1. Who's this offer for?
It’s for new M Power account customers, who:
- Are aged 11-15 at application and have their own mobile number.
- Live in the UK.
- Don’t already have an M Power account open in their name. However, if their account has been closed since 1 May 2024, this offer’s not for you.
2. What's the offer?
It’s a bonus of £25 paid into the linked M Power Saver when you open an M Power account. To find out more, read on and we’ll tell you how the bonus works.
3. How can you get this offer?
You must do all these things:
- Apply for and open an M Power account on behalf of your child via the Virgin Money Mobile Banking app between 3 February 2025 and 5 March 2025. If we say no to your application, you won’t be eligible for the bonus.
- Pay in at least £1 into the M Power current account by midnight on 12 March 2025.
- We’ll put £25 into the linked M Power Saver by end of March 2025. As long as the M Power account is not closed before then.
4. How do I open an M Power Account?
- Parents/Guardians must have, or open (subject to status and eligibility), an eligible Virgin Money current account to apply for the M Power account.
- Parents/Guardians must apply for an M Power account on behalf of their child in the ‘discover’ section of the Virgin Money Mobile Banking app.
- Parents/Guardians must be 18+ and a UK resident.
- Children must be aged 11-15 at application, live in the UK and have their own mobile number.
5. What if we withdraw the offer?
This offer is subject to availability. 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 need to withdraw this offer and you have already submitted your M Power account application. You will still be eligible for this offer, as long as you continue to complete the necessary account funding conditions (see How can you get this offer? above for exactly what you’ll need to do).
6. What else do you need to know?
- You can only get this offer once per child.
- A Parent/Guardian can open a maximum of five M Power account(s) for different children. For each M Power account opened, which is funded in line with these offer Terms, we will fund the corresponding linked M Power Saver with £25.
- If the M Power account is closed before we fund the M Power Saver, the £25 bonus will not be paid.
- The M Power account is in the child’s name and any money in the M Power account, including the £25 credit to M Power Saver belongs to the child. The Parent/Guardian cannot request the money is paid to them instead.
- Applications for the M Power account are subject to status and eligibility criteria.
- These offer terms are separate to the terms that apply to the M Power account.
- We’ll use both you and your child’s personal details to help us run this 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 reasonably control, or it’s not our fault, then we may have to make changes to this offer. This includes suspending 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.
7. Who’s running this offer?
We are Clydesdale Bank PLC trading as Virgin Money. Our company number is SC001111. Our registered office is 177 Bothwell Street, Glasgow G2 7ER.