B (bank) explained

B
Type:Trading name
Foundation:3 May 2016
Defunct:4 December 2019
Hq Location:30 St Vincent Place, Glasgow, Scotland, G1 2HL, United Kingdom
Industry:Banking, Financial services
Services:Retail banking
SME banking
Parent:Clydesdale Bank plc

B was a banking brand in the United Kingdom which operated between 2016 and 2019 as a trading division of Clydesdale Bank plc.[1] B focused on app-based banking and computer learning of personal finances to help customers manage their money.

History

B offered an app-based current accounts that is paired with a savings account.[2] B's bank cards use the Mastercard system for both debit and credit cards.[3] B also offered a credit card, with a selling point of consistently low interest rates and no foreign transaction fees.

In June 2019 CYBG plc, the parent company of Clydesdale Bank plc announced that the B brand was to be phased out and replaced by the Virgin Money brand in December 2019.[4] [5]

B closed applications for new current accounts on 4 December 2019 and existing B accounts were re-branded as Virgin Money the following day.[6]

Notes and References

  1. Web site: Announcing "B" – the new face of banking – CYBG. www.cybg.com. 19 June 2018.
  2. Web site: Designed for Better Banking – B Digital Banking. www.youandb.co.uk. 19 June 2018.
  3. Web site: Got a Question? Get in Touch with the Studio B Team. www.youandb.co.uk. 19 June 2018.
  4. Web site: Launching the new Virgin Money. 19 June 2019. CYBG.
  5. Web site: Clydesdale and Yorkshire bank's 157 branches to be renamed "Virgin Money UK" . The Mirror . 28 September 2019.
  6. 1202583206190571521. VirginMoney. It was an exciting day yesterday as B became Virgin Money! You may have seen that your account is now called Virgin… . 5 December 2019.