Welcome. Getting to know your new Virgin Essential Current Account

Welcome

Getting to know your new

Welcome to Virgin Money

Thank you for opening a Virgin Essential Current Account. At Virgin Money, we believe everyone should have access to good value, straightforward banking. But in our experience, current accounts can often be complicated, with too many different features and fees.

That’s why we have developed the Virgin Essential Current Account. Simple and straightforward, it delivers the essentials of banking brilliantly.

We are delighted to welcome you as a customer and look forward to serving you in Store, online and over the phone. Plus you can also enjoy access to our fantastic Virgin Money Lounges, as well as exclusive customer offers from around the world of Virgin. Read on to find out more.

We hope you enjoy being a Virgin Essential Current Account customer. It’s great to have you with us.

Inside this Welcome guide

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Your new account at a glance 6

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Summary of our services 7

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Our charges 8

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Switching your banking to us 9

Paying money into your account

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Paying cash in 12

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Paying cheques in 12

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Salary, benefits and other payments in 13

Easy, instant access to your money

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Your Virgin Debit Card 16

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Making life easier when you shop 17

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Convenient cash withdrawals 18

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Taking your card on holiday 18

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Peace of mind paying bills 19

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Unpaid Direct Debits and standing orders 21

Putting you in control

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Checking your account 24

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Your monthly statement 24

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Online Service 25

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Keeping your account secure 26

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Joint accounts 28

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Making changes to your account 28

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Help when you need it 29

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Protecting your money 29

The account that gives you more

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Your Lounge, your way 32

›

Attractive offers from around the world of Virgin 33

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Better banking as standard 34

This guide

should be read

together with

your Terms.

Summary of our services

With the Virgin Essential Current Account you can bank with us face to face at your local Virgin Money Store. You can also access your account at any Post Office branch, and we offer some specific services online, over the phone and by post. The table below shows what you can do and where. For more about any of these services, take a look at the relevant section in this guide.

* Not all Stores offer cash services – you can check whether your local Store does at virginmoney.com ** You can only make a Faster Payment over the phone if you have used the same payment details before. New payments will need to be set up in Store.

*** You can change the date, amount or frequency of an existing standing order over the phone. **** You can only change certain information over the phone – for more details, please call us or visit your local Virgin Money Store.

Note: if the account is a joint account, we will act on instructions given by either of you.

Your new account at a glance

Here is a reminder of the main benefits of your new Virgin Essential Current Account.

Your own Virgin Debit Card

Free withdrawals at almost all high street cash machines, and you can make purchases online, in shops and over the phone. And use it abroad too.

Deal with a friendly face in Store

Manage your account day-to-day at your local Virgin Money Store.

Access your account at the Post Office

®

_too

Use the counter services at over 11,000 Post Office branches nationwide.

Check your account anytime, day or night

View your balance online, on your mobile and at cash machines.

Fair and simple charges

We only charge for a handful of things – your account is free to use on a day-to-day basis.

All the perks of being a Virgin Money customer

Exclusive use of Virgin Money Lounges, plus attractive offers from around the world of Virgin.

Service Store* _OfficePost _{machine Online Phone}Cash Post

Check account balance

Check recent transactions

Check Direct Debits and

standing orders Withdraw cash (maximum) £2,000 £250 £250 Pay cash in (maximum) £5,000 Pay cheques in

Make a Faster Payment

(maximum) £100,000 £10,000 £100,000

Set up or change standing

orders ***

Cancel standing orders

and Direct Debits

Make changes to your

account ****

Our charges

We have made every aspect of the Virgin Essential Current Account as simple as possible, including our charges. Here is a list of the few things we charge for. All charges will be applied immediately.

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Additional paper copy of your statement £10

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Same-day electronic transfer (CHAPS) £30

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Cash machine withdrawals abroad £1.50 per transaction. We do not charge if you use your debit card to make purchases abroad. Standard same-day transfers (by Faster Payment) are available free of charge. For more information on the different payment methods, see page 19.

