Business Online 120 Day 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’ll 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 Business Online 120 Day Notice Account if:
  • You are a Limited Company, Partnership, Limited Liability Partnership or a Sole Trader. If you're a University, College, Club, Society or a Registered or exempt Charity then you can apply for a Charity Online Notice Account.
  • 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.

Depositing money:

• There is no maximum deposit limit on this account.
• You can add to your account at any time by sending a Bacs, CHAPS or Faster Payment from another UK account.

• Any corporate administrators can access your Business Online 120 Day Notice Account and give notice through the Virgin Money Mobile Banking app or Business Internet Banking. Withdrawals need to be transferred to another account in the name of your business.
• Minimum withdrawal amount £1 (or less if closing).
• Withdrawals without notice are not permitted.

• 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.

• A limited company, partnership, limited liability partnership or sole trader
• Based and operated in the UK (excluding Channel islands, Isle of Man & Northern Ireland)
• Have owners, directors, senior management and account signatories over 18 years old

• You operate in or trade with Crimea (Ukrainian territory), Iran, North Korea or Syria
• You have bearer shares within the ownership structure
• You’re a shell bank
• You undertake money services business as a primary or secondary business activity (for example, a bureau de change, money transmitters and cheque encashment agencies)
• You’re a medicinal cannabis related business
• You’re an unregistered high value dealer
• You have nominee shareholders within the business structure
• You are digital currency issuers