Clydesdale Bank named a Fast Payer by Good Business Pays in its Fast Payer Awards 2025
Clydesdale Bank is proud to announce that it has received the Fast Payer Award 2025, a distinction granted by Good Business Pays Link opens in a new window to under 10% of the UK’s largest organisations.
This accolade, awarded to Clydesdale Bank which trades as Virgin Money, underscores the bank’s commitment to supporting its suppliers through timely payments.
In the period 1 October 2024 to 31 March 2025, the bank paid 97% of its supplier invoices within 30 days, with an average time taken to pay invoices of just 11 days1, reflecting its focus on building successful partnerships with suppliers and supporting small and medium-sized enterprises (SMEs).
Simon Norman, Head of Business Bank at Virgin Money said "SMEs are the beating heart of the UK economy and cashflow is their oxygen supply, which means they need to be confident that companies they supply will pay them on time.
"We’re committed to supporting businesses, and we’re proud to receive another Fast Payer Award in 2025, putting us in the top 8% of big companies for our fast and fair payment terms to suppliers."
Good Business Pays recognises companies as a Fast Payer where they pay suppliers in less than 27 days on average, and pay over 95% of their invoices on time over a 12 month rolling period.
1Data published on gov.uk Link opens in a new window