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
| Name | |
|---|---|
|
|
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) |
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)
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.
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 2.60% 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 2.25% 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.
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 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.
|
Balances from $0: 0.05% p.a. |
|
|
Balances from $0: 2.60% p.a. |
|
|
Bonus interest 2.60% is made up of the Base rate of 0.05%, Bonus rate of 2.25% and Notice Interest Rate of 0.30%. 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. |
|
$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 |
|
$0.00 |
|
|
$0.00 |
|
|
Monthly |
|
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 least one purchase (that settles) direct debit or BPAY payment in the first 30 days. T&Cs Apply. |
|
|
none |
|
Balances from $0: 0.05% p.a. |
|
|
Balances from $0: 2.30% p.a. |
|
|
Bonus interest 2.30% is made up of the Base rate of 0.05% and Bonus rate of 2.25%. 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. |
|
$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 |
|
$0.00 |
|
|
$0.00 |
|
|
Monthly |
|
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 for new accounts opened by 31 August, 2022 with at least one purchase in the first 30 days. Customers can use the Lock Saver Feature to lock their savings & earn an extra 0.30% p.a.. T&Cs apply. |
|
|
none |
|
Balances from $0: 0.05% p.a. |
|
|
Balances from $0: 2.60% p.a. |
|
|
Bonus rate of 2.60% is made up of the Base rate of 0.05%, Bonus rate of 2.25% and Notice Interest Rate of 0.30%, must enable the Lock Saver Feature. 32 days notice for withdrawal and T&Cs apply. |
|
$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 |
|
$0.00 |
|
|
$0.00 |
|
|
Monthly |
|
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 0.30% p.a. Need to give 32 days notice to access funds in locked account. |
|
|
Under 18 |
|
Balances from $0: 0.05% p.a. |
|
|
Balances from $0: 2.30% p.a. |
|
|
Bonus rate of 2.30% is made up of the Base rate of 0.05% and Bonus rate of 2.25%. |
|
$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 |
|
$0.00 |
|
|
$0.00 |
|
|
Monthly |
|
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 0.30% p.a. Need to give 32 days notice to access funds in locked account. |
|
|
Under 18 |
It took Virgin Money 2 months to finally open my saver account! And after they did, I deposited $10 to verify my account and they LOST IT! When you call customer service, you talk to someone in an Indonesian call centre who says "I'm sorry, but I can't find your account on my system." And to top it off, in my online Virgin bank user area, when I click transfer money, it says "I'm sorry, this feature is only available to Virgin Money credit card customers.' What! Do yourself a favour and stay away from Virgin money. And a bit of advice to Virgin: Stick to Flying Planes! And thanks Mozo for keeping Aussie's safe!!!!
Read full reviewIt took Virgin Money 2 months to finally open my saver account! And after they did, I deposited $10 to verify my account and they LOST IT! When you call customer service, you talk to someone in an Indonesian call centre who says "I'm sorry, but I can't find your account on my system." And to top it off, in my online Virgin bank user area, when I click transfer money, it says "I'm sorry, this feature is only available to Virgin Money credit card customers.' What! Do yourself a favour and stay away from Virgin money. And a bit of advice to Virgin: Stick to Flying Planes! And thanks Mozo for keeping Aussie's safe!!!!
Stay away! I spend 2 months trying to open a saver account, over 10 phone calls later they only opened the account in my name and not my wife's name as well. And they lost the $1 activation deposit, and when I ask about that, they say they don't have a record of my account!!! Oh yeah, and when I go to transfer money out of the account, it says that feature is only available to Virgin credit card customers. I have now switched to AMP, my account was opened in 2 days.
Read full reviewStay away! I spend 2 months trying to open a saver account, over 10 phone calls later they only opened the account in my name and not my wife's name as well. And they lost the $1 activation deposit, and when I ask about that, they say they don't have a record of my account!!! Oh yeah, and when I go to transfer money out of the account, it says that feature is only available to Virgin credit card customers. I have now switched to AMP, my account was opened in 2 days.
Have spent the past 4 weeks just trying to open a virgin online saver account (and, yes, I am very familiar with the procedure - have opened two other online accounts recently without any problems). After numerous phone calls (to a call centre - no joy there), and emails (to which I get no reply whatsoever) will give it a miss. If opening an account is this troublesome, do not fancy my chances of good service once I do have an account.
