Looking to open a new account? Check out our research on the Virgin bank account

When you think of Virgin, maybe airlines, music or mibile phones spring to mind. Well, this ever-expanding company also offers bank accounts that can be operated completely online, 24 days, 7 days a week!

What is it all about? Well, for as little as £1, you can open this Virgin bank account immediately! Once your account is established you can start to deposit more money in it either via the online service or just by giving your local Virgin bank a call. You can even set up a monthly direct debit, whereby you choose the day of the month you want Virgin to collect your payments on so you do not have to think about keeping your savings topped up.

Another great benefit of having a Virgin bank account is that you can access your savings whenever you want. Once you have deposited some funds, you just have to wait around 10 working days for it to be processed, then you can take it out again whenever you need.

Now, to the most important part. The interest rate! The current interest rate at the moment is 0.1%, however this is certainly subject to change. It varies depending on how the economy is going. You earn interest based on the daily balance of your account and the interest is paid to you once a year.

So, how can you open a Virgin bank account? Easy! Just log on to the Virgin Money website and click on the Request a Pack button on the right side of the page and one will be sent to you via post. You have to be 18 years or over to open this bank account, a resident of the UK and holding a current account with a UK bank.

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