- Virgin Money’s current account switch incentive enables new customers to earn 25% cashback on UK supermarket and fuel spend
- Customers can earn 25% cashback for 60 days up to a maximum of £160
- Switchers also benefit from 2.02% AER variable on balances up to £1,000, as well as 1.71% AER variable on their linked savings account balance up to £25,000
Virgin Money’s latest current account offer gives switchers to the Virgin Money M Plus Account and Virgin Money Club M Account the opportunity to earn cashback on their UK supermarket and fuel spend with Virgin Money Cashback.
Cashback can be earned by spending at any UK supermarket, including Asda, Marks & Spencer, Morrisons, Sainsbury’s, ALDI, LIDL, Tesco, Iceland, The Co-operative and Waitrose, as well as any UK petrol station.
Switchers will also benefit from 2.02% AER variable on balances up to £1,000, plus 1.71% AER variable on their linked savings account on balances up to £25,000 and 1.00% AER variable on balances over £25,000.
To qualify, new, eligible customers need to apply for the Virgin Money M Plus Account or the Virgin Money Club M Account either online or via the Virgin Money mobile banking app, use the ‘Current Account Switch Service’ to complete a full switch including at least two Direct Debits, sign up to Virgin Money Cashback in the Virgin Money mobile banking app and pay at least £1,000 into the linked saver account within 45 days of opening their new account.
Hugh Chater, Chief Commercial Officer at Virgin Money says: “Our latest switching offer enables customers to earn cashback on their everyday supermarket and fuel spending at a time when the cost-of-living crisis continues to challenge people’s spending and saving habits. We’re pleased we can give our customers value when it matters most, helping to make them feel happier about money.”
New customers will receive an email confirming they are eligible to start earning cashback on UK supermarket and fuel spend and will have 60 days from the date of the confirmation email to earn 25% cashback up to a maximum of £160. An offer tile will also appear in the cashback section of the Virgin Money mobile banking app when the offer becomes available, and customers will be able to keep track of how long they have left to earn cashback due to a countdown timer. Any cashback earned will be paid into the customer’s cashback account within 35 days of each qualifying spend.
The Virgin Money M Plus and Club M accounts come with a travel-savvy debit card with no overseas spending or withdrawal fees, full digital servicing, mobile cheque deposits, a linked savings account with 1.71% AER variable on balances up to £25,000, savings pots, budgeting tools and transaction tagging as well as spending and balance alerts.
Further information on Virgin Money Cashback is available at https://uk.virginmoney.com/service/rewards/virgin-money-cashback/