There is no overdraft on the account. If your balance goes below £0 you will not have to pay interest or a charge, but you must bring your account back into credit immediately.

Switching your banking to us

If you have another current account that you have not yet switched to us, it is quick and easy to do. We can transfer the balance and any Direct Debits and standing orders from your old account to us in just seven business days, thanks to our Current Account Switch Service.

The service is completely free and backed by an industry-wide Current Account Switch Guarantee to ensure the move goes smoothly.

If you are interested in switching, speak to the team at your local Virgin Money Store. To get started, we will just need your old bank details and preferred switch date.

Paying money

into your

account

Paying cash in

Paying cheques in

Paying cash in

You can pay cash into your current account at most Virgin Money Stores (not all Stores offer cash services – you can check whether your local Store does at virginmoney.com). We will just need your account number (this is

on the front of your Virgin Debit Card).

We are unable to accept foreign currency in cash.

You can also pay in up to £5,000 cash per day at most Post Office branches (some smaller branches have a £1,000 paying in limit). You will need your Virgin Debit Card with you.

If you pay cash into your account at a Virgin Money Store before 3pm on a business day, you can withdraw it straightaway as cleared funds. If it is paid in on a non-business day or after 3pm on a business day, it will be credited to your account immediately, but it will not be available to withdraw as cleared funds until the next business day. If you withdraw it before it has cleared, this could take your account balance below zero. We will not charge you for this.

Paying cheques in

You can pay cheques into your current account at any Virgin Money Store or you can post them with a covering letter stating your name and account number to Virgin Money, Current Accounts, Jubilee House, Gosforth, Newcastle upon Tyne NE3 4PL.

Please be aware of the following:

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If we receive a cheque before 3pm, we will process it the same day (after 3pm, or on a non-business day, it will be processed the next business day).

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After four business days, the money will be available for you to withdraw, but there is still a chance the cheque could bounce.

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After six business days*, you can be sure the money is yours.

So if a cheque was paid in before 3pm on Monday (A), the money would be available to withdraw on Friday (B) and fully cleared in your account the following Tuesday (C).

Mon Tue Wed Thu Fri Sat Sun Mon Tue Wed

A B C

* A cheque from someone who has recently switched bank accounts will take an extra two days to clear if it has come from their old account. Cheques from non-UK bank accounts can take up to six weeks to be credited to your account.

Salary, benefits and other

payments in

One of the big advantages of a current account is having payments like your salary or your benefits paid straight into your account, electronically. We can accept a variety of different electronic payments into your account. For most of these, you will just need to give your account details to the company or individual sending you the money. You can find your account number and sort code on your Virgin Debit Card.

If the money is being sent to you by CHAPS (a same-day electronic transfer for bigger, urgent payments), or from a bank outside the UK, you will need to give different account details. These can be found at myvirginmoney.com

Easy, instant

access to

your money

Your Virgin Debit Card

Making life easier when you shop

Convenient cash withdrawals

Taking your card on holiday

Peace of mind paying bills

Unpaid Direct Debits

Your Virgin Debit Card

Your Virgin Debit Card offers a convenient way to access the money in your current account. With your card, you can:

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Shop online, on the high street, over the phone and by post.

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Withdraw up to £250 a day at cash machines with the LINK or VISA symbol.

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Take out cashback at the till at participating retailers (this is part of your

£250 cash machine limit).

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Take out an additional £250 at over 11,000 Post Office branches nationwide.

Your Personal Identification Number (PIN)

If you use your Virgin Debit Card at a cash machine or card terminal, you will be asked to enter your PIN. This is a 4 digit number you use to authorise each debit card transaction. A small number of retailers may not have Chip and PIN terminals and will ask you to sign a paper receipt, so it is important to sign the back of your card as soon as you receive it.

For important information on keeping your card secure and protecting your PIN, see page 26.

Can I change my PIN?

Yes, you can change it at any time to a number you will find easier to memorise. You can do this at any Virgin Money cash machine and the majority of other LINK cash machines. Follow the simple instructions on screen, and remember to avoid a number someone else can easily guess like 1234.

