Virgin Money current account review

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Virgin Money is one of the newer UK banks, occupying a space between the traditional high street banks and digital-only challengers. It has developed a comprehensive current account offering, which includes interest on your balance and free overseas card use. We’ve rounded up its benefits and drawbacks, so you can find out more about whether this current account is what you’re looking for.

Compare Virgin Money’s current accounts

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Finder Score	Account fees	Funding requirement	Interest (AER)	Arranged overdraft	Incentive	Representative example
Not yet rated Virgin Money M Account Cashback	Not yet rated	£0	No minimum funding requirement	0% AER	N/A	More info Compare product selection Compare	loading
8.4Great Virgin Money M Plus Account Cashback	8.4Great	£0	No minimum funding requirement	1% AER	19.9% EAR variable	Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 19.9% EAR variable.	More info Compare product selection Compare	loading
8.8Great Virgin Money Club M Account Cashback	8.8Great	£14 per month	No minimum funding requirement	1% AER	19.9% EAR variable	Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 19.9% EAR variable. Account fee of £14 per month.	More info Compare product selection Compare	loading
Not yet rated Virgin Money M Plus Account (16/17 yrs) Cashback	Not yet rated	£0	No minimum funding requirement	1% AER		More info Compare product selection Compare	loading

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To make comparing even easier we came up with the Finder Score. Fees, features and customer service across 20+ of the most popular banks are all weighted and scaled to produce a score out of 10. The higher the score the better the account – simple.

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What types of bank account does Virgin Money offer?

Virgin Money has been around since 1995 (when it was know as Virgin Direct) and is now part of a wider banking group that includes Clydesdale Bank and Yorkshire Bank.

Virgin Money started out specialising in savings accounts, ISAs and mortgages, but it now also offers a basic bank account, a packaged account and a full personal current account, the latter of which we focus on here.

The packaged account, Club M, offers travel insurance, roadside breakdown cover and mobile phone insurance for a monthly fee. You can learn more about its features in our review.

The benefits of banking with a Virgin Money current account

• No monthly fees. There are no charges for having this account.
• Managed digitally. You can view and manage your account both online and through a mobile banking app.
• Secure sign-in. Use your face, fingerprint or passcode to log in.
• Contactless debit card. It’s free to make purchases in the UK and abroad, and free to withdraw money at ATMs in the UK and overseas.
• Spending categorisation. View and sort your daily spending by category.
• Spending pots. Create savings pots to set money aside for any financial goals or luxury items you’re saving up for.
• It pays interest. You can earn interest, paid monthly, on current account balances of up to £1,000.
• Linked savings account. You’ll benefit from a free linked saver account to earn even more interest.
• Overdraft available. You have the option to apply for an arranged overdraft.
• Telephone banking. Lines are open 7am-9pm Monday to Saturday and 10am-5pm on Sunday.
• Access to Virgin Money “stores” on the high street. These are more like lounges rather than bank branches – and there aren’t many of them around. But you can enjoy a comfy seat, a free drink and some free Wi-Fi, as well as talk to in-store staff about your banking products (although notably, you can’t carry out physical banking transactions in all stores).

Can I pay cash and cheques into a Virgin Money current account?

Yes you can, although not at all of its high street stores (use Virgin Money’s store finder to check). If you can’t get to a store that does let you pay in cash, you can instead head to your local Post Office, where you can pay money into your Virgin Money current account for free.

For cheques, you can pay in those worth up to £1,000 via your banking app, where you can deposit it by taking a photo of it. Once you’re logged in, go to “More”, select ‘Account Services’, then ‘Deposit a cheque’ and follow the on-screen instructions. Alternatively, you can post your cheque to Virgin Money or pay the cheque in at your local Post Office using a paying in slip.

