Can I open a Virgin Money bank account online?

Yup. You can apply for a new transaction or savings bank account easily through the app, or join online – it just takes six simple steps and you’re done. If you’ve opened a Go Account, we’ll send you a Virgin Money Visa debit card in the mail, and you’re ready to start earning points towards epic rewards.

What do you need to open a bank account?

To open a new bank account with us you’ll need to be over 14 years of age, have an address in Australia, and send us at least one form of Australian ID – so we can confirm you are who you are. This could be something like your drivers’ licence or passport. Then you’re good to go.

Join through the Virgin Money app, or open an account online.

How do I open a joint bank account with Virgin Money?

When you apply to open an account online or through the Virgin Money app, you can select if you’re applying for a joint account.

We’ll then send a message to the person you want to open an account with, and the account will be opened once they’ve provided their details, including identification details. We’ll let you know when your account is open and ready to go.

Can I open a bank account without going into the bank?

Definitely You can apply for a bank account either through the Virgin Money mobile app or website without ever having to go to a physical bank. You'll need to download our app to manage your bank account.

What is Virgin Money Rewards?

Virgin Money Rewards is our loyalty program that gives back for the way you bank. Whether you're spending, saving or just doing your thing, we’re here to reward you with points - and a little motivation to build smarter money habits along the way. It's rewarding banking made easy, every day.

Important information

1. The Virgin Money Boost Saver variable interest rate is made up of a standard rate of 0.05% p.a. plus a bonus rate of 4.65% p.a. when the Monthly Criteria are met (outlined in the full terms and conditions) on the Virgin Money Go Account in the previous month.
2. The Virgin Money Grow Saver variable interest rate is made up of a standard rate of 0.05% p.a. plus a bonus rate of 1.95% p.a. that is applied when you make at least 1 deposit into your Grow Saver and make no more than 1 withdrawal during that month.
3. The Virgin Money mobile app is compatible with Android™ and iOS, minimum platform requirements apply. Android is a trademark of Google LLC. IOS is a trademark or registered trademark of Cisco in the U.S. and other countries and is used under license.
4. Participation in the Virgin Money Rewards Program is subject to Virgin Money Rewards Terms and Conditions.
5. Prepared by Virgin Money Australia, a division of Bank of Queensland Limited ABN 32009656740 Australian Credit Licence AFSL 244616, the issuer of the transaction and savings accounts. Information provided is of general nature only and does not take into account your personal financial situation, needs or objectives. As we don’t know your financial needs, we can’t advise whether the products will suit you and prior to making any decision you should obtain and consider the relevant terms and conditions of each product before making any decision about whether to acquire or continue to hold it. For full terms and conditions, including information on eligibility criteria and fees and charges visit forms-and-important-information.

Things you need to know

1. 1. You will earn 8 Virgin Money Points for any settled debit card purchases (not pending), direct debits and BPAY payments from your Virgin Money Go Account. For customers who open a Virgin Money Go Account jointly with another person, the points will be split and evenly allocated to both joint account holders of that account. For further information refer to our Virgin Money Rewards terms and conditions.
   2. Welcome Offer Criteria: The Virgin Money Go Account comes bundled with the Virgin Money Boost Saver. New Virgin Money Go Account customers will receive 5,000 Bonus Virgin Money Points when they make one (1) debit card purchase, direct debit or BPAY payment from their Virgin Money Go Account in the first 30 days from account opening. Debit card purchases must settle in the first 30 days from account opening (not pending). Cash withdrawals, deposits, refunds, reversals or credits to the Virgin Money Go Account, Pay Someone payments and internal transfers are excluded. For customers who open a Virgin Money Go Account jointly with another person, the Bonus Points will be split and evenly allocated to both joint account holders of that account once the Welcome Offer Criteria have been met. Virgin Money reserves the right to amend or withdraw this offer at any time without notice. A new customer is any person who does not currently or has not previously held a Virgin Money Go Account or Virgin Money Grow Saver. Offer ends 31 July 2025. For further information on the Virgin Money Rewards Program refer to our terms and conditions.
   3. Round-ups are transfers that you can elect to activate on your Go Accounts. By enabling this feature on your Go Account, funds are transferred from the selected Go Account to your nominated savings account each time you make a debit card transaction. The amount of the transfer will be up to the nearest $1 of the amount that the transaction takes place. Round-up transactions will not take place if by making the transaction your account would be Overdrawn. You can disable the round-up feature through the Mobile app at any time.
   4. Earn 5,000 Bonus Virgin Money Points when you introduce a Successful Referral who meets the Welcome Offer Criteria. Welcome Offer Criteria is subject to change. A successful referral must also:

· have not, at any time previously held a Virgin Money Go Account or Virgin Money Grow Saver;

· have used a unique referral link that is provided by Virgin Money as part of the Refer a Friend program which was shared by you.

