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Managing your account

Interest is calculated daily on the cleared balance in the account on that day and paid quarterly.

There are a number of ways to pay money in, including cash, cheques and transfers from another account. A standing order mandate can be used by an adult to pay money into your account on a regular basis. The parent, grandparent, guardian or other responsible adult can set this up in their online banking or banking app, or use the form below and hand in to a Store, once the account has been opened.

Standing order form Link opens in a new window

When it comes to taking money out, if you’re the adult operating the account, you can only do this in Store. If you are the young person operating the account (from age 11) you can take money out in our Stores or use your debit card (if you have one) at ATMs or to buy stuff.

If you’re the young person, once you’re 11 you can bank with us on the app and ask for a debit card (if the adult agrees). And from the age of 16 you’ll be able to bank with us online and over the phone (if you want). You'll also need to sign up to some extra Terms Link opens in a new window.

You and the adult on the account can pop to your local Store, remember to bring some ID.

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

It’s important to keep everything about the account safe. If anything is wrong or you’re having problems, let us know in Store or give us a call on 0800 121 7365.

Maturing Jumpstart accounts

When the young person named on the account turns 17, it’s time for an adult account. The account will automatically move to a Virgin Money M Account.

We will contact the young person ahead of their birthday as there are a few steps you’ll both need to take to make sure they can still use the account.

The M Account is our free to use and super straightforward current account. It comes with our handy mobile app for smarter money management, plus a linked savings account. This account allows standing orders and direct debits, and comes with a contactless debit card. There are no fees for day-to-day services and you won’t be charged for a refused payment. There is no arranged overdraft available with M Account. We’ll send all the details before you switch.

View our Virgin Money M Account Link opens in a new window.