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Virgin Money M Power Account
Child bank account for 11-15s

M Power current account 1.00% AER1 (1.00% Gross2 P.A.) variable on balances up to £1,000, interest paid monthly.
Linked to the M Power Saver 2.25% AER1 (2.23% Gross2 P.A.) variable on balances up to £25,000, and 1.75% AER1 (1.74% Gross2 per annum variable) on balances above £25,000. Interest paid quarterly. This rate applies from 16 June 2025. Until then, you'll earn 2.50% AER1 (2.48% gross2 per annum variable) on balances up to £25,000 and 2.00% AER1 (1.99% gross2), on any balances above £25,000.
Account features
  • Pay money in or take money out at any time
  • No monthly fee
  • They get a debit card and app to manage their money
  • You can keep track of their spending from your app

Our M Power current account comes with a linked savings account called the M Power Saver.

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Savings calculator

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We're covered by the Financial Services Compensation Scheme. Savings with Virgin Money are covered up to £85,000 per person.

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1 AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added to the capital balance each year.

2 Gross P.A. is the rate of interest paid without the deduction of tax.