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From today, Virgin Money’s new current account offer gives switchers to all three current accounts – the Virgin Money M Account, M Plus Account and Club M Account – a bonus interest rate of 10% gross/10.47% AER (fixed) on current account balances up to £1,000 for a whole year from 1st July 2024 to 30th June 2025. Eligibility criteria apply.

As of today, both the Virgin Money M Plus Account and Club M Account already offer an interest rate of 2.00% gross/2.02% AER (variable) on current account balances up to £1,000, with new customers switching to either one of these accounts rewarded with an additional 10% gross/10.47% AER (fixed) on balances up to £1,000 for a year, equating to 12% gross/12.68% AER cumulatively.

In addition to this, all three of Virgin Money’s current accounts automatically come with a linked savings account, offering 2.48% gross/2.50% AER (variable) interest on balances of up to £25,000. The linked savings account makes it easy for customers to manage their money and transfer savings to and from their current account, all within the Virgin Money mobile banking app. The current accounts also come with a whole host of other great features, including:

  • £0 fees when using the card to spend abroad
  • Cashback on everyday spending with Virgin Money Cashback
  • The Virgin Money mobile banking app, which is packed full of clever tools to help customers budget better, save cleverly with savings pots and track transactions with pre-set and custom tags
  • Access to exclusive rates and offers across a range of Virgin Money savings products, such as the 1 Year Fixed Rate Cash ISA Exclusive (for existing eligible Virgin Money current account holders) with a current interest rate of 5.05% (AER/Tax-free) and the Easy Access Cash ISA Exclusive with a current interest rate of 4.76% (AER/Tax-free) (for existing eligible Virgin Money current account holders)

Graeme Sands, head of personal banking at Virgin Money, said

To qualify, new customers must open a Virgin Money current account online or in store by 31 May. New customers need to fully switch their current account from another provider to one of Virgin Moneys three current account options along with two direct debits using the 'Current Account Switch Service' by 26 June 2024 to receive the bonus interest rate.

Full details about the eligibility criteria can be found on the Virgin Money website. More information on Virgin Money’s current account offering can be found here.

T&Cs apply. This offer is available to all new M, M Plus and Club M customers who apply online – via the website or via our Mobile Banking app – and complete a full switch using the Current Account Switching Service, including two direct debits set-up on the account. New customers need to be 16+ (new customers under the age of 18 need to open a current account in Store) and live in the UK. This offer excludes existing M, M Plus and Club M customers, or customers who have closed a Virgin Money account since 30 April 2024.