How do you compare bank accounts?

To compare bank accounts, we recommend reviewing the features, account fees, interest rates, as well as benefits and rewards of each account to find one that suits your needs. Luckily, we have broken all of these elements down in the information above. This will allow you to find the best features and rates for your needs.

What is an account keeping fee?

An account keeping fee, also known as a monthly service fee or maintenance fee, is a charge that a bank or financial institution may apply to your account for managing and maintaining it. This fee covers the cost of administering your account, providing services such as online and mobile banking, and processing transactions. Virgin Money does not charge any monthly account keeping fees or ATM fees on any of our transaction or saving accounts.

Why should I compare savings accounts?

Comparing savings accounts can help you find the best fit for your financial needs. It allows you to evaluate different accounts based on your specific requirements, such as low fees, high interest, or excellent customer service.

How often should I compare bank and savings accounts?

It's a good idea to compare bank accounts annually, or whenever your financial situation changes. This ensures you're always getting the best features and rates for your needs.

Can I switch to a different bank account after comparing?

Definitely. If you find a bank account that works better for you, you can apply for a new account and switch over. Virgin Money offers assistance with the switching process, and there are free independent financial counselling services that can also help you with your banking decisions.

Is it free to compare bank accounts on Virgin Money?

Yes, it's completely free to compare bank accounts on the Virgin Money website. We believe in helping our customers make informed financial decisions.

Important information

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 4.40% 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.

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.

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.

Participation in the Virgin Money Rewards Program is subject to Virgin Money Rewards Terms and Conditions.

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. The Virgin Money Boost Saver variable Base interest rate plus Bonus interest rate is made up of:
      • Base interest rate of 0.05% p.a. and
      • Bonus interest rate of 4.40% p.a. if Monthly Criteria is met in the previous calendar month.

The Bonus interest rate applies up to a combined balance of $250,000 on all your Boost Saver's held in the same name as your Virgin Money Go Account. 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 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. Subject to the terms and conditions of the Virgin Money Rewards program available here.
   2. The Grow Saver Bonus Interest Rate is unlocked for any calendar month where the below criteria are met during that month:

- Make at least 1 deposit into your Grow Saver; and
- Make no more than 1 withdrawal (including any internal transfers or Pay Someone transfers) out of your Grow Saver

1. 1. 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.
   2. Visit Apple Support for a list of compatible Apple Pay devices.
   3. Samsung Pay is only compatible with selected Samsung devices. For full list of compatible devices visit Samsung.
   4. Google Pay is a trademark of Google LLC. Google Pay is currently only available on the Virgin Money Go account. It is not available on Virgin Money credit cards.
   5. For customers who open a Virgin Money Go Account jointly with another person, points earned on purchases, direct debits or BPAY payments will be split and evenly allocated to both joint account holders of that account. Any Bonus Points you earn through meeting conditions of a special offer that is made to you will not be split and the full amount of Bonus Points will be allocated to you.
   6. From time to time we may offer you the ability to earn Bonus Points or other benefits with selected partners. Specific offer terms will be set out individual conditions at the time the offer is made to you.
   7. 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 4.40%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.