Virgin Money

Who they are

Virgin Money has roots stretching back over 180 years. Clydesdale Bank was founded in Glasgow in 1838, and Yorkshire Bank followed in 1859.

In 2018 CYBG - the owner of those two banks - acquired Virgin Money for £1.7 billion and announced that the Clydesdale and Yorkshire brands would be phased out in favour of the Virgin name. The result was a national, digitally-focused challenger built on deep regional banking roots.

The biggest change in recent memory, though, is ownership. Nationwide completed its £2.9 billion takeover of Virgin Money on 2 April 2026, absorbing 6.6 million customers into the UK's largest building society.

The Virgin Money brand remains, and day-to-day banking is unchanged - same account numbers, same app, same interest rates. A full rebrand to Nationwide is expected over the coming years.

Savings accounts

Virgin Money currently offers a small but varied range of savings products, all openable from as little as £1.

The Double Take E-Saver pays 4.16% AER variable on an easy access basis, but the "Double Take" name is a fair warning - you are limited to two withdrawals per calendar year, so it sits somewhere between a true easy access account and a notice account in practice. If you want more flexibility, the M Plus Saver offers genuine instant access, though at a much lower variable rate of 1.75% AER.

On the ISA side, the picture is more compelling. The 1 Year Fixed Rate Cash E-ISA pays 4.77% AER - a competitive fixed rate - with no access until maturity and a £1 minimum. The Double Take E-ISA mirrors the saver with the same two-withdrawal-per-year restriction at 4.15% AER, while the M Access ISA offers fully flexible access at 3.25% AER. All accounts are eligible from £1 (the M Access ISA has no stated minimum).

A note on FSCS protection

This is the detail that matters most right now. Nationwide and Virgin Money now share one FSCS banking licence and one £120,000 protection limit. If you hold savings across both Nationwide and Virgin Money, the combined total counts toward that single £120,000 limit. Virgin Money's eligible deposits are protected by the FSCS up to £120,000 per person, per authorised firm (banking licence). This allowance is shared with Clydesdale Bank, Yorkshire Bank. If you already bank with Nationwide, factor that in before deciding how much to place here.

Is it right for you?

Virgin Money's standout product is the 1 Year Fixed Rate Cash E-ISA, which offers a strong fixed return for savers who can commit for a year and want their interest sheltered from tax. The Double Take accounts suit savers who rarely need to touch their money but want a headline rate above the average easy access market - just be honest with yourself about whether two withdrawals a year is enough. The M Plus Saver and M Access ISA are more suitable as linked accounts for day-to-day flexibility, rather than as primary savings vehicles.

There is no current account switch offer to factor in at the moment, and the ongoing Nationwide integration means some product and brand uncertainty ahead. For most savers, Virgin Money is a solid, FSCS-backed option - just check that your combined Nationwide balance stays within the shared £120,000 limit.

As always, rates are variable and can change at any time - check the live figures shown on this page before you apply.