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Virgin Money Charity Choice Account and Club & Societies Account
Ethos / Approach to banking
At Virgin Money, our purpose is ‘Making You Happier About Money’. There are hundreds of things to worry about with money, but we don’t want our bank to be one of them. As part of our ambition to be the UK’s best digital bank, we want to make banking better.
We want to make our Club and Charity accounts a Modern Money Experience with access to digital tools and rewarding experiences.
What is the name of your account(s) and who is eligible?
- Charity Choice Account
- Club & Societies Account
Which types of Charitable Entities are you able to offer accounts to?
- Registered Charity (CIO, SCIO)
- Not for profit organisations
What branch-based services do you offer:
- Cash in
- Cash out
- Payments
- Cheque Deposits
Customers are free to use the Stores for cash, cheque deposits, though we encourage our customers to use online services where possible as it is more secure and efficient for them. Click here for our store finder.
If branch-based services differ on a regional basis, do you have a postcode search function that clients can use?
No.
Do you offer any services through the Post Office or Banking Hubs? Please specify.
Yes. You can use Post Offices and Banking Hubs for basic services, like making deposits; balance enquiries; paying bills and withdrawing cash.
What online services do you offer:
Online and Mobile Banking
- Make, amend and cancel payments
- Move money between accounts and view transactions
- Have limited users, with the ability to set their access including payment limits
https://uk.virginmoney.com/business/ways-of-banking/internet-banking/
https://uk.virginmoney.com/business/ways-of-banking/app-features/
How do you add someone to the mandate? Having the right individuals on the mandate is critical for a charity to bank effectively.
By visiting a Store or by calling the Business Team. If you need to make any changes to your account signatories, just visit your local Store (with the relevant Identification) or call our team on 0800 345 7365.
How do you add someone to online banking?
Customers are able to add users to online banking through their Business Internet Banking facility.
Do your Current accounts offer credit interest or is a separate Deposit account required?
No. A separate deposit account is required for interest bearing accounts.
Debit cards allowed on the account?
Yes.
Minimum opening deposit amount required?
£0.
Free banking and any requirements? (turnover)
Yes. Registered charities with an annual turnover less than £1 million will be eligible for free day-to-day banking*
Club & Societies benefit from free day-to-day* banking when you make 10 or less transactions per month.
*those over £1m million will be to subject to fees.
Details of charges/fees which apply can be found here.
Fee Information Document (link to) / Tariff
Please see our Business Banking Tarif guide.
Do you offer international payments? Do you have any advice for charitable entities making overseas payments?
Yes. Please note that some countries and areas may be deemed high risk and there may be restrictions in place
Please review terms carefully if you are making payments in other currencies due to exchange rates, Euro / $. There may be additional fees to pay depending on how and where you are sending money to
Additional services available
Yes. A range of support tools to help you manage and grow your business.
Dual authorisation for payments
Yes.
Dedicated phone line
Yes. Dedicated Business Banking Contact Centre.
Information correct as at July 2024
Best for
- Dedicated phone line
- Dual Authorisation
- Free banking
- Post Office / Banking Hub services