What happens if I enter my PIN incorrectly?

If you enter your PIN incorrectly three times at a retailer, your PIN will be

‘locked’. If you know your PIN, you can use the ‘Unlock PIN’ option at a cash machine. If not, you can request a PIN reminder at your local Virgin Money Store or call us on 0845 600 6103.

If you enter your PIN incorrectly three times at a cash machine, your card

will be ‘locked’. You need to call us or visit your local Virgin Money Store to request a PIN reminder. Once you get this, you can use the ‘Unlock Card’

Card number Expiry date Security number

Making life easier when you shop

Your Virgin Debit Card offers an easy way to pay for things online, over the phone, in shops and by post. It is a convenient alternative to carrying cash around.

You can use your debit card at most retailers, as long as they carry the VISA symbol, and you can spend up to the balance in your account. For the majority of your card transactions, we will check there is enough money in your account immediately. If there is insufficient money in your account, we may decline the payment. Please note, your debit card will not work if the card terminal is not connected to the card network (e.g. on an airplane, boat, or some trains).

If you make payments over the phone, online or by post, you will be asked for the 16 digit number and the expiry date on the front of your card, and the 3 digit security number on the back of your card (see the example below).

Regular debit card payments

As well as purchases and cash withdrawals, you can also give companies your card details online, over the phone or by post to set up regular payments for certain things (e.g. magazine subscriptions). You will sometimes see these referred to as ‘continuous payment authorities’ or ‘recurring transactions’. To cancel any regular payments you make with your card, please call us with the details at least one business day before the payment is due. We also recommend you contact the company the payments are made to and cancel the payments directly with them as well.

Convenient cash withdrawals

Cash machines

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You can use your debit card at any cash machine with the LINK or VISA symbol, giving you access to over 65,000 cash machines in the UK.

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You can use most machines free of charge. If there is a charge, you will

be told about it before your transaction goes ahead (this charge is made by the cash machine operator, not Virgin Money).

Other ways to withdraw cash

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You can withdraw up to £2,000 over the counter at most Virgin Money Stores (you can check if your local Store offers cash services

at virginmoney.com).

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As a convenient alternative to using a cash machine or Virgin Money Store, you can also take out up to £250 cashback per day at the till at participating retailers (cashback is limited to £100 per transaction and is part of your £250 cash machine limit – the retailer may have their own lower limit).

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You can also withdraw an additional £250 per card per day over the counter at over 11,000 Post Office branches nationwide.

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If you use your card for ‘cash equivalent’ transactions (e.g. travellers cheques, foreign currency, gambling) this will count towards your £250 daily cash machine limit.

Taking your card on holiday

You can use your card for shopping and withdrawing cash overseas, wherever you see the VISA symbol.

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Outside the UK, you will be charged for using your card to withdraw cash (£1.50 per transaction).

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We do not charge you if you use your debit card to make purchases outside the UK.

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The exchange rate for overseas transactions is determined by VISA on the day they receive the transaction.

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Please tell us before you travel abroad to help avoid any issues with using

Peace of mind paying bills

Your Virgin Essential Current Account makes it easy for you to make payments from your account to companies and individuals.

This means you can pay your bills (e.g. council tax, rent, electricity, water, phone) quickly and easily, and make regular or one-off payments to friends or family members. The most common ways to make payments from your account are by Direct Debit, standing order and Faster Payment. But we can make payments by CHAPS and Bank Giro Credit too. You can also use your Virgin Debit Card to pay a bill or make a one-off payment.

Direct Debit is the easiest way to pay regular bills. It lets you spread the cost and many businesses offer a discount for paying by Direct Debit. Plus, your payments are backed by the Direct Debit Guarantee, so you will get a refund if there are any errors.

For Direct Debits and standing orders, you need to have enough money in your account before 2pm on the day the payment is due to be made.

