Comparison · 2026 edition
Virgin Money (Nationwide) vs Wayflyer: trade finance compared 2026.
Virgin Money (Nationwide) and Wayflyer side by side in the Trade Finance Index 2026: scores, evidence, published facts and awards.
WhatsApp and Telegram +44 7563 115980
[email protected]
Virgin Money (Nationwide) and Wayflyer side by side in the Trade Finance Index 2026: scores, evidence, published facts and awards.
In the Trade Finance Index, Wayflyer scores higher overall: 3.9 out of 5 (78 out of 100) against 3.0 (60), ranking 1 and 5 of 14. Wayflyer also scores higher in every segment.
Overall and segment scores out of 100, and the score out of 5.
| Score | Virgin Money (Nationwide) | Wayflyer |
|---|---|---|
| Score out of 5 | 3.0 | 3.9 |
| Score out of 100 | 60 | 78 |
| Overall rank | 5 of 14 | 1 of 14 |
| For importers (out of 100) | 60, rank 5 | 79, rank 1 |
| For exporters (out of 100) | 57, rank 6 | 79, rank 1 |
| For wholesalers (out of 100) | 62, rank 4 | 76, rank 1 |
| Type | UK building society (Nationwide) | Irish non-bank lender |
Each score with the evidence behind it.
| Criterion | Virgin Money (Nationwide) | Wayflyer |
|---|---|---|
| Products | 5/5 Letters of credit, collections, guarantees, import and export loans, bill discounting and a UKEF-backed facility are published. | 3/5 Inventory financing and working capital advances are published; no receivables or supplier finance as such. |
| Published cost | 3/5 Commissions and minimums for trade services are published; loan pricing is not. | 5/5 A worked example ($100,000 financed, $4,200 fee) and a 5% to 10% fee range are published. |
| Facility size and tenor | 3/5 Only the General Export Facility maximum (GBP 31.25 million, up to two years) is published. | 3/5 Up to $20 million published, with no minimum and no stated term. |
| Speed | 0/5 No processing times published. | 5/5 An offer in as little as 24 hours and funds within one to three business days are published. |
| Access | 2/5 UK businesses only, with published export criteria for the UKEF facility. | 4/5 Eleven countries of incorporation, published revenue minimums and no personal guarantee. |
| Standing | 5/5 A deposit-taking UK building society with FSCS protection. | 3/5 An established non-bank with a named Irish company and published offices; no licence or external funding source. |
Each criterion is scored 0 to 5 against the best published offer in the Trade Finance Index. 0 means not offered or not published. How it is scored
What each provider publishes on its own pages, read on 21 October 2026.
| Fact | Virgin Money (Nationwide) | Wayflyer |
|---|---|---|
| Legal status | Tariff issued by 'Nationwide Building Society (trading as Virgin Money)'. Following court approval on 23 February 2026, Virgin Money's business transferred to Nationwide on 2 April 2026; 'Nationwide is now your account provider'. FSCS 'protects eligible deposits up to £120,000 per person'. | 'Wayflyer Limited trading as "Wayflyer", registered in Ireland under company number 602786', registered office One Spencer Dock, North Wall Quay, Dublin 1. No licence or regulator named; platform terms 'governed by Irish law' (effective 14 October 2026). |
| Products | Import and export letters of credit, documentary collections, international guarantees and bonds, import and export trade loans, avalisations and bill discounting, and the General Export Facility (UK Export Finance backed). | Inventory financing ('a smarter alternative to PO financing and invoice factoring'), merchant cash advance ('Our core funding product') and fixed-term loans. |
| Published cost | International trade tariff: import LC 'Opened 0.35% per first 3 months or part thereof. Min £75.00', then 0.12% a month; export LC advising GBP 50, acceptance 0.15% a month (min GBP 50); sight collections 0.275% (min GBP 30, max GBP 100); usance collections 0.4% (min GBP 40, max GBP 120); guarantees '2.5% per annum' plus GBP 160 establishment fee. Trade loan pricing not published; General Export Facility: 'Arrangement fees are payable every year'. | Inventory financing worked example: $100,000 financed, $4,200 fee, $104,200 to repay. Help centre: one fixed fee 'typically between 5% and 10% of the total advance amount', example $100,000 at 6% = $6,000 fee. No interest, set-up, prepayment or late fees listed. |
| Facility size and tenor | General Export Facility 'up to a maximum equivalent £31.25m', standard terms up to 2 years (up to 5 with approval). Other sizes and tenors not published. | Inventory financing 'up to $20M'; minimum not published. Repayment of the amount plus a fixed fee in set instalments (weekly, bi-weekly and monthly are shown); the FAQ says inventory financing typically bridges '30 to 120 days'. Term length not stated. |
| Speed | Processing times not published. | Offer 'in as little as 24 hours'; funds 'within 1-3 business days' (help centre) or 'as little as 24 hours' after approval (inventory page). |
| Who can apply | Business 'must be based and operate in the UK', excluding the Channel Islands, Isle of Man and Northern Ireland; applicants 18 or over. General Export Facility: at least 5% export sales in each of the last three years, or over 20% in any one year. | Funding generally: incorporated in the United States, Canada, United Kingdom, Australia, Ireland, Spain, the Netherlands, Belgium, Denmark, Germany or Sweden; minimum average monthly revenue $10,000 (or EUR 10,000, GBP 10,000, AUD 20,000, CAD 20,000) for 6 months; 6 months trading for goods sellers. Inventory financing: US, UK or Australia, 12 months trading. 'No personal guarantees.' Dropshippers not funded. |
| Funding and history | A UK building society taking FSCS-protected deposits; 'Virgin Money are members of the UK Government Export Finance Scheme'. | Offices in Dublin, Charlotte, London, New York, Sydney and Berlin (terms page). Customer agreements are with 'a Wayflyer group company'; no external funder named. |
| Date read | 21 October 2026 | 21 October 2026 |
Not published or not stated by Virgin Money (Nationwide): published cost, facility size and tenor and speed.
Not published or not stated by Wayflyer: legal status, published cost, facility size and tenor and funding and history.
Facts read on 21 October 2026 from: uk.virginmoney.com/business/…, uk.virginmoney.com/downloads/pdf/business/…, uk.virginmoney.com/business/…, uk.virginmoney.com/nationwide-transfer/…; and wayflyer.com/wholesale-financing, help-center.wayflyer.com/en/articles/…, help-center.wayflyer.com/en/articles/…, help-center.wayflyer.com/en/articles/…, wayflyer.com/terms.
Awards follow from the published scores and cannot be bought.
From each provider's strongest criteria and published terms.
UK exporters using a UK Export Finance backed facility.
Inventory funding for brands and wholesalers.
Tell us what you need and where you operate.