What this means for suppliers

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.

As long as the Court gives its approval, we expect the transfer to happen 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 is due to take place in the High Court in London on 23 February 2026, though this date may change. If it does, we’ll update our website at virginmoney.com/nationwide-transfer.

After the transfer, agreements and contracts will legally be with Nationwide, but we will still use the ‘Virgin Money’ and ‘Clydesdale’ brands for now.

You won’t notice any difference in your day-to-day business with us and our contact details will stay the same.

Any invoices you send to us from the date of the transfer will need to be addressed to Nationwide Building Society as opposed to Clydesdale Bank PLC, but please continue to send these to us at the usual address, SM.CB.invoices@DXC.com.

Yes. You can 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

Yes. You can object to the transfer any time before the hearing, or at the hearing itself. We expect it to take place in the High Court in London on 23 February 2026.

Here’s how you can object:

1. You can call, email or write to us with your objection using the details below. Alternatively, you can visit your nearest branch. We’ll then share a copy of any objection with the Court.
2. You can attend the hearing in person – the Court does not accept objections in writing. There’s no fee for attending.
3. You can appoint a legal representative to attend the Court hearing on your behalf (this would be at your own cost).

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 email us at nationwide-transfer@virginmoney.com, or write to us at:

Nationwide Transfer
The team at Virgin Money
Sunderland
SR43 4JB

If you’re planning to object in any of these ways, it would be helpful if you could let us know before 9 February 2026. We can let you know of any changes to the date of the hearing and any details you might need to go to the hearing. We’ll also try to address any of the concerns you’ve raised before the hearing.

We’ll reply to all objections, and we’ll submit copies of any objections we receive to the Court, as well as to the Prudential Regulation Authority and the Financial Conduct Authority.

If you object in writing or by email, please make sure you outline why you think the transfer will impact you.

You won’t be able to object after the hearing on 23 February 2026.

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.

No, unless we have specifically contacted you to tell you otherwise, your contract will automatically move to Nationwide as party of the transfer, without any need for you to enter into a novation or any other document, and without the need for you to provide consent. This is because the transfer will be made in line with a banking transfer process that’s governed by Part VII of the Financial Services and Markets Act 2000 and approved by the Court. We expect this to happen on 2 April 2026, subject to Court approval.

Yes. Your contractual rights and obligations will remain the same. The only change is that your contract will be with Nationwide Building Society rather than Clydesdale Bank PLC trading as Virgin Money.

Nationwide Building Society. After the transfer has become effective, your contract will be with Nationwide Building Society rather than Clydesdale Bank PLC. Nationwide Building Society is registered in England, number 355B. Its registered office is: Nationwide House, Pipers Way, Swindon SN38 1NW.

No. Your physical contractual documents will not be updated as part of this process. Once the transfer has become effective, all references to Clydesdale Bank PLC and its corporate details (such as registered number and registered address) are deemed to read as references to Nationwide Building Society and its corporate details. In any future contract amendment(s) we will reference Nationwide Building Society as being the contracting entity.

The agreement you have with Virgin Money might say something like:

(a) Virgin Money must get your consent before they transfer your agreement/ account to another party.
(b) You can end or change your agreement/account if Virgin Money transfers it to another party.
(c) You’re entitled to a payment if Virgin Money transfers your agreement/ account to another party.

However, the transfer to Nationwide will be made in line with a banking transfer process that’s governed by Part VII of the Financial Services and Markets Act 2000 and approved by the Court. This process means that these provisions won’t apply to this transfer.

There will be no change to who your point of contact is in the short term to medium term; please continue to engage with your existing Procurement contacts at Nationwide and Virgin Money.

No, your RM won’t change due to this process. If we make any changes at a later date, we will let you know as per our standard practice.

Yes. While the transfer won’t change the way you do business with us, any invoices you send to us from the date of the transfer will need to be addressed to Nationwide Building Society as opposed to Clydesdale Bank PLC, but please continue to send these to us at the usual address, SM.CB.invoices@DXC.com

Whilst we expect that the transfer will happen on 2 April 2026, this is subject to change. We will send a further communication closer to the time confirming the exact arrangements and timing of the transfer. Please continue to engage via your existing Procurement contacts in Virgin Money and Nationwide in the meantime.

Any existing purchase order numbers used for invoicing will continue to be valid.

No, you don’t need to update this information.

No, as long as invoices raised from the transfer effective date are addressed to Nationwide Building Society. Any invoices addressed to Clydesdale Bank PLC may be rejected or subject to delays.

Yes, you should continue to use the same portals or systems after the transfer. If we make any changes at a later date, we will let you know as per our standard practice.

No. Please continue to submit invoices using the existing processes.