Packaged bank account
Join the Club M
A bank account with insurance benefits for a monthly fee of £12.50
Get startedThe £12.50 monthly fee is for maintaining the account.
The highlights
Worldwide1 family multi-trip travel insurance
Cover for you, your partnerAll adults insured must be under 75 years old and live at the same address and up to 4 dependantsEither in full-time education or living with the account holder under 18.
Worldwide family mobile and gadget insurance
Cover for mobile phones, cameras, tablets and more.
UK and Europe2 breakdown cover
Vehicle rescue day and night. You’ll get help whether you’re the driver or a passenger in the UK and cover in your own vehicle in Europe.
Rewarding rates
Grab 1.00% AER(1.00% gross p.a. variable). Interest paid monthly. interest on your current account balance up to £1,000. And 2.50% AER(2.48% gross p.a. variable). Interest paid quarterly. on your linked saver balance, up to £25,000. 2.00% AER(1.99% gross p.a. variable). Interest paid quarterly. on balances above £25,000.
Let’s get into the insurance
- Worldwide1 family multi-trip travel insurance
- Including winter sports, golf, weddings and 24-hour access to a doctor at home or abroad. And, a concierge service to make reservations and transfers.
- Worldwide family mobile and gadget insurance
- For loss, theft and accidental damage. Including cameras, laptops, tablets and more.
- UK and Europe2 breakdown cover
- This can get you back on the road if you break down at your home or at the roadside in the UK and Europe2.
Our cover is subject to certain conditions and exclusions. Before you apply, take a look at all the insurance benefits, to make sure this account is right for you. Please read our Club M Account Insurance Policy Wording (PDF, 1,320KB).
If you’re looking for travel insurance without all the benefits of the Club M Account then view our travel insurance page.
Explore insurance coverBrilliant basics
A bank account is nothing without the basics. You’ll get:
- an app to manage your money
- a debit card that works worldwide
- security features you can count on
- no feesWhen you’re abroad, some cash machines might charge a fee. when you use your card abroad or shop online in other currencies
- Apple Pay and Google Pay
- cashback when you spend with well-known brands (excludes M Power Account)
- an app to manage your money
- a debit card that works worldwide
- security features you can count on
- no feesWhen you’re abroad, some cash machines might charge a fee. when you use your card abroad or shop online in other currencies
- Apple Pay and Google Pay
- cashback when you spend with well-known brands (excludes M Power Account)
Good to know
Switch your current account
Switch your account to us in less than 7 days. It’s easy, we do all the work, and it's backed by the Current Account Switch Guarantee.
Protecting your money
Sleep easy with protection on deposits up to £85,000. Provided through the Financial Services Compensation Scheme (FSCS).
Looking for an overdraft?
If there are times you might need to borrow a bit of money, you could get an overdraft. Our calculator tool will show you how much an overdraft could cost. Available only with M Plus and Club M accounts.
Exclusive offers
Open an M, M Plus or Club M current account and get access to exclusive accounts and offers
Explore our exclusives
Questions about Club M Account
It’s a current account which has a monthly fee and comes with insurance benefits.
Our packaged bank account is called the Club M Account and offers:
- worldwide1 family multi-trip travel insurance
- worldwide family mobile and gadget insurance
- UK and Europe2 breakdown cover
Travel insurance provided by American International Group UK Limited (AIG).
Mobile and gadget insurance provided by Assurant General Insurance Limited.
Breakdown cover provided by Green Flag, underwritten by UK Insurance Limited.
Once you’ve decided the Club M Account is right for you, apply online using the ‘Ready to apply?’ section on this page. You’ll need to enter some personal info and then we’ll digitally verify your identity. You’ll need to take a ‘liveness’ selfie and a photo of some ID. Ideally this is a UK driving licence but we also accept a valid UK passport or a proof of address document. Find out more about how we verify your identity.
They’re convenient as you can have your insurance cover and bank account in one place.
Our packaged bank account is particularly good for families. You get:
- worldwide1 family multi-trip travel insurance
- worldwide family mobile and gadget insurance
- UK and Europe2 breakdown cover for the account holder
Interest explained
- AER stands for Annual Equivalent Rate, and illustrates what the interest rate would be if interest was paid and compounded once each year.
- APR stands for Annual Percentage Rate. If you have a credit card, the APR is the cost of using your card to borrow money over a 12 month period.
- Credit interest is calculated daily on the cleared credit balance in your account.
- Gross is the interest payable without taking account of any tax payable.
- p.a. stands for per annum, which means every year.
- The tax-free rate is the contractual rate of interest payable where interest is exempt from income tax.
You’re ready to apply for a Club M Account if:
- you're 18 or over and live in the UK
- you’re happy to pay the £12.50 monthly fee for the maintaining the account
- you've read all of the important information below.
