Choose the version of this product that suits you best
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Boost Saver with Go Account |
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Boost Saver with Go Account - Lock Saver Feature |
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Boost Saver with Go Account (Under 18 years old) |
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Boost Saver with Go Account (Under 18 years old) (Lock Saver Feature) |
Like the sound of earning reward points and zero monthly account fees? Well, you might be interested in this bundled offering from Virgin Money. With this you will get a savings and everyday transaction account all in one, plus plenty of nifty features including the ability to set multiple savings goals, access to insights and data and a saving round-up tool.
If you like the idea of your bank and savings account being tied up together with a neat little bow, then you will likely be interested in Virgin Money’s combined Boost Saver and Go Account. With this account, you could get a maximum rate up to 5.35% p.a. when you meet the monthly criteria and enable the Lock Saver Feature. This is made up of a 0.30% notice interest rate, 0.05% p.a. standard variable rate and 5.00% p.a. bonus rate. Monthly conditions to earn the bonus rate vary depending on your age:
14 to 17 year olds do not have to meet any conditions to earn the full rate.
Over 18 year olds must deposit at least $1,000 from an external account and also make five settled purchases, BPAY payments or direct debits.
If you meet all these conditions each month, you'll be able to earn the full interest rate.
Virgin Money also lets you be able to bag eight Virgin Money Points per settled transaction (no conditions required). You can redeem them for cash back into your savings accounts or for gift cards. Or if you like you can even use the points to pay for a purchase you’ve already made. Regretting buying lunch instead of doing meal prep? If you have enough points, you might just be able to erase it and pretend it never happened.
On top of all this, new customers can bag 5,000 bonus Virgin Money Points when they open a Virgin Money Go Account and make at least 1 debit card purchases or direct debits in the first 30 days. Offer ends 31 July 2024(T&Cs apply).
Of course, as with any bank or savings account there are a few cons to take into account. If you have a bigger savings stash for instance, this may not be the account for you. That’s because bonus interest can only be earned on balances up to $250,000. Anything over $250,000 and your interest rate will drop to 0.05% p.a.
Plus if you’re ever overseas or you ever do any shopping on international websites, it’s good to be mindful of the 2.50% foreign exchange commission and $5 overseas ATM fee.
This account might be more suited to a serious saver who loves taking advantage of perks such as rewards programs and wants the convenience of bundling their spending and saving together.
If you fall into the over 18 age category and you don’t have a monthly income over $1,000, then this account may not be for you. There are a fair few conditions to meet with this particular account and if you can’t do that you won’t be able to earn the full interest rate or any of the other perks on offer.
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Balances from $0: 0.05% p.a. |
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Balances from $0: 5.05% p.a. |
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Bonus interest 5.05% is made up of the Base rate of 0.05% and Bonus rate of 5.00%. It only applies when you deposit $1,000 into your Go Account and make 5 debit card purchases, direct debit or BPAY payments in the previous month. |
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$0.00 |
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n/a |
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Unlimited Internal Transfers to your Virgin Money Go Account |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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$0.00 |
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n/a |
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$0.00 |
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$0.00 |
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Monthly |
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no |
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n/a |
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no |
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no |
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no |
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no |
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no |
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no |
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yes |
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yes |
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no |
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Bank and savings account only accessible through iOS or Android app. |
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New customers receive 5,000 Virgin Money Points when opening a new Go Account with at least one settled eligible transaction in the first 30 days. Offer ends 31 July 2024. The Lock Saver Feature available earn an extra 0.30% p.a. T&Cs apply. |
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none |
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Balances from $0: 0.05% p.a. |
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Balances from $0: 5.35% p.a. |
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Bonus interest 5.35% is made up of the Base rate of 0.05%, Bonus rate of 5.00% and Notice Interest Rate of 0.30%. It only applies when you deposit $1,000 into your Go Account and make 5 debit card purchases, direct debit or BPAY payments in the previous month and enable the Lock Saver feature. |
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$0.00 |
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n/a |
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Unlimited Internal Transfers to your Virgin Money Go Account |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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$0.00 |
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n/a |
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$0.00 |
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$0.00 |
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Monthly |
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no |
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n/a |
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no |
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no |
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no |
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no |
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no |
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no |
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yes |
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yes |
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no |
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Bank and savings account only accessible through iOS or Android app. |
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New customers receive 5,000 Virgin Money Points when opening a new Go Account with at least one settled eligible transaction in the first 30 days. Offer ends 31 July 2024. |
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none |
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Balances from $0: 0.05% p.a. |
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Balances from $0: 5.05% p.a. |
