Questions and answers

As soon as your account is open and ready for your first deposit, we'll write to you with your account number and the sort codes you need to use to make deposits. You can also find these under 'Pay Money In' when you sign in to your account. As you're making an electronic transfer from your bank, you'll need to quote the following details:

Faster Payments / BACS (Bankers Automated Clearing Service)

• Sort code – 08-60-64
• Account number – your online account number

CHAPS Transfer (Clearing House Automated Payment System)

• Sort code – 08-02-65
• Account number – your online account number
• Reference – the business name

The Faster Payments Service aims to transfer money in near real time, but restrictions may apply.

BACS transfers should reach your account within three business days.

CHAPS transfers should reach your online account the same day (please note, your bank may charge for this service).

You can manage your transactions online but some changes need to be made by the business banking team at our Head Office.

If you want to make changes to the key account holders and/or signatories or change the nominated bank account, please complete this Account Amendment Form and return it to: Business Savings, Virgin Money, Jubilee House, Gosforth, Newcastle upon Tyne NE3 4PL.

This is the interest rate until the minimum deposit of £1 has been deposited and cleared. Once the minimum amount has been paid in, the rate shown on your Key Product Information Sheet and Summary Box will apply.

We'll email you before the fixed rate period ends to let you know the options available to you and the interest rate on the variable rate account.

As a Virgin Money Business customer, you get free access to our Lounges in London, Manchester, Sheffield, Norwich, Cardiff, Glasgow and Edinburgh.

Enjoy complimentary refreshments, free Wi-Fi, newspapers, magazines, TVs and iPads. Work away from the office, host a catch up with a client or just relax for a bit.

All signatories to your business account have free access and can bring guests. Just register online when your account is up and running. Find your nearest Lounge.