Switch bank accounts

It’s for new M Account, M Plus Account, and Club M Account customers, who:

• Are 16+ (if you're under 18, you need to open your account in Store).
• Live in the UK.
• Don’t already have an M, M Plus or Club M current account. If you’ve closed one since 30 April 2024, this offer’s not for you.

Simply open an M, M Plus or Club M Account, online, or in Store. Even if we offer you our M Account instead of our M Plus or Club M Account, you’ll still be eligible – but if we say no to your application, you won’t be able to have this offer.

Once we’ve opened your new current account, you must do these things by 26 June 2024:

1. Fully switch an existing current account from another provider (this includes a Virgin Money Current Account (opened with Northern Rock), and the Virgin Money Essential Current Account), using the Current Account Switch Service,
   A full switch means that your balance, and all your regular outgoing payments from your existing current account, will be transferred to your new current account. These don't include any regular payments set up on your old debit card, such as movie and music streaming subscriptions. Your existing account will be closed on the date you choose to switch.
2. Transfer at least two direct debits to your new account as part of the switch.
3. Make sure both account holders agree to a full switch if you’re switching from a joint account.

It’s a bonus credit fixed interest rate of 10% gross paid on your current account balance of up to £1,000 from 1 July 2024 to 30 June 2025. To find out more, read on and we’ll tell you how your bonus works.

• As soon as we open your M Plus or Club M current account, you’ll start earning 2.02% AER variable (2.00% gross per annum variable) on balances of up to £1,000. We’ll pay it monthly.
• If you meet the offer conditions on your M Plus or Club M current account, you’ll also earn a bonus fixed interest rate of 10% gross, on your current account balance up to £1,000 from 1 July 2024 until 30 June 2025.
• So you know, we don’t pay interest on the M Account, but we do pay it on the M savings account it’s linked to. However, if you meet the offer conditions on your M Account, we’ll pay you a bonus credit interest rate of 10% gross on your M Account balance up to £1,000, from 1 July 2024 until 30 June 2025.
• We’ll work out how much interest to pay you at the end of each day, based on the money in your account. If your balance is £1,000 or less, we’ll pay interest on the whole balance. If it’s higher, we’ll pay interest on the first £1,000.
• We’ll add interest to your M, M Plus or Club M Account on the last working day of each month. We can’t pay interest into another Virgin Money account, or one with another bank.
• To make sure you receive your interest, you must keep your M, M Plus or Club M Account open.

We can withdraw this offer at any time, without giving you any notice, but we’d try to give some if we can.

If we withdraw the offer and you’re already part way through applying for the account, you won’t need to worry. As long as you sent us your account application before we withdrew the offer, you’ll just need to make sure you complete all the necessary account opening steps by 26 June 2024 (see How can you get this offer? above for exactly what you’ll need to do).

• You can only get this offer once, whether it’s just you who’s the account holder, or you hold it jointly with someone else.
• Applications for the M, M Plus Account and Club M Account are subject to status and eligibility criteria.
• We’ll use your personal details to help us run the offer.
• English law applies to the offer.
• If something goes wrong, we’ll try to fix it. If we can’t, because it’s beyond our control, or not our fault, then we may have to change the offer, such as by suspending it, or ending it early – but we have to give you notice first. We’ll always try our best to avoid making changes, and to minimise any disappointment to you when we have to.

We are:

Clydesdale Bank PLC trading as Virgin Money.

Our company number is SC001111.

Our registered office is 177 Bothwell Street, Glasgow G2 7ER.