In this section

Top queries

How can I pay money into my account?

You can pay money into your account by:

Cash

  • Visiting a Virgin Money Store Link opens in a new window and paying in your cash (note: 18 of our Stores do not accept cash).
  • Visiting a Post Office® and paying in your cash – £5,000 max for large branches and £1,000 at concessions.

Cheque

Please make cheques payable to 'Virgin Money for the account of (insert account holder(s) name(s))’. Please also write your account number on the back of the cheque(s).

Electronic payments

If you are sending money from another bank or building society, you will need to quote the following details:

Faster Payments / BACS (Bankers Automated Clearing Service)

Sort code: 08-60-64
Account number: your eight digit account number

Faster Payments are usually processed within a few hours, but can take up to one business day.

BACS transfers should reach your account within three business days after they are sent.

Please note, if you have a chequebook with your account, the sort code on your chequebook is different to the one on your debit card and you should not use it for other payments on your account. If you need to provide a sort code (e.g. to set up a Direct Debit or for someone to pay money into your account), please quote the one on your debit card – this is the same as the one at the top of your statement.

CHAPS transfer

Sort code: 08-02-65
Account number: 50048407
Reference: your eight digit account number and your name
CHAPS transfers should reach your account the same day they are sent.

International money transfer

Sort code: 40-02-50
Account number: 61333372
Reference: your eight digit account number and your name
BIC number: NRNBGB22XXX
IBAN number: GB07MIDL40025061333372

Other ways to pay money into your account
  • Bank Giro Credit.
  • Sending money from another account with us (subject to the terms and conditions of that account).

How can I withdraw money from my account?

You have instant access to your money with your Virgin Money Debit Card.

  • Make a cash withdrawal in pounds in the UK of up to £500 at a cash machine* or over the counter at over 11,000 Post Office branches nationwide.
  • Take out an additional £100 cashback at the till at participating retailers.
  • Please note that if you have a joint account, the £500 daily cash limit and the £100 cashback limit are shared between both account holders.
  • You can use your card to buy travellers’ cheques or foreign currency up to the balance in your account.

* Charges will apply outside of the UK.

For further details on using your debit card, please see the leaflet below.

Guide to your Virgin Money Debit Card PDF opens in a new window 
(PDF, 1,171KB)

You can also take money out of your account by:

  • Visiting a Virgin Money Store Link opens in a new window (not including our 18 non-cash Stores) and withdrawing cash (£2,000 limit).
  • Cheque (if a chequebook is provided with your account).
  • Standing order or Direct Debit.
  • Sending money within the UK by Faster Payments.
  • Sending money to another account you hold with us (subject to the terms and conditions of that account).
  • Sending money within the UK by CHAPS (Clearing House Automated Payment System). We charge a fee for this service – please see the question ‘What are the interest rates and charges?’ for details.

Remember, the sort code on your new chequebook is different to the one on your debit card – if you need to provide a sort code (e.g. to set up a Direct Debit), please quote the one on your card.

Can I use my debit card outside of the UK?

Please tell us before you travel abroad to help avoid any issues with using your card while you are away – you can call us on 0345 600 6103* or visit your local Virgin Money Store Link opens in a new window 

You can make debit card payments in a foreign currency or make a cash withdrawal in foreign currency outside the UK, wherever you see the Mastercard logo. Just remember:

  • Outside the UK, we will charge you £1.50 each time you make a cash withdrawal in a foreign currency. Some cash machine operators might also charge you a fee, which they should display to you before you make the cash withdrawal.
  • The exchange rate for overseas transactions is determined by the card provider on the day they receive the transaction (which isn’t always the day you made the transaction). You can check the exchange rate used by visiting www.mastercard.com/global/currencyconversion
  • It is sensible to take other sources of money, not just your debit card.
  • From outside the UK you can call us on +44 191 279 4604* if you need to speak with us.

*We are here from 8am to 8pm Monday to Friday, 8am to 4pm on Saturdays and 10am to 3pm on Sundays. Calls to 03 numbers cost the same as calls to 01 or 02 numbers and they are included in inclusive minutes and discount schemes in the same way. Calls may be monitored and recorded.

