Online savings accounts how to...
Basic information on how to operate your online account, including those which are no longer available to open.
Some of our online accounts are no longer available to open. We haven't forgotten
about you, but some of the information which was on the website is no longer
there. If you are wondering how your account works or it's a long time since you used your account, here is some helpful information to guide you on your way.
How to log on
The first thing you'll need is your Customer ID which we gave you when you signed up online. It is alphanumeric and seven characters long. If you can't remember it, check your Welcome Pack which you received via post when you opened the account.
Follow the link to customer sign on at the top of the page to log on to your account - if you have forgotten any information, just follow the links and we can get you up and running.
What you can do
Once you have logged on, you can:
- check your balance
- view / print / download your statement
- transfer money
- amend your nominated bank account
- amend your interest payment details
- send us a secure message using the let's talk facility to discuss your account
- change your address / phone number / email address
- change your password
It's all quite self explanatory, but if you find you are stuck, we also have an online help section once you've logged in.
How to add money
You can add money to your Virgin Money savings account by the following methods:
Send us a payment directly from your bank
If your Virgin Money account accepts deposits, you can add money up to your maximum balance just by sending us a payment from your bank. The most popular way to do this is using an electronic transfer called FPS (Faster Payments Service). You will need these details to do this:
Sort code : 08-60-64 Account number: your own number
You can also use these details to set up a regular payment called a Standing Order - your bank should be able to arrange this for you. It can help make sure you are regularly topping up your savings.
Send us a cheque
Make it payable to yourself and pop your account number on the back.
Send us a guaranteed payment
You can use a service called CHAPS which is often used for high value transactions or ones which must be received by a certain date. Because they are guaranteed to reach their destination by the end of a specific day, there is often a charge for this type of payment. Ask your bank to use our account details, and make your own account number the reference that goes with the payment.
Sort code: 08-02-65 Account number: 50048407 Reference: Your online account number
Send money from abroad
For CHAPS transfers from banks outside the UK, please use the following details:
Sort code: 08-00-51 Account number: 50048407 Reference: Your online account number and your name
BIC No. CPBKGB22 IBAN No. GB04CPBK08005150048407
How to withdraw
Withdraw to your nominated account by:
- Electronic transfer – If possible, we will make your payment by FPS meaning that we will debit your account the same day or any future date for which you authorised the payment. The payment should reach your nominated account within a few hours but no later than the end of the next business day
- CHAPS transfer - If we receive your authority and full instructions before 1pm on a business day, we will send the payment by CHAPS transfer the same day. The minimum you can withdraw by CHAPS is £250 up to the balance in your account. CHAPS transfers can only be processed by our Main Office. A charge will be made for a CHAPS transfer, please refer to charges for more information.
To keep you secure, on occasion we might need to verify your identity in order to carry out the instruction you give us. Keeping your contact details up to date will help avoid delay.
Interest and tax
Your interest rate can either be fixed or variable and interest paid either monthly or annually. For more details on your specific account, visit existing account information to check your interest rate and payment date.
Your interest is calculated daily and adjusted automatically as the balance in your account changes. For joint accounts, interest can be paid part net/part gross, so if you don't pay tax, you can still claim interest on your equal share.
To let us know you don't pay tax on your savings interest, complete a form R85 for each account you hold with us, and return it to us via your local Store or to our Main Office.
Where the balance falls below the minimum balance, interest will be earned at the prevailing basic rate, currently 0.10% gross p.a.
If we change the rate of interest on your account we will notify you personally via secure email. If we reduce your rate we will also ensure you are provided with at least two months notice of the reduction in rate or at least the equivalent notice period on your account if you hold a notice account with us. So keeping your email address up-to-date is important so we can contact you if we need to.
Help - I'm locked out
If your password has been entered incorrectly three times you will automatically be locked out of your account for security reasons.
If this happens, you will be asked three security questions and as long as you correctly answer them all, a one-time password will automatically be sent out to you. Don't make any further attempts to guess your password (even if you think you have remembered it) as we have reset it by sending your one-time password.
If you enter your password correctly, but answer one of the three security questions incorrectly, the system will order a new one-time password.
Frozen screen? System saying you are already logged in? We have a dedicated technical help section which also contains details of how to contact our technical help team if you are stuck.
If you have a complaint, you should telephone us or write to us as soon as possible so that we may investigate the circumstances. You can write to the Customer Relations Team, Virgin Money plc, Gosforth, Newcastle upon Tyne, NE3 4PL or email email@example.com.
If you can't resolve this satisfactorily, you have the right to refer your complaint to the Financial Ombudsman Service, which provides independent adjudication of complaints. A copy of our Internal Complaint Procedures is available.