Nationwide Building Society

Nationwide Building Society is one of the UK's biggest financial providers: the second largest provider of mortgages and retail deposits in the country, and, following its takeover of Virgin Money, connected with one in three people in the UK¹. It is a building society rather than a bank, which means it has no shareholders and is owned by its members, the people who save or borrow with it².

Its range covers most of what a household needs from a high street name: current accounts, savings, ISAs, mortgages, credit cards, loans and insurance. Since April 2026 it also runs Virgin Money and Clydesdale as trading names, so a Virgin Money credit card or current account is now provided by Nationwide³.

What Nationwide offers: current accounts, savings, ISAs and mortgages

Nationwide sells most mainstream retail products, and it is a big player in several of them. It is the second largest provider of mortgages and retail deposits in the UK¹. It is also one of the firms designated under the rules to offer fee-free basic bank accounts, so people who cannot get a standard account may be able to open one with it⁷.

Current accounts

Nationwide's current account range includes FlexDirect, a fee-free account, and FlexPlus, a packaged account that bundles extras such as insurance benefits for a monthly fee; how the fee and benefits work is set out on the Nationwide FlexDirect page and on Nationwide's own site for FlexPlus⁹. Through Virgin Money it also offers the Virgin Money Essential account, the M Plus account and the Club M account, each covered on their own pages: Virgin Money Essential, Virgin Money M Plus and Virgin Money Club M. How packaged account monthly fees work, and when they are worth paying, is explained in the current accounts guide.

Savings and ISAs

Nationwide takes retail deposits across easy-access accounts, fixed-rate bonds and cash ISAs, including Flex Instant Saver, explained on the Nationwide Flex Instant Saver page. Virgin Money, which is now part of Nationwide, also sells cash ISAs, with its Cash ISA administration handled by a team in Sunderland¹⁰. Nationwide does not publish rates on this page: rates change often, so check its own site for today's figures. How the different types of savings account work is covered in the savings guide, and the tax rules for ISAs in the ISA guide.

Mortgages

Nationwide is the UK's second largest mortgage lender¹. It has also reserved some of its mortgage deals for existing borrowers only: in 2025 it had four sub-4% products open only to existing customers¹¹, which is one reason to ask about product transfer deals when a fixed rate ends. The mortgages guide and home buying guide explain how mortgages work step by step.

Credit cards, loans and insurance

Nationwide issues credit cards on the Visa scheme¹², including the Member Card, covered on the Nationwide Member Card page. Through Virgin Money it issues the Virgin Atlantic Reward and Virgin Atlantic Reward+ cards, covered at Virgin Atlantic Reward and Virgin Atlantic Reward+. It also lends through personal loans and sells insurance; where it sells insurance it does not underwrite, the policy documents name who provides the cover. The loans guide, credit cards guide and insurance guide set out how each product type works and what to compare.

Nationwide is a mutual: what membership means for customers

A building society is mutual: as the Building Societies Association puts it, "Being mutual means that most customers who have a savings account, or mortgage, are members and have certain rights that come with being a member"¹³. There are no shareholders to satisfy, so profits are not paid out as dividends to outside investors. Nationwide describes itself the same way: a business owned by its members and run for their benefit⁶.

In practice, membership comes automatically. Nationwide's own terms state: "By opening an account with us, you'll become a member of Nationwide Building Society, which gives you certain membership rights"¹⁴. Members can vote at the society's annual meeting on matters such as the appointment of directors and, in some cases, changes to the society's rules. Membership does not mean preferential rates: Nationwide's products are priced in the same market as the banks', and its mortgage deals are not automatically cheaper for members.

The membership principle also extends to the people joining from Virgin Money. Under the transfer arrangements, Clydesdale's eligible savings customers become investing members of Nationwide and its eligible mortgage customers become borrowing members¹⁵. So a former Clydesdale or Virgin Money customer is now a member of the society in the same way a long-standing Nationwide saver is. Nationwide has around 16 million members¹⁶, a figure that predates the Virgin Money transfer.

Virgin Money and Clydesdale joining Nationwide: what changes for customers

Nationwide completed its takeover of Virgin Money on 1 October 2024¹⁵. After Court approval on 23 February 2026, the Virgin Money and Clydesdale Bank businesses transferred to Nationwide on 2 April 2026¹⁷. Virgin Money and its heritage brands, Clydesdale Bank and Yorkshire Bank, are now part of Nationwide Building Society¹⁸.

For customers, the practical changes are mostly about the name on the paperwork rather than the accounts themselves. One change to expect is the Nationwide Building Society name appearing at the bottom of letters and statements, where Clydesdale Bank PLC used to be¹². Wherever documents used to say Clydesdale Bank PLC trading as Virgin Money, they now mean Nationwide Building Society trading as Virgin Money¹⁷. The brands continue: Nationwide, Virgin Money and Clydesdale all remain in use⁴. Accounts, cards and mortgages have carried on as before, with the same terms, and the FSCS position is explained later on this page.

