Things to consider when choosing an account

To help you choose the savings accounts that’s right for you, it pays to think about the following things first.

3. How much do you want to save?

We have savings accounts that you can open with as little as £1. We also have accounts which you can open with a larger amount, or that require a regular amount to be put away each month. Some of our accounts might have a limit on the amount you are able to invest and others will allow you to save up to the maximum investment with Virgin Money which is currently £2 million per customer.

4. Are you a business or a charity looking to open an account?

We have savings accounts specifically for businesses and charities.

Which savings account is right for you?

To help you choose a savings account that suits your individual needs, please take a look at the following information about each type of account. This should help you to weigh up your options and choose wisely.

Regular savings accounts

By committing to saving a regular amount each month for a year, you will benefit from a fixed rate of interest throughout the year, plus, you can still access your money should you need to.

With a regular savings account you might want to set up a Standing Order to automatically transfer a set amount of money each month, perhaps from your current account. This way you won’t forget to make the payment, plus you can always increase the amount if you are in a position to do so. This is also available with easy access accounts.

Easy access accounts

Operated online, by post, by telephone or via one of our Stores, these savings accounts are great if you want the flexibility of being able to save as and when you want to.

Notice accounts

If you are happy to provide notice to access your money, (typically around three to four months), then one of our notice savings accounts could be the best option for you. In return for providing notice, you may benefit from a higher rate of interest.

Business and charity accounts

Our Business Reserve account provides no-notice access to your money. Complementing your existing business banking arrangements, it enables you to manage any surplus funds of 10k or more via post so you can maximise the return on any excess capital. Unlike some business accounts, there are no restrictions on the number of withdrawals you can make.

Our Charities account provides no-notice access to your money via post or Main Office and is open to all UK charities registered with the charities commission of England or Wales or the Scottish Charities Register.