If you were a Virgin Money savings 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 savings accounts in the same way as you did before the transfer.
There are no changes to your account number, or any account features including any interest rates 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. 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.
If you had a Cash ISA with Virgin Money before the transfer, Nationwide became your ISA Manager on 2 April 2026. We contacted you in February 2026 to confirm all the details around the change in ISA Manager and what this means for 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 FSCS questions and answers.
There won’t be any change to your savings interest rate as a result of the transfer to Nationwide. We’ll always give you plenty of notice before any rate change happens.
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 savings questions answered
The FSCS provides compensation to individuals and qualifying businesses 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 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 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 to bring you in line with the FSCS limit.
| Fixed rate savings accounts | Notice 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. | You can withdraw money to bring you within the FSCS limit without being charged. 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. |
| Defined access accounts | Easy access accounts |
| You can withdraw money to bring you within the FSCS limit. It won’t count as one of your permitted withdrawals, but you’ll need to withdraw the money from your account between 24 February 2026 and 1 June 2026. Outside of this window, it will count as one of your permitted withdrawals in line with your Terms. | You can withdraw your money at any time. |
Remember, any money you withdraw out of a cash ISA won’t benefit from the tax-free status. If you want to keep your tax-free status, you need to tell your chosen new ISA Manager to transfer the money in from Virgin Money directly. If you withdraw money another way, you will lose the tax-free status.
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.
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. You can find our number at virginmoney.com/report-fraud.
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.
You can also transfer your money from a Fixed Rate ISA between 24 February 2026 and 1 June 2026 without giving notice, and without any charges.
If you think you might be affected, please 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 unbiased.co.uk/pro/contact-us Link opens in a new window.
If you have a joint account, you are covered up to £240,000. That’s because you’re covered for £120,000 per person and not per account.
No. There are no changes to your savings interest rate as a result of the transfer to Nationwide on 2 April 2026. We’ll always give you plenty of notice before any rate change happens.
No. 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. Your PIN, sort code and account number haven’t changed.
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.
Yes. Nationwide became the ISA Manager of your ISA account from the date of transfer, which happened on 2 April 2026. This means that your Virgin Money cash ISA is now managed by Nationwide.
ISA Managers are approved by HM Revenue & Customs (HMRC) to manage ISAs for customers in line with regulations and the product terms and conditions. Nationwide is an approved ISA Manager (FCA reference number 106078).
Your new ISA Manager address is Nationwide Building Society, Pipers Way, Swindon, Wiltshire, SN38 1NW.
For the 2025/2026 and 2026/2027 tax years, the maximum ISA subscription is £20,000 per person.
Yes. You have the right to move your ISA(s) to another provider. This is known as an ISA transfer and it makes sure that the money in your ISA(s) keeps its tax-free status if you move it.
If you want to transfer to a new provider, you’ll need to contact them to arrange the transfer on your behalf. The provider would then contact us, and we would transfer your ISA(s) to them.
If you’re planning to do this, you should check your Terms to see if you’ll pay any charges, or if you’d lose out on any interest you’ve earned.
Remember, if you withdraw directly from your ISA(s), or if you close the account(s), the money you withdraw will no longer benefit from its tax-free status. The only way to move the money in your ISA(S) to another provider and keep the tax-free status is to do an ISA transfer.***
If you took out a new cash ISA with Virgin Money before 2 April 2026, this has now transferred to Nationwide.
***You can transfer your cash ISA(s) under regulation 21 of the Individual Savings Account Regulations 1998.
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. 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.