One thing that does change is membership. Because Nationwide is a mutual, the former Clydesdale customers became members of the society as part of the transfer¹⁵, something that would not have happened under a bank's ownership. Another is that the two brands still run separate administration in some areas: for bereavement and power of attorney, customers with accounts at both Nationwide and Virgin Money need to contact each separately, which is covered below.

How payments and transfers work, and what they cost

Nationwide's cards run on the Visa network¹², so card payments at home and abroad work the way Visa payments do anywhere: the exchange rate and any foreign usage charge are set by the scheme and the provider, and Nationwide's current charges are listed in its account terms. For everyday UK payments, transfers between UK accounts generally arrive the same day, and standing orders, Direct Debits and CHAPS payments are all supported.

For mortgage customers, the payment mechanics are fixed in Nationwide's general mortgage conditions. A monthly payment is due on the first day of each month until the mortgage is repaid¹⁹. When Nationwide sends money for a mortgage, interest starts at different points depending on how the money travels: for CHAPS or Faster Payment, interest starts the same day the money is sent, while for BACS it starts two working days after the day the money is sent¹⁹. That difference matters when timing a completion or a transfer of equity.

One rule in Nationwide's current account terms worth knowing is set-off. Nationwide states: "We can also do this when you owe money to other companies in our group including The Mortgage Works (UK) plc and UCB Hom"¹⁴, meaning that if you fall behind on a debt owed to another company in the Nationwide group, Nationwide can take money from any of your accounts to cover it. This applies to money in current and savings accounts, so anyone with both savings and a group debt should be aware of it.

Banking with Nationwide: app, online, phone and branches

Nationwide's mobile app is used by 7 million members, and as of September 2026 it was rated 4.8 stars in both the App Store and Google Play⁹. Through the app and online banking you can check balances, make payments, manage cards and apply for products. Phone banking is available for routine banking, and branches handle everything from cash paying-in to appointments for mortgages and life-event support.

The branch promise is Nationwide's best-known commitment: every one of its 605 branches will remain open until at least the start of 2030², and 152 of those are the last branch in their town². That is a dated promise rather than a permanent one, so the position beyond 2030 is not guaranteed, but it sets Nationwide apart from banks that have been closing branches. For lost or stolen cards, Nationwide has a 24-hour line on 0800 055 66 22, with an international number available¹².

Like all banks, Nationwide has had service problems. Customers were hit by outages in recent weeks in 2025, and Nationwide committed that no member would be left out of pocket as a result, refunding all associated fees and charges caused by the issue²⁰. If an outage leaves you out of pocket, that precedent is worth citing in a complaint: the Financial Ombudsman Service expects banks to put things right when IT failures cause loss²¹.

Opening an account, switching and moving an ISA

Opening a current account with Nationwide works like it does elsewhere: an application online, in the app or in branch, with proof of identity and address. Accepted forms of ID across the group include a current UK or non-UK passport, a photocard driving licence from the UK or EU plus Iceland, Liechtenstein, Norway or Switzerland, or a national ID card from those European countries²². Nationwide also offers fee-free basic bank accounts for people who would struggle to qualify for a standard account⁷.

Switching a current account is done under the Current Account Switch Service, which moves payments, closes the old account and guarantees that anything going into or out of the old account is redirected. Nationwide runs switching offers from time to time; the terms are on its own site, and offers commonly exclude people who have held an account with the bank recently or been paid a switching reward before.

Moving an ISA is a different process, and the golden rule is never to withdraw the money yourself: you transfer it. You contact the provider you are moving to, and they arrange the transfer with the old provider, using your sort code, bank account number and account number as the reference²³. A cash ISA transfer should take no longer than 15 working days²³. Since the transfer, money held with Virgin Money and Nationwide counts together towards one £120,000 FSCS limit, which matters for the position explained below.

Complaints: how to complain and Nationwide's complaints record

To complain to Nationwide, you can call 03456 00 66 11, use the Contact us option on its website, or visit a branch¹². You can also complain through the complaints process at nationwide.co.uk/complaint or write to The Complaints Team, Nationwide Building Society, NW 2020, Swindon, SN38 1NW¹⁷. Complaints communications can be sent in large print, on audio CDs or in braille¹⁸.

Timescales work in two tiers. Where a complaint can be resolved to your satisfaction quickly, Nationwide aims to do so within 3 working days after the day it received your complaint¹⁸. Its credit card terms state it will try to give a full response within 3 working days where possible¹². Where a complaint relates to any other matter, allow up to 56 days¹⁸. If you are unhappy with the final response, you can refer the complaint to the Financial Ombudsman Service within 6 months of receiving it¹². The ombudsman's process is to fill in its complaint form, after which a case handler investigates and may ask for more information²¹. The service is free.

On volume, Nationwide's group complaints data for the six months from October 2025 to March 2026 shows 93,640 banking and credit card complaints opened and 92,924 closed, a rate of 2.24 per 1,000 accounts, plus 6,915 home finance complaints, a rate of 3.57 per 1,000 balances outstanding¹⁸. Earlier ombudsman data recorded 1,650 new cases about Nationwide in the first half of 2024²⁴. Volume alone does not tell you how a firm treats complainants; the ombudsman's uphold rate and your own final response letter matter more.

