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Account fees

ServiceFee
Monthly Fee for Maintaining The AccountNone
Cash withdrawal in pounds in the UKFree* 
Maximum £500 per day (subject to account balance)Whilst we won't charge you, some ATM providers may apply a charge. You'll be notified of this before you go ahead with the withdrawal.
Cash withdrawal in foreign currency outside the UKNone
Debit card payment in a foreign currencyNone
CHAPS outward payment£25.00
Refusing A Payment Due To Lack Of Funds Fee
You'll be charged this fee when we refuse a payment due to a lack of funds in your account (or Arranged Overdraft). But you'll not be charged this fee if the value of the refused payment is £4.00 or less. This is the Refusing A Payment Due To Lack Of Funds Fee Buffer Amount.
£4.00 (Buffer £4.00)
Monthly Maximum Charge
The Monthly Maximum Charge (MMC) is a monthly cap on Unarranged Overdraft interest and Refusing A Payment Due To Lack Of Funds Fees. The MMC is the most you’d pay each month in such interest and fees combined.

1. Each current account will set a monthly maximum charge for:
(a) going overdrawn when you do not have an Arranged Overdraft; or
(b) going over your Arranged Overdraft limit (if you have one).

2. This cap covers any:
(a) interest for going over your Arranged Overdraft limit; and
(b) fees for each time we Refuse A Payment Due To Lack Of Funds.
£40.00 per calendar month

The amount of the Refusing A Payment Due To Lack Of Funds Fee and debit interest will be notified to you at the end of each calendar month, giving you at least 14 days notice before it is applied to your account.

You'll find full details of our fees in the M Plus Account Fee Information Document.

The interest you earn on your current account

This is the rate of interest we'll pay on the money in your account.

BalanceGross rate2 (% per year)AER1 (%)
Balances up to and including £1,0002.002.02
Balances over £1,0000.000.00

We work out how much interest to pay you at the end of each day. This is 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 of your balance. We’ll add any interest to your account on the last working day of the month.

When we talk tax

The terms we use are based on current understanding of UK taxation. We're always reviewing our website to make sure that anything we say about tax is up to date.

  1. AER. The AER (or Annual Equivalent Rate) is the equivalent rate if interest was paid and compounded once a year.
  2. Gross rate. This is interest we pay without deducting income tax.

    We don't deduct tax from any interest we pay you. If your interest is over your Personal Savings Allowance, you'll have to pay any tax directly to HM Revenue and Customs. It'll depend on your circumstances and it might change in the future. For more information please visit, www.gov.uk2.

Overdraft interest rates

Overdraft ratesDebit interest rate
Arranged OverdraftAs personally advised
Unarranged OverdraftAs personally advised

We work out how much interest to charge you each day. The more you borrow, the more interest we will charge. We'll charge the interest the next month.

Debit card transactions and limits

Transaction TypeRetailer/ ATM locationCurrencyFees
Debit Card Cash withdrawalWithin the EEA (including UK)All currencies (including Pound Sterling)Fee not chargedWhere a foreign purchase transaction is refunded by a retailer, the purchase transaction amount will be credited back to the account based on the exchange rate on the day of refund. Any fee charged for the original transaction will not be refunded. For any Foreign Transaction reversals, any fee charged will be reversed.
Outside the EEAAll currencies (including Pound Sterling)Fee not charged
Debit Card PaymentsWithin the EEA (including UK)All currencies (including Pound Sterling)Fee not charged
Outside the EEAAll currencies (including Pound Sterling)Fee not charged

Countries within the EEA

Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czehc Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy,Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK

Debit card withdrawal limits

ServiceCashDebit card payments in a foreign currency
Debit Mastercard® Online Contactless£350£5,000
Debit Mastercard Online Non-Contactless£350£5,000
Debit Mastercard Contactless£500£10,000

The cash withdrawal limits in the table above apply whether you’re in the UK or abroad. You might be able to take out more cash in one of our Stores. If you aren’t sure which type of card you have, or have any questions about your limits, let us know. We can set other limits or change any limits on your account . You can always ask us what they are.

Charges for our most common additional services

ServiceCharge
Bankers draft (up to & including £100,000)£30.00 per draft
Cancelling A Cheque£10.00 per cheque
Duplicate Statement Fee (if you have opted out of receiving paper statements then no fee will be charged)£5.00 per statement

Collections department

If we need to involve our collections department you must pay us for all reasonable costs and expenses which we incur as a result. These could include any costs incurred by us on correspondence or taking steps to trace you or recover money you owe (including legal costs). Further details are available on request from your branch.

Receiving money from outside the UK

Transaction typeLocationCurrencyFee
SEPANo charge
SWIFTWithin the EEAAll Currencies including Sterling up to £100 (or equivalent)No Charge
Currency is Euro, Swedish Krona or Romanian Leu over £100 (or equivalent)No charge
All remaining currencies including sterling over £100 (or equivalent)£7.00
SWIFTOutside the EEAAll currencies up to £100 (or equivalent)No charge
All currencies over £100 (or equivalent)£7.00
Copies of confirmations/ advicesN/AN/A£5.00 per item

Countries within the EEA

Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czehc Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy,Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK

When we're talking about our current accounts, we have to use certain words and phrases to describe key things (like your Arranged Overdraft). You can find them in our Glossary of Terms.

Protecting your money

As we are covered by the Financial Services Compensation Scheme, your eligible deposits with Virgin Money are covered up to £85,000 per person.

View the FSCS guarantee

Need more help?

See the answers to the questions we get asked most.

Read FAQs

Supporting the needs of all our customers

Since you have a current account with us, there are some key ways we support you when you need us.

So we can send you to the right information for your account, please select the relevant sort code. You can find the sort code of your account on your debit card or in the Virgin Money App.

My account sort code starts with 82

My account sort code starts with 05

Fancy a chat?

Our team is here to answer your questions, talk through your needs and help you through the process.

Go to contact details