This comparison simply includes all savings accounts.
Virgin Money Current Account
Why we like it: 2.00% interest for 12 months on balances up to £1,500 for the first year. You must pay in £1,000 or more each month to receive interest (excluding transfers from any Nationwide account held by you or anyone else). 12 month fee-free arranged overdraft available. No monthly fee. Access to Flexclusives - Select Credit Card and low personal loan rate. Must be aged 18 or older
Why we like it: Earn 0.60% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% CASHBACK on various household bills. Monthly fee of £5. Cashback capped at £5 for each cashback tier each month. Must pay in £500 pm.
Why we like it: Get set up in minutes. No paperwork, monthly fees or branch visits. Send money abroad: Fast and secure money transfers to bank accounts in 38 countries worldwide. No fees when you pay with your card abroad or withdraw money. Real Mastercard exchange rates and real-time notifications in both currencies. Get a spotlight on your spending: See what you’ve spent instantly with real-time payment notifications. Current account is completely free.: No charge for making electronic payments, domestic transfers or ATM withdrawals. Three-month interest holiday on the first £500 of an arranged overdraft. Earn Interest: current account pays 0.05% AER on balances up to £85,000.Card gone missing? Lock it in-app temporarily while you look for it or cancel it with a tap if you think it’s gone for good. Personal loan available that’s straightforward to use, competitively priced and tailored to you. Best British Bank and Best Current Account in 2018, 2019 and 2020 at the British Bank Awards. Awarded 5 stars by Defaqto too. Fully registered bank and a member of the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000
Why we like it: UK & Europe Breakdown Cover, Worldwide family travel and mobile phone insurance, and commission-free cash withdrawals and card payments abroad. Free mobile banking app, text alerts and secure online banking. Access to Flexclusives - Select Credit Card and low personal loan rate. £13 monthly account fee
Why we like it: Everyday current accout. No monthly account fee. Access to Flexclusives - Select Credit Card and low personal loan rate.
Virgin Money Current Account
Virgin currently only offer the Essential Current Account but are planning to add more options shortly. At the moment you can register your interest on their website for updates about any new accounts that they open.
The Essential Current Account is a great basic account which offers:
- Free withdrawals at almost all high street cash machines.
- Management of your account at Virgin Money Stores and any Post Office.
- The option to earn 0.75% Gross1/AER2 (variable) interest on the balance in your account, up to a maximum balance of £100,000. Interest is paid monthly.
- Fair and simple charges.
- Online and telephone banking.
- No overdraft facility, to help you stay in control of your money.
Virgin is a big name internationally and as such they offer a number of benefits, which help if you travel internationally regularly.
Virgin Money customers are provided with free exclusive use of the Virgin Lounges which offer:
- Wi-Fi and use of iPads.
- There is TV available all day to keep up with the latest news, they also provide the day’s newspapers and a selection of magazines.
- You’re welcome to bring a friend or family member in with you.
- Free tea, coffee and a selection of other hot and cold drinks are always available to Lounge members; plus fruit and snacks are on offer throughout the day.
- Full and anytime use of the customer toilets and baby changing facilities.
- Areas to login and do your online banking or service your Virgin Money products.
- Friendly and helpful staff.
- As well as these services the lounges can be used for local communities to benefit. If you’re looking for a space to hold a community event or meeting for free, then you can get in touch with your nearest Virgin Money Lounge.
- There are also special events for Lounge members.
Exclusive Customer Discounts:
Every current account customer can take advantage of the range of exclusive Virgin products, discounts and more which helps you make more of your money. Some current examples include:
- 5% off Virgin Holiday, Cruise and Worldwide Journey packages
- 10% off selected advance fares on Virgin Trains
- £25 cashback on Virgin Money Travel Insurance
- Extra discounts on selected BCP car park deals
- £25 cashback on Virgin Money International Money Transfers
- £25 cashback on Virgin Money Home Insurance
- Enjoy 1 free month (worth up to £23) of Virgin Pure
- £50 cashback on Virgin Personal Pension
- £25 cashback on Virgin Money Pet Insurance
- £50 cashback on Virgin Money Stocks & Shares ISA
Interest is paid monthly on this account and added to your account on the 27th of each month or the next business day if the 27th is not a business day.
This is a great account for people who travel often and more so if you often use Virgin holiday packages and trains. With some interest paid and the potential savings from rewards, as long as you do not need an overdraft facility.
