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Virgin Money's business bank, part of Nationwide since April 2026, offers letters of credit, collections, guarantees, trade loans and a UK Export Finance backed General Export Facility of up to GBP 31.25 million.
Virgin Money (Nationwide) scores 3.0 out of 5 (60 out of 100) in the Buckingham Intelligence Trade Finance Index 2026 and ranks 5 of 14. It is strongest for UK exporters using a UK Export Finance backed facility, with 5 out of 5 for products and standing. Not published or not stated on the pages read: published cost, facility size and tenor and speed.
Scores from the Trade Finance Index 2026.
| Segment | Score out of 100 | Rank |
|---|---|---|
| For importers | 60 | 5 of 14 |
| For exporters | 57 | 6 of 14 |
| For wholesalers | 62 | 4 of 14 |
The score out of 5 is the overall score out of 100 divided by 20. Leader goes to the top three overall, Best for to the first in each segment, and Top rated for to a score of 5 out of 5 on a criterion. Awards cannot be bought.
Where it scores best, and where to check closely, as shown in each ranking.
UK exporters using a UK Export Finance backed facility.
What Virgin Money (Nationwide) publishes on its own pages, read on 21 October 2026.
Virgin Money's business bank, part of Nationwide since April 2026, offers letters of credit, collections, guarantees, trade loans and a UK Export Finance backed General Export Facility of up to GBP 31.25 million. Its international trade tariff publishes commissions; loan pricing is not published.
| Fact | What the provider publishes |
|---|---|
| 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'. |
| 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). |
| 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'. |
| 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. |
| Speed | Processing times not published. |
| 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 and history | A UK building society taking FSCS-protected deposits; 'Virgin Money are members of the UK Government Export Finance Scheme'. |
| Date read | 21 October 2026 |
A fact that is not published is scored as not offered or, for a fee, as if it were high. It is never estimated.
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/….
Each score with the evidence behind it.
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
The other providers in the same ranking, ordered by score.
| Provider | Score out of 5 | Rank | Strongest for |
|---|---|---|---|
| Wayflyer | 3.9 | 1 of 14 | Inventory funding for brands and wholesalers |
| Settle | 3.2 | 2 of 14 | US consumer brands extending supplier terms to 180 days |
| Ebury | 3.2 | 3 of 14 | Unsecured import finance with FX in one account |
| HSBC Hong Kong | 3.1 | 4 of 14 | Asian traders needing letters of credit and trade loans |
| Kriya | 2.9 | 6 of 14 | UK exporters financing invoices to overseas buyers |
| Funding Societies | 2.7 | 7 of 14 | Singapore SMEs paying overseas suppliers |
| Tradewind Finance | 2.4 | 8 of 14 | Export factoring with credit protection |
| Credlix | 2.3 | 9 of 14 | Indian exporters selling to the US and Europe |
| Drip Capital | 2.3 | 10 of 14 | Unsecured supplier payment terms for US importers |
| Clearco | 2.0 | 11 of 14 | US e-commerce brands paying overseas suppliers' invoices |
| Bibby Financial Services | 2.0 | 12 of 14 | UK exporters wanting invoice finance with bad debt cover |
| 8fig | 2.0 | 13 of 14 | Online sellers funding inventory and supply chain costs |
| NatWest | 1.4 | 14 of 14 | UK businesses wanting a full bank trade finance range |
Side by side on every criterion, fact and award.
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