We are working as hard as possible to help support our customers, colleagues and communities through these difficult times. Here is some information about the changes we have made to do this.


How we're supporting our personal customers

Current accounts

We have made available interest-free overdrafts of £500 to all customers who require financial assistance due to coronavirus for an initial three-month period.


We are offering our mortgage customers payment holidays for up to three months and no additional proof or documentation is needed. Residential and buy-to-let customers who may be worried about future payments can apply online through our Virgin Money, Clydesdale and Yorkshire Bank websites.

We have also passed both recent Bank of England base rate reductions to our tracker mortgages and Standard Variable Rates in full.

Credit cards

Credit card customers who are experiencing difficulties as a result of coronavirus can contact us and we have a range of options to support them, including payment holidays and credit limit increases.

Personal loans

We are offering our Personal loans customers payment holidays for up to three months. Any customers experiencing financial difficulties as a result of coronavirus can apply online through our Clydesdale and Yorkshire Bank websites.

We're here to help

Personal customers experiencing financial difficulties due to the current coronavirus situation, can use the links below to find information on how we can offer support.

How we're supporting our business customers

For business customers, we recognise that cashflow is likely to be disrupted in the current environment and we are committed to providing prompt and appropriate assistance to help support customers while they implement their contingency plans. We encourage any of our business customers to contact us as early as possible to discuss how we can help.

The assistance we can provide includes:

  • Relationship Managers can approve a three-month capital repayment holiday to business customers who have not previously been identified as being in or approaching financial difficulty, or other high-risk groups. This will help them to manage cashflows during the current emergency.
  • Relationship Managers now have authority to extend overdraft and loan facilities by up to six months without charge - this is double the current three month dispensation.

We are one of the accredited lenders participating in the Coronavirus Business Interruption Loan Scheme (CBILS) being delivered by the British Business Bank, to support the continued provision of finance to SMEs during the coronavirus outbreak. Our customers can find out more and apply through our Clydesdale and Yorkshire Bank websites.

This provides facilities of up to £5m for smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow. Our loans start at £10,000 and have a maximum term of five years and no arrangement fees. They will be interest free for the first 12 months and we have also taken the decision that no customer will need to make capital repayments during at least the first six months. There are no early repayment fees/charges and we will not take new personal guarantees for loans of any size.

If a business does not qualify for CBILS, other funding options will be considered.

We're here to help

Business customers experiencing financial difficulties due to the current coronavirus situation, can use the links below to find information on how we can offer support.

How we're supporting our colleagues

Our focus is on protecting the wellbeing of our colleagues while continuing to serve our customers.

All colleagues who are able to work from home are doing so and we have put social distancing measures in place for those critical workers who need to work from one of our offices or stores.

No colleagues have been furloughed and we have no plans to do so.

We recognise the support colleagues need varies depending on their role. So we have put in place a variety of measures including:

  • helping those with caring responsibilities
  • covering the cost of commuting for all colleagues who are travelling to one of our stores or offices

How we're supporting our communities

Supporting Mencap

Corporate Sustainability

Virgin Money supports Mencap’s urgent coronavirus appeal and extends charity partnership.

We have donated £50,000 in response to Mencap’s urgent coronavirus appeal. The donation will help the charity provide vital support to people with a learning disability during the coronavirus crisis. As our Charity of the Year, Mencap is also the official charity for the 2020 Virgin Money London Marathon. Over 120 Virgin Money colleagues will be running this year’s marathon for Mencap and Virgin Money has extended its partnership with Mencap until 4 October 2020, the new race date.

Our Colleagues Make a Difference

Corporate Sustainability

Colleagues donate an hour’s pay.

Our colleagues are eager to make a difference to essential charities at the moment, and we’re just as eager to help them do that in the easiest possible way. Colleagues can donate an hour of their May salary (as a net deduction) to one of these three fantastic causes:

  • NHS Charities Together
  • Mencap
  • The Virgin Money Foundation

Home schooling during coronavirus

Corporate Sustainability

We have adapted our successful Make £5 Grow schools programme to help parents and care providers who are now home schooling due to the coronavirus pandemic. Make £5 Grow gives young people the experience of starting a small business with a little bit of help from Virgin Money.

The programme provides an insight into how business works and helps to build skills for the future, such as team-working, problem solving, leadership, money management and creativity.

We have also began distributing activity packs to children through our community outreach charity partners such as Pallion Action Group

Remote volunteering launched

Corporate Sustainability

New volunteering options for colleagues to support communities while working from home – launched on Teams to use our remote collaboration technology

  • NHS Volunteer Responders
  • Macmillan donor care calling, telephone buddying and skills sharing
  • Equal Arts & Post Pals – virtual friendships to tackle loneliness
  • Fold it – solve puzzles to help scientific breakthroughs

Easter de-clutter campaign

Corporate Sustainability

Encouraging colleagues to clear out their cupboards over Easter to raise money for NHS charities together through the VMG World of Books partnership

We plan to match fund all money raised by colleagues taking part in this campaign.

Note, our Charity of the Year partner, Mencap, has also seen a decline in income and so we will also increase our match funding for colleagues who are raising money to run the (delayed) Virgin Money London Marathon – moving to 100% match funding from 1 April.

2.6 Challenge – calling all home heroes!

Virgin Money Giving

We need your help to save the UK's Charities. Join the nation and take on the 2.6 challenge by fundraising or donating to a charity now.

