Savings Interest Rates, Switch Offers and Guides for Virgin Money

Who they are

The Virgin Money brand was founded by Richard Branson in March 1995. It has grown considerably since then, picking up banking licences and customers through a string of acquisitions - most notably buying Northern Rock in January 2012 and rebranding the business as Virgin Money. In March 2024, the bank's parent company agreed to be acquired by Nationwide Building Society in a £2.9 billion deal that was completed on 1 October 2024, and will see the Virgin Money brand name phased out by 2030. Following Court approval on 23 February 2026, Virgin Money's business transferred to Nationwide on 2 April 2026. Day-to-day banking continues as before for now - the same sort codes, the same app, the same accounts.

FSCS protection - the key thing to know

This is genuinely important if you already save with Nationwide. A maximum of £120,000 of your combined eligible deposits with Virgin Money and Nationwide are protected under the Financial Services Compensation Scheme (FSCS). That £120,000 is a shared limit across both brands, not a separate pot for each. It is a higher combined limit than the standard £85,000, but crucially it is a single shared limit - if you already hold savings with Nationwide, any money you place with Virgin Money counts toward the same pot. Worth checking before you open or top up an account.

Savings accounts

Virgin Money's savings range covers easy access, Cash ISAs, and a fixed-rate bond. The headline easy access option is the Double Take E-Saver, currently paying 4.16% AER variable on deposits from just £1. The catch is withdrawal restrictions - you are limited to two withdrawals per calendar year, so it sits somewhere between a true easy access account and a notice account in practice.

On the ISA side, the 1 Year Fixed Rate Cash E-ISA offers the best rate in the range at 4.41% AER with no access until maturity, while the Double Take E-ISA pays 4.15% AER but carries the same two-withdrawal-per-year limit. The M Access ISA is a more genuinely flexible option at 3.25% AER. If you have a Virgin Money M Plus current account, the linked M Plus Saver pays 1.75% AER variable on balances up to £25,000 - useful as a linked account but not a rate to shout about. The 1 Year Fixed Rate E-Bond pays 4.00% AER with no access during the term. All accounts carry FSCS protection, subject to the combined Nationwide limit described above.

There are no current account switch offers from Virgin Money in our data at this time.

Is it right for you?

Virgin Money suits savers who are comfortable with a slightly unconventional easy access setup, and who want ISA options with competitive fixed rates. The withdrawal restrictions on the Double Take accounts are the thing to watch - if you think you might need your money more than twice in a year, look elsewhere. Anyone who already banks or saves with Nationwide should pay close attention to the shared FSCS limit before committing significant sums.

Rates across all accounts are variable where shown and can change at any time. Always check the live figures on this page for the current numbers before deciding.