Virgin Money

Virgin Money Review by Rating: 2 out of 5

Virgin Money Review

Virgin Money has been voted 2/5 or 46% out of 411 recommendations. has researched their Foreign Exchange Business and you should read the full review before using their Currency Transfers.

Virgin Money

Who are Virgin Money?

So who are Virgin Money? Virgin Money is a UK-based bank and financial services company founded by Sir Richard Branson in March 1995. Virgin bought Northern Rock plc in January 2012 and rebranded the business as Virgin Money. As a UK bank, Virgin Money offers more than 15 services including credit cards, mortgages, stocks and shares, pension accounts and pet insurance. International transfers and travel money are among the services available in the UK, while other products like credit cards are the only services available in South Africa. Some insurance products and the credit cards are available through Virgin Australia.

Since October 2015, Virgin Money has partnered with WorldFirst to provide International Transfer services. With more than 75,000 people and businesses exchanging more than £26billion through WorldFirst, Virgin Money’s website includes a WorldFirst micro-site, which is branded as Virgin Money.

Services Offered

Virgin Money is partnered with WorldFirst, who transact more than £5 billion annually. As WorldFirst is able to access interbank rates, these savings are passed on the Virgin Money International Transfer service. If client has already registered with Virgin and has a better quote from a competitor, Virgin Money ( or rather, WorldFirst) will endeavour to beat the exchange rate.

Virgin Money Virgin Money / Commission-free currency with great exchange rates

Why should I use Virgin Money?

Currency calculator and the day’s live exchange rates on Virgin Money show rate of GBP to USD at 1.38, although the mid-market rate at the time was 1.42, so there’s that fee for purchasing travel money. Additionally payment by both Visa and MasterCard credit cards costs an 1.5% handing fee. Provided by Travelex, Virgin Money’s travel money doesn’t compete with airport bureau de change rates. Virgin money can be ordered online and collected at Virgin Money stores, Travelex airport shops and-with a Virgin Airline ticket, also picked up at MoneyCorp airport stores.

Virgin Money’s site seeks to make banking feel groovy. Hippy dog images promote ’groovy readymade ISAs’ and pigs likewise promise investors ‘kickass ISAs’. Your Money has awarded Virgin Money for best online cash ISA provider and best direct stock and share provider, which gives these products the weight of reliability lacking elsewhere on the site. The range of financial products Virgin Money offers feel strangely packaged given that most clients will seek a more sober approach to investments, credit cards and banking. Rather than offer values other banks don’t, Virgin Money re-packages the same services with a youthful irreverence that doesn’t inspire trust.

Commission-free currency with great exchange rates

TRUSTPILOT rated Bad at 2.2 with 36 reviews. The full range of Virgin Money bank services was found untrustworthy by reviewers who cited very poor customer service across all sectors of services. Virgin Money’s inexperience was seen as very detrimental to fostering stable products banking customers expect. None specifically cited transfers-which are actually carried out through WorldFirst, and so may escape the issues seen with all other Virgin Money services.

ReviewCentre rates Virgin Money Services at 1.75 out of 5 stars, with 17% satisfaction rate out of 47 reviews. In every case customer service let down clients with mortgage, savings and insurance complications caused by Virgin Money service complications.

Business Information

Registered office address: United Kingdom, Australia, South Africa

Incorporated on: 1995 by Richard Branson