Virgin Money launches account for small businesses
Good news for start-ups, Virgin Money has launched a brand new current account aimed specifically at small businesses – and it comes with loads of benefits.
The M Account for Business has no monthly fee, free digital transactions, and has been designed with entrepreneurs, start-ups and small businesses with an annual turnover of less than £1 million in mind.
Customers can manage their accounts via the Virgin Money app or online – and it comes with a heap of extras. Businesses can enjoy the best cashback offer available – 0.35% on all debit card purchases until the end of January 2022 (it goes down to 0.25% after that). Plus, all business customers will be eligible for an optional £1,000 overdraft.
Virgin Money business customers can also access discounts through the Mastercard Business Savings programme when they use their M Account for Business debit card with certain merchants – including selected hotels, restaurants and car hire.
For entrepreneurs looking for some expert advice on growing their business, they can make use of Virgin Money’s partnership with Virgin StartUp – the Virgin Group’s not-for-profit organisation that focuses on supporting business founders with guidance, funding and mentorship. Founders can join free digital events on specialist topics, use free digital resources to tackle knowledge gaps, and get discounts on Masterclasses with business leaders.
Graeme Sands, Interim Head of Business Banking, at Virgin Money said: “The Virgin name is synonymous with entrepreneurship, so we wanted to develop a proposition that made business banking easy for start-ups needing their first business current account. Customers are able to do all their day-to-day banking via the app, but have our support if they need it.
“Digital-savvy businesses want an easy and efficient way to manage their finances and we have developed a mass-market, digital-first product that not only offers a range of real-world services, but also comes with no monthly fee. Costs are paramount in the early stages of a new business, so we’re supporting small businesses in a way that will help them grow. And when they are ready to move on, we have a range of products to support that next stage of their business journey.”
Visit Virgin Money to find out more.