Defined Access Cash E-ISA

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

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.

These projections are provided for illustrative purposes only and do not take into account your individual circumstances. They are based on no withdrawals or further deposits being made and interest being added to the account. The projected balances are based on the annual interest rate.

• This account can be opened online by UK residents aged 18 or over. UK residents who are 16 or 17 and already have a fixed rate Cash ISA with Virgin Money will be allowed to select an appropriate Cash ISA to reinvest their funds into at maturity.
• Only one account can be opened per customer per issue.
• Minimum to open £1.
• For your initial deposit you are able to pay money in with your debit card. Any money paid in will receive interest immediately but cannot be withdrawn for six working days.
• Minimum additional deposit £1.
• Minimum operating balance £1.
• Each tax year you can pay in up to your annual tax-free allowance (subject to the terms and conditions of your account), which is £20,000 in the 2024/2025 tax year. This annual allowance may change in future tax years. You will find this information on our website, in our Stores and via our Contact Centre.
• In addition to this you can also transfer previous tax years' Cash ISA and Stocks and Shares ISA subscriptions.
• Each customer can save up to a total of £2 million with Virgin Money, across all accounts held.
• If a deposit results in your account going over the maximum deposit limit or the annual tax-free allowance we will return the excess money to you. This does not include any interest you have asked to be added direct to your account.
• Deposits and instructions can be made by:
  • Cash - Store** only.
    A maximum of £30,000 in cash can be deposited in Store in any 12 month period across all accounts held with us.
  • Cheque.
  • Electronic transfer.
  • Transfer from an existing Virgin Money account, subject to the terms and conditions of that account.

• 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.
• Any transfer out will be classed as a withdrawal.
• 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:
  • Transfer to another Virgin Money account, subject to the terms and conditions of that account.
  • By electronic transfer: payments up to £100,000 will be sent by Faster Payments. Payments that are more than £100,000 will be sent by CHAPS free of charge.

• Remember that any money you take out of your ISA will no longer benefit from the tax treatment an ISA receives unless it is transferred directly to another ISA by your ISA provider.

• This account is a non-payment account.
• Each month that there is a transaction on your account (other than an interest payment), we may email you at least once to let you know a statement is available to view online. You can view your transactions online at any time. Your online transactions will help you to keep track of the number of withdrawals you have made. If you make four or more withdrawals per calendar year you will receive a notification that your interest rate has changed, and your new interest rate will be displayed online.
• Please also remember the tax advantages depend on your individual circumstances and the tax treatment of ISAs may change in the future.
• In addition to paying in up to £20,000 in the 2024/2025 tax year, you can also transfer previous tax years' Cash ISA and Stocks and Shares ISA subscriptions. You can only subscribe to one Virgin Money Cash ISA in each tax year.
• By opening a Cash ISA you limit the amount of tax-free savings you can make in a Stocks and Shares ISA, an Innovative Finance ISA and a Lifetime ISA.
• When you close your account to retain your ISA tax benefits, your ISA provider needs to transfer your money directly to another ISA provider.

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, Gosforth, Newcastle Upon Tyne, NE3 4PL or email customerrelations@virginmoney.com

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 leaflet (PDF, 164KB) is available on request.

If you are not happy with your choice of account within 14 days of depositing your ISA subscription, we will help you close your account and you will not lose your right to invest in another Cash ISA, Stocks and Shares ISA, Innovative Finance ISA or Lifetime ISA for that tax year. If you wish to take advantage of this 14-day rule, you must send your cancellation in writing to Savings Operations, Virgin Money, Jubilee House, NE3 4PL, when you close your account we will ensure that our reports to HM Revenue & Customs reflect the correct position. If you do cancel your account, the full amount of your investment, together with any interest earned will be returned to you.

It is not possible for a Power of Attorney account to be operated online. To apply as a Power of Attorney please download an application form, complete and return to the address provided on the form. Your account will then be opened and operated by post via our Gosforth Office.