Virgin Money customers alongside those thinking of switching will need to act by today if they wish to take advantage of the bank’s incentives. As of midnight tonight, Virgin Money will be withdrawing its Brighter Money Bundles deal, which has enticed many customers over the last few months. The package was first launched in November 2020 in an effort to reward both new and existing customers.
Savers must also deposit at least £1,000 into a linked savings account within the first 31 days of the account opening.
The free wine deal which ends tonight is also available to existing customers, through the ‘Exclusive Rewards’ area of the Virgin Money app.
But perhaps the greatest incentive is a current account offering an interest rate of 2.02 percent – particularly favourable in the current climate.
The bank has explained this interest rate is payable monthly, on balances up to £1,000 – helping Britons in their money saving journey.
In addition, there is no monthly fee to worry about, and Virgin Money has pledged not to charge people for using their card abroad.
The linked savings account on the Virgin Money current account, offers 0.50 percent AER rate, another attractive interest rate in the current climate.
This rate is offered up to April 26, 2021, but afterwards will change to 0.35 percent AER, with interest paid quarterly.
Martin Lewis, Money Saving Expert, urged Britons to act fast if they wish to secure the deal when commenting on his weekly Money Show on ITV.
He said: “Virgin Money is offering a free £180 worth of wine – this is its estimated price as you can’t buy these 15 bottles of wine elsewhere, so you have to sort of trust it.
“You can also get a two percent interest rate on up to £1,000 saved in it, so it’s a good week to choose.
“To get this deal, you need to use their switching service which takes seven working days. All standing orders and direct debits are moved for you, your old account is cancelled and any payments which go to it are automatically transferred.
“For most people these days, switching bank is easy and hassle free. Do check the eligibility criteria for this account though. With Virgin you have to save £1,000 in a linked savings account, which is still a best buy anyway.”
Martin Lewis is the Founder and Chair of MoneySavingExpert.com. To join the 13 million people who get his free Money Tips weekly email, go to www.moneysavingexpert.com/latesttip