Compare bank accounts
Current accounts for adults
Current accounts are typically used for everyday spending. You’ll pay money into it, usually your salary or benefits.
Find the right account for you. Explore how our current accounts compare in areas such as monthly fees and interest rates.
Everyday bank account | Packaged bank account | Basic bank account | |
|---|---|---|---|
| Account overview | M Plus Account Our most popular account with a free linked savings account, plus a whole lot more | Club M Account All the features of the M Plus Account, plus travel, mobile and gadget insurance and breakdown cover | M Account A great account if you have little, poor, or no credit history |
| Monthly fee for maintaining the account | None | £12.50 More info You only pay the monthly fee for maintaining your account if your insurance benefits are on. If your insurance benefits are off, you will no longer have insurance cover. | None |
| Minimum age to open the account | 18 - in app / online 16 - Branch | 18 | 16 |
| How to open the account | App / Online / Branch | Online / Branch | Phone / Branch |
| Available as a joint account | Yes | Yes | Yes |
| The highlights | |||
| A linked saver account with 2.25% AER interest on balances up to £25,000. 1.75% AER on balances above £25,000. More info 2.25% AER (2.23% gross p.a. variable) on balances up to £25,000. 1.75% AER (1.74% gross) on balances above £25,000. Interest paid quarterly. | Yes | Yes | Yes |
| 1.00% AER interest paid on credit balances up to £1,000 More info 1.00% AER (1.00% gross p.a. variable) on your current account balance up to £1,000. Interest paid monthly. | Yes | Yes | No |
| Access to exclusive accounts and offers | Yes | Yes | Yes |
| Cashback on purchases from well-known brands | Yes | Yes | Yes |
| Offset mortgage facilities More info An offset mortgage facility allows you to link your eligible current or savings accounts to your offset mortgage, reducing the amount of interest you are charged. | Yes | Yes | No |
| Insurance and breakdown cover | |||
| Worldwide family multi-trip travel insurance More info 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). | No | Yes | No |
| Worldwide family mobile and gadget insurance | No | Yes | No |
| UK and Europe breakdown cover More info Europe covers 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. | No | Yes | No |
| Using your account | |||
| Manage your account with the Virgin Money Mobile Banking app, online banking, by phone and in Branch | Yes | Yes | Yes |
| A debit card which works worldwide | Yes | Yes | Yes |
| No fees when you use your card abroad or shop online in other currencies When you’re abroad, some cash machines might charge a fee | Yes | Yes | Yes |
| Add your card to Apple Pay and Google Pay | Yes | Yes | Yes |
| Arranged and Unarranged Overdrafts available More info Subject to status. Charges apply. 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. 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. | Yes | Yes | No |
| Fee if a payment is refused due to lack of funds | No | No | No |
| Chequebook available | Yes | Yes | No |
| Supporting you | |||
| Financial Services Compensation Scheme (FSCS) cover up to £85,000 | Yes | Yes | Yes |
| Switch to this account with the Current Account Switch Service | Yes | Yes | Yes |
| 24/7 support | Yes | Yes | Yes |
| Discover our current accounts | Everyday bank accountM Plus Account | Packaged bank accountClub M Account | Basic bank accountM Account |
Discover our current accounts
Everyday bank account
M Plus AccountPackaged bank account
Club M AccountBasic bank account
M AccountM Power Account - our child account for 11 to 15 year olds
If you have an eligible current account and use the Virgin Money Mobile Banking app, you can apply for our child bank account for your 11 to 15s.
They’ll get a proper bank account with a debit card and their own app. You’ll get peace of mind as you can see when, where and how much they’re spending.
View M Power Account
Why should I compare current accounts?
It's a smart move for several reasons:
- Interest rates
- Different accounts offer different interest rates. Finding the best rate can help your money grow faster.
- Fees
- Check the fees on a current account and avoid unnecessary charges.
- Rewards
- For example you could get access to exclusive accounts and offers.
- Overdrafts
- An arranged overdraft is a way to borrow money from the bank and is intended for occasional use. Find out if you're able to get one with your current account. You can also use our overdraft calculator to see how much it would cost you.
- Accessibility
- Consider the convenience of branch locations and online banking options. This can make managing your money easier.
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.
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