Easy Access Cash ISA

Annual interest is paid on 30 November, 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 two months' notice before the rate reduces. Please refer to section 10 within the Savings terms and conditions.

This projection is provided for illustrative purposes only and does not take into account your individual circumstances. This is based on no withdrawals or further deposits being made and interest being added to the account. The projected balance is based on the annual interest rate.

• This account can be opened in Store, over the phone and by post by UK residents aged 16 or over.
• Only one account can be opened per customer per issue.
• Minimum to open £1.
• 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 2020 - 2021 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.
• 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.
  • Cheque.
  • BACS/CHAPS.
  • Arranging an electronic transfer.
  • Transfer from an existing Virgin Money account, subject to the terms and conditions of that account.
  • Transferring an existing Cash ISA or a Stocks and Shares ISA from another provider.

• Minimum withdrawal amount is £1 (or less if closing).
• To request a withdrawal simply send your written instructions to Savings Operations, Virgin Money, Jubilee House, Gosforth, Newcastle upon Tyne, NE3 4PL or you can take money out in the following ways:
  • Cash - Store** only.
  • Cheque - simply complete a Transaction Slip and a cheque will be sent promptly to your correspondence address.
  • Electronic transfer.
  • CHAPS.
  • Transfer to another Virgin Money account, subject to the terms and conditions of that account.

• This account is a payment account.
• For accounts opened over the phone or by post we will send you a Welcome Pack in the post with details of your account number and opening balance.
• For accounts opened in a Virgin Money Store we will provide your product information when we talk to you and send you a statement to show any money paid in.
• Each month there is a transaction on your account (other than an interest payment), we will send you a paper statement at least once. If there are no transactions in a calendar year, your statement will be sent annually in December and on closure of your account.
• 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 2020 - 2021 tax year, you can also transfer previous tax years' Cash ISA and Stocks and Shares ISA subscriptions. You can only subscribe to one 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.
• As this is a flexible ISA, from 6 April 2016 you can now withdraw money from your account and put it back in without it counting towards your annual ISA allowance. This money must be paid into the account in the same tax year as the withdrawal or you will lose the ability to replace it.

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 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 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.