Virgin Money: 2.02% interest rate account available to British savers – how to apply | Personal Finance | Finance
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Virgin Money is becoming a more familiar fixture on Britain’s high streets, with many choosing the provider each year for their banking needs. Now one of the largest banking providers in the UK, the savings options offered by Virgin Money are likely to entice Britons. This is particularly the case given the poor record for interest rates across the last 18 months as a result of the pandemic.
With the Bank of England seemingly unmoved for a while on increasing its base rate, some savers may be feeling pessimistic.
But for those who are still hoping to grow their cash, a number of potentially suitable options remain.
One of these choices is offered by Virgin Money through its increasingly popular M Plus Account.
Virgin Money has described this as the account which “keeps on giving”, and with its attractive highlights, it is easy to see why.
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Aside from the interest rate, though, there are also a number of other benefits which come with being an M Plus Account holder.
Subject to status, Britons can secure an arranged overdraft which provides a valuable safety net in more challenging financial times.
In addition, there is no monthly fee to worry about when it comes to this account, nor is there a fee to pay when using a card abroad.
Virgin Money also provides its savers with a contactless debit card which is free to use at home and abroad.
For those switching, however, there is also an attractive gift, worth just under £138.
Savers can expect to receive a free luxury 12 bottle case of wine from Virgin Wines delivered straight to their door.
And the bank is also offering a £50 donation to a charity of an individual’s choice – as long as it is registered with Virgin Money Giving.
To qualify for the free wine case and the charity donation, Britons can apply online for the M Plus Account.
They will then need to complete a full bank account switch via the official Current Account Switch Service.
Downloading and registering for the Virgin Money banking app is the next step individuals will need to take.
After this, they will need to transfer or set up at least two Direct Debits to their new account.
These must not be cancelled before Virgin Money sends out an official offer code.
The M Plus Saver must finally be credited with £1,000, which must be kept in the account at least until the offer code is sent out.
The offer is only available in the UK, and savers must be 18 or over to benefit.
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