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Interest rate change

The Bank of England has increased the base rate with effect from 02/08/2018. The rate increased from 0.50% to 0.75%.

To find out more about this change to the base rate and how it may affect your savings or current account, please take a look at the questions and answers below.

Savings questions and answers

I have a tracker savings account with Virgin Money. When will my interest rate change?

If you hold one of the following savings products with us then your rate will change by 0.25% gross on 01/09/2018.

  • Branch Tracker (a matured Regular Saver)
  • Base Rate Tracker (a matured Fixed Rate Access Bond or Fixed Rate Access ISA)

We will write to you to let you know what your new rate is as soon as possible. However your rate will change on 01/09/2018 regardless of when you receive your communication from us.

Will you write to me to confirm my new interest rate?

Following the Bank of England base rate change, we are changing the interest rate on a number of our variable rate savings accounts. If your rate is changing we will let you know what your new rate is and the date it is effective from. We pride ourselves on the competitive pricing we offer customers, and that position will not change following the Bank of England’s announcement.

We will be writing to all customers whose rates are being increased as soon as possible, it may be that your rate is increased before you receive a letter from us.

Current account questions and answers

Call charges and information

03 numbersSame as calls to 01 or 02 numbers and they are included in inclusive minutes and discount schemes in the same way.
084 numbersMaximum of 7p per minute, plus your phone company's access charge.
087 numbersMaximum of 13p per minute, plus your phone company's access charge.
0800 numbersFree from UK landlines and personal mobile phones.

Calls may be recorded for training and quality purposes.