Virgin Money logo
Mini meca 2022

Virgin Money Boost Saver with Go Account

Advertiser disclosure

The details shown below are for the Boost Saver with Go Account (Lock Saver Feature)

The details shown below are for the Boost Saver with Go Account

The details shown below are for the Boost Saver with Go Account (Under 18 years old) (Lock Saver Feature)

The details shown below are for the Boost Saver with Go Account (Under 18 years old)

Choose the version of this product that suits you best

  • Boost Saver with Go Account (Lock Saver Feature)

  • Boost Saver with Go Account

  • Boost Saver with Go Account (Under 18 years old) (Lock Saver Feature)

  • Boost Saver with Go Account (Under 18 years old)

Interest rate
0.05% p.a.(for $0 and over)
Maximum rate
2.00% p.a. (for $0 to $250,000)
Govt deposit guarantee
Yes up to $250,000
Go to site
Interest rate
0.05% p.a.(for $0 and over)
Maximum rate
1.50% p.a. (for $0 to $250,000)
Govt deposit guarantee
Yes up to $250,000
Go to site
Interest rate
0.05% p.a.(for $0 and over)
Maximum rate
2.00% p.a. (for $0 to $250,000)
Govt deposit guarantee
Yes up to $250,000
Interest rate
0.05% p.a.(for $0 and over)
Maximum rate
1.50% p.a. (for $0 to $250,000)
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review Virgin Money Boost Saver with Go Account - last updated: 15 June 2022

binocular icon
What's hot
  • Enjoy up to 2.00% p.a.
  • 5,000 bonus Virgin Money Points offer for new customers (T&Cs, offer ends 31 August 2022)
  • 2022 Mozo Experts Choice Award-winner
What's not
  • 2.50% p.a. foreign exchange commission
Mozo snapshot

Like the sound of the ability to earn 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. 

It's these features and more that earned this account wins in the 2022 Mozo Experts Choice Awards in the Regular Saver and Best New Savings Account categories.

key icon
Key features

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'll get a decent bonus rate up to 2.00% p.a. when you meet the monthly criteria and enable the Lock Saver Feature. This is made up of a 0.50% notice interest rate, 0.05% p.a. standard variable rate and 1.45% 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.

  • 18 to 24 year olds must deposit at least $1,000 from an external account and also make five settled purchases, BPAY payments or direct debits.

  • Over 25 year olds must deposit at least $2,000 from an external account and also make five settled purchases, BPAY payments or direct debits.

If you meet all these conditions each month, not only should you be able to earn the full interest rate, but you will also be able to earn Virgin Money Points. 

Granted you meet the conditions above, you’ll be able to bag eight Virgin Money Points per transaction. 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 erase 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, up until 31 August 2022 new customers can bag 5,000 bonus Virgin Money Points when you open a Virgin Money Go Account. You can later redeem $100 gift card with one of the many Virgin Money Rewards partners available. To earn your points for that gift card you'll have to spend $100 or more within the first 30 days of opening your account (T&C 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.

snapshot
Who is it good for

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.

question icon
Any catches

If you fall into the over 25 age category and you don’t have a monthly income over $2,000, 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.

Details

Rates and fees information correct as at 7 July 2022. 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: 0.05% p.a.

Balances from $0: 2.00% p.a.
Balances from $250,000: 0.05% p.a.

Bonus interest 2.00% is made up of the Base rate of 0.05%, Bonus rate of 1.45% and Notice Interest Rate of 0.50%. It only applies when you deposit $2,000 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. If you are between 18 and 25 you need to also deposit $1,000. 32 days notice for withdrawal and T&Cs apply.

Fees

$0.00

n/a

Unlimited Internal Transfers to your Virgin Money Go Account

n/a

n/a

n/a

n/a

n/a

n/a

n/a

$0.00

n/a

Other financial bits

$0.00

$0.00

Monthly

Features

no

none

no

no

no

no

no

no

yes

yes

no

Bank and savings account only accessible through iOS or Android app.

Receive a bonus 5,000 Virgin Money Points when you open an account by 31 August, 2022 and make at last one purchase (that settles) direct debit or BPAY payment in the first 30 days. T&Cs Apply.

none

Details

Rates and fees information correct as at 7 July 2022. 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: 0.05% p.a.

Balances from $0: 1.50% p.a.
Balances from $250,000: 0.05% p.a.

Bonus interest 1.50% is made up of the Base rate of 0.05% and Bonus rate of 1.45%. It only applies when you deposit $2,000 into your Go Account and make 5 debit card purchases, direct debit or BPAY payments in the previous month. If you are between 18 and 25 you need to deposit $1,000 and fulfil the other criteria.

Fees

$0.00

n/a

Unlimited Internal Transfers to your Virgin Money Go Account

n/a

n/a

n/a

n/a

n/a

n/a

n/a

$0.00

n/a

Other financial bits

$0.00

$0.00

Monthly

Features

no

none

no

no

no

no

no

no

yes

yes

no

Bank and savings account only accessible through iOS or Android app.

Receive a bonus 5,000 Virgin Money Points when you open an account by 31 August, 2022 and spend $100 in the first 30 days. Exclusions apply. Customers can use the Lock Saver Feature to lock their savings & earn an extra 0.35% p.a.. T&Cs apply.

none

Details

Rates and fees information correct as at 7 July 2022. 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: 0.05% p.a.

Balances from $0: 2.00% p.a.
Balances from $250,000: 0.05% p.a.

Bonus rate of 2.00% is made up of the Base rate of 0.05%, Bonus rate of 1.45% and Notice Interest Rate of 0.50%, must enable the Lock Saver Feature. 32 days notice for withdrawal and T&Cs apply.

Fees

$0.00

n/a

Unlimited Internal Transfers to your Virgin Money Go Account

n/a

n/a

n/a

n/a

n/a

n/a

n/a

$0.00

n/a

Other financial bits

$0.00

$0.00

Monthly

Features

no

none

no

no

no

no

no

no

yes

yes

no

Bank and savings account only accessible through iOS or Android app.

Need to give 32 days notice to access funds in locked account.

Under 18

Details

Rates and fees information correct as at 7 July 2022. 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: 0.05% p.a.

Balances from $0: 1.50% p.a.
Balances from $250,000: 0.05% p.a.

Bonus rate of 1.50% is made up of the Base rate of 0.05% and Bonus rate of 1.45%.

Fees

$0.00

n/a

Unlimited Internal Transfers to your Virgin Money Go Account

n/a

n/a

n/a

n/a

n/a

n/a

n/a

$0.00

n/a

Other financial bits

$0.00

$0.00

Monthly

Features

no

none

no

no

no

no

no

no

yes

yes

no

Bank and savings account only accessible through iOS or Android app.

Customers can use the Lock Saver Feature to lock their savings away and earn an extra 0.35% p.a. Need to give 32 days notice to access funds in locked account.

Under 18

Customer Reviews

How are Virgin Money savings accounts rated by the Mozo community?

Overall
Price
Features
Customer service
Convenience
Trust

Latest reviews of Virgin Money Boost Saver with Go Account Savings Account

About Virgin Money