Virgin Money children’s bank account review

We explore the children’s accounts on offer from Virgin Money.

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Rachel Wait

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Must read: Virgin Money no longer offers children's account

But don’t panic – you can compare other bank accounts for children here!
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As of October 2025, Virgin Money is not currently offering children’s accounts.

Getting your children into the savings habit from an early age can help teach them the value of money and prepare them for adult life. We take a closer look at what Virgin Money has to offer so you can decide if it’s right for your child, .

What type of child accounts does Virgin Money offer?

Virgin Money currently offers 2 savings accounts designed for children aged 0 to 16. Savings accounts for children can enable them to start putting money aside for a rainy day or a particular treat, while also earning interest.

The accounts available include the following:

  • Headstart notice account. This account is designed for adults who want to put money aside for a child’s future. The account must be operated in trust by a parent on behalf of a child. You can open the account with as little as £1 and top up funds as and when you like, but you will need to give 30 days’ notice before money can be withdrawn.
  • Jumpstart easy access account. This account can be operated by the child if they are over the age of 11. They can also have their own debit card to use in shops and ATMs and there are no fees for using the card in the UK or abroad. If the child is younger than 11, the account can be operated by their parent or other responsible adult. The account can be opened with as little as £1 and the more that is saved into the account, the higher the rate of interest you’ll receive. There is no notice period to make a withdrawal from the account.

The main gap in Virgin Money’s child accounts offer is the lack of a current account. However, while the Jumpstart account is described as a savings account, it does offer a debit card for children over the age of 11, which means it works in a similar way to a current account. If your child is younger than 11, you might want to look for prepaid cards for kids instead – you can compare them on this page.

How to open a child account with Virgin Money

Virgin Money’s child accounts are both offline accounts, which means they must be opened in a Virgin Money branch.

The Headstart account must be opened and operated by an adult on behalf of the child, although the account will be opened in the child’s name.

The Jumpstart account must also be opened and operated by a parent, guardian or other responsible adult if the child is under the age of 11. If the child is over 11, the child can open and operate the account in their name, so long as a parent or guardian agrees.

Documents needed to open an account

To open either savings account, you as the parent or guardian will need to bring with you an ID document and proof of address as well as a child’s ID document such as a current passport or birth certificate. The bank might also need a document to confirm the child’s address if they do not live with you.

What does the Virgin Money app look like?

Virgin Money app
Virgin Money app
Virgin Money app

Is Virgin Money safe?

Yes, Virgin Money is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA. Eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person.

Pros and cons of Virgin Money child accounts

Pros

  • No monthly fees
  • Interest payable on both accounts
  • Accounts can be opened with just £1
  • FSCS protection
  • No foreign transaction fees

Cons

  • Accounts can only be opened in branch
  • No children's current accounts to choose from
  • Better interest rates available elsewhere

Our verdict: Is a child’s account from Virgin Money worth it?

If you’re happy to mostly bank in branch and you’re looking for a savings account for your child, Virgin Money’s offering is worth considering. You can choose from either a notice account that you, as a parent, will need to manage. Or you can opt for an easy access account that gives your child a little more financial independence (if they are older than 11) and won’t charge any fees for using the debit card abroad. However, if you’re after a full current account for your child that offers more in the way of features, you’ll need to look elsewhere.

Frequently asked questions

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Rachel Wait is a freelance journalist and has been writing about personal finance for more than a decade, covering everything from insurance to mortgages. She has written for a range of personal finance websites and national newspapers, including The Observer, The Mail on Sunday, The Sun and the Evening Standard. Rachel is a keen baker in her spare time. See full bio

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