Has the clydesdale bank been taken over?Asked by: Theresa Edwards | Last update: 18 June 2021
Score: 4.4/5 (71 votes)
By the end of February, it will have disappeared from the fascia of all its branches, replaced by Virgin Money. That bank, based in Edinburgh, was taken over by Clydesdale, or to be more accurate, its parent company listed on the stock market as CYBG. The 'Y' stands for its other legacy brand, Yorkshire Bank.View full answer
Herein, Is Virgin Money taking over Clydesdale Bank?
The group is working through a previously announced restructuring which involves the closure of some branches and the merging of others, as well as rebranding all Clydesdale and Yorkshire branches under the Virgin Money banner, by the end of 2021.
Similarly one may ask, What's happening with Clydesdale Bank?. The Clydesdale Bank brand will be ditched despite being established back in 1838. It survived after being acquired by Midland Bank in 1920 and when it was sold to National Australia Bank in 1989. Yorkshire Bank, the other brand to be dumped, dates back to 1859.
Keeping this in consideration, Who is Clydesdale Bank owned by?
We are part of Virgin Money UK PLC, one of the UK's leading banking groups.
Is Clydesdale Bank now virgin?
The rebranding of Clydesdale Bank into Virgin Money is largely complete, the so-called “challenger” banking group has announced. ... The change of moniker for the former Clydesdale and Yorkshire businesses has given the group fresh “momentum” coming out of lockdown, Mr Abrahams said.
Virgin Money has been paying Virgin Group, which is 100% owned by Branson, a billionaire, about £11m-£12m a year in licence fees to use the Virgin name since the takeover.
Sir Richard Branson, who owned a 35% stake in Virgin Money, will have a 13% holding in the new combined group. In June 2019, CYBG plc announced its plans to consolidate its businesses under the Virgin Money brand.
I switched over to clydesdale just over 2 years ago now and they are hands down best bank I have ever had. Call centres are always quick to get through to and opening hours in branch are great.
Barclays Bank plc is the 'deposit-taking licence holder' for Barclays Bank, Barclays Direct and Standard Life Cash Savings. ... Clydesdale Bank plc is the 'deposit-taking licence holder' for Clydesdale Bank, B, Virgin Money and Yorkshire Bank.
Protecting your money
Your eligible deposits held by a UK establishment of Clydesdale Bank PLC are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. ... Any total deposits you hold above the limit between these brands are unlikely to be covered.
We're currently experiencing some technical difficulties which are affecting our online, mobile and telephone services. We're working hard to resolve this as quickly as possible and are sorry for any inconvenience caused in the meantime.
Lost or stolen cards
You can also call 0800 345 7365 we're here 24hrs a day (or +44 141 951 7320 if calling from abroad) immediately and report it.
Know Fraud, No Fraud. Virgin Money is fully supportive of the 'Know Fraud, No Fraud' campaign – eight rules designed to keep you and your account safe and secure. Virgin Money will never: Call or email to ask you for your full PIN number or any online banking passwords.
Clydesdale Bank mortgages are available to a wide range of people, but they generally won't lend to you if you have particularly bad credit. Some of the mortgage types on offer include first-time buyer mortgages, buy-to-let mortgages and offset mortgages.
In the UK, a huge number of banks and building societies operate under FCA regulation. Here is a list of some of the banks covered by FSCS: ... Clydesdale Bank, Yorkshire Bank, Virgin Money. The Co-operative Bank, Smile, Britannia.
We have a range of 90% LTV products for purchase and remortgage customers, with the following criteria: Maximum loan amount of £450k. This increases to £750k where the property is in Greater London. Maximum Term of 30 Years.
Virgin Money has sunk to a full-year loss after setting aside £501million to cover bad loans. The challenger bank, which was also knocked by £292million of costs related to its acquisition of Clydesdale and Yorkshire Bank, reported a pre-tax loss of £168million for the 12 months to September.