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Highlights

* You can apply for a debit card once you turn 11 if you are the one operating the account. A debit card will not be issued to the responsible adult for this account.

Variable rate of 0.30% to 0.40%

AER1 / Gross1 P.A, tiered rate of interest based on balances, interest paid quarterly.

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Summary box

Please read the following Summary box before applying for this account

Account name: Jumpstart account

BalanceGross1 (%)AER1 (%)
£1,000 and over0.400.40
£500 - £9990.350.35
£250 - £4990.350.35
£1 - £2490.300.30

We work out how much interest to pay you at the end of each day. This is based on the money in your account. We’ll add any interest on the last working day in March, June, September and December. The rate of interest on this account is tiered. You will earn one rate based on your account balance.

Yes, if we decrease your rate we’ll provide at least 2 months’ notice as described in your Terms Link opens in a new window. We may increase your rate without giving you notice.

Initial deposit at account openingBalance after 12 months
£1,000£1,004.00
£500£501.75
£250£250.87
£100£100.30

This is only an example and does not take into account your individual circumstances.

The example assumes that:

  • no further deposits or withdrawals are made;
  • any interest earned stays in the account; and
  • there is no change to interest rates and tiers.
  • This is an account for children aged from 0 to 16 years.
  • If children are under 11, the account can be opened in their name and operated by their parent, guardian, grandparent or other responsible adult.
  • Children 11 years of age or older, can open and operate the account in their name provided their parent, guardian, grandparent or other responsible adult agrees.
  • Children over 11 years and operating their own account can also request to have their own debit card to buy stuff or use at the cash machine.
  • The account can be opened in Store or by calling us.
  • The minimum amount to open and maintain the account is £1. There is no maximum.

Yes. If there is a Responsible Adult operating on the account - they can withdraw funds in Store.

And if the child is able to operate the account on their own they can also withdraw funds in Store or using their debit card (if they’ve got one). Check the Terms Link opens in a new window for more info.

There is no notice period to make a withdrawal.

Interest will be paid gross.

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

Important documents

Before applying please make sure that you have read the following. Retain copies for future reference.

When you turn 17

You will no longer be eligible for this account when you turn 17 years old. Find out what will happen to the account then.

More on maturity Link opens in a new window

Apply in Store

If you're interested in this account, visit your local Store to apply for this account

Identification requirements

As part of becoming a new customer we need to confirm who you are and where you live.

A parent, grandparent, guardian or other responsible adult should bring:

  • ID document.
  • Proof of address.
  • Child's ID document, such as current passport, birth certificate or adoption certificate.
  • We may also need a document to confirm the child's address if they do not live with you.

Helpful information about proof of ID documents Link opens in a new window

Other documents are also acceptable for both the adult and the child. If you do not have any of these documents, please ask in branch for further details.


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Have savings got you stumped?

View our most frequently asked questions about our Jumpstart account.

Jumpstart account FAQs

1 AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once each year. Gross rate is the interest payable without taking account of any tax payable. Credit interest is calculated daily on the cleared credit balance in your account.