some of the terms we use and what we mean when we use them:
| Term | Meaning |
|---|---|
| Virgin Money/we/our/us | When we say ‘Virgin Money’, ‘we’, ‘our’ or ‘us’, we mean Clydesdale Bank PLC, which trades under the names ‘Virgin Money’, ‘Clydesdale Bank’ and ‘Yorkshire Bank’. It’s this company’s business that is transferring to Nationwide. |
| Clydesdale Bank PLC | This is the legal entity which trades under the names ‘Virgin Money’, ‘Clydesdale Bank’ and ‘Yorkshire Bank’. |
| Nationwide | This is a quick way of saying Nationwide Building Society, which owns Virgin Money. It is the entity that Virgin Money’s business is being transferred to. For more info on Nationwide, take a look at Q6 below. |
| Transfer | This means the transfer of Virgin Money’s business to Nationwide. The transfer is completed under Part VII of the Financial Services and Markets Act 2000. Following Court approval on 23 February 2026, Virgin Money’s business is expected to become part of Nationwide on 2 April 2026. |
| Mutual | This means a business that's owned by its members and run for their benefit, with no shareholders to satisfy in the way that banks do. Nationwide is a mutual. |
Questions about the transfer
Nationwide acquired Virgin Money in October 2024, but since then Virgin Money has continued to operate as a separate legal entity within Nationwide’s Group. The transfer of Virgin Money’s business to Nationwide is the next step in combining the two businesses, working for the benefit of our customers and members to create a mutually owned, full-service organisation.
After the transfer, Nationwide will be the UK’s second largest provider of mortgages and savings accounts, ready to invest more in customer service and offer a wider range of products while also offering the benefits of a large mutual to small and medium-sized businesses for the first time.
Following Court approval on 23 February 2026, Virgin Money’s business is expected to become part of Nationwide at 23:59 on 2 April 2026. If this date changes, we’ll update our website at virginmoney.com/nationwide-transfer.
As the transfer is governed by Part VII of the Financial Services and Markets Act 2000, it must be approved by the Court.
A hearing took place at the High Court in London on 23 February 2026. Following Court approval on this date, Virgin Money’s business is expected to become part of Nationwide at 23:59 on 2 April 2026. If this date changes, we’ll update our website at virginmoney.com/nationwide-transfer
After the transfer, agreements and contracts with legally be with Nationwide (instead of Clydesdale Bank PLC).
Virgin Money mortgages will continue to be ‘Virgin Money’ branded. Clydesdale Bank mortgages will change to ‘Clydesdale’ branding – we're sending separate communications with more information about this to impacted customers and counterparties.
You won’t notice any difference in your day-to-day business with us and our contact details will stay the same.
You can find more information about the transfer and get a copy of the scheme document, together with other important information including a summary of the scheme and a copy of the formal notice of the transfer, at virginmoney.com/nationwide-transfer. If you’d like us to send you a copy of the scheme document, summary of the scheme, or formal notice of the transfer, please get in touch.
Call our dedicated team on 0800 066 5008* (or 00 44 141 880 2050** from outside of the UK). We’re here from 8am to 6pm, Monday to Friday and 9am to 3pm on Saturdays.
If you prefer, you can also email us at nationwide-transfer@virginmoney.com or write to us at:
Nationwide Transfer
The team at Virgin Money
Sunderland
SR43 4JB
Questions about Nationwide
Nationwide is the world’s largest building society, with a 140-year history and over 16 million members. It operates as a British mutual financial institution, which means it’s owned by and run for the benefit of its members.
Nationwide offers a wide range of banking products and services, including mortgages, current accounts, personal loans, credit cards and business savings accounts. In October 2024, Virgin Money became part of the Nationwide group.
How to contact us?
If you have any questions about the transfer, please get in touch with us via your existing contacts at Nationwide and Virgin Money.
You can also contact our dedicated team:
By phone
0800 066 5008
From outside UK
+44 141 880 2050
Monday to Friday 8am to 6pm, Saturday 9am to 3pm
0800 numbers are free from UK landlines and personal mobile phones.
Calls may be recorded for training and quality purposes.
By email
nationwide-transfer@virginmoney.com
Information sent by email may not be secure, so we'd suggest you don't send any details of a personal or sensitive nature by email.
By post
Nationwide Transfer
The Team at Virgin Money
Sunderland
SR43 4JB