Read full reviewHave spent the past 4 weeks just trying to open a virgin online saver account (and, yes, I am very familiar with the procedure - have opened two other online accounts recently without any problems). After numerous phone calls (to a call centre - no joy there), and emails (to which I get no reply whatsoever) will give it a miss. If opening an account is this troublesome, do not fancy my chances of good service once I do have an account.
I was duped into signing up with Virgin Money based on a promotion that they were running where if you saved $1000 a month for three months then you received $50. The interest rate that was offered as a bonus rate at the same time was quite competitive so I signed up and also signed up to the automatic savings plan. The automatic savings plan never kicked in - so I failed to meet the criteria for the $50. I also lost my pin letter and despite several calls to customer support it took about 6 weeks to get a new one. So far closing this account has been the worst customer service I have ever experienced. I requested this online because you cannot do it over the phone - I was then advised about a week later that my account was inactive so I had to transfer a dollar to reactivate it. I was advised when this cleared (within 3 days) I would be called and then my account would be closed. I was not however called - so after a week I called - only to be told that again I cannot close this over the phone so I need to submit another request online. Virgin money customer service staff have no authority to do anything it appears on your account and sadly while they offer to help there seems to be nothing that they can actually do. From my personal experience I would say that the entire structure of this product offering is flawed and the customer service bundled with it is extremely frustrating to navigate. Pro's: None Con's: Product offered Poor Customer Service Website Security Procedures Back End Systems
Read full reviewI was duped into signing up with Virgin Money based on a promotion that they were running where if you saved $1000 a month for three months then you received $50. The interest rate that was offered as a bonus rate at the same time was quite competitive so I signed up and also signed up to the automatic savings plan. The automatic savings plan never kicked in - so I failed to meet the criteria for the $50. I also lost my pin letter and despite several calls to customer support it took about 6 weeks to get a new one. So far closing this account has been the worst customer service I have ever experienced. I requested this online because you cannot do it over the phone - I was then advised about a week later that my account was inactive so I had to transfer a dollar to reactivate it. I was advised when this cleared (within 3 days) I would be called and then my account would be closed. I was not however called - so after a week I called - only to be told that again I cannot close this over the phone so I need to submit another request online. Virgin money customer service staff have no authority to do anything it appears on your account and sadly while they offer to help there seems to be nothing that they can actually do. From my personal experience I would say that the entire structure of this product offering is flawed and the customer service bundled with it is extremely frustrating to navigate. Pro's: None Con's: Product offered Poor Customer Service Website Security Procedures Back End Systems
Virgin Money
Grow Saver
0.05% p.a.(for $0 and over)
1.80% p.a. (for $0 and over)
Yes up to $250,000
Virgin Money
Boost Saver with Go Account
2.30% p.a. (for $0 to $250,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Westpac
Life - 18-29 years old
2.75% p.a. (for $0 to $30,000)
0.65% p.a.(for $0 and over)
Yes up to $250,000
MyState Bank
Bonus Saver Account
2.10% p.a. (for $0 to $250,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Virgin Money
Grow Saver
1.80% p.a. (for $0 and over)
0.05% p.a.(for $0 and over)
Yes up to $250,000
ubank
Save Account
2.35% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Virgin Money
Boost Saver with Go Account
2.30% p.a. (for $0 to $250,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Westpac
Life - 18-29 years old
2.75% p.a. (for $0 to $30,000)
0.65% p.a.(for $0 and over)
Yes up to $250,000
MyState Bank
Bonus Saver Account
2.10% p.a. (for $0 to $250,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Virgin Money
Grow Saver
1.80% p.a. (for $0 and over)
0.05% p.a.(for $0 and over)
Yes up to $250,000
ubank
Save Account
2.35% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Auswide Bank
Ziggy Kids Saver
0.01% p.a.(for $0 and over)
1.26% p.a. (for $0 and over)
Yes up to $250,000
ANZ
Progress Saver
0.01% p.a.(for $0 and over)
1.15% p.a. (for $0 and over)
Yes up to $250,000