Virgin Money is offering ‘free wine’ worth £180 and 2.02% interest but only if you switch
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Many banks have been known for launching current account switching incentives from time to time, with a number of options currently out there, correct at the time of writing. Now, it seems Virgin Money is the latest financial services brand hoping to draw in new current account customers by enticing Britons with a new offer.
It first emerged this week, with Virgin Money writing on Twitter: “The Brighter Money Bundle has just landed.
“Switch to our Virgin Money Current Account and get your hands on 2.02 percent AER, a case of Virgin Wine & a Virgin Media discount of up to £225. See more below.”
Fergus Murphy, Group Personal Director at Virgin Money said: “We always want to offer our customers more, and the introduction of Brighter Money Bundles is the first step on our journey to reward customers with fantastic benefits from across the wider Virgin family.
“By giving exclusive access to the fantastic products and experiences that the Virgin family offers, alongside our brilliant banking service, we can disrupt the status quo in banking and give customers more reasons to come to Virgin Money.”
As part of the switch incentive bundle, customers are able to get a 15-bottle case of wine from Virgin Wines.
This is delivered straight to the customer’s door free of charge, Virgin Money says, and worth £180, excluding delivery.
“Once your account is open, and you’ve met the qualifying terms, we’ll email you a redemption code and special link,” the website states.
“Tap the link in the email to redeem your code with Virgin Wines. Please drink responsibly.”
There is also an alcohol free option, with this case being worth £75, excluding delivery.
The Virgin Money Current Account is currently paying 2.02 percent AER (2.00 percent gross per annum variable) on the first £1,000 of the account balance.
Furthermore, these customers will get a linked Instant Access savings account.
Money which is moved into this linked savings account earns 0.50 percent AER/gross per annum variable interest, paid quarterly.
Those who are new to Virgin Media may also be able to access a discount of up to £225 across selected 18-month Virgin Media bundles.
To qualify for the Virgin Money incentive, there are a number of steps to follow, which must be done within 31 days of the account opening date.
The Virgin Money Current Account must be applied for online, and it is only open new customers in the UK who are 18+.
The new customers must also complete a full bank account switch via the Current Account Switch Service.
To qualify, they must download and register for the Virgin Money mobile banking app, and transfer at least two Direct Debits to the new account.
In the guidelines, customers are directed not to cancel them before they are sent the offer code.
Finally, they must credit their linked Instant Access savings account with at least £1,000.
This amount of money must be kept in the account until they are sent the offer code.
The offer excludes M Account and existing Virgin Money, B, Clydesdale and Yorkshire Bank current account customers.
This includes any closures since September 30, 2020.
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