Bonus Points will be allocated within 5 business days to you and your friend once your friend meets the eligibility criteria. While there is no limit to the number of friends you can refer under our Refer-a-Friend program, you will only receive Bonus Points for the first five (5) successful referrals you made in any month. A successful referral only qualifies you to receive one lot of 5,000 Bonus Points, irrespective of whether the person opens a single or a joint account. This offer cannot be used in conjunction with any other offer codes.

IMPORTANT: Please share your referral link responsibly and only refer close friends and family who might be genuinely interested in a Virgin Money Go Account. Specifically, you must not “spam” other individuals to open a Virgin Money Go Account via unsolicited email, direct mail, newsgroups, message boards, or any other means for purposes of referring a friend. You will only make direct referrals without using any merchant site, keyword bids, black hat SEO, paid advertisements (e.g., pay per click), or other similar methods. You must comply with all applicable laws and regulations, including without limitation those related to the Spam Act 2003 (Cth), trademark, and privacy laws.

We reserve the right to disqualify you from participating in any referral promotions if, in our reasonable opinion, you violated any of these terms, and you will forfeit all Virgin Money Points that have been allocated to your Points balance. We reserve the right to amend or withdraw this offer at any time without notice, provided that any Points that you have earned prior to such change or withdrawal will be subject to the terms that were in effect at the time it was earned.

1. 1. The Virgin Money Grow Saver highest Variable Interest Rate of 2.30% p.a. is made up of
      • a Base Interest Rate of 0.05% p.a.;
      • a Bonus Interest Rate of 1.95% p.a. if Monthly Criteria is met in that month; plus
      • a Notice Interest Rate of 0.30% p.a. if the Lock Saver Feature is enabled.

Monthly Criteria is met if you:
• Make at least 1 deposit into your Grow Saver Account in that month; and
• Make no more than 1 withdrawal (including any internal transfers or Pay Someone transfers) out of your Grow Saver.

For more information visit the Rates & Feessection.

1. 1. The Virgin Money Boost Saver Highest Variable Interest Rate is made up of:
      • Base Interest Rate of 0.05%p.a.;
      • Bonus Interest Rate of 4.65%p.a. if Monthly Criteria is met in the previous month; and
      • Notice Interest Rate of 0.30%p.a if the Lock Saver Feature is enabled.

32 days’ advance notice period applies to access funds when the Lock Saver Feature is enabled.

The Bonus Rate applies up to a combined total balance of $250,000 across all Boost Saver's that are held in the same name. Monthly Criteria will be met when both the following conditions are met:
• Deposit at least $1,000 into your Go Account from another financial institution in the previous calendar month; and
• Make at least 5 settled debit card purchases (not pending), direct debits or BPAY payments on your Go Account that settle in the previous calendar month from your Go Account.

Monthly Criteria is waived for customers between 14-17 years of age. For more information visit the Rates & Fees section.

1. 1. Transferring points into a travel program is subject to the Virgin Money Rewards terms and Conditions found here . You can transfer and convert your Virgin Money Points to a Travel Loyalty Program participant that you are an active member of. Points cannot be transferred to another person or to an account held jointly with another person. Travel Loyalty Program’s loyalty points cannot be converted to Virgin Money Points. Minimum and maximum redemption rates are set by us and vary across each program. Points transferred to a Travel Loyalty Program will be governed and subject to the Travel Loyalty Program terms and conditions and once transferred cannot be reversed.
   2. You can redeem points for flights and hotels available in the Rewards Hub. Flight and Hotel bookings made through the Virgin Money Rewards Program are operated by Ascenda Australia Pty Ltd and subject to Ascenda’s additional Booking and Travel Terms. Individual flight and hotel bookings may be subject to further terms and conditions stipulated by Ascenda’s travel partners. These additional terms will be made available to you by Ascenda at the time the relevant booking is made. Cancellations and changes to bookings may not be possible and additional fees may apply which are disclosed in the Rewards Hub.