What is the interest rate?
| Balance | Gross rate (%) | AER (%) |
|---|---|---|
| Balances up to and including £25,000 | 2.48 | 2.50 |
| Balances over £25,000 | 1.99 | 2.00 |
Interest is calculated on a daily basis and paid on the last working day of each calendar quarter.
Can Virgin Money change the interest rate?
Yes, if we decrease your rate we’ll provide at least two months’ notice as described in your Terms. We may increase your rate without giving you notice
What would the estimated balance be after 12 months based on:
| Initial deposit at account opening | Balance after 12 months |
|---|---|
| £1,000 | £1,025.04 |
| £25,000 | £25,624.64 |
| £50,000 | £51,125.87 |
This is only an example and doesn't take into account your individual circumstances.
The example assumes that:
- no further deposits or withdrawals are made;
- any interest earned stays in the account; and
- there is no change to the interest rate.
How do I open and manage my account?
You may only open a Club M Saver if you have a Club M Account with us in the same name(s).
The Club M Saver will stay open, as long as the Club M Account is maintained as described in the Terms.
The Club M Account can be opened online, virginmoney.com/current-accounts/club-m-account, or call us on 0800 678 3654. If you already have the Club M Account but do not have the Club M Saver, then this can be opened online, virginmoney.com/club-m-saver, or call us on 0800 678 3654
There are no minimum or maximum balance restrictions and no need to pay in on a regular basis. The Club M Account is available for anyone from the age of 18. Subject to status.
Can I withdraw money?
You may only withdraw funds by transfer to your Club M Account or any other account that we allow you to make a transfer into using online/telephone banking, the Virgin Money Mobile Banking app or in Branch.
Additional Information
1 AER (Annual Equivalent Rate). The Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.
2 Interest will be paid gross. Gross rate interest is the interest payable without taking account of any tax payable.
Product information and policy wording documents
The cover provided is subject to certain conditions, exclusions and policy limits. Some pre-existing medical conditions are covered and some may be covered by paying an additional premium. It is important you read the full details before applying.
Check the eligibility criteria to make sure the account is right for you.
- Insurance Product Information Document Link opens in a new window
- Club M Account Insurance Policy Wording Link opens in a new window
Worldwide Family Multi-Trip Travel Insurance
Insurance provider: American International Group UK Limited (AIG).
Worldwide cover (except travel in, to or through Cuba, Iran, Syria, North Korea, the Crimea region, or the Donetsk People’s Republic (DNR) or Luhansk People’s Republic (LNR) regions of Ukraine, or anywhere the Foreign, Commonwealth & Development Office advises against ‘all’ or ‘all but essential’ travel).
Travel Insurance Directory
If AIG can't cover you, you may be able to get cover elsewhere. Moneyhelper has a directory of travel insurance firms who can help you find travel insurance to cover your needs. For example, this might include cover for customers aged 75 or over or how you can get cover for a condition that may be currently excluded on your policy or where you are paying an additional premium to cover your medical condition(s).
If you would like further information, please visit MoneyHelper or call 0800 138 7777
Breakdown Cover
Insurance provider: Green Flag, underwritten by U K Insurance Limited
Mobile phone and Gadget Insurance
Insurance provider: Assurant General Insurance Limited.
Our other current accounts
Everyday bank account
M Plus Account
No monthly fee for maintaining the account
Everything you'd expect from a current account, plus:
- Exclusive access to other accounts, offers, cashback and more.
- A linked saver account with 2.50% AER (2.48% gross p.a. variable) on balances up to £25,000. 2.00% AER (1.99% gross) on balances above £25,000. Interest paid quarterly.
- 1.00% AER (1.00% gross p.a. variable) on your current account balance up to £1,000. Interest paid monthly.
Basic bank account
M Account
No monthly fee for maintaining the account
Great if you have little, poor, or no credit history
- It's the same as our M Plus Account, but you won't get interest paid on your current account balance. We also won't be able to offer you an overdraft or a cheque book.
- Open this account with non-standard ID.
- You can only apply by phone or in Branch.
Child account for 11 to 15s
M Power Account
No monthly fee for maintaining the account
A proper bank account for young savers and spenders
- Your child gets their own debit card and app.
- Peace of mind as you can see when, where and how much they’re spending.
- As a parent or guardian, you’ll need an eligible current account to apply. You’ll also need to use our Virgin Money Mobile Banking app.
1. Worldwide cover (except travel in, to, or through Cuba, Iran, Syria, North Korea, the Crimea region, or the Donetsk People's Republic (DNR) or Luhansk People's Republic (LNR) regions of Ukraine, or anywhere the Foreign, Commonwealth & Development Office advises against 'all' or 'all but essential' travel).
2. Europe includes Andorra, Austria, Balearics, Belgium, Bulgaria, Canary Isles, Channel Islands, Corsica, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Republic of Ireland, Romania, San Marino, Sardinia, Sicily, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey in Europe, Üsküdar.
Apple Pay is a trademark of Apple Inc., registered in the U.S. and other countries.
Google and Google Pay are trademarks of Google LLC.