Virgin Money

Virgin Money was launched by Sir Richard Branson back in the mid 1990s, starting out in the savings and investments market before slowly expanding into mortgages, credit cards and insurance.

Virgin Money acquired its banking license in 2010 through the acquisition of Church House Trust, although at this time it had no branches. In 2012, it bought itself a high street presence, by acquiring Northern Rock and in 2014 the bank was floated on the London Stock Exchange.

In 2018 Virgin Money was bought by Clydesdale and Yorkshire Banking Group - which owns Clydesdale Bank and Yorkshire Bank.

Virgin money offers a full range of banking and insurance products including: bank accounts, credit cards and travel insurance. Its travel insurance is provided by the Spanish insurer Mapfre.

Virgin Money
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Gold ribbon: first place

Bank accounts

Ranked 11th of 31 providers reviewed.

Customer happiness 58.54%
Customer trust 55.75%
Complaints performance 68.53%
Transparency rating 83.1%
Fairer Finance score
Reviewed Autumn 2021
66%

Credit cards

Ranked 17th of 30 providers reviewed.

Customer happiness 60.43%
Customer trust 54.04%
Complaints performance 68.5%
Transparency rating 59.54%
Fairer Finance score
Reviewed Autumn 2021
61%
Gold ribbon: first place

Life insurance

Ranked 3rd of 26 providers reviewed.

Claims score 95.83%
Complaints performance 80%
Transparency rating 70.14%
Fairer Finance score
Reviewed Autumn 2021
82%

Mortgages

Ranked 14th of 21 providers reviewed.

Customer happiness 48.08%
Customer trust 41.95%
Complaints performance 71.17%
Transparency rating 67.36%
Fairer Finance score
Reviewed Autumn 2021
60%

Savings accounts

Ranked 26th of 46 providers reviewed.

Customer happiness 50.47%
Customer trust 48.34%
Complaints performance 68.5%
Transparency rating 82.2%
Fairer Finance score
Reviewed Autumn 2021
62%

Travel insurance

Ranked 32nd of 36 providers reviewed.

Customer happiness 47.28%
Customer trust 39.65%
Complaints performance 43.36%
Transparency rating 42.36%
Fairer Finance score
Reviewed Autumn 2021
43%

Bank accounts

Basic bank accounts

Virgin Money

M Account

5 stars
Faster Payment limit i £100,000
Annual fee i £0
Maximum cash machine withdrawal per day i £350
Part of FSCS i

Current accounts

Virgin Money

M Plus account

4 stars
Annual fee i £0
Maximum cash machine withdrawal per day i £500
Part of FSCS i
Cash withdrawal fee in UK (own bank) i £0
Card payment fee (£) i £0
App capability? i

Foreign use bank accounts

Virgin Money

M Account (Inside Europe)

5 stars
Foreign cash withdrawal fee i 0%
Foreign cash withdrawal additional charge i £0
Foreign purchases fee i 0%
Is there a limit on free cash withdrawals? i

Virgin Money

Club M Account

5 stars
Foreign cash withdrawal fee i 0%
Foreign cash withdrawal additional charge i £0
Foreign purchases fee i 0%
Is there a limit on free cash withdrawals? i

Virgin Money

M Plus Account

5 stars
Foreign cash withdrawal fee i 0%
Foreign cash withdrawal additional charge i £0
Foreign purchases fee i 0%
Is there a limit on free cash withdrawals? i

Virgin Money

M Account

1 stars
Foreign cash withdrawal fee i 3.75%
Foreign cash withdrawal additional charge i £0
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i

Overdrafts

Virgin Money

M Plus Account

2 stars
Risk based overdraft? i
Arranged overdraft interest free amount i £0
Arranged overdraft interest rate (representative EAR) i 29.90%

Virgin Money

Club M Account

2 stars
Risk based overdraft? i
Arranged overdraft interest free amount i £0
Arranged overdraft interest rate (representative EAR) i 29.90%

Premium bank accounts

Virgin Money

Club M Account

4 stars
Add-ons, cashback and rewards i AIG worldwide travel insurance with winter sports cover for holder and family, Green Flag UK breakdown cover, Assurant mobile and gadget insurance for holder and family
Part of FSCS or international equivalent i

Credit cards

0% balance transfer credit cards

Virgin Money

28 Month Balance Transfer Card

4 stars
Duration of balance transfer offer period i 28 months
Balance transfer fee during promotional period i 1%
Representative APR i 21.90%
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.67%
Risk based? i

Virgin Money

30 Month Balance Transfer Card

3 stars
Duration of balance transfer offer period i 30 months
Balance transfer fee during promotional period i 2.95%
Representative APR i 21.90%
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.67%
Risk based? i

Virgin Money

19 month Balance Transfer and Purchashes All round Card

3 stars
Duration of balance transfer offer period i 19 months
Balance transfer fee during promotional period i 2.90%
Representative APR i 21.90%
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.67%
Risk based? i

Virgin Money

9 Month Balance Transfer and Purchases All Round Card

3 stars
Duration of balance transfer offer period i 9 months
Balance transfer fee during promotional period i 2%
Representative APR i 29.90%
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 2.21%
Risk based? i

Virgin Money

12 Month Balance Transfer and Purchases All Round Card

3 stars
Duration of balance transfer offer period i 12 months
Balance transfer fee during promotional period i 2.90%
Representative APR i 29.90%
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 2.21%
Risk based? i

Virgin Money

16 Month Balance Transfer Card

3 stars
Duration of balance transfer offer period i 16 months
Balance transfer fee during promotional period i 3%
Representative APR i 29.90%
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 2.21%
Risk based? i

Virgin Money

35 Month Balance Transfer Card

3 stars
Duration of balance transfer offer period i 35 months
Balance transfer fee during promotional period i 2.94%
Representative APR i 21.90%
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.67%
Risk based? i