How can I view my account balance?

Your Current Account offers many convenient ways to keep track of your balance and spending. You can find out your balance:

* We are here from 8am to 8pm Monday to Friday, 8am to 4pm on Saturdays and 10am to 3pm on Sundays. Calls to 03 numbers cost the same as calls to 01 or 02 numbers and they are included in inclusive minutes and discount schemes in the same way. Calls may be monitored and recorded.

** You can only view your account online if you are resident in the UK.

What are the charges?

Essential Current Account

We have made every aspect of the Essential Current Account as simple as possible, including our charges. Here is a list of the few things we charge for. All charges will be applied immediately.

The current charges that apply to your account are:
ServiceCharge
Additional paper copy of your statement£10
Cash withdrawal in foreign currency outside the UK£1.50 per transaction
We do not charge if you make a debit card payment in a foreign currency.

Standard same-day transfers (by Faster Payment) are available free of charge.

We also offer some non-standard services such as same day electronic transfer for CHAPS. We will make a reasonable charge for these services but will tell you the amount before we act on your instruction.

Fee Information Document

This document informs you about the fees for using the main services linked to the payment account. It will help you compare these fees with those of other accounts.

Fee Information Document - Essential Current Account  PDF opens in a new window 
(PDF, 122KB)

Virgin Money Current Account (previously opened with Northern Rock)

The charges that apply to your account are:
ServiceChargeWhen is the charge applied?
Arranged overdraft charge (monthly)£10See 'Charging period' below
Unarranged overdraft charge (monthly)£20See 'Charging period' below
Refusing a payment due to lack of funds£10 per item (maximum of three per month)See 'Charging period' below
Monthly Maximum Charge (for the above charges)£50See 'Charging period' below
Debit card purchases in a foreign currencyNo charge 
Cash machine withdrawals in a foreign currency outside the UK£1.50 per transactionStraightaway
Sending money within the UK by CHAPS£30 per transferStraightaway
Additional paper copy of your statement£10Straightaway
Cancelling a chequeNo charge
Copy chequesNo charge
Monthly Cap on unarranged overdraft charges
  • Each current account will set a monthly maximum charge for:
    • Going overdrawn when you have not arranged an overdraft; or
    • Going over/past your arranged overdraft limit (if you have one).
  • This cap covers any:
    • Interest and fees for going over/past your arranged overdraft limit;
    • Fees for each payment your bank allows despite lack of funds; and
    • Fees for each payment your bank refuses due to lack of funds.
Fee Information Document

This document informs you about the fees for using the main services linked to the payment account. It will help you compare these fees with those of other accounts.

Fee Information Document - Virgin Money Current Account PDF opens in a new window 
(PDF, 121KB)

Changes to charges

If we increase any of the charges above we will write to you at least two months before the change.

Charging period

The charging period is the 28th of one month to the 27th of the next.

If you use your arranged overdraft, go into an unarranged overdraft or have any payments refused due to lack of funds we add them up and write to you on the 28th to let you know about the charges, when they will be taken from your account and how much will be taken.

We take the charges from your account on the 21st of the month. If the 21st is a weekend or UK bank holiday, the charges will be taken the next working day.

Our rates and charges leaflets

You can save or print full details of our main charges using the leaflets below:

Current Account overdraft charges and scenarios PDF opens in a new window 
(PDF, 43KB)

Our lending commitments and what we ask of you

Virgin Money adheres to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk

This means that if we provide you with an overdraft facility on your account, we have a responsibility to act fairly. The below document sets out some of our key responsibilities and what we ask of you, to ensure that the relationship works well for both of us.

Standards of Lending Practice - key responsibilities PDF opens in a new window 
(PDF, 46KB)

What is the interest rate on my account?

Essential Current Account

Credit interest
(Payable on balances up to £100,000)
Gross1 variable rateAER2
0.75%30.75%3

We pay credit interest monthly and add this to your account on the 27th of each month. 

