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 think about how quickly you might need to access funds.
- Withdrawals without notice aren’t allowed.
- Withdrawals transferred to an external account will normally take 2 additional working day but if you have a Charity Current Account, the money will be with you right away.
Please read this information before applying for this account
Account name: 120 Day Charity 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 3.8.3 within the Business Notice Accounts terms and conditions for details.
|Account name||Projected balance|
|120 Day Charity Notice Account||£1045.50|
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 Charity Notice Account if:
- You are either a Registered or exempt Charity;
- Your charity is based and operates in the UK (excluding Channel Islands, Isle of Man & Northern Ireland);
- All trustees and committee members 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 £100,000.
- 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 charity current account.
- Paying in cheques in a Virgin Money Store.
- Your account signatories can access your 120 Day Charity 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 charity 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.
- 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 charity.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 charity 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 charity 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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