Virgin Money Plc

Business Focus

retail banking

Virgin Money a member of Virgin Group which provides a range of financial products including current and savings accounts, investments, mortgages, payment cards, insurance and pensions. On 21 October 2019, the business of Virgin Money plc was transferred to Clydesdale Bank PLC.

Services

retail banking

Clients

individuals
companies

Area Served

GBUnited Kingdom

Products

current accounts
prepaid cards
credit cards
savings accounts
time deposit accounts
ISA accounts
stocks and shares ISAs
unit trusts
life insurance
travel insurance
mortgage loans
personal pensions
workplace pensions
children’s pensions
travel money

International Transfers

SWIFT Transfers
SEPA Credit Transfers
SEPA Instant Transfers
SEPA Direct Debits
FasterPayments

See Also

Account Opening

Becoming a client of Virgin Money Plc can be done in a few steps:

1.
Submit online application
2.
Visit bank branch

Due to regulatory requirements Virgin Money Plc performs KYC/AML checks when establishing business relationships with a new client. While onboarding a private individual Virgin Money Plc will ask him/her to provide the following documents: passport or ID card; utility bill; income details. For corporate clients Virgin Money Plc will ask to provide corporate documentation as well as information about controlling persons. Virgin Money Plc may request additional documentation or information depending on the case. Virgin Money Plc performs client's identity verification via branch visit.

Ways to Bank

Virgin Money Plc delivers its products and services through both direct and indirect channels, namely:
online banking
retail store

Common Shares

Listed Entity
VIRGIN MONEY UK PLC
ISIN
GB00BD6GN030
Stock Exchange
London Stock ExchangeLondon Stock Exchange (XLON)
Ticker
VMUK

See Also

Financials

Total Assets of Virgin Money Plc
Annual_profit of Virgin Money Plc
Market Share of Virgin Money Plc
Total Assets (2019)
127.20 mln GBP  (-99.72%)
Annual Profit (2019)
99.00 mln GBP  (+39.44%)

Virgin Money Plc is the 174th largest bank in the United Kingdom in terms of total assets. In 2019 its total assets were 127,20 mln GBP, providing the bank with the market share of 0.00%. In 2019 the bank's annual profit was 99,00 mln GBP.

Credit Ratings

Fitch: BBB+
AAA
AA+, AA, AA-
A+, A, A-
BBB+, BBB, BBB-
BB+, BB, BB-
B+, B, B-
CCC, CC, C, RD, D
Moodys: -
Aaa
Aa1, Aa2, Aa3
A1, A2, A3
Baa1, Baa2, Baa3, Baa4
Ba1, Ba2, Ba3
B1, B2, B3
Caa1, Caa2, Caa3, Ca

Virgin Money Plc is rated by Fitch. Long-term credit rating assigned to the bank by Fitch is BBB+ (good credit quality).

Deposit Guarantee

Guarantee Fund
Financial Services Compensation Scheme (FSCS)Financial Services Compensation Scheme (FSCS)
Protected Amount
up to 85,000 GBP
Eligible Depositors
private individuals
companies
Covered Accounts
current accounts
savings accounts
time deposit accounts

Virgin Money Plc participates in the deposit guarantee scheme of the United Kingdom. This deposit guarantee scheme applies to current accounts, savings accounts, time deposit accounts made by private individuals, companies and covers up to up to 85,000 GBP per bank per depositor. Virgin Money Plc is a member of Financial Services Compensation Scheme (FSCS) and makes its contributions into it.

Contacts

Northern Rock House, Gosforth, NE3 4PL, Newcastle-Upon-Tyne, United Kingdom
+44 08456008401
https://uk.virginmoney.com/

Virgin Money Plc is headquartered in Newcastle-Upon-Tyne.

Social Networks

Virgin Money Plc has profiles at the following social networks:

Bank Identifiers

BIC (SWIFT)
NRNBGB22XXX
LEI
213800NISCV8CQI6LW27
Company Number
06952311
MFI ID
GB2000

Bank Supervision

Supervised By
Financial Conduct Authority
Reference Number
503963

Virgin Money Plc is authorized and supervised by the Financial Conduct Authority (reference number 503963).

Bank History

Start Date
July 2009

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