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What does this mean for me?


We'll be working behind the scenes to make the changeover as smooth and seamless as possible. Your contract / agreement are still Virgin Money branded and our contact details will stay the same.

You'll start to see the Clydesdale name at the bottom of things we send, like letters and emails. But the Virgin Money logo will still be at the top and you'll be looked after in the same Virgin Money way.

The transfer hasn't changed the way you do business with us, but as we bring the two businesses even closer together, we may need to change some of our arrangements with you. Of course, any contract amendments would be discussed and agreed with you first.


FAQs


Here are some things you may find useful about the transfer

Virgin Money was a separate bank to Clydesdale, and had its own banking permissions. So that we have one set of permissions we've transferred the business of Virgin Money to Clydesdale to bring the two banks together, and as part of that your agreement has also transferred to Clydesdale.

The newly-combined bank will make the most of the different strengths of Virgin Money and Clydesdale. Our suppliers will benefit from Clydesdale's innovative technology and the customer-focused culture that both businesses have been built on.

Clydesdale is part of the Virgin Money group. Clydesdale trades as “Clydesdale Bank”, “Yorkshire Bank”, “B” and now “Virgin Money”. Based in Glasgow, they have over 175 years of history and offer a full range of banking products and services. These include mortgages, current accounts, personal loans, credit cards and business bank lending.

Now that the transfer has happened, Clydesdale has approximately 6.4 million customers across personal and business banking.

No. You'll start to see the Clydesdale name at the bottom of things we send to you such as letters and emails. You'll still see the Virgin Money name and logo in all of our communications with you. The change means Virgin Money is now a trading name of Clydesdale.

This transfer of Virgin Money's business to Clydesdale is part of our three year phased integration programme which began when both banks joined the same group in October 2018. There are still other exciting steps to come, for example re-branding some Clydesdale products to the Virgin Money brand.

The transfer hasn't changed the way you do business with us, but as we bring the two businesses even closer together, we may need to change some of our arrangements with you. Of course, any contract amendments would be discussed and agreed with you first.

The UK banking transfer scheme we undertook was governed by Part VII of the Financial Services and Markets Act 2000. Under this act, the transfer required approval by the Court.

A hearing took place in the Court of Session in Edinburgh on 26 September 2019 at which the Court approved the transfer of the business of Virgin Money to Clydesdale. The transfer then happened on 21 October 2019.

Of course. You can view a copy of the scheme document, together with a summary of the scheme on the documents page. If you'd rather be sent a free copy of the scheme document or summary, no problem – please just let us know.

You can call our dedicated contact centre on 0800 917 5722* or +44 (0)191 279 3465** if calling from outside the UK. We're here from 9am to 7pm, Monday to Friday and 9am to 3pm on Saturday. Or you can write to us at the FSMA Contact Centre, Virgin Money, Jubilee House, Gosforth, Newcastle Upon Tyne NE3 4PL.

The Court of Session approved the transfer on 26 September 2019, and the transfer happened on 21 October 2019.

The agreement you had with Virgin Money may have stated that:

(a) Virgin Money must get your consent before transferring your agreement/ account to another party;

(b) you can end or change your agreement/ account if Virgin Money transfers it to another party; or

(c) you're entitled to a payment if Virgin Money transfers your agreement/ account to another party.

However, the transfer to Clydesdale has been made in line with a banking transfer process governed by Part VII of the Financial Services and Markets Act 2000 and approved by the Court of Session. Under the terms of this process, these types of provisions wouldn't apply.

Key dates and documents relating to the transfer

View copies of the legal documents detailing the terms of the transfer (the scheme), a summary of that scheme and some key dates.

View key dates and documents

Want to contact us?

Our dedicated contact centre team are here to help

0800 917 5722* or +44 (0)191 279 3465** if calling from outside the UK.

We're here 9am - 7pm Monday to Friday, and 9am - 3pm on Saturday. We may monitor calls for training and quality purposes, and to make sure we comply with regulations.

You can also email us at virginmerging@virginmoney.com or write to us at FSMA Contact Centre, Virgin Money, Jubilee House, Gosforth, Newcastle upon Tyne NE3 4PL.

Stay safe and secure

It's important to keep an eye out for fraud and scams, especially during times of change. To keep yourself safe, please follow these five rules:

  1. Never disclose security details, such as your PIN or full banking password.
  2. Don't assume an email, text or phone call is authentic.
  3. Don't be rushed - a genuine organisation won't mind waiting.
  4. Listen to your instincts - you know if something doesn't feel right.
  5. Stay in control - don't panic and make a decision you'll regret.

If you'd like to know more, visit our Staying safe online pages.

Take five to stop fraud

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