Founded by Richard Branson, Virgin Money is a financial services brand offering a large range of financial products including current accounts, loans, savings, mortgages, investments, cards, insurance, pensions, currency and more.
Virgin Money has a large range of tax-efficient, fixed and variable rate Cash ISAs. The maximum allocation to these ISA is £20,000 tax-free each year:
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The Virgin Money Current Account Linked Savings Account
This linked savings account comes as standard with the Virgin Money Current Account. It has a variable interest rate of 0.50% AER tax-free. You can pay money in at any time, and take money out at any time too.
1 Year Fixed Rate Cash ISA Exclusive
This ISA is open to eligible current account holders. It has a variable interest rate of 1.00% AER tax-free. You can pay money within 30 days or product withdrawal. Taking money out at will be subject to a charge.
Easy Access Cash ISA Exclusive
This ISA has a variable interest rate of 0.50% AER tax-free. You can pay money in at any time, and take money out at any time too.
1 Year Fixed Rate Cash E-ISA
This ISA is an online account with a fixed interest rate of 0.60% AER tax-free. You can pay money in within 30 days of opening an account. Taking money out at will be subject to a charge.
3 Year Fixed Rate Cash E-ISA
This ISA is an online account with a higher fixed interest rate of 0.75% AER tax-free. You can pay money in within 30 days of opening an account. Taking money out at will be subject to a charge.
Easy Access Cash E-ISA
This ISA is an online account with a variable interest rate of 0.25% AER tax-free. You can pay money in at any time, and take money out at any time too.
Regular E-Saver
This ISA is an online account with a fixed interest rate of 1.00% AER tax-free. You can pay money in up to £250 per calendar month and take money out at any time too.
1 Year Fixed Rate E-Bond
This ISA is an online account with a fixed interest rate of 0.60% AER tax-free. You can pay money in for a limited amount of time, however no withdrawals are permitted during the fixed rate period.
3 Year Fixed Rate E-Bond
This ISA is an online account with a higher fixed interest rate of 0.75% AER tax-free. You can pay money in for a limited amount of time, however no withdrawals are permitted during the fixed rate period.
Other Services
Virgin Money offers a large range of related financial services including current accounts, loans, savings, mortgages, investments, cards, insurance, pensions, currency and more.
Virgin Money Reviews and Ratings
Online reviews for Virgin Money are overwhelmingly bad with customers complaining about the company’s uncaring and untrained staff, poor customer service, inability to access online accounts especially via the app, frozen accounts, slow administration processes and more.
Trustpilot – 1.3/5 (based on 2,619 reviews)
Reviews.io – 2.0/5 (based on 4 reviews)
Pros
- A popular and credible brand
- A large range of fixed and variable rate Cash ISAs
- Open and manage your account online 24/7
- Clear, easy-to-understand product information
- Transfers-in allowed
- Award-winning: Moneyfacts 2020
- Covered by the Financial Services Compensation Scheme
Cons
- Fixed and variable rate Cash ISAs only
- Innovative Finance, Stocks and Shares or Lifetime ISA products not offered
- An overwhelmingly large choice of Cash ISAs to pick from
- Very bad customer reviews – ‘uncaring, untrained staff’
- Reports of accounts being frozen and app not functioning properly
- Complaints of slow administration processes
Website: Virgin Money