1 Gross is the rate of interest earned before income tax is deducted. Automatic deduction of tax on interest stopped on 6 April 2016. However, you may be liable to pay income tax on the interest you have earned, depending on your personal circumstances. Please contact HMRC or your applicable tax authority outside of the UK for further information or visit www.gov.uk/government/publications/personal-savings-allowance-factsheetLink opens in a new window

2 AER stands for Annual Equivalent Rate. It shows what the interest rate would be if interest was added each year to the account balance (including any interest already earned that year).

3 Essential Current Accounts opened before 19 September 2016 will continue to pay 1.00% Gross1/AER2 (variable) interest until 28 November 2016, when this will reduce to 0.75% as above.

Virgin Money Current Account (previously opened with Northern Rock)

Please note, this account is closed to new applications.

The current interest rates that apply to your account are:

Credit interest

(Payable on balances of £1 or more)
Gross1 variable rateAER2
0.10%0.10%

We pay credit interest monthly and add this to your account on the 27th of each month. 

1Gross is the rate of interest earned before income tax is deducted. Automatic deduction of tax on interest stopped on 6 April 2016. However, you may be liable to pay income tax on the interest you have earned, depending on your personal circumstances. Please contact HMRC or your applicable tax authority outside of the UK for further information or visit www.gov.uk/government/publications/personal-savings-allowance-factsheetLink opens in a new window

2 AER stands for Annual Equivalent Rate. It shows what the interest rate would be if interest was added each year to the account balance (including any interest already earned that year).

Changes to rates

We will give you at least two months’ notice of any change in writing. However, where a change in interest rates is to your advantage we will make it immediately and tell you at the earliest opportunity after the change (e.g. in writing, statement message or publication in our Stores or on our website). 

Payments in and out of your account

How can I pay money into my account?

You can pay money into your account by:

Cash

  • Visiting a Virgin Money Store Link opens in a new window and paying in your cash (note: 18 of our Stores do not accept cash).
  • Visiting a Post Office® and paying in your cash – £5,000 max for large branches and £1,000 at concessions.

Cheque

Please make cheques payable to 'Virgin Money for the account of (insert account holder(s) name(s))’. Please also write your account number on the back of the cheque(s).

Electronic payments

If you are sending money from another bank or building society, you will need to quote the following details:

Faster Payments / BACS (Bankers Automated Clearing Service)

Sort code: 08-60-64
Account number: your eight digit account number

Faster Payments are usually processed within a few hours, but can take up to one business day.

BACS transfers should reach your account within three business days after they are sent.

Please note, if you have a chequebook with your account, the sort code on your chequebook is different to the one on your debit card and you should not use it for other payments on your account. If you need to provide a sort code (e.g. to set up a Direct Debit or for someone to pay money into your account), please quote the one on your debit card – this is the same as the one at the top of your statement.

CHAPS transfer

Sort code: 08-02-65
Account number: 50048407
Reference: your eight digit account number and your name
CHAPS transfers should reach your account the same day they are sent.

International money transfer

Sort code: 40-02-50
Account number: 61333372
Reference: your eight digit account number and your name
BIC number: NRNBGB22XXX
IBAN number: GB07MIDL40025061333372

Other ways to pay money into your account
  • Bank Giro Credit.
  • Sending money from another account with us (subject to the terms and conditions of that account).

How can I withdraw money from my account?

You have instant access to your money with your Virgin Money Debit Card.

  • Make a cash withdrawal in pounds in the UK of up to £500 at a cash machine* or over the counter at over 11,000 Post Office branches nationwide.
  • Take out an additional £100 cashback at the till at participating retailers.
  • Please note that if you have a joint account, the £500 daily cash limit and the £100 cashback limit are shared between both account holders.
  • You can use your card to buy travellers’ cheques or foreign currency up to the balance in your account.

* Charges will apply outside of the UK.

For further details on using your debit card, please see the leaflet below.

