20,000 reasons to switch
Earn 20,000 Virgin Points when you switch to our Club M Account, and meet the qualifying terms.Find out more
If it's the full package you're after, then look no further
Club M Account
Feast on a 2.02% AER1 (2.00% gross1 per annum variable) interest rate, paid monthly, on your Club M Account balance up to £1,000.
Linked to the Club M Saver
Any money you move into your linked Club M Saver account will earn 1.71% AER1 (1.70% gross1 per annum variable) on savings balances up to £25,000, and 1.00% on any balances above £25,000. Interest paid quarterly.
There is a £14.50 monthly fee for Maintaining the Club M Account insurance benefits.
Club M comes bursting with benefits
Our Club M Account is a step up from our award-winning M Plus Account - rated "Outstanding" by Moneyfacts® 2020/21. You'll get all the features and rewards from our M Plus Account, plus a rich package of insurance benefits.
- Take control with our Virgin Money App and Online Service - packed full of clever tools that help you track, budget, save and pay.
- No fees when you travel - we won't charge you for spending on your card or withdrawing cash when you're abroad.
- Over 32 million places worldwide welcome your contactless debit card, and it comes ready for Apple Pay and Google Pay.
- An Arranged Overdraft for when you need a little extra - subject to status. Use our Overdraft Calculator Link opens in a new window to see the cost.
Three types of insurance, cover for the things you love
- Worldwide family multi-trip travel insurance - including winter sports, golf and weddings. Plus, 24 hour access to a doctor at home or abroad. And, a concierge service to make reservations, transfers or just ask a question.
- Worldwide family mobile & gadget insurance for loss, theft and accidental damage - including cameras, laptops, tablets and more.
- UK breakdown cover - vehicle rescue day and night, you’ll get help whether you’re the driver or a passenger.
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 Link opens in a new window.
Just remember, if you’re looking for travel insurance without all the benefits of the Club M account then view our travel insurance page.
You're ready to apply if:
- You're 18 or over and live in the UK
- 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||1.70||1.71|
|Balances over £25,000||1.00||1.00|
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|
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 internet/telephone banking, the Virgin Money Mobile Banking app or in Store.
Interest will be paid gross.
Gross rate interest is the interest payable without taking account of any tax payable.
AER (Annual Equivalent Rate). The Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.
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.
Worldwide Family Multi-Trip Travel Insurance
Insurance provider: American International Group UK Limited (AIG).
(Excludes travel in, through or to Cuba, Iran, Syria, Sudan, North Korea or the Crimea region)
Medical Cover Directory
If AIG are unable to provide cover for your medical conditions, MoneyHelper has introduced a directory of travel insurance firms which can help consumers with existing medical conditions access travel insurance that covers their conditions. For example, this might include how you can get cover for a conditions that may be currently excluded on your policy or where you are paying an additional premium to cover your medical conditions(s).
If you would like further information, please visit MoneyHelper or call 0800 138 7777
UK Breakdown Cover
Insurance provider: Green Flag.
Mobile phone and Gadget Insurance
Insurance provider: Assurant General Insurance Limited.
What is an Arranged Overdraft?
This is a borrowing limit on your account that we agree with you in advance, so it's there when you need it. You'll pay Arranged Overdraft interest on the amount you choose to use.
What is an Unarranged Overdraft?
This is where you borrow from us when there is no money left in your account (or when you have gone past your Arranged Overdraft limit) and this has not been agreed with us in advance. You will pay Unarranged Overdraft interest.
If you don't have enough money in your account to cover a payment, we may charge a Refusing A Payment Due To Lack Of Funds Fee. You should aim to repay your overdraft borrowing as quickly as possible and use it responsibly as your usage will be reflected in your credit file.
Will you get an arranged overdraft?
Use our eligibility calculator and find out. It won’t leave a mark on your credit file.
Who can take up this offer?
- New M Plus Account and Club M Account customers who:
- are 18+;
- are resident in the UK;
- don’t already have an M, M Plus or Club M current account, and haven’t closed one recently (since 31 January 2022); and
- haven’t previously taken up a Brighter Money Bundle or Virgin Red Points offer for switching to Virgin Money.
How do you take up this offer?
- Apply online for our M Plus or Club M Account.
- You won’t be able to take up this offer if we need to decline your application. This could happen for example, if you aren’t eligible due to your financial circumstances. This includes where we offer you the M Account instead of the M Plus or Club M Account.
- Once your new current account is open, you must complete the following steps within 45 days of your account opening date.
- Fully switch your existing current account to us using the 'Current Account Switch Service', with at least two direct debits.
