Is Virgin Money FSCS protected?

Yes, Virgin Money is fully FSCS protected up to £120,000 per person.

Independent BankAdvisor review

Virgin Money Complete Review

Item: Virgin Money
Rating: 3.2 / 5
Author: BankAdvisor.co.uk

Virgin Money offers UK current accounts, linked savings, credit cards, mortgages, personal loans, insurance and app banking. It is now part of Nationwide Building Society, which makes FSCS licence grouping an important point for savers to check.

High Street BankFSCS ProtectedLinked savings

Editorial Review

Last reviewed: 30 June 2026

Official provider informationReview ProcessEditorial Guidelines

FSCS protected: eligible deposits may be protected up to £120,000 per person, per authorised firm.

Review Contents

Navigate through detailed analysis

Overview & Approach

Virgin Money offers fee-free and paid current accounts, including M Plus-style current accounts and Club M packaged accounts. Features can include linked savings, app banking, debit cards, credit products and branch support. Customers with deposits across Virgin Money and Nationwide should check FSCS coverage carefully because licence groups matter.

This complete review expands on the overview page by looking at account features, fees, protection, app experience, support options and the practical trade-offs readers should check before choosing.

Trust & Customer Ratings

Virgin Money is reviewed using public information, official provider details and available customer feedback signals. Eligible deposits are covered by FSCS protection where the account is held with the relevant authorised UK bank.

Customer review and app-store ratings can change quickly, so readers should treat them as a snapshot rather than a permanent score.

3.2 / 5

★★★★★★★★★

(Trustpilot)

Trust Score

FSCS Protection

Yes - £120,000

Apple App Store

4.6 / 5

Google Play

4.4 / 5

Phone Support

Available

Branch Access

UK branches

Digital & App Features

Virgin Money supports everyday banking through a mix of app, online, telephone and branch or partner-channel support, depending on the account and location.

The most important checks are monthly fees, overseas card charges, overdraft pricing, savings eligibility, app controls, support access and FSCS licence grouping.

✓

FSCS Protection: Yes - eligible deposits are protected up to the current FSCS limit per person, per authorised firm.

✓

Monthly Fee: M Plus-style current account: usually £0. Club M packaged account: monthly fee applies.

✓

Branch Network: Virgin Money has UK branch support, though customers should check local availability and any changes during the Nationwide transition.

✓

Mobile App Rating: Generally good app ratings on the main app stores; check current listings before applying.

✓

Savings: Online savings, fixed-rate, ISA, limited-access and M Plus linked saver options are available, with rates varying by product and balance.

✓

Spending Abroad: Non-sterling debit card fees can apply; check current terms before travelling.

✓

Packaged Account: Club M offers packaged benefits for a monthly fee, subject to eligibility and insurance terms.

✓

Apple Pay / Google Pay: Supported for eligible cards and devices.

Account Types & Fees

Virgin Money offers current accounts with linked savings, plus online savings, cash ISA, fixed-rate and limited-access products. Its online savings comparison page should be treated as the source for current savings rates because product availability and issue numbers can change.

The online savings range checked for this review includes 1 Year Fixed Rate Cash E-ISA, Double Take E-ISA, M Access ISA, Double Take E-Saver, 1 Year Fixed Rate E-Bond and the M Plus Saver linked to the M Plus current account.

Virgin Money is now part of Nationwide Building Society, so savers should check FSCS licence grouping carefully. Virgin Money states combined deposits with Virgin Money and Nationwide are covered up to the FSCS limit per person.

Account Types

M Plus current account
M Plus Saver linked savings account
Club M packaged current account
1 Year Fixed Rate Cash E-ISA
Double Take E-ISA
M Access ISA
Double Take E-Saver
1 Year Fixed Rate E-Bond
Credit cards, loans and mortgages where available
Mobile, online and branch support

Detailed Fees

Fee TypeApplies ToCost & Conditions

Monthly Account FeeM Plus current account£0

Monthly Account FeeClub M packaged accountMonthly packaged-account fee applies; check current Club M terms and insurance eligibility

M Plus Current Account InterestM Plus current account1.00% AER / gross variable on balances up to £1,000; interest paid monthly

M Plus SaverLinked to M Plus current account1.75% AER / 1.74% gross variable on balances up to £25,000; 1.25% AER / 1.24% gross variable above £25,000; interest paid quarterly

