Thu Mar 13 08:00:00 UTC 2025: ## Nationwide to Pay £50 to 12 Million Customers Following Virgin Money Takeover
**London, UK** – Nationwide Building Society, the UK’s largest building society, will distribute £600 million in £50 payments to over 12 million of its customers. The payment, described as a “thank you” to members, follows last year’s £2.8 billion acquisition of Virgin Money.
The payout will reach most customers by the end of April, either directly into their accounts or via cheque. Nationwide is contacting eligible members to inform them of the payment method and timing. Approximately four million customers will not receive the payment, based on unspecified eligibility criteria. Customers of the former Virgin Money (including Clydesdale and Yorkshire Bank) are also ineligible.
Nationwide CEO Debbie Crosbie stated the payment acknowledges members’ contribution to the society’s financial strength, which enabled the Virgin Money acquisition. This deal made Nationwide the UK’s second-largest provider of mortgages and savings accounts.
The decision not to hold a member vote on the takeover, unlike Virgin Money’s approach, sparked controversy. Nationwide’s board determined member approval was unnecessary. The £50 payment is separate from the society’s existing profit-sharing scheme.
First Piper 