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Virgin Money has teamed up with Youtility Link opens in a new window, a subscription management platform built for banks and FinTechs, to help customers save money on their bills as they continue to face the cost-of-living crisis.

Youtility helps consumers control, manage and save on their broadband, TV and mobile contracts. Virgin Money customers are now able to access the platform from the comfort of their own phone, via the ‘Discover’ tab on the homepage of Virgin Money’s mobile banking app Link opens in a new window. The Youtility platform does all the hard work, providing personalised and impartial options depending on what a customer wants from their providers.

Across the UK, millions of households who haven’t switched contracts or changed providers for essential services are being penalised for their loyalty. In fact, Youtility believes the average loyalty penalty for a UK home is £987 Link opens in a new window a year. Virgin Money customers could save hundreds of pounds simply by using the platform to switch to new suppliers.

Hugh Chater, chief commercial officer at Virgin Money, said: “Our purpose is making you happier about money, and we’re passionate about making our customers’ money work harder for them. That’s why we’ve teamed up with Youtility to help our customers make informed decisions that could mean significant savings at a time when they need it most.

“By linking Youtility seamlessly to the Virgin Money mobile banking app, we’re also taking away the hassle people often feel when it comes to managing their utility bills – it really couldn’t be easier to see if you can make big savings.”

Further information about Virgin Money’s mobile banking app is available here: Virgin Money's mobile banking app Link opens in a new window.