Payment type Set up When will the payment

arrive? How do I cancel or amend it? Direct Debit

For regular bills

With company

you are paying Same day payment leaves account Contact the company, or us, at least one business day before payment is due

Standing order

For regular payments to individuals

In Store By post*

Usually within a few hours, but no more than one business day

Contact us at least one business day before payment is due

Faster Payment

For one-off payments to individuals or companies (max £100,000) By phone** (max £10,000) In Store By post*

Usually within a few hours, but no more than one business day

Contact us at least one business day before payment is due

CHAPS transfer

For large, urgent one-off payments (min £250, £30 charge)

In Store By post*

Same day if instructed before 1pm on a business day, otherwise next business day

Contact us at least one business day before payment is due

Bank Giro Credit

Alternative way to make one-off bill payments

In Store, using tear-off slip on bill

This will be shown on the

Bank Giro Credit slip Payment cannot be cancelled or amended once submitted

Debit card

For bills and

With company

Unpaid Direct Debits and

standing orders

There may be times when we have to reject a Direct Debit or standing order payment because you have insufficient funds in your account at 2pm on the day the payment is due. We will not charge you for this. If a payment is rejected on your account, we will write to you straightaway to let you know. Please note, if there are several Direct Debits or standing orders due on the same day, but not enough money in the account to pay all of them, we will always pay the smallest ones first.

If you try to make a payment by Faster Payment, CHAPS or debit card when there is not enough money in your account, the payment will simply be declined. We will not charge you for this.

Putting you

in control

Checking your account

Your monthly statement

Online Service

Keeping your account secure

Joint accounts

Making changes to your account

Help when you need it

Checking your account

You can view your balance online, on your mobile, at most cash machines and at Post Office branches.

You can also view your transaction history online and use Virgin Money Store cash machines to get mini statements detailing your last five transactions.

Your monthly statement

We will send you a free paper statement each month, showing the transactions on your account and a breakdown of any charges applied to your account. You should check your statements carefully. If you think there is something wrong you must let us know immediately so that we can correct any mistakes.

Online Service

Getting started

If you have not already registered for Online Service, it is quick and easy to do and means you can view details of your Virgin Essential Current Account online, anytime. Just go to myvirginmoney.com, select ‘Current accounts’,

then ‘Register’ and follow the instructions.

After that, whenever you want to use Online Service, all you need to do is visit myvirginmoney.com, select ‘Current accounts’ and enter your

Customer ID, followed by the security information we ask for.

What you can view online

Online Service is designed to help you keep track of all your transactions. Once you have logged into myvirginmoney.com, you can:

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View your account balance.

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View your Direct Debits and standing orders.

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Check your last 12 months of transactions.

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Change your personal details (if you change your address, we will ask you to confirm this in writing).

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Send us a secure message.

Please remember, you are unable to carry out any transactions (e.g. pay a bill) using Online Service.

If you are unsure how to do something, you will find a lot of useful information available on the site to help you. Alternatively, just give us a call.

Letters and statements

Letters we send to you, including your monthly statement, will contain information about your account, so you should keep them safe or dispose of them securely.

If you are writing to us to request a service by post, please make sure you sign the letter.

Staying safe online

If you are registered to use Online Service, there are several security checks we make to confirm your identity before you are able to access any information about your account. These include asking for characters from your online password, your customer ID and answers to your security questions. There are also some things you can do to keep your online information protected:

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You should never give your password, customer ID or security answers to

anyone else.

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Change your password frequently (you can do this when you are logged in).

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If you are using Online Service in a public place (e.g. a cafe), never leave your

PC unattended, change your account details or let anyone watch you type.

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Always log out of Online Service when you have finished.

We will never ask for your password or answers to your online security questions by email, over the phone or in writing. If you get an email claiming to be from Virgin Money, asking you to confirm your log-in details, please do not respond. Simply email it straight to [email protected]

You can find more information about staying secure online in the technical help section of our website when you are logged into myvirginmoney.com

Keeping your account secure

We take the security of your current account very seriously. We have measures in place to make sure your information is protected, whichever way you choose to deal with us. But there are also things you can do to help.

Taking care of your debit card

You must keep your Virgin Debit Card secure at all times:

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Never let your card out of your sight when using it.

