Message to every Nationwide and Virgin Money customer with savings

Nationwide has completed a takeover of rival Virgin Money

Customers who have savings with Nationwide and Virgin Money have been updated on how they will be affected by a deal between the two groups. Nationwide has completed a takeover of Virgin Money, bringing them together.

Customers have now been told what this means to them. All Nationwide customers have been contacted by email following the completion of the deal, and told what it means for savings.

Nationwide said: "Customers who have savings with both Nationwide and Virgin Money will continue to benefit from the maximum protection offered by the Financial Services Compensation Scheme on each of their Nationwide and Virgin Money accounts.

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"As we integrate Nationwide and Virgin Money carefully over time, the impact we have in communities across the UK, and the benefits we offer to members and customers, will only increase." Nationwide has suggested its services and Virgin Money's will be brought closer over time.

But it said at the moment, Virgin Money branches could not be used for Nationwide transactions. The building society also confirmed all Virgin Money branches would remain open until at least 2028.

It said: "I can also confirm that Virgin Money branches are now included in our Branch Promise. This means that everywhere there is a Nationwide or Virgin Money branch, we promise to still be there until at least the start of 2028.

"Although you will not be able to use Virgin Money branches for Nationwide transactions now, over time we expect to broaden the range of services we offer. You will benefit from the Virgin Money expertise in personal lending and credit cards, as well as business banking and accounts for clubs and societies."