What does this mean for me?
Important update – this content was last updated as at 3 April 2026. For more up to date information on what the Virgin Money transfer to Nationwide means for you, and where to find support if you need it, visit https://www.nationwide.co.uk/nationwide-and-virgin-money-transfer/.
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.
Any agreements you have with us before or after the transfer on 2 April 2026 will still be Virgin Money branded and our contact details have stayed the same as they were prior to the transfer.
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.
However, please note that this content was last updated as at 3 April 2026. For more up to date information on what the Virgin Money transfer to Nationwide means for you, and where to find support if you need it, visit https://www.nationwide.co.uk/nationwide-and-virgin-money-transfer/.
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 prior to the transfer, traded under the names ‘Virgin Money’, ‘Clydesdale Bank’ and ‘Yorkshire Bank’. It’s this company’s business that has transferred to Nationwide. |
| Clydesdale Bank PLC | This is the legal entity, which prior to the transfer, traded 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 has been transferred to and which now trades as ‘Nationwide Building Society’, ‘Virgin Money’ and ‘Clydesdale’. 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 was completed under Part VII of the Financial Services and Markets Act 2000. Following Court approval on 23 February 2026, Virgin Money’s business transferred to Nationwide on 2 April 2026. |
The transfer
Nationwide acquired Virgin Money in October 2024, but after that Virgin Money continued to operate as a separate legal entity within Nationwide’s Group until the transfer. 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.
As a result of the transfer, Nationwide is now 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 transferred to Nationwide at 23:59 on 2 April 2026.
As the transfer was governed by Part VII of the Financial Services and Markets Act 2000, it had to be approved by the Court.
A hearing took place in the High Court in London on 23 February 2026, which approved the transfer. The transfer completed on 2 April 2026.
As a result of the transfer on 2 April 2026, agreements and contracts are now legally held with Nationwide (instead of Clydesdale Bank PLC).
Virgin Money mortgages will continue to be ‘Virgin Money’ branded. Clydesdale Bank mortgages have changed to ‘Clydesdale’ branding – we’ve sent 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 as a result of the transfer and our contact details have stayed the same as they were before the transfer.
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 Key dates and documents.
If you have any questions about the transfer, you can contact us and our colleagues will be happy to help.
Questions about Nationwide
Nationwide is the world’s largest building society, with a 140-year history. Prior to the transfer, Nationwide had 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 and on 2 April 2026, Virgin Money’s business transferred to Nationwide.
How to contact us?
If you have any questions about the transfer, you can contact us and our colleagues will be happy to help.