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Those who take us up (and meet the qualifying criteria below) on the Brighter Money Bundles M Plus Account switching offer will have a £50 donation made on their behalf to a charity of their choice registered on Virgin Money Giving and will also receive a 12 bottle luxury case of wine worth £138 from Virgin Wines, plus the Virgin Money M Plus Account comes with a 2.02% AER variable interest rate on balances up to £1000. Take a look at the Virgin Money Giving charity list Link opens in a new window.

To mark the launch of Virgin Money’s latest Brighter Money Bundle M Plus Account switching offer, we spoke to Jo Barnett, Executive Director at Virgin Money Giving, to find out about the £50 donation to a Virgin Money Giving registered charity that’s available to new Virgin Money M Plus Account customers and why charities need donations so much at the moment.

“It’s been a tough nine months for UK charities. Fundraising events have been cancelled or delayed, charity shops have been closed and many charities providing cancer treatment, foodbanks and mental health support have seen increased demand for their services."

Jo Barnett, Executive Director at Virgin Money Giving

There have been some high points: we have been uplifted by inspirational fundraising efforts such as the heroism of Captain Sir Tom Moore, Gareth Malone’s ‘Lockdown Choir’, sponsored head shaves on social media, new virtual marathons, half marathons and quizzes, support for Marcus Rashford and over 1m people running 5km as part of the Run for Heroes campaign. Despite this mammoth effort, however, the funding challenge for our charities remains acute.

Many charities – including some of our largest and most well-known – have lost significant sums this year, with the UK charity sector estimating that Covid-19 will reduce their income for the year by 24% Link opens in a new window. Overall, it is estimated that the impact on charity income over the year will be a staggering £10-£12bn shortfall Link opens in a new window, which will inevitably impact the services that can be delivered and the progress made in areas such as medical research.

In December, Cancer Research UK announced a further £45m cut Link opens in a new window in its research budget, which means 328 fewer researchers working on cancer projects. Macmillan, a national cancer care charity that relies on donations for 98% of its income, ‘is facing the hardest year in its 109-year existence’, as it juggles the delivery of its critical support for people with cancer and an estimated shortfall of a third of its annual fundraising income and the British Heart Foundation is just one of our medical research charities that was expected to lose 38% of its income last year and 25% in 2021 Link opens in a new window.

The impact of Covid-19 is huge for all of us but none less so than for our vital charity sector, which is why the public are adopting more and more creative ways to raise money. Charities have really benefited from new ways to give, such as our partnership with Ziffit.com Link opens in a new window, where you can sell old books, DVDs and games in exchange for charity donations. It’s also why Virgin Money’s new switching offer that supports charity donations is so appropriate for the moment. Over the next few weeks, I hope we will give thousands of donations to the charities that are closest to our hearts. After the year they have had, I know the UK charity sector will be very grateful for these additional funds.”

How your £50 could help

Samaritans

£50 could keep Samaritans’ phone lines open for 5 minutes, providing crucial help to people in crisis.

Age UK

£50 could help to pay for regular befriending calls to some of the most vulnerable people in our communities.

Macmillan

£50 could help run Macmillan’s online community for over two hours, helping 22 people affected by cancer to connect with each other and gain much needed support.

St John Ambulance

£50 could provide more ambulance and first aid crews across the country.

Mind

£50 could help Mind campaign for better mental health services from the Government.

NSPCC

£50 could pay for a Childline supervisor for two hours, supporting their volunteer counsellors.

Fareshare

£50 could help Marcus Rashford’s food poverty charity, helping deliver enough food for 500 meals.

Shelter

£50 could pay for five urgent calls to its helpline, supporting those under immediate threat of homelessness.

And there are plenty of other exclusive rewards and perks coming very soon! So, what are you waiting for? Switch and become a Virgin Money customer with the Virgin Money M Plus Account. Click here to find out more about the Virgin Money M Plus Account.

Important stuff

18+, UK only, terms apply, may be withdrawn any time. To qualify, apply online & fully switch. Then register for app, pay £1k into linked savings & transfer or setup 2 direct debits within 31 days. Keep £1k & dds until rewards code received. We will donate £50 to a Virgin Money Giving registered charity of your choice. Excl. M & Club M accounts & existing Virgin Money, B, Clydesdale & Yorkshire Bank current account customers, incl. closures since 30/11/20. Subject to availability. M Plus Account 2.00% gross per annum variable on up to £1k, paid monthly. Linked M Plus Saver 0.50% AER (0.35% AER from 27/04/21) / Gross per annum variable, paid quarterly. AER (Annual Equivalent Rate) is variable and illustrates the rate if interest is paid and compounded once a year. Gross rate doesn’t take account of tax payable. Virgin Money is a trading name of Clydesdale Bank PLC.

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Jo Barnett Executive Director at Virgin Money Giving
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