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Virgin Money targets account switchers

Written by: Emma Lunn
The bank’s Brighter Money Bundle offers people switching their current account a £100 Virgin Experience Day gift card.

Switchers will also benefit from 5.02% AER variable on balances up to £1,000 for the first 12 months.

To get the deal, consumers need to switch their current account to the Virgin Money M Plus Account or Virgin Money Club M Account.

Virgin Experience Days include adrenaline-packed adventures such as helicopter tours and flying lessons, as well as track days in super cars, or zen-like options such as spa days, afternoon teas, gourmet dining experiences and UK getaways.

Account holders can earn Virgin Money Cashback on their everyday spending at participating retailers. Retailers taking part in the scheme include Costa, Anthropologie, L’Occitane, WHSmith, Sweaty Betty and LNER.

Customers can transfer cashback to their Virgin Money current account or trade up for e-gift cards to use online or instore at select retailers, including John Lewis, Cineworld and Marks & Spencer.

Fergus Murphy, chief customer experience officer at Virgin Money, said: “Our first Brighter Money Bundle offer of 2022 allows customers to choose between a daring adventure, a luxurious treat and much more with their Virgin Experience Day voucher.

“It’s the perfect excuse to plan time in with friends and family and look forward to a good year ahead. We’ve added a bonus interest rate meaning customers will earn 5.02% AER for 12 months and, on top of that, we now offer customers cashback on their current account so there’s even more opportunity for customers to earn as they spend.”

Customers switching to the Virgin Money M Plus Account or the Virgin Money Club M Account will benefit from credit interest of 2.02% AER (variable) on current account balances up to £1,000, as well as a bonus rate of 3% AER fixed for 12 months on balances up to £1,000.

Santander also launched a switching offer this week, offering £140 to account switchers.

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