Interest rates and fees

Credit terms

Overdraft terms

Other important information

Fee Information Documents

• Credit interest rates

  The credit interest rate is the rate of interest that accumulates on your account for the amount of funds you have in credit.

  Current Account Control (Off sale product)

  We're no longer taking applications for the Current Account Control.

  Existing customers can find out more about their account on the Virgin Money website:

  Find out more

  Current Account Direct (Off Sale Product)

  We're no longer taking applications for the Current Account Direct.

  You can find out more about the Virgin Money M Plus Account on the Virgin Money website:

  Find out more

  Current Account Plus (Off Sale Product)

  We're no longer taking applications for the Current Account Plus.

  You can find out more about the Virgin Money M Plus Account on the Virgin Money website:

  Find out more

  Flexible Repay / Rapid Repay (Off Sale Product)

  Balance	Rates
  	Gross* (% p.a)	AER++ (%)
  On all balances	0.00	0.00
  Please note the Rapid Repay and Flexible Repay Accounts are no longer on sale.
  Credit interest will be paid if the balance of your Rapid Repay Account or Flexible Repay Account is in credit. Credit interest is calculated on the cleared credit balance on a daily basis and credited to accounts on the last business day of each month.

  Student Account (Off Sale Product)

  We're no longer taking applications for the Student Account .

  You can find out more about the Virgin Money M Plus Account on the Virgin Money website:

  Find out more

  Download your account tariff

  You can also download your account tariff:

  • Current Account Mortgage Tariff (PDF, opens in a new window) for information on Flexible Repay / Rapid Repay current accounts.
    _{(applicable from 22nd April 2020)}

• Arranged/Unarranged Overdraft interest rates and fees

  The Overdraft interest rate is the rate of debit interest calculated on the cleared debit balance on a daily basis. For further information on how Arranged and Unarranged Overdrafts work, see Overdrafts Explained..

  Current Account Control (Off sale product)

  We're no longer taking applications for the Current Account Control.

  Existing customers can find out more about their account on the Virgin Money website:

  Find out more

  Current Account Direct, Current Account Plus, Student Account (Off Sale Products)

  We're no longer taking applications for these accounts.

  You can find out more about the Virgin Money M Plus Account on the Virgin Money website:

  Find out more

  Flexible Repay / Rapid Repay (Off Sale Product)

  Overdraft rates	Debit interest rates
  	Per month (%)	Per annum (%)	EAR† (%)
  Arranged Overdraft interest rate	This is your mortgage rate as shown in your mortgage offer document.

  Fee description	Fee	Buffer amount	Notes
  Refusing A Payment Due To Lack Of Funds Fee	£4.00 per item	£4.00	This fee will be charged when there is not enough money in your account or Arranged Overdraft to make a payment and we refuse the request. We will not charge this fee if the value of the refused payment is £4.00 or less. This is the Refusing A Payment Due To Lack Of Funds Fee buffer amount.
  We have a monthly fee cap of £40.00 per calendar month. This fee cap means that you'll never pay more than £40.00 per calendar month in Refusing A Payment Due To Lack Of Funds Fees. The cap does not apply to debit interest.
  The amount of the Refusing A Payment Due To Lack Of Funds Fee and debit interest will be notified to you at the end of each calendar month, giving you at least 14 days’ notice before it is applied to your account.

  Download your account tariff

  You can also download your account tariff:

  • Current Account Mortgage Tariff (PDF, opens in a new window) for information on Flexible Repay / Rapid Repay current accounts.
    _{(applicable from 22nd April 2020)}

• Other information about our current accounts

  Applicable to Rapid Repay Account/Flexible Repay Account.

