Virgin Money Regular E-Saver

A fixed rate of interest with a regular chance to win Virgin rewards

Fixed rate of

2.25% AER1

2.25% Gross2 P.A

  • Earn a fixed interest rate and get access to your money whenever you need it
  • Save from £1 up to £250 per month
  • Amazing prizes up for grabs every few months with our Regular Rewards scheme.

Get into the saving habit

Saving regular amounts - big or small - is a great way to build up a pot of money over time. The Virgin Money Regular Saver is designed to help you do just that. Get a great fixed rate for the year and get at your money whenever you need to - no penalties. Plus we offer regular savers the chance to win regular rewards too.

Regular Rewards

As a Virgin Money Regular E-Saver customer, you can earn entries into our quarterly prize draws. Save each month for more chances to win prizes from around the Virgin Group. Prizes up for grabs include:

  • A fantastic Virgin holiday
  • A prize courtesy of our friends at Virgin Media
  • Cases of 12 Virgin Wines
  • Virgin inspired weekend breaks
  • And much more…

Download the free Virgin Red app
It gives you the opportunity to take part in competitions, and access to exclusives from Virgin and friends – from 20% off Virgin Trains to free coffee at Caffe Nero and much more... Available on iOS/Android.

How does it work?

1. Open a Virgin Money Regular E-Saver

  • Select ‘Apply now’ below and follow the steps to apply online
  • Start from £1 up to £250 per calendar month
  • Earn a competitive fixed rate of 2.25% AER1 (2.25% Gross2 P.A.) on your savings

2. Save regularly for a goal or a rainy day

  • Why not set a goal and work out how much you need to save each month to get there?
  • Build up a pot to take care of those expected or unexpected expenses
  • Access your money whenever you need to, without restrictions

3. Earn Regular Rewards entries as you save

  • Each quarter, automatically gain 10 entries into the prize draw for having your account open. You can also gain extra entries for making regular deposits (10 entries for each month you make a deposit)
  • Your entries go in the hat for our quarterly Regular Rewards draw
  • Prizes from around the Virgin Group, including Virgin Holidays, Virgin Experience Days, Virgin Wines and more
Regular Rewards Terms & Conditions. PDF opens in a new window  

When your fixed rate ends, we'll make sure you have some great options to carry on saving with us, including our Loyalty Reward account

Account Name

Regular E-Saver Issue 5

What is the interest rate?

Issue Annual interest
% Gross2
Annual interest
% AER1
Monthly interest
% Gross2
Monthly interest
% AER1
Maturity date
5 2.25 2.25 2.23 2.25 20 June 2018

Annual interest is paid on 11 March and will be available the next working day. Monthly interest is paid on the 10th day of the month, and will be available the next working day.

Can Virgin Money Change the interest rate?

Rates are fixed until the maturity date. This means we cannot change the rate until after the fixed rate period.

What would the estimated balance be after 14 months based on a £3,500 deposit?

Issue Fixed Term Projected balance at the end of the fixed term
Regular E-Saver Issue 5 20 June 2018 £3,549.22

This projection is provided for illustrative purposes only and does not take into account your individual circumstances. It is based on a maximum £250 monthly deposit over 14 months, with no withdrawals 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 online by UK residents aged 16 or over.
  • Only one account can be opened per customer per issue.
  • Minimum initial and additional deposit £1.
  • Maximum calendar monthly deposit limit £250.
  • Maximum deposit limit £3,500 a year. For all accounts the maximum deposit limit also applies to joint accounts.
  • If a monthly deposit results in your account going over the maximum £250 per calendar month 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.
    • BACS/CHAPS.
    • 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). If you withdraw money from your Regular E-Saver in a calendar month you cannot pay money back in to your account beyond the £250 per calendar month deposit limit.
  • You can have access to your money whenever you need it. Simply log into your account and arrange to take money in the following ways:
    • Electronic transfer.
    • CHAPS.
    • Transfer to another Virgin Money account, subject to the terms and conditions of that account.
  • After the fixed rate period your account will become a variable rate account. However, we will write to you before the end of the fixed rate period to let you know the options available to you, as well as advising you of the interest rate currently payable on the variable rate account.

Additional Information

  • The automatic deduction of tax on savings interest ceased with effect from 6 April 2016.
  • Interest payments will not be counted towards the maximum £250 monthly deposit.
  • 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 www.gov.uk/hmrc/savingsallowance 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.
  • You will be able to view your Regular E-Saver statement by logging into your account. These online statements will show the balance, details of any transactions and interest added to your account.
  • If eligible, you will automatically be entered into our Regular Rewards Prize Draw, which gives you the chance to win prizes from around the Virgin Group. Up to date terms and conditions (which include eligibility and all other information) can be viewed at virginmoney.com/prizedrawterms for as long as the entry period remains open.

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,
NE3 4PL

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.

Print this summary boxPrint this summary box

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.

View the FSCS guarantee

Apply online now in minutes

Things you may need to hand

  • Your bank or building society number to set up an account for withdrawals (don't worry - this can be changed later).
  • New customers may need their National Insurance number.

This is an online account.

The easiest way to open a Virgin Money savings account is online. It takes about ten minutes, and you can get started straight away.

New customers

Apply now

Already a savings or mortgage customer?

Sign in and apply

Frequently asked questions

How do I pay money into this account?

You can add money to this account, up to your £250 monthly limit, by:

  • Transferring money electronically to us by BACS, CHAPS, FPS or standing Order.
  • Sending a cheque with a transaction slip PDF (PDF, 116KB) to our Main Office - please make the cheque payable to "Virgin Money plc for the account of [insert account holders name(s)]" and crossed "A/c Payee only". Please also quote your account number on the reverse.
  • Visiting your local Store opens in a new window** to make a cash or cheque deposit.
  • Transferring money from another Virgin Money account either by requesting a transfer online, sending a transaction slip PDF (PDF, 116KB) to our Main Office or visiting your local Store with ID and a paabook (as long as you can withdraw from the account).
For FPS, BACS and Standing Order transfers
Sort code08-60-64
Account numberYour account number
For CHAPS transfers
Sort code08-02-85
Account number50048407
ReferenceYour account number and your name
For CHAPS transfers from banks outside the UK
Sort code40-02-50
Account number61333372
ReferenceCustomers Virgin Money Account Number and Name

BIC No.
NRNBGB22XXX

IBAN No.
GB07MIDL40025061333372

How do I take money out?

  • You can have no limits on the amount of withdrawals.
  • The minimum amount you can withdraw is £ (or less if closing).
  • Any funds withdrawn can only be replaced in line with the monthly allowance limit.

Simply log on to your account and arrange to transfer money to your nominated account or to another of our accounts (subject to the terms and conditions of that account).

You can take money out by:

  • Electronic transfer - if possible, we will make your payment by FPS and we will debit your account either on the same day, or any future date. The payment should reach your nominated account within a few hours but no later than the end of the next business day.
  • 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 bank or building society account the same day. Please note, CHAPS is a chargeable service, please refer to charges for details.

On occasion we may need to verify your identity in order to carry out any instructions you may have given us. Keeping your contact details up to date will help avoid delay.

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:

ServiceCharge
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 fixed 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 the 11 March and available on the next business day. Monthly interest is paid on the 10th of each month and is available on the next business day.
  • If the balance in your account falls below £1, the minimum balance, our basic savings rate of 0.10% Gross2 P.A applies.

Interest can be;

  • Added to your account.
  • Transferred into any Virgin Money account (as long as you can add to the account).
  • Paid into an account with another bank or building society.