Defined Access Saver

Unlimited access with great rates for fewer withdrawals

4 or more withdrawals

per calendar year

Variable rate of

0.25% AER1

0.25% Gross2 P.A.

Up to 3 withdrawals

per calendar year

Variable rate of

0.51% AER1

0.51% Gross2 P.A.

Access your money whenever you choose, with a different rate depending on how you use your account. Get the higher rate for making 3 or less withdrawals in a year.

Don't need regular access to your money? Lock it away for our higher rates with a Fixed Rate Bond.

The highlights


Deposit and withdraw your money, anytime you like.

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Exclusive access with free refreshments and wifi.

Saving from £1

Open your account and start saving today with only £1.

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Account Name

Defined Access Saver Issue 14

What is the interest rate?

Issue Withdrawals Annual interest
% Gross2
Annual interest
% AER1
Monthly interest
% Gross2
Monthly interest
% AER1
14 Up to 3 withdrawals 0.51 0.51 0.51 0.51
4 or more withdrawals 0.25 0.25 0.25 0.25

If four or more withdrawals are made per calendar year, interest will be paid as outlined above until the second last working day of the year when the number of withdrawals will reset to zero and the higher interest rate will resume.

Annual interest is paid on 25 June and will be available the next working day. Monthly interest is paid on the last day of each month, and will be available the next working day.

Can Virgin Money change the interest rate?

Rates are variable. This means we may increase or decrease interest rates at any time. When we decrease interest rates we will give you at least 14 days’ notice before the rate reduces. Please refer to section 10 within the Savings terms and conditions.

What would the estimated balance be after 12 months based on a £1,000 deposit?

Issue Withdrawals Projected balance
Defined Access Saver Issue 14 Up to 3 withdrawals £1,005.10
4 or more withdrawals £1,002.50

This projection is provided for illustrative purposes only and does not take into account your individual circumstances. This is based on no withdrawals or further deposits being made and interest being added to the account. The projected balance is based on the annual interest rate.

How do I open and manage my account?

  • This account can be opened in Store, over the phone and by post by UK residents aged 16 or over.
  • Only one account can be opened per customer per issue.
  • Minimum initial and additional deposit £1.
  • Minimum operating balance £1
  • Maximum deposit limit £250,000. For all accounts the maximum deposit limit also applies to joint accounts.
  • If a deposit results in your account going over the maximum deposit limit we will return the additional money to you. This does not include any interest you have asked to be added direct to your account.
  • Each customer can save up to a total of £2 million with Virgin Money, across all accounts held.
  • Deposits and instructions can be made by:
    • Cash – Store** only.
    • Cheque.
    • Arranging an electronic transfer.
    • Transfer from an existing Virgin Money account, subject to the terms and conditions of that account.

Can I withdraw money?

  • Minimum withdrawal amount is £1 (or less if closing).
  • Four or more withdrawals per calendar year will result in a reduction to the interest rate payable.
  • You can have access to your money whenever you need it. To request a withdrawal simply send your written instructions to Savings Operations, Virgin Money, Jubilee House, Gosforth, Newcastle upon Tyne, NE3 4PL or you can take money out in the following ways:
    • Cash – Store** only.
    • Cheque – simply complete a Transaction Slip and a cheque will be sent promptly to your correspondence address.
    • Electronic transfer.
    • CHAPS.
    • Transfer to another Virgin Money account, subject to the terms and conditions of that account.

Additional Information

  • This account is a non-payment account.
  • The automatic deduction of tax on savings interest ceased with effect from 6 April 2016.
  • We pay interest without deducting income tax, unless HMRC/the law requires otherwise. However, depending on your personal circumstances, you may be liable to pay income tax on the interest you have earned. Please visit for further information. We do not issue Certificates of interest paid and tax deducted automatically. However, once you have requested and received a Certificate of interest paid and tax deducted we will provide further certificates in April each subsequent year that the account remains open and, for closed accounts, in the tax year the account is closed.
  • Please note, the tax treatment and rate of interest payable depend on the individual circumstances of each customer and may change in the future.
  • For accounts opened over the phone or by post we will send you a Welcome Pack in the post with details of your account number and opening balance. Each month there is a transaction on your account (other than an interest payment), we will send you a paper statement at least once. If there are no transactions in a calendar year, your statement will be sent annually in July and on closure of your account.
  • Virgin Money Store accounts will receive a passbook. You must remember to present your passbook and suitable personal identification each time you make a withdrawal in a Store. Your passbook will be updated to show details of your transactions and the interest added to your account. It will show the number of withdrawals that you have made to help you keep track. We will also send you a paper statement each month there are any payments on your account (other than an interest payment) if regulations and guidance from our regulator require us to do so and unless otherwise agreed with you.
  • If you make four or more withdrawals per calendar year you will be notified that your interest rate has changed.

Complaints and cancellations

We hope we can resolve any issues you may have in the first instance, but if you have a complaint, please let us know as soon as possible so that we can look into it for you. You can write the details of your complaint to the Customer Relations Team, Virgin Money plc, Gosforth, Newcastle Upon Tyne, NE3 4PL or email customerrelations@virginmoney.comEmail opens in a new window

If we cannot resolve the complaint to your satisfaction you have the right to refer your complaint to the Financial Ombudsman Service, which provides independent adjudication of complaints. A copy of our Internal Complaint Procedures leafletPDF opens in a new window (PDF, 164KB) is available on request.

