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Virgin Money Launches ‘Fred The Red Young Saver’ Children’s Account

24/10/2016

  • New children's savings account launched under Virgin Money's partnership with Manchester United
  • 'Fred the Red Young Saver' offers an attractive interest rate of 1.75% annual gross1/AER2
  • Customers also benefit from a range of Manchester United rewards

Virgin Money has launched a new children’s savings account under its partnership with Manchester United, offering an attractive interest rate, easy access to savings and a range of Manchester United rewards for both the child and the account trustee.

Fred the red holding up a cup on the football pitch
Fred the red kneeling on the pitch with a cup

The Fred the Red Young Saver account, which is named after the popular Red Devils mascot Fred the Red, offers savers an attractive interest rate of 1.75% annual gross1AER2 variable. Accounts can be opened with anything from £1 up to the maximum balance of £25,000, and are available through all Virgin Money stores.

Children opening a Fred the Red Young Saver account will also receive a free official Manchester United membership pack, which includes Manchester United merchandise, newsletters, priority access to match tickets and a range of club discounts.

Account trustees will automatically benefit from the "United Rewards" scheme, which each month offers customers the chance to win a range of prizes including matchday tickets for the Theatre of Dreams, signed Manchester United replica shirts, hospitality tickets to enjoy the game in style and a range of other exciting prizes. The more customers save, the better their chances of winning.

Rajesh Ahuja, Savings Director at Virgin Money said: "Getting into the habit of saving regularly at an early age will be valuable for later in life, even with small amounts. Our new Fred the Red Young Saver account offers a competitive interest rate, easy access to savings and the added benefit of Manchester United goodies and rewards, making it a great choice for young Red Devils fans."

ENDS


Media Contacts:
Virgin Money Press Office
0191 279 4676
press.office@virginmoney.com

NOTES TO EDITORS

Virgin Money is the Official Retail Financial Services Partner of Manchester United in the UK.

Product Details

TermIssueAnnual gross1/AER2
Easy AccessManchester United Fred the Red Young Saver1.75%

1Gross P.A. is the rate of interest without the deduction of tax. Please note that the automatic deduction of tax on savings interest for non-ISAs ceased with effect from 6 April 2016.

2AER stands for Annual Equivalent Rate and shows what the interest rate would be when interest is paid and added to the capital balance each year.

Accounts will receive 10 entries per month for the United Rewards prize draw, plus 1 additional entry per £50 balance each month, based on the average balance in the month.

Details of Manchester United membership packs can be found at
http://www.manutd.com/pix/Emails/Ticketing/2016/September/Pack_Prices_Benefits2.pdf

About Virgin Money

  • Virgin Money offers savings, mortgages, credit cards, current accounts, currency services, pensions, investments and protection products to over 3 million customers across the UK.
  • Virgin Money’s business ambition is to make “everyone better off” – this philosophy underpins our approach to business by offering good value to customers, treating employees well, making a positive contribution to society and delivering a profit to shareholders.
  • More than 11,500 charities have registered with Virgin Money Giving and, by the end of June 2016, over £475 million had been raised for charity through the service since its launch in 2009, resulting in an estimated £15 million more raised for charity because of its not-for-profit model.

About Manchester United
Manchester United is one of the most popular and successful sports teams in the world, playing one of the most popular spectator sports on Earth. Through our 138-year heritage we have won 64 trophies, enabling us to develop the world’s leading sports brand and a global community of 659 million followers. Our large, passionate community provides Manchester United with a worldwide platform to generate significant revenue from multiple sources, including sponsorship, merchandising, product licensing, new media & mobile, broadcasting and match day.

Virgin Money Holdings (UK) plc - Registered in England and Wales (Company No. 03087587). Registered Office: Jubilee House, Gosforth, Newcastle upon Tyne NE3 4PL. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.