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Only shop on secure websites carrying the locked padlock symbol.

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Carefully dispose of any card receipts or documents showing your

card details.

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Keep an eye on your expiry date and contact us if a replacement card does not arrive at least a week before it is due.

If you think your card has been lost or stolen, please call 0845 600 6103 straightaway. You can use this number 24/7 to report lost or stolen cards.

Protecting your PIN

We will send you a letter containing your PIN. You must keep your PIN secure at all times:

›

Never tell anyone your PIN – no one should ever ask you for it.

›

Always enter your PIN discreetly and shield it from view.

›

Never write it down in a way that is obvious to others or keep it

with your card.

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If you think someone has discovered your PIN, tell us straightaway.

Speaking to us in Store

If you are paying in cash at a Virgin Money Store, we will just need to know your 8 digit account number (this is on the front of your Virgin Debit Card). For other services in Store, we will ask to see photographic ID (e.g. a driving licence or passport). If you do not have any photographic ID, please call us or speak to us in Store.

Help when you need it

We are always on hand to answer any questions you have and help you understand how your current account works. You can speak to one of our team in Store or over the phone, or send us a secure message by logging into myvirginmoney.com

We also understand there may be times when money is tight and you could find yourself getting into financial difficulties. At Virgin Money, we will do everything we can to help and support you.

If you have any concerns about your account, please call us on 0845 600 6103

and we can talk through the different options available to you. We may get in touch with you if we notice any problems on the account (e.g. we are regularly unable to make payments from your account).

You will also find lots of useful links at myvirginmoney.com, including

contact details for independent organisations like Money Advice Service, National Debtline and StepChange Debt Charity (formerly the Consumer Credit Counselling Service).

The important thing is not to worry – just be open and honest with us and we will do everything we can to help you.

Protecting your money

If you are paying money into a bank or building society, it is important to know that your money is protected. To give you that peace of mind, we are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors are covered by the scheme. In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor’s accounts with the bank, including their share of any joint account, and not to each separate account.

For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim) please call us on 0845 600 6103,

ask at your local Virgin Money Store, refer to the FSCS website at FSCS.org.uk or call the FSCS on 0800 678 1100 or 0207 741 4100. Please note only

compensation related queries should be directed to the FSCS.

Joint accounts

If you have a joint account, you will both have your own individual debit card and PIN, as well as your own unique customer ID for Online Service, and you will have equal access to your account. You can each pay in, withdraw money and request other services – so either of you could withdraw the available balance. We will carry out our standard ID and security checks whenever either of you contacts us by phone, in Store, by post or online.

At any time, either of you can ask us to restrict the account so we only accept instructions that come from both of you. This means neither of you would be able to use your cards or manage your account over the phone or online. The account will stay in joint names until you both ask for it to be closed or changed to a single account in one of your names.

Please be aware, you are both responsible for getting the account back into credit if your balance goes below £0. This means we can ask both of you to pay the full amount owed, or we can ask you for the money individually. If one of you pays part of it, we can ask the other for the balance. If necessary, we can take money from any other accounts either of you hold with us and use it to repay the outstanding balance.

If either of you dies, the account will be transferred into the name of the other account holder.

Making changes to your account

If you need to change any of the details on your account (e.g. change your name or address), the simplest way to do this is to speak to one of our team at your local Virgin Money Store. Alternatively, you can download a ‘Change of details’ form from our website to complete and send to us.

The account

that gives

you more

Your Lounge, your way

Attractive offers from around

the world of Virgin

Your Lounge, your way

We are on a quest to make banking better, and one way we are making that happen is by opening up Lounges for our customers to enjoy. Designed to be a place to rest and relax as you escape the hustle and bustle of the city, your new current account is the key to exclusive access. Simply register online at myvirginmoney.com and take your Virgin Debit Card and photographic

ID to your nearest Virgin Money Lounge. One of our hosts will give you a membership card, show you around and settle you in.

