Virgin Money

Virgin Money

Virgin Money is a bank and financial services company based in the UK. Originally launched as Virgin Direct Personal Financial Services in 1995, its second incarnation Virgin One followed in 1997. Virgin Money launched as a price comparison website in 2000; the two companies were merged in 2002 to form the contemporary version of the company.

Reviews Rating
28%
Review Score
This figure is an average of the reviews score, taken from customer reviews and the overall rating of the bank.
43%
BankRank® Score
This figure is the average of the bank’s total sentiment score and the review scores.
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Overview

First Glance

Virgin Money is a bank and financial services company based in the UK. Originally launched as Virgin Direct Personal Financial Services in 1995, its second incarnation Virgin One followed in 1997. Virgin Money launched as a price comparison website in 2000; the two companies were merged in 2002 to form the contemporary version of the company.

Features

Contact Info

Address
30 Haymarket, London SW1Y 4EX, UK
Phone
020 7499 3563

About Virgin Money

Virgin Money is a bank and financial services company based in the UK. Originally launched as Virgin Direct Personal Financial Services in 1995, its second incarnation Virgin One followed in 1997. Virgin Money launched as a price comparison website in 2000; the two companies were merged in 2002 to form the contemporary version of the company.

Virgin first attempted to buy Northern Rock in 2007 ahead of its nationalisation; when the bid failed, Virgin sought its own banking licence and became a full retail bank in 2010 after acquiring Church House Trust.

Virgin was greatly helped in the expansion of its product portfolio by the purchase of Northern Rock after previously being focused on credit cards and insurance. The first Virgin-branded current accounts were launched in Northern Ireland and Scotland in 2014, and the rest of the UK in 2015.

Virgin eventually completed the purchase of Northern Rock in 2012. In May 2018 CYBG announced its intention to acquire Virgin Money, and a takeover was agreed. CYBG will license the Virgin Money brand and CYBG customers will be moved over to Virgin over the next three years. The acquisition was completed on 15 October and shares in Virgin Money Holdings were deleted from the LSE.

Richard Branson has indicated that he would like to open branches in train stations in the future. The bank also has several ‘concept lounges’, with the first opened in Norwich in 2011.

Virgin Money Products and Services

Virgin offers customers a comprehensive portfolio of banking and investment products, including:

  • Mortgages
  • Current accounts
  • Savings accounts
  • Credit cards
  • Investments
  • Insurance
  • Pensions
  • Travel money

Virgin also offers a range of business savings accounts, aimed at helping businesses to grow. The instant access savings account pays a lower rate of interest, but customers can access their savings at a moment’s notice if needed. For customers who don’t need this feature but would like to earn more interest, one and two-year fixed rate accounts are available.

Security at Virgin Money Bank

Virgin has extensive online security policies aimed at preventing fraud, and information for customers on how they can help is available online.

Virgin Money is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority.

Virgin Money Contact Details

30-31 Haymarket
London
SW1Y 4EX

Telephone: 020 7499 3563

Email: [email protected]

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Virgin Money Reviews

James Sinclair
June 24, 2022

“Was a loyal customer for over 30 years, now with another bank due to shocking Customer service”

Was a loyal customer for over 30 years, now with another bank due to shocking Customer service. Recently engaged builders to undertake roof repair. Work carried out satisfactory and tried to pay via online services. Builders bank details acknowledged Customer service. Recently engaged builders to undertake roof repair. Work carried out satisfactory and tried to pay via online services. Builders bank details recognised and accepted by online process however payment frozen by Fraud team. Contacted customer services after waiting almost an hour on hold to be told my account was frozen and payment would not be made to builders as I hadn’t undertaken due diligence on the company. Was told by fraud representative I should have checked companies house even though the work has been carried out to my satisfaction. When told it was my money and I could pay whoever I wanted they replied they still would not pay invoice. Note I have not been overdrawn in over 20 years and normally have over £15k in account. The builders invoice was for £2k. Made compliant and told it would take 8 weeks. I’ve now changed banks!!!

One person found this helpful
Edward Jewitt
May 31, 2022

“As an 80 year old I Visited my Virgin Branch at Castleford to reinvest my Isa only to be told you can only do that on line now”

As an 80 year old I Visited my Virgin Branch at Castleford to reinvest my Isa only to be told you can only do that on line now. Subsequently after returning home I tried to Transfer my Isa on line for a better percentage deal, i could not access the website as my customer code was continually rejected, even though i have used the same code for a number of years.. I was told to ring the help Number if there was a problem with my customer code. After ringing the help line and holding for over 1 hour there was a continual message we have a high number of calls and we will get to you shortly. I GAVE UP, ITS A TOTAL WASTE OF TIME. BRING BACK THE PERSONAL HELP OFFERED IN THE (YORKSHIRE BANK PONTEFRACT) BRANCH IN THE PAST. Perhaps i should look for a more efficient bank.

One person found this helpful
Stephen hattersley
May 5, 2022

“Having had a bank account /credit card and mortgage accounts following a transfer from Yorkshire Bank, i am now in the process of closing all these accounts”

Having had a bank account /credit card and mortgage accounts following a transfer from Yorkshire Bank, i am now in the process of closing all these accounts. The reason, they suddenly and without reason decided to refuse my credit card even though ive had it for 20+years without fault. Theif explanation…we just make a decision based on type of accounts at a given time. Never missed a payment for anything not ever… shocking behaviour by virgin money. But i can move my money based on service by the banks…i will never ever use Virgin ever again….the customer service department was also
Pointless….. do yourself a favour stay well clear of these idiots

One person found this helpful
kurt leary
November 30, 2021

“almost impossible to raise a dispute, almost impossible to speak to anyone”

almost impossible to raise a dispute, almost impossible to speak to anyone.

5 persons found this helpful
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Virgin Money Accounts

M Plus Account
M Plus Account
Personal
Free
Monthly Fee
0.35%, 2.02%
Interest Rate
Yes
Overdraft
Overdraft Rate
Club M Account
Club M Account
Personal
£14.50
Monthly Fee
0.50%, 2.02%
Interest Rate
Overdraft
Overdraft Rate
M Account
M Account
Personal
Monthly Fee
0.50%
Interest Rate
Overdraft
Overdraft Rate
Private Current Account
Private Current Account
Private
£25
Monthly Fee
Interest Rate
Overdraft
Overdraft Rate
Easy Access Cash ISA Exclusive
Easy Access Cash ISA Exclusive
Savings
Monthly Fee
0.35%
Interest Rate
Overdraft
Overdraft Rate
1 Year Fixed Rate E-Bond
1 Year Fixed Rate E-Bond
Savings
Monthly Fee
0.35%
Interest Rate
Overdraft
Overdraft Rate
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