Guide to your Virgin Money Debit Card PDF opens in a new window 
(PDF, 1,171KB)

You can also take money out of your account by:

  • Visiting a Virgin Money Store Link opens in a new window (not including our 18 non-cash Stores) and withdrawing cash (£2,000 limit).
  • Cheque (if a chequebook is provided with your account).
  • Standing order or Direct Debit.
  • Sending money within the UK by Faster Payments.
  • Sending money to another account you hold with us (subject to the terms and conditions of that account).
  • Sending money within the UK by CHAPS (Clearing House Automated Payment System). We charge a fee for this service – please see the question ‘What are the interest rates and charges?’ for details.

Remember, the sort code on your new chequebook is different to the one on your debit card – if you need to provide a sort code (e.g. to set up a Direct Debit), please quote the one on your card.

How can I make sure Direct Debits*, standing orders and cheques are paid from my account?

You will need to have cleared funds in your account by 2pm on the day that a Direct Debit, standing order or cheque is due to be taken from your account, so that items can be paid.

If we are unable to make a payment due to lack of funds in your account, we will refuse this payment and the item will be returned unpaid.

For details of the charges that apply to your account please see the question 'What are the interest rates and charges?' of this help section or refer to your terms and conditions.

*Direct Debit is UK only service.

How long do cheques take to clear?

There are some changes being made to the way we and other banks process cheques from October 2017. You can find out more below.

What is changing and when?

Instead of exchanging physical cheques, banks will exchange digital images of cheques, meaning the whole process will speed up. The changes will take about a year to roll out and implement across all UK banks.

What does this mean for me?

When writing a cheque to someone, the money may come out of your account a lot quicker than it does today. Therefore it is important to ensure that the funds are available in your account on the day the cheque is written. Similarly, when paying a cheque into your account from someone else, the funds may be available in your account a lot quicker. The exact number of days taken to clear a cheque will vary from bank to bank. The quickest will be two days, with the longest being six days.

How will I know if a cheque has cleared?

You’ll be able to get confirmation as to whether your cheque has cleared in the same way as you do today, by using our online service, checking at a cashpoint or by calling us on the best number below;

  • Current Accounts – 0345 600 6103
  • Savings Account (postal & store) – 0345 600 7301
  • Savings Accounts (online) – 0345 608 1604
  • Mortgage Accounts – 0345 602 8301

Want to find out more?

You can find out more about the changes in this leaflet  PDF opens in a new window (PDF, 1.74MB)

Using your Debit Card

Where can I use my debit card?

Your Virgin Money Debit Card offers a convenient way to access the money in your current account.

  • Make a debit card payment in pounds when shopping online, on the high street, over the phone and by post.
  • Free cash withdrawal’s in pounds in the UK of up to £500 at a cash machine* or over the counter at over 11,000 Post Office branches nationwide.
  • Take out an additional £100 cashback at the till at participating retailers.
  • Please note that if you have a joint account, the £500 daily cash limit and the £100 cashback limit are shared between both account holders.
  • You can use your card to buy travellers’ cheques or foreign currency up to the balance in your account.

For further details on using your debit card, please see the leaflet below.

Guide to your Virgin Money Debit Card PDF opens in a new window 
(PDF, 1,171KB)

* Charges will apply outside of the UK.

What if my debit card is lost or stolen?

If you think your card has been lost or stolen, you must tell us as soon as possible by calling us at any time on 0800 012 1512 (free of charge) (+44 191 279 4604 if calling from abroad).

Can I use my debit card outside of the UK?

Please tell us before you travel abroad to help avoid any issues with using your card while you are away – you can call us on 0345 600 6103* or visit your local Virgin Money Store Link opens in a new window 

You can make debit card payments in a foreign currency or make a cash withdrawal in foreign currency outside the UK, wherever you see the Mastercard logo. Just remember:

  • Outside the UK, we will charge you £1.50 each time you make a cash withdrawal in a foreign currency. Some cash machine operators might also charge you a fee, which they should display to you before you make the cash withdrawal.
  • The exchange rate for overseas transactions is determined by the card provider on the day they receive the transaction (which isn’t always the day you made the transaction). You can check the exchange rate used by visiting www.mastercard.com/global/currencyconversion
  • It is sensible to take other sources of money, not just your debit card.
  • From outside the UK you can call us on +44 191 279 4604* if you need to speak with us.

