Virgin Red and Virgin Money give new customers 20,000 reasons to switch

Virgin Money debit card on iPhone on the beach.
Virgin Money
Image of Katie Fiddaman
by Katie Fiddaman
13 April 2022

Virgin Red and Virgin Money have teamed up to offer new Virgin Money M Plus Account and Virgin Money Club M Account customers 20,000 Virgin Points to spend with rewards club Virgin Red as part of Virgin Money’s latest current account switching offer.

Switchers will also benefit from 2.02% AER on balances up to £1,000 plus 1% AER variable on their linked savings account on balances up to £25,000 and 0.50% AER variable on balances over £25,000. 

Hugh Chater, Chief Commercial Officer at Virgin Money says: “We’re really excited to be partnering with Virgin Red on our newest switching offer. With a 20,000 Virgin Points bonus, as well as a great 1% interest rate on the linked savings account, there really is something for everyone. The only real challenge new customers will have is deciding how to spend their 20,000 Virgin Points. To top it off, all Virgin Money customers can also sign up to our Virgin Money Cashback programme to start earning cashback on everyday spending on their Virgin Money debit card.”

How will you spend 20,000 points? 

For the travel lover, Virgin Red is your passport to exploring more, so whether you want to sail the seven seas or soar through the skies, there’s experiences for all ages, appetites, and adventurers. 20,000 Virgin Points could take you to the Bahamas or St Lucia and back again*. 

For the frazzled parents, the little things are often actually the big things – it’s about finding the small wins every day. Make sure you’re first in line to see the latest releases when you spend your 20,000 Virgin Points on 14 VUE cinema tickets or enjoy a six-month Rebel Book Club membership (11,200 Virgin Points) plus a paintballing day for four people (7,750 Virgin Points). Alternatively, treat yourself to a 12-bottle case of Virgin Wines to enjoy from your sofa for 19,000 Virgin Points.

The Greggs enthusiast can choose to spend 20,000 Virgin Points on 100 sausage rolls or vegan sausage rolls, or instead opt for over 60 regular hot drinks or 100 doughnuts or muffins.

Bee Bakare Sofar Sounds
Sofar Sounds

The music lover can get four lots of Sofar Sounds tickets for two (19,000 Virgin Points).

Fans of a date night can enjoy a three-course meal with wine for two at Brasserie Blanc (8,000 Virgin Points) as well as a six-bottle case of Virgin Wines (9,000 Virgin Points), or they could elevate date night with an Astronaut Experience for two at Space Store for 18,000 Virgin Points. 

Andrea Burchett, International and Strategic Development Director at Virgin Red says: “We are delighted to partner with Virgin Money to offer members the opportunity to earn an incredible 20,000 Virgin Points when switching their current account. With more than 200 rewards, members won’t be short of options to spend their points on – whether it’s the smaller things that make the everyday better like a sausage roll, hot drink or cinema ticket or a bigger experience like enjoying a concert from the Virgin Red Room or a trip to Barbados – the possibilities are endless!”

The small print

The new Brighter Money Bundle replaces the previous switching incentive, which was withdrawn at midnight on 12/04/22.

This offer is available to all new M Plus and Club M customers who apply online – via the website or via our Mobile Banking app – and complete a full switch using the Current Account Switching Service, including two direct debits set-up on the account, downloading and logging in to the mobile app and who deposit at least £1,000 into the linked savings account within 45 days of the account opening.

This offer excludes existing M, M Plus and Club M customers, closures since 31/01/22 and those who’ve taken up previous bundles or Virgin Red offers for switching to Virgin Money.

Eligible customers will be emailed a unique, single use promo code. The email will include instructions for how to redeem via Virgin Red or mobile app. Customers must register to become a Rewards Club member to redeem their Red Points and start spending. 

*For flight redemptions, Virgin Atlantic Flying Club membership is also required. Available offers and the points cost for each offer can change. Flight points cost based on standard season price in Economy. Reward flights subject to availability. Taxes, fees and carrier imposed surcharges apply, will depend on choice of cabin, departure airport and destination and are subject to change. Virgin Red programme terms and Virgin Atlantic Flying Club terms apply.

Virgin Money Cashback is the new way to earn cashback on everyday shopping at participating retailers. Customers can sign into the Virgin Money Mobile Banking app, tap ‘Discover’ and select ‘Virgin Money Cashback’ to find their offers and start earning cashback. Once a transaction goes through, earned cashback will be sent to the customer’s Virgin Money Cashback account.