Nationwide Building Society has confirmed that customers are being hit with delays in transfers to other banks or building societies.

The bank has implored customers not to resend cash, as it is ‘in a queue and and will arrive ASAP’.

A service status update on the building society’s website states that ‘all payments to and from other building societies and banks are delayed’.

However, users can still move money between your Nationwide accounts or to another person’s Nationwide account. Also, Direct Debits and standing orders are working normally, cards are still working online and in shops and you can still withdraw money at cash machines.

Nationwide Building Society – the UK’s oldest, having been founded in 1884, reached an agreement to buy Virgin Money in a £2.9 billion deal earlier this month.

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The deal, which will eventually see the Virgin Money brand disappear gradually over six years, will also pave the way for the creation of one of the UK’s largest mortgage and savings groups. 

Under the terms of the deal, Nationwide tabled a 220p-a-share approach for Virgin Money, which includes a planned 2p-per-share dividend pay out. This offer represents a substantial 38% increase over Virgin Money’s closing share price at the time of writing.

The combined entity now boasts a market value of around £366.3bn, with total lending and advances reaching approximately £283.5bn.