What this means for suppliers

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 at the High Court in London on 23 February 2026. Following Court approval on this date, Virgin Money’s business transferred to Nationwide at 23:59 on 2 April 2026.

As a result of the transfer, 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 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 as a result of the transfer and our contact details stayed the same as they were before the transfer.

Any invoices you send to us from 3 April 2026 must 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.

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

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.

No, unless we have specifically contacted you to tell you otherwise, your contract automatically moved to Nationwide on 2 April 2026 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 was 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. Following Court approval on 23 February 2026, the transfer from Virgin Money to Nationwide completed at 23:59 on 2 April 2026.

Yes. Your contractual rights and obligations remain the same as they were prior to the transfer. The only change is that your contract is now with Nationwide Building Society rather than Clydesdale Bank PLC trading as Virgin Money.

Nationwide Building Society. As the transfer has now completed (on 2 April 2026) your contract is now 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 have not been updated as part of the transfer process. However, now that the transfer has become effective as of 2 April 2026, all references to Clydesdale Bank PLC and its corporate details (such as registered number and registered address) are now deemed to read as references to Nationwide Building Society and its corporate details. 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 was 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 didn’t apply to this transfer.

There is 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 hasn't changed 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 hasn’t changed the way you do business with us, any invoices you send to us from 3 April 2026 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

The transfer completed on 2 April 2026 and we sent further communications around this time confirming the exact arrangements and timing of the transfer.

Please continue to engage via your existing Procurement contacts in Virgin Money and Nationwide.

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

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

No, as long as invoices raised after the transfer (on 2 April 2026) 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 as you did before 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.