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Terms & conditions

Switch offer 8 - 25% Cashback - Offer ended on 30/09/2022

Switching Offer

Who can take up this offer?

  • New Virgin Money 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 30 April 2022); and
    • haven’t previously taken up an incentive for switching a current account to Virgin Money since 1 November 2020.

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.
    1. 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.
    2. Sign up to Virgin Money Cashback (if you haven’t already). This can be found in the Virgin Mobile Banking app, via the Discover button.
    3. Both our M Plus and Club M Accounts come with a linked savings account. You must pay at least £1,000 into your linked M Plus Saver or Club M Saver, and keep this in your account until we email you to confirm you are now eligible for the cashback incentive.
  • We’ll confirm you’re eligible for the offer via e-mail within 14 days of you meeting the offer conditions. We’ll send the e-mail to the one you gave during your account application. The e-mail will provide instructions on how to earn the cashback.

What is the offer?

  • If you meet the offer conditions, you will earn 25% cashback on your supermarket and fuel spend when you use your Virgin Money debit card (up to a maximum cashback amount of £160).
    1. UK Supermarkets include, but are not limited to, Asda, Iceland, Marks & Spencer, Morrisons, Sainsbury’s, ALDI, LIDL, Tesco, The Co-operative and Waitrose. As well as miscellaneous food stores, convenience stores, markets, specialty stores, and vending machines.
    2. Purchases at UK petrol stations and pay at pump.
  • You will have 60 days from the date you become eligible to earn cashback on supermarket and fuel spend (up to £160).
  • Note for joint account holders, the offer will only be visible to the primary account holder. Only one account holder will receive 25% cashback up to £160. To see who this account holder is, visit your cashback account profile in your app once you’ve signed up. You can change who receives account level cashback once every 30 days.
  • We thought we should highlight a few key things from the current Virgin Money Cashback terms:
    1. The cashback you earn will be paid into your cashback account within 35 days of each qualifying spend.
    2. Offers are updated regularly so keep an eye on the app. Once registered, all you need to do is spend and you'll earn cashback on offers automatically.
    3. Just remember, some current account cashback is related to the account rather than any account holder. Only one account holder will receive cashback on offers like bank account switches made through the Current Account Switch Service.

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.