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Bonus rate of 5.05% is made up of the Base rate of 0.05% and Bonus rate of 5.00%. |
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$0.00 |
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n/a |
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Unlimited Internal Transfers to your Virgin Money Go Account |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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$0.00 |
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n/a |
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$0.00 |
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$0.00 |
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Monthly |
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no |
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n/a |
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no |
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no |
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no |
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no |
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no |
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no |
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yes |
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yes |
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no |
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Bank and savings account only accessible through iOS or Android app. |
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New customers receive 5,000 Virgin Money Points when opening a new Go Account with at least one settled eligible transaction in the first 30 days. Offer ends 31 July 2024. The Lock Saver Feature available earn an extra 0.30% p.a. T&Cs apply. |
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Under 18 |
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Balances from $0: 0.05% p.a. |
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Balances from $0: 5.35% p.a. |
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Bonus interest of 5.35% is made up of the Base rate of 0.05%, Bonus rate of 5.00% and Notice Interest Rate of 0.30%, must enable the Lock Saver Feature. 32 days notice for withdrawal and T&Cs apply. |
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$0.00 |
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n/a |
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Unlimited Internal Transfers to your Virgin Money Go Account |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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$0.00 |
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n/a |
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$0.00 |
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$0.00 |
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Monthly |
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no |
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n/a |
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no |
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no |
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no |
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no |
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no |
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no |
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yes |
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yes |
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no |
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Bank and savings account only accessible through iOS or Android app. |
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New customers receive 5,000 Virgin Money Points when opening a new Go Account with at least one settled eligible transaction in the first 30 days. Offer ends 31 July 2024. |
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Under 18 |
One you get the hang of the product linked to the high interest savings account then it’s effortless.
Read full reviewOne you get the hang of the product linked to the high interest savings account then it’s effortless.
I switched to Virgin Money earlier in the year and the experience has been excellent. It has been really easy to set up and manage ongoing. The interest rate is very competitive (which is great when you're putting away decent money each month). The app is incredibly easy to use and card easily added to digital wallet. Transfers to other banks are also quick Haven't had to interact with customer service yet, so can't make a comment here. Lock in saver can be difficult if you need to access money quickly (30 days' notice needed). But worth it for the higher interest rate. Suggest you have a reserve somewhere else
Read full reviewI switched to Virgin Money earlier in the year and the experience has been excellent. It has been really easy to set up and manage ongoing. The interest rate is very competitive (which is great when you're putting away decent money each month). The app is incredibly easy to use and card easily added to digital wallet. Transfers to other banks are also quick Haven't had to interact with customer service yet, so can't make a comment here. Lock in saver can be difficult if you need to access money quickly (30 days' notice needed). But worth it for the higher interest rate. Suggest you have a reserve somewhere else
Interest rates are good, if you can meet the criteria. I have been with over 6 banks ans never has it been hard to meet the criteria. They make you jump through hoops to get the advertised interest rate. The criteria applies only for the next month, not the current month either. Not a good system. And you need to deposit yours savings into your transaction account for it to apply, not your savings account? Like why??
Read full reviewInterest rates are good, if you can meet the criteria. I have been with over 6 banks ans never has it been hard to meet the criteria. They make you jump through hoops to get the advertised interest rate. The criteria applies only for the next month, not the current month either. Not a good system. And you need to deposit yours savings into your transaction account for it to apply, not your savings account? Like why??
Their high interest rate saving accounts are designed to deliberately not paying the bonus interest rate. I bank with 9 other banks and by far the only two banks that make you go around chasing monthly interest rate. The other being BOQ which is subsidary of Virgin or related. In more details. From time to time they will chamge their critieria to meet the bonus interest payment. I had them put down on my spreadsheet to make sure I wont fall into their trap after 2 previous time. The 3rd time was the critieria of *external bank*. I transfer from BOQ and the representative told me they are related? Who knows? Do we go research every single bank we bank with who is their subsidary and how are they related? Also the term * external* can include and exclude many banks. Nevermind. I make sure I transfer for a bank not know to be in any affliation with them. C. Forth time they did not pay again so I wondered what could be wrong. They say despite I have mad more than 5 eligible payments every month they have not process the payments to merchant. *pending* that can last up to 21 days. One virgin presentative says 3 days, another 5 days and last one 21 days. The other representative replied the reason they need to hold 21days is to make sure we do not overdraft. It is a debit account, no funds no payment. What are they talking about? All to trap their customers and you end up with much less interest money in the bank every month. An yes. Their customer service is horrible. I have to repeat the same messages 6 times.