Refresh and recharge

As a Lounge member, you can recharge your batteries by sinking into one of our comfy armchairs and enjoying a cup of coffee or tea on us, or choose from a range of refreshments and snacks. You can watch TV to keep up with the latest news, and we have the day’s newspapers and a selection of magazines and books for you to read. And if your phone is running low on charge, you can top that up too – there are plenty of power points to use while you sit back and relax.

Families and children

There is even a play area for the little ones in your life, equipped with colouring books and crayons, and a games console so parents can take some time out while their children play. And you can pop in anytime to

Community and events

Our Lounges are fast becoming a hub in the local community. As well as being a special place for our customers to enjoy, we have established links with local charities and groups who can use our facilities for free. We also put on exclusive events especially for our Lounge members, from exhibitions and talks to book signings. Contact your nearest Lounge to find out what events are taking place and to make your booking.

Business and pleasure

Every Lounge is fully wireless so you can surf the web on one of our iPads or your own laptop. Want somewhere to hold an informal meeting? You are welcome to invite guests along and find a spot where you can do some work, or talk with a colleague. And our staff are always happy to help with any little emergencies, like printing off last minute documents before a meeting.

Our Lounges are designed for relaxing, not banking, but if you do need to service one of your Virgin Money accounts during your visit, just speak to one of our Lounge hosts.

Find your nearest Lounge at myvirginmoney.com – we look forward to

welcoming you.

Attractive offers from around the

world of Virgin

Your current account gives you access to terrific offers from around the Virgin family and beyond. That could mean a fantastic deal on a holiday, a one-off pampering day or a gym membership, a good book or a great bottle of wine. Just go to myvirginmoney.com to find the latest deals.

Better banking as standard

At Virgin Money we are on a quest to make banking better – we have taken our first steps and this is what we have been up to:

Making banking easier

We want to make managing your money as easy and painless as possible. Our Cash ISAs and savings accounts do not rely on short-term bonus rates to be competitive. Which means you will not have to move your savings every year to be sure you are still getting a good deal – leaving you to get on with the things you would rather be doing.

Telling it like it is

We cut through the jargon to make everything clear. Our straightforward approach to investments can help you make the most of the stock market without being an expert.

Fitting around you, not you around us

We believe your bank should be flexible enough to fit around your changing needs, not the other way around. Our mortgages all come with built-in flexibility, allowing you to increase payments when you are able and reduce them if you need to.

Treating you as a person, not a number

We have been busy opening Virgin Money Lounges, exclusively for customers, with free refreshments and Wi-Fi. And because we are focused on making banking better for you, our Store teams are measured on customer satisfaction ahead of sales targets.

Helping you make the right choices

We want to arm you with the facts about money and help you achieve your goals. My Virgin Money is an online space designed to help you make more of your money and the Virgin world. Discounts and offers from other Virgin companies, fantastic competitions, news and money tips are all at

Getting in touch with us

In Store

Talk to our team at your local Virgin Money Store. Find your nearest Store at virginmoney.com

By phone

General enquiries

Call 0845 600 6103*

We are here from 8am to 8pm Monday to Friday, 8am to 4pm on Saturdays and 10am to 3pm on Sundays.

Lost or stolen debit cards

Call 0845 600 6103* straightaway. You can use this number

24/7 to report lost or stolen cards.

Online

Send us a secure message by logging into your account at

myvirginmoney.com

By post

Write to us at: Virgin Money Current Accounts Jubilee House Gosforth

Newcastle upon Tyne NE3 4PL

Can I get this guide in a different format?

If you need this guide in another format (e.g. braille, large print or audio) please contact our Disability Awareness Team: By email: [email protected]

By phone: 0191 279 5300*

By text phone: 0191 279 8505*

We are here from 9am to 5pm Monday to Friday. These contact details are not for general enquiries.

* Calls are charged at your service provider’s prevailing rate and may be monitored and recorded.

Virgin Money plc – Registered in England and Wales (Company No. 6952311). Registered Office – Jubilee House, Gosforth, Newcastle upon Tyne NE3 4PL. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. VM3302V4 (valid from 03.07.15)