The 2.6 Challenge can be any activity you like – from running 2.6 miles to holding an online workout with 26 of your friends. Whatever your age or ability, you can take part. After all, we’re not looking for superheroes. We’re looking for Home Heroes. Find out more here.

NHS Charities Together Campaign

Virgin Money Giving

  • £81 million raised so far
  • £10 million of which was raised on Virgin Money Giving

Virgin Money Giving is the official charity partner of NHS Charities Together

They’re the official charity for #clapforourcarers, which has taken place twice now, and they’re also running an urgent appeal on their website to support NHS staff and volunteers. To date VMG has supported an ITV appeal, the launch of The Sun and Daily Mail campaign and the virtual Grand National. 14k people have supported the campaign through VMG to date.

In total, across all channels, NHS Charities Together aims to raise £100m. Funds raised will help:

  • Fund wellbeing packs/gifts for staff and volunteers on wards/departments
  • Cost of travel, parking, accommodation for NHS staff and volunteer expenses
  • Other items as requested by NHS Charities that enhance the wellbeing of NHS staff and volunteers caring for coronavirus patients.

World of Books partnership

Virgin Money Giving

Virgin Money Giving has partnered with World of Books Group, a Virgin Money customer and the biggest retailer of second hand books in the UK, to help fundraisers and charities raise even more money.

And it’s super easy to use. Donors simply enter the details of their unwanted books, games and DVDs and get a cash value back from Ziffit.com which they can then pass, via Virgin Money Giving, directly to their charity. And packages can even be collected direct from a donor’s home to make it easy for everyone to give.

All funds raised will go to their charity and if they’re a UK taxpayer, that donation can be boosted by an additional 25% in Gift Aid too. The donation can go directly to the charity or added to the fundraiser‘s total.

Fundraisers  send a link out from their page to ask friends and family to donate stuff and from Wednesday 8th all charities will have a direct donate button they can share to all their supporters.

Virtual fundraising hub

Virgin Money Giving

Practicing social distancing and staying at home as much as possible are necessary steps we must all take to prevent the spread of the virus and, with all mass and local fundraising events cancelled, we must get creative to think of new ways to support charities.

Fundraisers have really embraced the idea of virtual fundraising and have got creative . VMG is currently supporting shows broadcast from venues and donations made to access the event, multiple head shaves and pub quizzes. We have fundraisers running marathons in their gardens and climbing mountains up and down their stairs, we have live streaming of exercise classes and big giveaways through the site from social influences .

Technology is bringing people together in ways that would have been unimaginable a few years ago and VMG is at the heart of bringing them ideas, tools and inspiration through our virtual fundraising hub.

Extra support for charities

Virgin Money Giving

Supporting charities through this turbulent period is key to what we do – VMG’s own long-term success relies on a healthy, vibrant charity sector. We are supporting them through advice, inspiration and new ways to raise money

  • regular weekly communication telling them how to use our tools
  • providing them with new income opportunities such as World of Books (the latest technology release this week will provide them with the ability to share a ‘button’ on their digital channels for this to encourage their own fundraiser / donor bases to clear out their cupboards
  • servicing them through our Customer Service
  • providing them with new fundraising ideas
  • incentives to encourage people to support their chosen charity

Virgin Money Foundation signed Joint Funder Statement on coronavirus

Virgin Money Foundation

Charities are on the front line, supporting communities, caring for the sick, delivering food parcels. They rely on grant funding from a range of charitable foundation to do much of this work.

In light of this Virgin Money Foundation has joined forces with over 100 other grant makers to put out a joint statement of support for charities. The statement included the following pledges:

To be as adaptable as possible, altering grant agreements in light of many public facing activities having to pause and new ones needing to start

To support charities to be nimble and respond to need by Reducing pressure through re-profiling deadlines and reporting dates;

Offering Financial flexibility – so that our funding can be used to help cover sickness, purchase equipment, or deliver services differently

Being a listening ear to charities as they deal with soaring need.

Community Resilience Fund

Virgin Money Foundation

The Virgin Money Foundation has launched a brand new £500,000 fund to support charities to survive the financial shock caused by coronavirus and innovate to support their local community through the pandemic.

Grants will be made available to previous grant recipients and will be awarded during April and May.

Community Anchors Fund Glasgow

Virgin Money Foundation

The Virgin Money Foundation are adapting their planned grant fund in Glasgow so that it is focused upon community responses to coronavirus. The fund, currently under development with HFD Group Foundation will launch in May.

Through the fund £300,000 will be distributed to neighbourhood based organisations who are critical to the coronavirus response in their local community.

Supporting the Community blog

Virgin Money Foundation

Nancy Doyle-Hall, Executive Director of the Foundation, is writing a blog

The morning that the government instructed all non-key workers to work from home my phone rang. It was 10am and it was Karen from a project we fund in Sunderland. Speaking at speed she told me that they were delivering 100 food parcels that day and that they were phoning round all the young people they work with, to let them know that they still have someone to talk to and a (virtual) place to go to for support. “Everyone’s shutting down” she said, “but making sure young people still have trusted relationships they can access and that families - who suddenly have kids at home they need to feed - have food in their cupboards, are needs that don’t just go away.

"We will keep going” she said. “We need to do more, not less”.