1 Year Fixed Rate Cash E-ISAOnline fixed cash ISA4.41% AER/tax-free fixed until 24 July 2027

Double Take E-ISAOnline limited-access cash ISA4.15% AER/tax-free variable; up to 2 withdrawals per calendar year

M Access ISAOnline cash ISA3.25% AER/tax-free variable

Double Take E-SaverOnline limited-access savings4.16% AER/gross variable; up to 2 withdrawals per calendar year

1 Year Fixed Rate E-BondOnline fixed-rate bond4.12% AER/gross fixed until 20 July 2027; no withdrawals permitted during the fixed-rate period

Foreign Card SpendingDebit cardNon-sterling debit card fees can apply; check current account terms before travelling

Arranged OverdraftIf eligibleSubject to eligibility and affordability; borrowing costs should be checked before applying

App Experience

Virgin Money's app and online banking support everyday tasks such as checking balances, viewing transactions, making payments and managing cards.

Readers who rely heavily on mobile banking should compare current App Store and Google Play feedback as well as the provider's own feature list.

May suit

OKM Plus-style current account options can have no monthly fee
OKPackaged Club M account available for customers who value insurance benefits
OKLinked saver options can be useful for current account customers
OKApp, online and branch support available
OKEligible deposits are FSCS protected, subject to licence-group limits
OKBroad product range including credit cards, loans and mortgages

May not suit

!Club M carries a monthly fee
!Overseas debit card fees can apply
!Virgin Money is part of Nationwide, so savers should check FSCS licence grouping
!Customer review scores can be mixed
!Product range and account names can feel complex
!People who want app-first budgeting tools above branch access

Final Verdict

Virgin Money is worth comparing if its support model, fees and account features match what the reader needs. It should not be treated as universally better or worse than other high street banks without checking the specific trade-offs.

Before choosing, readers should verify current fees, savings rates, eligibility rules, overseas charges and FSCS licence details directly with the provider.

Virgin Money Features Overview

About Virgin Money

Virgin Money offers UK current accounts, linked savings, credit cards, mortgages, personal loans, insurance and app banking. It is now part of Nationwide Building Society, which makes FSCS licence grouping an important point for savers to check.
Virgin Money offers fee-free and paid current accounts, including M Plus-style current accounts and Club M packaged accounts. Features can include linked savings, app banking, debit cards, credit products and branch support. Customers with deposits across Virgin Money and Nationwide should check FSCS coverage carefully because licence groups matter.

Savings & Pots

Online savings range includes fixed-rate, cash ISA, limited-access and linked saver products.
1 Year Fixed Rate Cash E-ISA: 4.41% AER/tax-free fixed until 24 July 2027.
Double Take E-ISA: 4.15% AER/tax-free variable, with up to 2 withdrawals per calendar year.
Double Take E-Saver: 4.16% AER/gross variable, with up to 2 withdrawals per calendar year.
1 Year Fixed Rate E-Bond: 4.12% AER/gross fixed until 20 July 2027, with no withdrawals during the fixed-rate period.
M Plus Saver is a linked saver with modest variable rates, not a high headline promotional rate.
Savers should check Virgin Money and Nationwide FSCS grouping before holding large balances across both brands.

Loans & Overdrafts

Overdrafts may be available subject to eligibility.
Credit, loan or mortgage products vary by provider.
Borrowing costs should be checked directly with the bank.

Who May Virgin Money Suit?

M Plus-style current account options can have no monthly fee
Packaged Club M account available for customers who value insurance benefits
Linked saver options can be useful for current account customers
App, online and branch support available
Eligible deposits are FSCS protected, subject to licence-group limits

Card & Spending

Debit card available with current accounts.
Apple Pay and Google Pay support where eligible.
Overseas fees should be checked before travelling.

Budgeting & Money Tools

Mobile app and online banking available.
Transaction history and payment tools available.
Budgeting depth varies by provider.

International & Travel

Check foreign card spending and ATM fees before travelling.
ATM operator fees can apply separately.
Compare specialist travel cards if overseas use is a priority.

App & Usability

Compare app-store ratings and recent customer feedback.
Check branch, telephone and online support availability.
Service experience may vary by location and account type.

Financial Information Disclaimer

The information on this website is provided for general guidance only and may not always reflect the latest fees, rates, or terms offered by each bank. While we do our best to keep content accurate and up-to-date, you should always check the bank's official website or app before applying for an account. Nothing on this site constitutes financial advice.

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