*We are here from 8am to 8pm Monday to Friday, 8am to 4pm on Saturdays and 10am to 3pm on Sundays. Calls to 03 numbers cost the same as calls to 01 or 02 numbers and they are included in inclusive minutes and discount schemes in the same way. Calls may be monitored and recorded.

Questions about your account

How can I view my account balance?

Your Current Account offers many convenient ways to keep track of your balance and spending. You can find out your balance:

* We are here from 8am to 8pm Monday to Friday, 8am to 4pm on Saturdays and 10am to 3pm on Sundays. Calls to 03 numbers cost the same as calls to 01 or 02 numbers and they are included in inclusive minutes and discount schemes in the same way. Calls may be monitored and recorded.

** You can only view your account online if you are resident in the UK.

What are the charges?

Essential Current Account

We have made every aspect of the Essential Current Account as simple as possible, including our charges. Here is a list of the few things we charge for. All charges will be applied immediately.

The current charges that apply to your account are:
ServiceCharge
Additional paper copy of your statement£10
Cash withdrawal in foreign currency outside the UK£1.50 per transaction
We do not charge if you make a debit card payment in a foreign currency.

Standard same-day transfers (by Faster Payment) are available free of charge.

We also offer some non-standard services such as same day electronic transfer for CHAPS. We will make a reasonable charge for these services but will tell you the amount before we act on your instruction.

Fee Information Document

This document informs you about the fees for using the main services linked to the payment account. It will help you compare these fees with those of other accounts.

Fee Information Document - Essential Current Account  PDF opens in a new window 
(PDF, 122KB)

Virgin Money Current Account (previously opened with Northern Rock)

The charges that apply to your account are:
ServiceChargeWhen is the charge applied?
Arranged overdraft charge (monthly)£10See 'Charging period' below
Unarranged overdraft charge (monthly)£20See 'Charging period' below
Refusing a payment due to lack of funds£10 per item (maximum of three per month)See 'Charging period' below
Monthly Maximum Charge (for the above charges)£50See 'Charging period' below
Debit card purchases in a foreign currencyNo charge 
Cash machine withdrawals in a foreign currency outside the UK£1.50 per transactionStraightaway
Sending money within the UK by CHAPS£30 per transferStraightaway
Additional paper copy of your statement£10Straightaway
Cancelling a chequeNo charge
Copy chequesNo charge
Monthly Cap on unarranged overdraft charges
  • Each current account will set a monthly maximum charge for:
    • Going overdrawn when you have not arranged an overdraft; or
    • Going over/past your arranged overdraft limit (if you have one).
  • This cap covers any:
    • Interest and fees for going over/past your arranged overdraft limit;
    • Fees for each payment your bank allows despite lack of funds; and
    • Fees for each payment your bank refuses due to lack of funds.
Fee Information Document

This document informs you about the fees for using the main services linked to the payment account. It will help you compare these fees with those of other accounts.

Fee Information Document - Virgin Money Current Account PDF opens in a new window 
(PDF, 121KB)

Changes to charges

If we increase any of the charges above we will write to you at least two months before the change.

Charging period

The charging period is the 28th of one month to the 27th of the next.

If you use your arranged overdraft, go into an unarranged overdraft or have any payments refused due to lack of funds we add them up and write to you on the 28th to let you know about the charges, when they will be taken from your account and how much will be taken.

We take the charges from your account on the 21st of the month. If the 21st is a weekend or UK bank holiday, the charges will be taken the next working day.

Our rates and charges leaflets

You can save or print full details of our main charges using the leaflets below:

Current Account overdraft charges and scenarios PDF opens in a new window 
(PDF, 43KB)

Our lending commitments and what we ask of you

Virgin Money adheres to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk

This means that if we provide you with an overdraft facility on your account, we have a responsibility to act fairly. The below document sets out some of our key responsibilities and what we ask of you, to ensure that the relationship works well for both of us.

Standards of Lending Practice - key responsibilities PDF opens in a new window 
(PDF, 46KB)

How can I contact Virgin Money?