If you are not happy with your choice of account within 14 days of opening it, we will help you switch accounts.

If you wish to take advantage of this 14 day cancellation period please contact our Main Office at:

Savings Operations,
Virgin Money,
Jubilee House,

Or visit your local Virgin Money Store to cancel your account. If you do cancel your account the full amount of your investment, together with any interest earned in accordance with your account details will be returned to you.

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Save with confidence

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

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Things you may need to hand

  • Your bank or building society number if you want your interest paid to another account
  • The details of other applicants, if you are opening an account with other people

This is a store or post account.

Select which account opening method you’d prefer below.

To apply for a postal account

Send your completed application form to:

Virgin Money plc
NEA 3780
Newcastle upon Tyne

Please use 'Print and post' for a Power of Attorney account.

0345 850 2336

Mon - Fri 8am - 8pm
Sat 8am - 4pm
Sun 10am - 3pm

Call us to open your account and we'll provide you with your account number so you can deposit straight away.

Calls to 03 numbers are the same as calls to 01 or 02 numbers and they are included in inclusive minutes and discount schemes in the same way.

To apply for a store account

Request an appointment and chat with us face to face at your local Store.

We'll give you straightforward, friendly help with our savings products.

Frequently asked questions

How do I pay money into this account?

You can add money to this account with any amount between £1 and £250,000 by:

  • Transferring money electronically to us by BACS, CHAPS, FPS or Standing Order.
  • Visiting your local Store** to make a cash or cheque deposit.
  • Transferring money from another account either by sending a transaction slip to our Main Office or by visiting your local Store** with ID and passbook if applicable (as long as ou can withdraw from the account)
  • Sending a cheque with a transaction slip to our Main Office – please make the cheque payable to "Virgin Money plc for the account of [insert account holder’s name(s)]" and crossed "A/c Payee only". Please also quote your account number on the reverse
For FPS, BACS and Standing Order transfers
Sort code 08-61-15
Account number 00000515
Reference Your account number
For CHAPS transfers
Sort code 08-02-65
Account number 50048407
Reference Your account number and your name
For CHAPS transfers from banks outside the UK
Sort code 40-02-50
Account number 61333372
Reference Customers Virgin Money Account Number and Name

How do I take money out?

  • You can have no notice access to your money.
  • There are no limits on the amount of withdrawals, but remember four or more withdrawals per calendar year will result in a reduction in the interest rate payable until the year end.
  • The minimum amount you can withdraw is £1 (or less if closing).

You can take money out in the following ways:

  • cash – Virgin Money Store** only;
  • cheque – you can take out up to £500,000 by cheque in a day from any Virgin Money Store**. Larger amounts by cheque can be posted to you direct from our Main Office;
  • electronic transfer – if possible, we will send your payment by FPS, meaning that we will debit your account the same day or on any future date for which you authorised the payment. The payment should reach your nominated account within a few hours but no later than the end of the next business day; or
  • if you request a CHAPS withdrawal and we receive your authority and full instructions before 4pm on a business day, the money should be credited to your nominated bank or building society account the same day. Withdrawal instructions received after 4pm will not be processed until the next business day and the money should be credited to your nominated bank or building society account on that day. A charge will be made for this type of transfer, please refer to Condition 11 within your Savings Terms and Conditions for details. The minimum you can withdraw by CHAPS is £250 up to the account balance.
  • transfer to another Virgin Money account, subject to the terms and conditions of that account.

To make a withdrawal by Faster Payment or CHAPS please provide us with the following details:

  • Virgin Money account number
  • Amount to transfer
  • Name of bank or building society where funds are to be transferred
  • Valid sort code
  • Account number
  • Reference number (where applicable)
  • For a CHAPS, provide authority to debit the CHAPS transfer charge.

CHAPS and Faster Payments cannot be cancelled unless you have requested a future dated payment at a Store or by post, and the cancellation must be done at least one business day before the payment is due. Visit a Store, contact us by telephone or send written instructions to us to let us know.

In all cases the correct number of account holders must provide their signature as authority for your account to be debited.

Will I incur any charges with this account?

There are charges for some standard services that we make available to you. These are detailed below:

Service Charge
CHAPS Minimum withdrawal £250 £30 per transfer
Copy cheque £5 per cheque
Copy statement £10 per statement

We may also make a reasonable charge for any non-standard services which we make available to you on a discretionary basis. If you request such a service, we will tell you the amount of our charges before we act on your instructions.

When is the interest paid, and where is it paid to?

  • This account pays a variable rate of interest.
  • You can choose when and how to have your interest paid. Interest can be paid monthly to supplement your income or yearly as a lump sum – it’s entirely up to you.
  • Annual interest is paid on 25 June and available on the next business day. Monthly interest is paid on the last day of each month and is available on the next business day.
  • If the balance in your account falls below £1, the minimum amount set, our basic savings rate of 0.10% Gross2 P.A applies.

Interest can be;

  • Added to your account.
  • Transferred into any Virgin Money account (except Cash ISAs or, if your existing terms and conditions do not allow)
  • Paid into an account with another bank or building society.