Hands-on test: I tried out Virgin Money’s current account

"I have tried several mobile banking apps and Virgin Money’s is my least favourite. I find that the app often crashes or cuts your journey off. Even when I was trying to take out a new product, I kept receiving an error message. When I phoned and spoke to customer service they were helpful, but I would have preferred to have been able to complete the transaction on the app.

One positive with the Virgin Money account is earning cashback. Although, as this is quite specific to which offers are available at the time, the cashback I’ve earned hasn’t been significant."

Kate Steere

Editor

How can I open a current account with Virgin Money?

To open one of these current accounts, Virgin Money says:

• You must be aged over 18
• You should have a reasonably good credit history
• You can apply online or over the phone
• You’ll need to supply your name and address
• You’ll need a form of ID such as a passport or driving licence

What does the Virgin Money app look like?

Does Virgin Money offer any promotions, discounts or refer-a-friend offers?

Virgin Money doesn’t offer anything at the moment, though you’re able to join the Virgin Red loyalty programme and earn points on your spending. You can also earn points if you refer a friend to Virgin Red. Virgin Money has offered switching deals in the past and you can read our guide to see when they’re available or compare others in the market.

Does Virgin Money offer joint accounts?

Yes, Virgin Money offers joint accounts. They can be opened online by 2 people.

Does Virgin Money offer premium/packaged or premier accounts?

Yes, Virgin Money has a Club M current account. It costs £12.50 a month and comes with travel insurance, mobile and gadget insurance and breakdown cover. You can see how it compares to other packaged accounts in our guide.

How safe is a Virgin Money current account?

Virgin Money is a fully licensed UK bank, which means that as well as being regulated by the PRA and FCA, any customer deposits up to £120,000 are protected by the Financial Services Compensation Scheme (FSCS).

What do customers say about Virgin Money?

77% of customers we surveyed in 2026 would recommend Virgin Money to a friend.

It offers a functional banking experience with some notable perks, such as rewarding linked savings accounts and a popular monthly subscription model for insurance.

However, customer sentiment is quite mixed. While some praise the helpful staff and easy-to-use app, others highlight rapidly declining interest rates and report highly frustrating customer service experiences. For many, it serves as an adequate account, but inconsistency in support holds it back from top marks.

AI-generated summary from the text of customer reviews on Finder.

Pros and cons of a Virgin Money current account

Our verdict: Is Virgin Money a good bank?

Virgin Money has a really decent current account offering. It’s one of the few current accounts to pay any notable interest (albeit only on balances of up to £1,000) as well as offer fee-free card spending and ATM withdrawals both in the UK and abroad.

The stores, which act more as lounges, are also a nice touch (if there’s one near you). You can kick back with a free magazine or cuppa, or even meet up with a guest there. But it’s not a traditional bank branch – so if you’re looking for a big branch network option, where you can cary out any transaction, one of the bigger high street players might be better for you.

That said, you can still use online banking, mobile banking, telephone banking and Post Office counter services with a Virgin Money current account, so there’s still plenty of ways to manage your finances. The spending categorisation features and savings pots should also help with your day-day-day budgeting.

If Virgin Money’s current accounts are not for you, you can also compare other current accounts here.

Written by

Michelle Stevens

Deputy editor

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Michelle Stevens is a deputy editor at Finder, specialising in banking, credit, loans and mortgages. She has a journalism degree from the University of Sheffield and has been a journalist for 15 years, writing on topics including fintech, payment systems and retail. In her spare time, Michelle likes to travel, explore new foodie experiences and attempt to improve her own culinary skills. See full bio

Michelle's expertise

Michelle has written 69 Finder guides across topics including:

• Banking
• Mortgages
• Credit
• Fintech
• Payments
• Loans

Co-written by

Jason Loewenthal

Senior writer

Jason is a writer and editor. He worked as a senior subeditor for Finder for 5 years and in that time became familiar with a wide range of financial products and services. Before that, he worked for Australian Associated Press. He has a BA from Macquarie University in Australia. Jason loves to help other people find new ways to save money. See full bio