Bereavement and power of attorney: managing someone else's accounts

If someone dies, anyone can tell Nationwide: online through a DocuSign form, at a branch, on the phone or by post, though the personal representative's details are needed so Nationwide can contact them²⁵. Nationwide then sends a letter with a summary of the accounts the person held, information on what has been done to protect them, and an account closure form²⁵. If the person had accounts with both Nationwide and Virgin Money, you need to tell both separately²⁵.

For funeral costs, Nationwide can release money before the estate is settled. It can pay a funeral provider in advance or a deposit, using the provider's estimate if final costs are not yet known, or pay up to the full amount with the final invoice²⁶. Payment is made by a cheque payable to the funeral service and courts, or by transfer to the personal representative's existing Nationwide account²⁶. The claim form and proof of expenses can be returned at a branch or by post to Bereavement Services, Specialist Customer Support, Nationwide Building Society, Swindon, Wiltshire, SN38 3FN²⁶.

Virgin Money runs its own bereavement service, with a team available Monday to Friday 8am to 6pm, Saturday 8am to 3pm and Sunday 10am to 1pm, and calls free from UK landlines and mobiles²². Its rules include a probate threshold: an original or certified copy of a Grant of Probate, Letters of Administration or Certificate of Confirmation is needed where the balance of the accounts is £50,000 or more, and a form is provided instead where the balance is less than £50,000 and no probate document is held²². Once everything is received, Virgin Money aims to close accounts and release money within 5 to 10 working days²². On death, a sole account is frozen and payments stopped, while a joint account becomes a sole account and continues as normal²².

For power of attorney, Nationwide asks to see proof of identity for attorneys, including attorneys who are not Nationwide customers, whether the registration is done online, in branch or by post²⁷. If you have accounts with both Nationwide and Virgin Money, you need to contact both separately to register the power of attorney²⁷. For urgent access to someone's money when no power of attorney exists, Nationwide has a dedicated line on 0800 464 30 18²⁷. Free guidance on managing someone else's money is available from MoneyHelper.

Spotting scams: what Nationwide and Virgin Money will never ask

The clearest scam test is what a genuine bank will never do. Nationwide and Virgin Money state they will never ask you to move your money to another account, to change any Direct Debits or standing orders, or for security details over the phone, by email or by text¹⁷. Virgin Money adds that it will never ask you to move money to keep it safe, to make a payment to stop fraud, to share passwords, one-time passcodes or security codes, to download software, to keep a call or payment secret, to approve a transaction to stop fraud, to reverse a payment or move money to a "safe account", or to share your screen²⁸. It does not contact customers on WhatsApp or ask to move a conversation there²⁸.

If a call seems wrong, hang up and call back using the number on the back of your card, or call 159, a secure number that no one can spoof or impersonate, which is voice automated: say "Virgin Money" and you are put through²⁹. Never give bank details, passwords or PINs to anyone who contacts you unexpectedly²⁹. If you have moved money or shared information, contact the bank right away, and report suspected fraud to Action Fraud, the national fraud and cybercrime reporting centre²⁹.

The same warnings come from official sources. NI Direct lists what banks, building societies, utility companies, lottery organisers, law enforcement and statutory bodies will never do: ask for payment in vouchers, ask you to transfer money over the phone to a different account, ask for any part of your PIN, ask for remote access to your computer or phone, ask for money for a "free gift" or "admin fee", threaten to arrest you over the phone for not paying a fee, or ask you to go to the bank to transfer money³⁰. Any of these is a scam whatever the caller claims. The scams and fraud guide covers the main types and what to do next.

How your money is protected by the FSCS

Money held with Nationwide is protected by the Financial Services Compensation Scheme, the body that gives automatic protection up to £120,000 if your bank, building society or credit union fails⁵. The limit is £120,000 per person, per firm⁵, and it applies to deposits only: it does not cover investments or losses from scams.

The critical point since the Virgin Money transfer is that the limit is per firm, not per brand. Virgin Money's own FSCS guide states that combined deposits with Virgin Money and Nationwide are covered up to £120,000 per person³¹. In other words, £120,000 in Nationwide plus £50,000 in Virgin Money is £170,000 with one firm, of which only £120,000 is protected. The FSCS's own example shows £120,000 held with Nationwide as fully protected³². You can check your combined position using the FSCS protection checker³².

Two further limits are worth knowing. FSCS deposit protection only covers money held by UK branches of banks and building societies³³, so deposits held abroad through a group's overseas arm may not count. And for insurance, FSCS cover works differently: it protects the policy rather than a balance, paying 90% of property claims and 100% of whole of life assurance claims where the insurer fails³⁴. Nationwide's own deposits, and Virgin Money's, are covered by the deposit scheme; insurance sold through the group is covered by the insurance rules.