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From the 31st October 2018, some new regulation is coming your way for Payment Accounts. It’s all about making the information you are given on fees for key services on Instant Savings Account(s) more consistent between banks. This involves the standardisation of terms used as well as their definitions. You can also view our Glossary of Terms, which will let you know what the change is to each term or phrase.
Existing customers can find out more about their other accounts on the Virgin Money website.
These documents inform you about the fees for using the main services linked to the payment account. It will help you to compare these fees with those of other accounts.
Instant Savings Account
Rates of interest are subject to change but are correct as at 1st March 2021.
|Personal savings products|
|Jumpstart Savers Account|
|£1,000 and over|
|£500 - £999|
|£250 - £499||
|£1 - £249|
|Headstart Savers Account (95 day notice account)||Current Gross*
|£1 and over||1.10||1.10|
|The gross interest rate payable is 1% above the Bank of England base rate.|
*Gross rate. Gross rate interest is the interest payable without taking account of any tax payable. If you earn interest over your Personal Savings Allowance you will be required to pay any tax due yourself directly to HM Revenue and Customs. If you would like to read more about your Personal Savings Allowance, please visit the Government website www.gov.uk.
+AER (Annual Equivalent Rate). The Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.
++Tax Free - is the rate payable when income is exempt from Income Tax.
From 14 August, we’ll stop setting aside money for payments due on a Monday, which means the money will still be in your account over the weekend. Please ensure you have enough money in your account for Direct Debits and standing orders due on the Monday (or the next working day after a bank holiday).Continue to Yorkshire Bank Internet Banking as normal
A new version of our app is now available – If you don’t receive automatic app updates, we recommend you update to the latest version now before proceeding.
From 14 August, we’ll stop setting aside money for payments due on a Monday, which means the money will still be in your account over the weekend. Please ensure you have enough money in your account for Direct Debits and standing orders due on the Monday (or the next working day after a bank holiday).Continue to Virgin Money Business Internet Banking