Is this account right for you?
- You can’t change your notice period, so when choosing which account you’d like, it’s important to be sure on how quickly you might need to access your money.
- Withdrawals without notice aren’t allowed.
- Withdrawals transferred to an external account will normally take 2 additional working day but if you have our Business Current Account, the money will be with you right away.
Please read this information before applying for this account
Account name: 120 Day Business Notice Account
|% Gross2||% AER1|
Interest is paid on the last business day of the month.
Rates are variable. This means we may increase or decrease interest rates at any time. When we decrease interest rates we will give you at least two months' notice before the rate reduces. Please refer to condition 13 within the Business Current and Savings Accounts terms and conditions for details.
|Account name||Projected balance|
|120 Day Business Notice Account||£1011.50|
This projection is provided for illustrative purposes only and does not take into account your particular circumstances. This is based on no withdrawals or further deposits being made and interest being added to the account.
Opening your account:
- You can apply for a 120 Day Business Notice Account if:
- You are a Limited Company, Partnership, Limited Liability Partnership and Sole Trader, University, College, Club, Society or a Registered or exempt Charity;
- The business is based and operates in the UK (excluding Channel Islands, Isle of Man & Northern Ireland);
- All owners, directors, senior management and account signatories are over 18 years old.
- You can apply for an account by visiting virginmoney.com/business and following the instructions.
- Minimum deposit to open is £1.
- Minimum additional deposit £1.
- Minimum operating balance £1.
- There is no maximum deposit limit on this account.
- You can add to your account at any time by:
- Arranging an electronic transfer (BACS, CHAPS, Faster Payment Service) from your Business Current Account.
- Paying in cheques in a Virgin Money Store.
- Your account signatories can access your 120 Day Business Notice Account and can withdraw funds, subject to the correct period of notice being given, in the following ways:
- Arranging an electronic transfer (BACS, CHAPS, Faster Payment Service) to your Business Current Account.
- Minimum withdrawal amount £1 (or less if closing).
- Withdrawals without notice are not permitted.
- This account is a payment account.
- We pay interest without deducting income tax, unless HMRC/the law requires otherwise. We do not issue Certificates of interest paid and tax deducted automatically. However, once you have requested and received a Certificate of interest paid and tax deducted we will provide further certificates in April each subsequent year that the account remains open and, for closed accounts, in the tax year the account is closed.
- Please note, the tax treatment depends on the particular circumstances of each business and may change in the future.
Save with confidence
Your deposits with Virgin Money are covered up to £85,000 per business.View the FSCS guarantee
Got a question?
See the answers to the questions we get asked the mostFrequently asked questions Link opens in a new window
Not quite what you're looking for?
If you’re looking for a business savings account, but this account doesn’t seem the right fit for you, we have a range of accounts that might suit you better.View all savings accounts
 AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added to the capital balance each year.
 Gross P.A. is the rate of interest paid without the deduction of tax.
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