On your written instructions and within a time stipulated by you, all or part of your Cash ISA funds and any earned interest can be transferred or paid to you (please refer to the Savings Terms and Conditions for further information).
Any funds withdrawn from a Cash ISA will lose their tax-free status. To ensure you retain this tax-free status, ISA funds must be transferred to another ISA either with another provider or a Virgin Money Cash ISA.
Simply send your written instruction to Savings Operations, Virgin Money, Jubilee House, NE3 4PL or you can take money out in the following ways:
To make a withdrawal by Faster Payment or CHAPS please provide us with the following details:
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.
- cash – Virgin Money Store** only;
- cheque – simply complete a transaction slip and a cheque will be sent promptly to your correspondence address;
- 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.
- 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.
- transfer to another Virgin Money account, subject to the terms and conditions of that account.
In all cases the correct number of account holders must provide their signature as authority for your account to be debited.