  Charges for our most common additional services

  	Charge
  Bankers draft (up to & including £100,000)	£30.00 per draft
  Cancelling A Cheque	£10.00 per cheque
  Duplicate Statement Fee (if you have opted out of receiving paper statements then no fee will be charged)	£5.00 per statement

  Receiving Money From Outside The UK

  Transaction Type	Location	Currency	Fee
  SEPA			No Charge
  SWIFT	* Within the EEA	All Currencies including Sterling up to £100 (or equivalent)	No Charge
  		Currency is Euro, Swedish Krona or Romanian Leu over £100 (or equivalent)	No Charge
  		All remaining currencies including sterling over £100 (or equivalent)	£7.00
  SWIFT	Outside the EEA	All currencies over £100 (or equivalent)	No Charge
  		All currencies over £100 (or equivalent)	£7.00
  Copies of confirmations/ advices			£5.00 per item

  * List of countries within the EEA
  Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czehc Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy,Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK

  Debit card transactions

  Transaction Type	Retailer/ ATM location	Currency	Fees
  Debit Card Cash withdrawal	Within the EEA (including UK)	Currency is Pound Sterling, Euro, Swedish Krona or Romanian Leu	Fee not charged	Where a foreign purchase transaction is refunded by a retailer, the purchase transaction amount will be credited back to the account based on the exchange rate on the day of refund. Any fee charged for the original transaction will not be refunded. For any Foreign Transaction reversals, any fee charged will be reversed.
  		All remaining currencies	3.75% of transaction value, min £1.50
  	Outside the EEA	All currencies (including Pound Sterling)	3.75% of transaction value, min £1.50
  Debit Card Payments	Within the EEA (including UK)	Currency is Pound Sterling, Euro, Swedish Krona or Romanian Leu	Fee not charged
  		All remaining currencies	2.75% of transaction value, min £1.50
  	Outside the EEA	All currencies (including Pound Sterling)	2.75% of transaction value, min £1.50

  Limits

  	Cash	International purchases
  Debit Mastercard® Online Contactless	£350 per day	£5,000 per day
  Debit Mastercard Online Non-Contactless	£350 per day	£5,000 per day
  Debit Mastercard Contactless	£500 per day	£10,000 per day
  If you are unsure as to your debit card type (limits), please refer to your card carrier or branch. Daily cash limits apply to withdrawals in the UK or abroad. Higher cash amounts may be available over a bank counter. International purchase limits apply if a card is used outside the UK. Other limits may apply to certain types of transactions from time-to-time.

  Collections department

  If we need to involve our collections department you must pay us for all reasonable costs and expenses which we incur as a result. These could include any costs incurred by us on correspondence or taking steps to trace you or recover money you owe (including legal costs). Further details are available on request from your branch.

  ---

  Download your account tariff

  You can also download your account tariff:

  • Current Account Mortgage Tariff (PDF, opens in a new window) for information on Flexible Repay / Rapid Repay current accounts.
    _{(applicable from 17th June 2022)}

• Glossary of Terms

  From the 31st October 2018, some new regulation is coming your way for Payment Accounts. It’s all about making the information you are given on fees for key services on Current Account(s) more consistent between banks. This involves the standardisation of terms used as well as their definitions. You can also view our Glossary of Terms, which will let you know what the change is to each term or phrase.

  Fee Information Documents for Current Accounts

  These documents inform you about the fees for using the main services linked to the payment account. It will help you to compare these fees with those of other accounts.

  Current Accounts

  You can view your fee information document on the Virgin Money website:

  Find out more

  Current Accounts Mortgages

  Flexible Repay Account - No longer on sale

  • Flexible Repay Account Fee Information Document

  Rapid Repay Account - No longer on sale

  • Rapid Repay Account Fee Information Document

Explanations are based on current understanding of UK taxation. Tax treatment is subject to future change.

*Gross rate. Gross rate interest is the interest payable without taking account of any tax payable. If you earn interest over your Personal Savings Allowance you will be required to pay any tax due yourself directly to HM Revenue and Customs. If you would like to read more about your Personal Savings Allowance, please visit the Government website www.gov.uk.

++AER. The Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.

† The effective annual rate (EAR) is the cost of borrowing on current accounts. This takes into account the rate of interest charged, how often it’s charged and the fact that if interest is not paid, you'll pay interest on interest. The EAR can change.

Important information about compensation arrangements.

Your eligible deposits held by a UK establishment of Clydesdale Bank PLC are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme.

This limit is applied to the total of any deposits you have with the following: Clydesdale Bank, Yorkshire Bank and Virgin Money. Any total deposits you hold above the limit between these brands are unlikely to be covered.

Please see FSCS leaflet download (Opens in a new window) for further information or visit www.fscs.org.uk  

You can also refer to our FSCS Guide download (Opens in a new window) for more details.