30 Day Business Notice Account

Interest is paid on the last business day of the month.

Your account uses a rate that tracks the Bank of England base rate. When the base rate changes, we’ll change the account rate by the end of the next working day.

If we’re planning to change the margin between your account rate and the Bank of England base rate, we will let you know at least two months in advance or more if your notice period is longer.

For example, if you've got a 95-day Notice Account, we'll give you at least 95 days' notice. You’ll find more details in the Business and Corporate Notice Account terms and conditions.

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 30 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.

Depositing money:

• 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 30 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.