Account nameClub M Account
Earn 25% cashback for 60 days on supermarket and fuel spend when using a Virgin Money debit card, up to a maximum amount of £160.
ProviderVirgin Money
Account fee£14.5 per month
ATM withdrawal limit£500
Debit networkMastercard
Card typeCash / Debit
Minimum eligibility age18 Years
Mininum operating balance£0.01
Minimum opening balance£0.01
Direct debits
Current account switch guarantee
Cheque Book

Virgin Money was founded by Richard Branson in 1995, and in 2019, it merged into Clydesdale Bank. The bank offers a wide range of financial products, including current accounts.

This review looks at its Club M current account in detail.

What is the Virgin Money Club M current account?

The Virgin Money Club M current account offers everything you’d expect from a bank account, plus a lot more. In return for a monthly fee of £14.50, you’ll benefit from worldwide travel insurance, family mobile and gadget insurance and UK breakdown cover, plus no fees on spending abroad.

The account can be opened on an individual or joint basis and can be managed via the app and online.

How does it work?

The Virgin Money Club M current account offers the following key features:

  • Worldwide family multi-trip travel insurance. Including winter sports, golf and weddings cover as well as 24-hour access to a doctor at home or abroad and a concierge service.
  • Worldwide family mobile and gadget insurance. Covering loss, theft and accidental damage.
  • UK breakdown cover. Vehicle rescue day or night, whether you’re the driver or passenger.
  • Interest paid on balances. Earn 2.02% AER (variable) on balances up to £1,000.
  • Linked savings account. Paying an interest rate of 1.00% AER (variable) on balances up to £25,000, and 0.50% AER (variable) on balances over this.
  • No foreign transaction fees. You won’t be charged for spending on your card or withdrawing cash abroad.
  • Arranged overdraft available. You can apply for an overdraft if you need it.
  • Earn cashback. Sign up in the app and you’ll earn cashback when you spend with participating retailers or set up a direct debit with them. Transfer the cash back into your account or trade it up for e-gift cards to be used at selected retailers.

Who is it for?

To qualify for the Virgin Money Club M account, you’ll need to be a UK resident and at least 18 years old. Thanks to its range of perks, the account is most likely to suit families who regularly travel.

What are the benefits?

Provided you’re happy to pay a £14.50 monthly fee, there are stacks of benefits with this account. As well as earning interest on the account and being able to earn cashback, you’ll also be able to take advantage of a range of insurance policies for you and your family and benefit from fee-free card transactions abroad.

How to apply

You can apply for the Virgin Club M current account online. You’ll need to fill in a few personal details, including the following:

  • Your name and address
  • Your date of birth
  • Your job
  • Your mobile number
  • Information about your income and expenditures
  • Details of the gadgets and vehicle you want to insure
  • Medical history details for you and anyone else you want to be covered by travel insurance

You may also need to provide proof of ID such as a UK passport or driving licence and proof of address such as a recent bank statement or utility bill.

Is it safe?

Yes, Virgin Money is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA. This means eligible deposits will be protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person (up to £170,000 for joint accounts).

Pros and cons of the Virgin Money Club M current account


  • Range of insurance policies included with the account
  • Interest paid on balances
  • Linked savings account
  • Earn cashback at selected retailers
  • No fees for using your card abroad
  • FSCS protection
  • Arranged overdraft available


  • Monthly fee of £14.50
  • Interest charged on overdrafts
  • Interest only paid on balances up to £1,000
  • Breakdown cover only applies in the UK

Our verdict: Is the Club M account from Virgin Money worth it?

This current account from Virgin Money could be a great option for families who regularly travel abroad, thanks to the wide range of benefits on offer. Not only will you get worldwide travel insurance and gadget insurance for your whole family, but there are also no fees for using your debit card abroad. On top of that, you’ll also earn interest on your balance and be able to earn cashback at certain retailers.

However, it’s important to check that you do not already have travel, gadget or breakdown cover elsewhere. For example, you might have gadget insurance included in your home insurance policy. You might even want to check whether you can find these insurance policies for less than the annual cost of the account fee (£174 in this case) to be sure you’re getting good value for money.

Make sure you check for exclusions too as well as any other similar accounts out there – for example, the Nationwide FlexPlus account offers similar benefits for a fee of £13 a month.

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