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
20%
Review Score
This figure is an average of the reviews score, taken from customer reviews and the overall rating of the bank.
37%
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

Paul Mason
September 13, 2021

“Had my bank closed for no apparent reason (2 month notice unlike some of the poor buggers whose accounts are frozen)”

Had my bank closed for no apparent reason (2 month notice unlike some of the poor buggers whose accounts are frozen). However, if they fixed their buggy app that where you have payments disappearing and re-appearing more than Paul Daniels then these things may not happen. Not everybody is guilty until proven innocent. I live in an area where Covid 19 is now back on the rise and I myself am a vulnerable person so for me, it is brief visits to do business only vaccinated or not is irrelevant, I have elders to look after that are also vulnerable. Banks are now panicking over transactions and you may be seen has a drug mule or funding terrorism. Stupid rules by the regulators that have gone too far for the normal everyday person. Trying to telephone VM is quite non existent and there appears to be more of them on social media (oh yes let's pass on our details on social media should we?).. My advice… LOOK ELSEWHERE!!

One person found this helpful