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M Plus Account

Giving you more for your money

As a personal or joint account, boost your balance with high interest rates and cashback offers

You’ll need to be 18+ and a UK resident to apply online. Rates are variable.

Logo - Winner Moneyfacts Awards 2022-2023 - Best Current Account Provider. Summary of interest rates available with the M Plus Account.

The highlights

Important information

From 19 March 2024 we will be reducing our M Plus Saver rates from 3.55% AER2 (3.50% gross per annum) to 2.50% AER2 (2.48% gross per annum) on balances up to £25,000. For balances above £25,000 rates will reduce from 2.52% AER2 (2.50% gross per annum) to 2.00% AER2 (1.99% gross per annum). Interest paid quarterly. All rates are variable.

Get the lowdown on the linked saver

It’s quick to transfer money between your current account and linked saver account. And if you use the app or online banking, you can see the balances whenever you want.

Check out the M Plus Saver summary box:

Interest rate up to 18 March 2024

BalanceGross rate (%)AER (%)
Balances up to and including £25,0003.50%3.55%
Balances over £25,0002.50%2.52%

Effective from 19 March 2024

BalanceGross rate (%)AER (%)
Balances up to and including £25,0002.48%2.50%
Balances over £25,0001.99%2.00%

Interest is calculated on a daily basis and paid on the last working day of each calendar quarter.

Yes, if we decrease your rate we’ll provide at least two months’ notice as described in your Terms. We may increase your rate without giving you notice

Up to 18 March 2024

Initial deposit at account openingBalance after 12 months
£1,000.00£1,035.46
£25,000.00£25,883.24
£50,000.00£51,514.12

Effective from 19 March 2024

Initial deposit at account openingBalance after 12 months
£1,000£1,025.04
£25,000£25,624.64
£50,000£51,125.87

This is only an example and doesn't take into account your individual circumstances.

The example assumes that:

  • no further deposits or withdrawals are made;
  • any interest earned stays in the account; and
  • there is no change to the interest rate.

You may only open an M Plus Saver if you have an M Plus Account with us in the same name(s). The M Plus Saver will stay open, as long as the M Plus Account is maintained as described in the Terms.

The account can be opened in Store or online, virginmoney.com/current-accounts/pca, or call us on 0800 121 7365, someone from our team will be available 24/7.

There are no minimum or maximum balance restrictions or need to pay in on a regular basis. The M Plus Account is available to anyone from the age of 16. Subject to status.

If you want to apply online, you'll need to be at least 18. Subject to status.

You may only withdraw funds by transfer to your M Plus Account or any other account that we allow you to make a transfer into using online/telephone banking, the Virgin Money Mobile Banking app or in Store.

If you apply for an account, you’ll need to download and read these documents:

Customer quote Michael Woosnam “Easy and quick. No complex information required.” Customer quote June Redman “Would highly recommend to anyone who is thinking of changing banks.”

Ready to apply?

You can use the Virgin Money Mobile Banking app, or apply online.

Get started

Footnote 1. Interest rate of 2.02% AER (2.00% gross per annum variable), paid monthly, on your M Plus Account balance up to £1,000.

Footnote 2. Interest rate of 3.55% AER (3.50% gross per annum variable) on savings balances up to £25,000, and 2.52% AER (2.50% gross) on any balances above £25,000. Interest paid quarterly.

Footnote 3. Interest rate of 4.76% AER tax-free P.A. - The tax-free rate is the contractual rate of interest payable where interest is exempt from income tax. This ISA is available for most current account customers. It’s not available to Essential Current Account customers, or any account opened with Northern Rock.

Footnote 4. Interest rate of 5.25% AER tax-free P.A. - The tax-free rate is the contractual rate of interest payable where interest is exempt from income tax. This ISA is available for most current account customers. It’s not available to Essential Current Account customers, or any account opened with Northern Rock.

Footnote AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once each year. Gross rate interest payable without taking account of any tax payable. Credit interest is calculated daily on the cleared credit balance in your account.