Read full reviewTheir high interest rate saving accounts are designed to deliberately not paying the bonus interest rate. I bank with 9 other banks and by far the only two banks that make you go around chasing monthly interest rate. The other being BOQ which is subsidary of Virgin or related. In more details. From time to time they will chamge their critieria to meet the bonus interest payment. I had them put down on my spreadsheet to make sure I wont fall into their trap after 2 previous time. The 3rd time was the critieria of *external bank*. I transfer from BOQ and the representative told me they are related? Who knows? Do we go research every single bank we bank with who is their subsidary and how are they related? Also the term * external* can include and exclude many banks. Nevermind. I make sure I transfer for a bank not know to be in any affliation with them. C. Forth time they did not pay again so I wondered what could be wrong. They say despite I have mad more than 5 eligible payments every month they have not process the payments to merchant. *pending* that can last up to 21 days. One virgin presentative says 3 days, another 5 days and last one 21 days. The other representative replied the reason they need to hold 21days is to make sure we do not overdraft. It is a debit account, no funds no payment. What are they talking about? All to trap their customers and you end up with much less interest money in the bank every month. An yes. Their customer service is horrible. I have to repeat the same messages 6 times.
An app only bank, that doesn't have an app that works! Every time I open the app, it takes 2 minutes to load, displays several error messages and just lags. I've seen screen recordings over and over again but they just can't fix it. The offshore customer service department have absolutely no idea and provide a terrible level of service. I don't feel secure banking with a company that doesent offer Internet banking or branches, the only way to access your banking is on an app, that doesn't work. Enough is enough
Read full reviewAn app only bank, that doesn't have an app that works! Every time I open the app, it takes 2 minutes to load, displays several error messages and just lags. I've seen screen recordings over and over again but they just can't fix it. The offshore customer service department have absolutely no idea and provide a terrible level of service. I don't feel secure banking with a company that doesent offer Internet banking or branches, the only way to access your banking is on an app, that doesn't work. Enough is enough
High Interest Savings Account
5.75% p.a. (for $0 to $250,001)
4.40% p.a.(for $0 to $250,001)
Yes up to $250,000
Savings Account
5.35% p.a. (for $0 to $250,000)
4.75% p.a.(for $0 to $1,000,000)
Yes up to $250,000
Reward Saver Account
5.25% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
Yes up to $250,000
AMP Saver Account
5.40% p.a. (for $0 to $250,000)
1.20% p.a.(for $0 to $5,000,000)
Yes up to $250,000
Savings+Bonus
5.00% p.a. (for $0 to $250,000)
2.00% p.a.(for $0 to $250,000)
Yes up to $250,000
Save Account
5.10% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Bonus Saver Account
5.00% p.a. (for $0 to $250,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
High Interest Savings Account
5.75% p.a. (for $0 to $250,001)
Yes up to $250,000
4.40% p.a.(for $0 to $250,001)
Savings Account
5.35% p.a. (for $0 to $250,000)
Yes up to $250,000
4.75% p.a.(for $0 to $1,000,000)
Save Account
5.10% p.a. (for $0 to $250,000)
Yes up to $250,000
0.10% p.a.(for $0 and over)
AMP Saver Account
5.40% p.a. (for $0 to $250,000)
Yes up to $250,000
1.20% p.a.(for $0 to $5,000,000)
Savings+Bonus
5.00% p.a. (for $0 to $250,000)
Yes up to $250,000
2.00% p.a.(for $0 to $250,000)
Reward Saver Account
5.25% p.a. (for $0 to $1,000,000)
Yes up to $250,000
0% p.a.(for $0 and over)
Bonus Saver Account
5.00% p.a. (for $0 to $250,000)
Yes up to $250,000
0.05% p.a.(for $0 and over)
Reward Saver Account
0% p.a.(for $0 and over)
5.25% p.a. (for $0 to $1,000,000)
Yes up to $250,000
Ziggy Kids Saver
0.01% p.a.(for $0 and over)
3.01% p.a. (for $0 and over)
Yes up to $250,000
Progress Saver
0.01% p.a.(for $0 and over)
4.25% p.a. (for $0 and over)
Yes up to $250,000
