Account fee
$0.00
Payment options
Apple Pay, Google Pay, Samsung Pay
Interest rate
0% p.a.
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Mozo editorial review Virgin Money Go Account

Last updated: 22 April 2021.

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What's hot
  • No monthly fees
  • Comes bundled with the Virgin Money Boost Saver
  • Earn Virgin Money points on purchases (conditions apply)
What's not
  • 2.50% foreign exchange commission
Mozo snapshot

Are you keen to liven up your everyday banking with lots of bells and whistles? Well the Virgin Money Go Account could be for you! Not only does it come with a rewards program attached, but it’s also bundled with the Virgin Money Boost Saver. On top of all this, there are no monthly account fees and it’s available as a joint account.

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Key features

If you like the idea of taking care of your everyday banking and savings stash all in one go, and bagging some nifty rewards, then you might like the Virgin Money Go Account. Not only does this everyday transaction account come as part of a bundle with Virgin Money’s Boost Saver, but it also offers the opportunity to earn points with the Virgin Money rewards program.

The Go Account comes with a few monthly conditions that must be met in order to earn the full 1.20% p.a. ongoing interest rate available with the Boost Saver and Virgin Money points on transactions. The monthly conditions are:

  • Over 25-year-olds must deposit at least $2,000 or more into their Go Account each month, from an external source. They must also make at least 5 purchases, direct debits or BPAY payments and these must be settled within the same month.

  • 18 to 24-year olds must deposit at least $1,000 or more into their Go Account each month, from an external source. Same as above, they must also make a minimum of 5 purchases, direct debits or BPAY payments, which must also be settled within the month.

  • 14 to 17-year olds do not have to meet any conditions to receive all the perks.

Once you have met these conditions, any purchase, direct debit or BPAY payment you make afterwards will earn you eight Virgin Money Points. On top of this, if you sign up before 31 July 2021 and meet all the conditions within the first 30 days, you could also bag yourself 5,000 bonus Virgin Money Points!

A few things you can use your Virgin Money Points for include cashback and gift cards from Virgin Money’s gift card partners. You can even use the points to erase a purchase! Regretting that hot chocolate you bought at lunchtime? No problem, if you have enough points you can pretend it never happened. Plus, if you have a joint account, you can also give your points to your account partner.

Of course, as with all banking products there are a few fees to be aware of. These include a $5 overseas ATM fee and a 2.50% foreign exchange commission. It should also be noted that besides ATM access, this account is only available through the Virgin Money app on iOS or Android.

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Who is it good for

This account would be suited to someone who enjoys earning points and feels confident that they can meet the monthly conditions.

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Any catches

The Virgin Money Go Account may not be the best option to take with you on your travels, as it charges a $5 overseas ATM fee and 2.50% foreign exchange commission.

Details

Rates and fees information correct as at 13 May 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Balances from $0: 0.00% p.a.

  • n/a

  • n/a

Fees
  • $0.00

  • n/a

  • n/a

  • $0.00

  • n/a

  • $0.00

  • $5.00

  • n/a

  • $0.00

  • n/a

  • $0.00

  • n/a

  • $5.00

  • 2.50%

  • $0.00 monthly

Other financial bits
  • $0.00

  • $0.00

Features
  • $2,000.00

  • no

  • no

  • yes

  • yes

  • no

  • yes

  • no

  • Bank and saving account only accessible through iOS or Android app.

  • none

Atm card
  • none

  • none

  • none

Debit card
  • $5.00

  • $0.00

  • 2.50%

Payment options

Apple Pay, Google Pay, Samsung Pay

Customer Reviews

This product is not currently reviewed.

Thumbnail icon for Virgin Money

About Virgin Money

Virgin Money is a financial services company that differentiates itself with a high focus on customer service and a strong brand. It aims to offer great value banking and insurance products designed around what customers really want. In Australia, Virgin Money's banking products include savings accounts, credit cards, super and it also has a range of general insurance products including home and contents, car and travel insurance.

See Virgin Money bank accounts

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