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The Virgin Money Current Account

  • 2.02% AER1 (2.00% gross1 per annum variable) interest paid monthly on balances up to £1,000.
  • A contactless debit card which is free to use at ATMs* and in shops at home and abroad (subject to available funds).
  • Arranged Overdraft – subject to status. Use our Overdraft calculator to see the cost.

*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.

Linked to this savings account

  • 0.50% AER1 (0.50% gross1 per annum variable) interest on your savings, paid quarterly.
  • Savings Pots to help you buy those really special things.
  • Instant access to your savings – just move the money you need into your current account.

View the rates and fees

Plus the Virgin Money App

Set up budgets, top up your savings, sort out your spending. With the Virgin Money App, you’re in control.


If you're 18 or over, you can apply for this account online or over the phone. Or if you're 16 or 17, you can open it in some of our stores - please phone us and we'll tell you which ones. In any case, your application is subject to status.

Before you apply, take a look at as many accounts as you can, to make sure you end up with the one that's right for you. This isn't the only current account we offer. To help you decide, see how it stacks up against two others. Whichever you apply for, please have ID such as your passport or driving licence to hand.

Once we've approved your application, you have 14 days to cancel if you wish. Just phone us. Once you've cancelled, you have 30 days to pay anything you owe, such as interest or fees.

Account Summary

Account name: Virgin Money Instant Savings

What is the interest rate?

BalanceGross rate (%)AER (%)
On all balances0.50%0.50%

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 2 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 a £1,000 deposit?

Initial deposit at account openingBalance 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 Virgin Money Instant Savings Account if you have a Virgin Money Current Account with us in the same name(s). The Virgin Money Instant Savings Account will stay open, as long as the Virgin Money Current Account is maintained as described in the Terms.

The account can be opened in Store or online,, or call us on 0800 121 7365, someone from our team will be available 24/7.

There are no minimum or maximum balance restrictions or need to pay in on a regular basis. The Virgin Money Current Account is available to anyone from the age of 16.

If you want to apply online, you'll need to be at least 18. Subject to status.

Can I withdraw money?

You may only withdraw funds by transfer to your Virgin Money Current 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.

Additional Information

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.

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


An Arranged or Unarranged Overdraft is a way to borrow money from the bank and is intended for occasional use. Here's a quick overview of how they work:

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.

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.

If we’re unable to offer you the Virgin Money Current Account, we may be able to offer you our Readycash Account instead.

Check eligibility

Get started

Before you apply, please read the Virgin Money Current Account Terms (PDF, 2.9MB), the Account Tariff (PDF, 257KB) for the account, and the Digital Banking Services Terms (PDF, 143KB).

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Apply by phone

0800 678 3654

Or if you're abroad, call us on +44 141 221 7300

We’re here Monday to Friday 8am - 8pm, Saturday 9am - 5pm, Sunday 10am - 5pm

Calls may be recorded for training and quality purposes.

[1] AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once each year. Gross rate interest payable without taking account of any tax payable. Credit interest is calculated daily on the cleared credit balance in your account.