If you have any questions and would like to speak to us, please call us on 0345 600 6103* or if you are outside the UK +44 191 279 4604. Or, you can visit your local Virgin Money Store.

If you think your debit card has been lost or stolen, you think it may be misused or someone knows your PIN, you must tell us as soon as possible by calling us at any time on 0800 012 1512 (free of charge) (+44 191 279 4604 if calling from abroad).

You also need to tell us by calling 0345 600 6103* if someone who is not a permitted third party provider knows your card details, password or security information.

*We are here from 8am to 8pm Monday to Friday, 8am to 4pm on Saturdays and 10am to 3pm on Sundays. Calls to 03 numbers cost the same as calls to 01 or 02 numbers and they are included in inclusive minutes and discount schemes in the same way. Calls may be monitored and recorded.

I have a question about my PIN number

I have entered the wrong PIN three times in a shop. How can I unlock it?

  • If you remember your PIN, you can unlock it at any cash machine, simply choose ‘Unlock PIN’.
  • If you can't remember your PIN, you can order a PIN reminder by calling us on 0345 600 6103.*

I have entered the wrong PIN three times at a cash machine. How can I unlock it?

  • You will need to order a PIN reminder by calling us on 0345 600 6103.* Once you have received this then just visit any cash machine and choose ‘Unlock PIN’ to get your card up and running again.

Can I change my PIN?

  • Yes, you can change it at any time at most cash machines. Follow the simple instructions on screen.

*We are here from 8am to 8pm Monday to Friday, 8am to 4pm on Saturdays and 10am to 3pm on Sundays. Calls to 03 numbers cost the same as calls to 01 or 02 numbers and they are included in inclusive minutes and discount schemes in the same way. Calls may be monitored and recorded.

What is the interest rate on my account?

Essential Current Account

Credit interest
(Payable on balances up to £100,000)
Gross1 variable rateAER2
0.75%30.75%3

We pay credit interest monthly and add this to your account on the 27th of each month. 

1 Gross is the rate of interest earned before income tax is deducted. Automatic deduction of tax on interest stopped on 6 April 2016. However, you may be liable to pay income tax on the interest you have earned, depending on your personal circumstances. Please contact HMRC or your applicable tax authority outside of the UK for further information or visit www.gov.uk/government/publications/personal-savings-allowance-factsheetLink opens in a new window

2 AER stands for Annual Equivalent Rate. It shows what the interest rate would be if interest was added each year to the account balance (including any interest already earned that year).

3 Essential Current Accounts opened before 19 September 2016 will continue to pay 1.00% Gross1/AER2 (variable) interest until 28 November 2016, when this will reduce to 0.75% as above.

Virgin Money Current Account (previously opened with Northern Rock)

Please note, this account is closed to new applications.

The current interest rates that apply to your account are:

Credit interest

(Payable on balances of £1 or more)
Gross1 variable rateAER2
0.10%0.10%

We pay credit interest monthly and add this to your account on the 27th of each month. 

1Gross is the rate of interest earned before income tax is deducted. Automatic deduction of tax on interest stopped on 6 April 2016. However, you may be liable to pay income tax on the interest you have earned, depending on your personal circumstances. Please contact HMRC or your applicable tax authority outside of the UK for further information or visit www.gov.uk/government/publications/personal-savings-allowance-factsheetLink opens in a new window

2 AER stands for Annual Equivalent Rate. It shows what the interest rate would be if interest was added each year to the account balance (including any interest already earned that year).

Changes to rates

We will give you at least two months’ notice of any change in writing. However, where a change in interest rates is to your advantage we will make it immediately and tell you at the earliest opportunity after the change (e.g. in writing, statement message or publication in our Stores or on our website). 

EU resident

I have an Essential Current Account and I’m moving outside of the UK but within the EU, can I keep my account?

Yes, we will need to know your new address and talk you through how your account features might be different in the EU.  If you move outside of the EU you will need to close your account.  You can tell us your new address by visiting your local Store, by post, or by completing a change of address form PDF link opens in a new window 

Please send it to us at Virgin Money, Jubilee House, Gosforth, Newcastle Upon Tyne NE3 4PL.