- A full switch means that all your regular outgoing payments from your existing current account will be transferred to your new current account and your existing account will be closed on the date you select to switch. Note, this doesn't include any recurring payments set up on your old debit card, such as film and music streaming subscriptions.
- As part of the switch any direct debits will be transferred to your new account for you. If you don’t have two direct debits you can set these up as soon as your account is open.
- If you are switching from a joint account, you’ll need to make sure both account holders agree to a full switch.
- You can find out more about the 'Current Account Switch Service' process here.
- Download and login to the Virgin Money Mobile Banking app. You can do this as soon as your account is open.
- Both our M Plus and Club M Accounts come with a linked savings account. You must pay in at least £1,000 into your linked M Plus Saver or Club M Saver, and keep this in your account until we send you your Virgin Red promo code.
- Fully switch your existing current account to us using the 'Current Account Switch Service', with at least two direct debits.
What is the offer?
- Virgin Red is a rewards club that turns your everyday spending into Virgin Points.
- If you meet the offer conditions, we will e-mail you a Virgin Red promo code to get 20,000 Virgin Points on us. If you haven’t already, you’ll need to join Virgin Red to get the points. It’s quick and easy to sign-up and the best bit, it’s totally free. Head here to join Virgin Red now. Link opens in a new window
- Virgin Points can be spent on a wide range of exciting rewards ranging from Everyday Treats to Extraordinary Experiences and everything in between. Log in to the Virgin Red app or look at the Virgin Red website and discover all the different options.
- We’ll send you an e-mail with your promo code within 14 days of you meeting the offer conditions. We’ll send your promo code to the e-mail you gave during your account application. The e-mail will provide instructions on how to sign-up (if you aren’t already a Virgin Red member) and redeem the promo code within the Virgin Red app or website.
- Your Virgin Red promo code can be used until 30 April 2023. Make sure to redeem your promo code before then.
- After you’ve redeemed your Virgin Red promo code, the points are added to your Virgin Red account. There is no specific expiry date for using the points. You’ll be free to use them in line with Virgin Red’s programme terms. Link opens in a new window
- We thought we should highlight a few key things from Virgin Red’s programme terms:
- the points don’t have a cash value and they can’t be swapped for cash or transferred to anyone else (except as set out in the Virgin Red terms).
- The number of Virgin Points you can earn or the number of Virgin Points you need to spend to obtain a reward may change at any time.
- Although we’ll be working closely with our friends at Virgin Red on this promotion, we aren't responsible for their terms, their marketing, or any of the offers available through Virgin Red. Just contact Virgin Red if you have any questions about these topics.
When can you take up the offer?
- The offer will be available on an ongoing basis until we withdraw it. We can withdraw the offer without giving you any advance notice, but we’ll try to give some notice if we can.
- You don’t need to worry if we withdraw the offer when you’re part way through meeting the offer conditions. As long as you’d submitted your account application before we withdraw the offer, you can still qualify. You’ll just need to continue to meet the rest of the conditions.
What else do you need to know?
- You can only benefit from this offer once. If you are a joint account holder, you can only take part once between you and your joint account holder.
- Applications for the M Plus Account and Club M Account are subject to status and eligibility criteria.
- We’ll use your personal information 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 something we can’t control, or it’s not our fault, then we may have to change the offer. This includes suspending the offer or ending it early. We can make such changes without giving you notice. However, we’ll try our best to avoid making changes. And we’ll try to minimise any disappointment to you when we make changes.
Who is the promoter?
- We are Clydesdale Bank PLC trading as Virgin Money.
- Our company number is SC001111.
- Our registered office is 30 St Vincent Place, Glasgow, G1 2HL.
Take control of your money
With the Virgin Money App and Online Service.
- Sign in securely
- Use your face or fingerprint. Or prefer a postcode? That's fine.
- Master your money
- View transactions and sort your spending by category.
- Save savvily
- Set aside money for those must haves, with Savings Pots.
Currently you can only manage your account with us face to face in a few of our stores. Learn more Link opens in a new window.
Spend all over
Over 32 million places worldwide welcome your card - just look for the Mastercard® logo. You can also use it to withdraw cash (subject to account balance).
Your card comes ready for Apple Pay and Google Pay, making it even easier to pay for things.Pay with apple Link opens in a new window Pay with google Link opens in a new window
Protecting your money
- We're all over your online transactions to make sure it's really you making them.
More about security
- FSCS guarantee
- Your eligible deposits with Virgin Money are covered up to £85,000 per person.
View the FSCS guarantee
- Current Account Switch Guarantee
- It's easy to use our switching service, and it's all backed by the Current Account Switch Guarantee.
More on switching
- HooYu ID checks
- Identification checks are completely safe and secure thanks to our trusted ID verification partner HooYu.
More on Hooyu