Payment transaction history retention policy

Our retention policy

As part of the Competition and Markets Authority Retail Banking Market Investigation Order 2017, Virgin Money must provide payment transaction history (i.e. a list of all the transactions that have been processed on your account) free of charge to personal current account and business current account customers on the closure of an eligible account. Customers can also request the transaction history after the account has been closed.

Who does this policy apply to?

• This policy applies to all personal and business current account customers who have closed an eligible account and who have not opted out of receiving the transaction history for that account.
• Although payment transaction history will be provided in most cases, in some circumstances we are not required to provide this information. This includes for example, if the account has been closed due to the customer being deceased or where there has been fraudulent activity on the account.
• The transaction history will only be provided for closed accounts. You can request duplicate statements (subject to fee) in Store or by phone.

When you can receive this information

At the time of account closure

• Personal or business current account customers, closing an eligible account, will be provided with up to 5 year payment transaction history, free of charge, unless they have opted out of receiving this information.
• Customers will receive payment transactions in printed format or in braille and audio on request.
• We will aim to provide the transaction history within 10 working days after account closure. However, in some cases it may take longer.
• In some cases we may need customers to verify their details to ensure we send the transaction history to the customer at the correct address.

After account closure

• Previous personal or business current account customers, who closed an eligible account, may also request their payment transaction history for transactions that occurred up to 5 years prior to the date of the closure request (for example, if you request the information one year after you closed the account you would only receive four years of transaction history). There will be no fee for providing this information.
• Previous customers must be able to provide sufficient evidence of their identity.