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Virgin Money’s latest current account offer gives switchers to the Virgin Money M Plus Account and Virgin Money Club M Account 20,000 Virgin Points to spend with Virgin Red

Switchers will also benefit from 2.02% AER on balances up to £1,000, plus 1% AER variable on their linked savings account on balances up to £25,000 and 0.50% AER variable on balances over £25,000.

Virgin Red is Virgin’s Group-wide rewards club that turns everyday spending into points that unlock far more rewards, with hundreds of options to choose from.

The Virgin Points boost means travellers could get a return flight to Barbados, the Bahamas or St Lucia, while Greggs enthusiasts could turn their points into 100 sausage or vegan sausage rolls61 coffees or teas or 100 doughnuts or muffins.

Music lovers could snap up a Virgin Crosley record player or Sofar Sounds tickets, or the points can be used to pay for VUE cinema tickets, Virgin Wines, three course meals or even an Astronaut Experience for two at Space Store.

Hugh Chater, Chief Commercial Officer at Virgin Money says: “We’re really excited to be partnering with Virgin Red on our newest switching offer. With a 20,000 Virgin Points bonus, as well as a great 1% interest rate on the linked savings account, there really is something for everyone. The only real challenge new customers will have is deciding how to spend their 20,000 Virgin Points. To top it off, all Virgin Money customers can also sign up to our Virgin Money Cashback programme to start earning cashback on everyday spending on their Virgin Money debit card.”

Andrea Burchett, International and Strategic Development Director at Virgin Red says: “We are delighted to partner with Virgin Money to offer members the opportunity to earn an incredible 20,000 Virgin Points when switching their current account. With more than 200 rewards, members won’t be short of options to spend their points on – whether it’s the smaller things that make the everyday better like a sausage roll, hot drink or cinema ticket or a bigger experience like enjoying a concert from the Virgin Red Room or a trip to Barbados – the possibilities are endless!”

Virgin Red members are rewarded for their everyday spending, whether that’s doing their online shopping with some of the UK’s biggest retailers like John Lewis and Partners, Marks & Spencer or Boots, booking train travel with Virgin Trains Ticketing or hotel stays with, or simply using their Virgin Atlantic Credit Card, they’ll soon see the points add up. And with everything from the biggest brands in retail, travel and entertainment to smaller treats or exciting new start-ups, there are so many different rewards, appealing to all kinds of different people. Members can even use Virgin Points for good by supporting a number of different charities or helping develop technology to remove carbon from the atmosphere.

Customers switching to the Virgin Money M Plus Account which is rated ‘Outstanding’ by Moneyfacts, as well as the Virgin Money Club M Account will benefit from credit interest of 2.02% AER (variable) on current account balances up to £1,000. The 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% AER variable on balances up to £25,000, savings pots, budgeting tools and transaction tagging as well as spending and balance alerts.

Virgin Money Current Account customers also benefit from cashback on debit card spending on everyday shopping online and/or instore. Participating UK retailers include River Island, Anthropologie, L’Occitane, WH Smith, Q-Park and LNER. Customers can transfer cashback to their Virgin Money current account or trade up for e-Gift cards to use online or instore at select retailers, including John Lewis, Cineworld and Marks & Spencer.

Further information on Virgin Money Cashback