Virgin Money

Travel Card

3 stars
Duration of balance transfer offer period i 9 months
Balance transfer fee during promotional period i 2%
Representative APR i 21.90%
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.67%
Risk based? i

0% purchase credit cards

Virgin Money

19 month Balance Transfer and Purchashes All round Card

4 stars
Duration of purchases offer period i 19 months
Representative APR i 21.90%
Highest APR i 21.90%
Purchase rate during promotional period i 0%
Representative purchase rate i 1.67%
Number of days before interest is charged on purchases i 50 days
Risk based? i

Virgin Money

Travel Card

4 stars
Duration of purchases offer period i 9 months
Representative APR i 21.90%
Highest APR i 21.90%
Purchase rate during promotional period i 0%
Representative purchase rate i 1.67%
Number of days before interest is charged on purchases i 50 days
Risk based? i

Virgin Money

35 Month Balance Transfer Card

3 stars
Duration of purchases offer period i 3 months
Representative APR i 21.90%
Highest APR i 21.90%
Purchase rate during promotional period i 0%
Representative purchase rate i 1.67%
Number of days before interest is charged on purchases i 50 days
Risk based? i

Virgin Money

30 Month Balance Transfer Card

3 stars
Duration of purchases offer period i 3 months
Representative APR i 21.90%
Highest APR i 21.90%
Purchase rate during promotional period i 0%
Representative purchase rate i 1.67%
Number of days before interest is charged on purchases i 50 days
Risk based? i

Virgin Money

28 Month Balance Transfer Card

3 stars
Duration of purchases offer period i 3 months
Representative APR i 21.90%
Highest APR i 21.90%
Purchase rate during promotional period i 0%
Representative purchase rate i 1.67%
Number of days before interest is charged on purchases i 50 days
Risk based? i

Virgin Money

9 Month Balance Transfer and Purchases All Round Card

3 stars
Duration of purchases offer period i 9 months
Representative APR i 29.90%
Highest APR i 29.90%
Purchase rate during promotional period i 0%
Representative purchase rate i 2.21%
Number of days before interest is charged on purchases i 50 days
Risk based? i

Virgin Money

12 Month Balance Transfer and Purchases All Round Card

3 stars
Duration of purchases offer period i 12 months
Representative APR i 29.90%
Highest APR i 29.90%
Purchase rate during promotional period i 0%
Representative purchase rate i 2.21%
Number of days before interest is charged on purchases i 50 days
Risk based? i

Virgin Money

16 Month Balance Transfer Card

2 stars
Duration of purchases offer period i 3 months
Representative APR i 29.90%
Highest APR i 29.90%
Purchase rate during promotional period i 0%
Representative purchase rate i 2.21%
Number of days before interest is charged on purchases i 50 days
Risk based? i

Foreign use credit cards

Virgin Money

9 Month Balance Transfer and Purchases All Round Card

3 stars
Foreign purchase fee i 0%
Foreign withdrawal fee i 3%
Representative APR i 29.90%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 2.21%

Virgin Money

Travel Card

3 stars
Foreign purchase fee i 0%
Foreign withdrawal fee i 3%
Representative APR i 21.90%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.67%

Virgin Money

30 Month Balance Transfer Card

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 5%
Representative APR i 21.90%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.67%

Virgin Money

19 month Balance Transfer and Purchashes All round Card

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 5%
Representative APR i 21.90%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.67%

Virgin Money

28 Month Balance Transfer Card

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 5%
Representative APR i 21.90%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.67%

Virgin Money

12 Month Balance Transfer and Purchases All Round Card

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 5%
Representative APR i 29.90%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 2.21%

Virgin Money

16 Month Balance Transfer Card

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 5%
Representative APR i 29.90%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 2.21%

Virgin Money

35 Month Balance Transfer Card

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 5%
Representative APR i 21.90%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.67%

Money transfer credit cards

Virgin Money

35 Month Balance Transfer Card

5 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 12 months
Money transfer fee during promotional period i 4%
Representative APR i 21.90%
Risk based? i
Representative cash transaction interest rate i 2.08%

Virgin Money

30 Month Balance Transfer Card

5 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 12 months
Money transfer fee during promotional period i 4%
Representative APR i 21.90%
Risk based? i
Representative cash transaction interest rate i 2.08%

Virgin Money

19 month Balance Transfer and Purchashes All round Card

5 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 16 months
Money transfer fee during promotional period i 4%
Representative APR i 21.90%
Risk based? i
Representative cash transaction interest rate i 2.08%

Virgin Money

28 Month Balance Transfer Card

5 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 12 months
Money transfer fee during promotional period i 4%
Representative APR i 21.90%
Risk based? i
Representative cash transaction interest rate i 2.08%

Virgin Money

9 Month Balance Transfer and Purchases All Round Card

4 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 9 months
Money transfer fee during promotional period i 4%
Representative APR i 29.90%
Risk based? i
Representative cash transaction interest rate i 2.21%

Virgin Money

12 Month Balance Transfer and Purchases All Round Card

4 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 12 months
Money transfer fee during promotional period i 4%
Representative APR i 29.90%
Risk based? i
Representative cash transaction interest rate i 2.21%

Virgin Money

16 Month Balance Transfer Card

4 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 12 months
Money transfer fee during promotional period i 4%
Representative APR i 29.90%
Risk based? i
Representative cash transaction interest rate i 2.21%

Virgin Money

Travel Card

4 stars
Money transfer rate during promotional period i 0%
Duration of money transfer offer period i 9 months
Money transfer fee during promotional period i 4%
Representative APR i 21.90%
Risk based? i
Representative cash transaction interest rate i 2.08%