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.
Plus it won several 2023 Mozo Experts Choice Awards for several of its deposit products.
Approval with Virgin Money was simple and effortless. Since signing up, they've always kept us up to date with updates and changes so we trust the communications they send. Adding to this, there are decent perks through Virgin which come as a nice surprise when making the inevitable mortgage payments.
One you get the hang of the product linked to the high interest savings account then it’s effortless.
It is an average product. It does offer free travel insurance and a $129 flight voucher each year, but you have to call them to arrange the voucher which is a bit dodgy on their part. It's like they want you to forget (which I have). You pay for it in the annual fee though.
First account I had that offered a round up option. Rewards are a nice bonus.
I had a car insurance policy and then I had to make a claim. My car had been broken into and items stolen. Police were involved. The claim, and insurance policy, ended when customer service said... "we just need you to pay the $600 excess", to which I replied, "you're charging me $600 excess to give me $500 to cover the cost of my laptop, earbuds, etc. From the car?" She never understood why I was upset...
Just a clear robbery. They initially accepted to cover the cost of the leaking after the quotes provided by their trustees (not mine), but then they called after 3 weeks and said because the cost is more than $25 k we need to reassess. They refused to pay after the reassessment and brought up some items from their policy that based on that they can refuse to cover the cost for any leaking. They actually can use this for any issues to not paying customers THEY DON’T cover any leaking at all!!!
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