Virgin Money offers ‘interesting’ 2% interest and £150 gift to savers – act now

Virgin Money savers will be able to clinch the deal just for making the switch to the bank, although they should check the qualifying details. The offer from the popular provider is one of the best currently available to switching savers as competition increases between banks. Aside from cash offers now more commonly available, Britons will get a chance to secure one of two enticing prizes with the provider, worth £150.

Again, once the account is opened and criteria met, people can expect to receive their gift card within a 14 day time period.

However, aside from the switching incentive, there is also an enticing interest rate to provide further rewards for Britons.

Eligible savers will be able to secure a 2.02 percent interest rate which is paid monthly on their M Plus Account. The interest rate is currently available on balances saved up to £1,000.

When a person opens an M Plus Account, they will also get a linked M Plus Saver as well.

At least two Direct Debits will also need to be set up in this circumstance, and if these have not yet been established, they can set these up when the account is opened.

Savers should then download and log in to the Virgin Money mobile banking app – and people can do so as soon as the account is open.

Finally, they will need to pay in at least £1,000 into their linked M Plus Saver and keep this in their account until receiving a gift card or wine code.

Unfortunately, the offer will not be available to those who are existing Virgin Money personal current account customers, or those who already have an M Account.

This includes closures since July 30, 2021, and those who have previously taken up bundles or offers for switching to Virgin Money in the past.