Virgin Money Go Account
Pay no monthly account fees, earn points as you spend and earn bonus interest on a linked Virgin Money Boost Saver account.
This is an everyday bank account with no monthly account keeping fees, the ability to earn points as you spend and bonus interest on your savings. You can link your debit card to Apple Pay, Google Pay or Samsung Pay instantly after creating your account to make contactless payments with your phone. This account is managed via the Virgin Money mobile app so you can bank anywhere, anytime.🔥 Special offer: Welcome bonus of 5,000 Virgin Money Points! You'll receive a welcome bonus offer of 5,000 Virgin Money Points when you open your first Virgin Money Go Account and make your first transaction within 30 days of opening the account. Ends 31 July 2021. T&C's apply.
Account keeping fee
ATM withdrawal fee
Overseas ATM withdrawal fee
Overseas transaction fee
of transaction value
Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.
This bank account offers some great perks. You'll earn Virgin Money Points when you make purchases, and you can earn a competitive bonus rate on your savings if you meet the deposit conditions each month. The account is managed entirely via the Virgin Money mobile app, so keep this in mind if you don't enjoy doing your banking on your phone.
You can use your debit card for free at most Australian ATMs, and also link it to Apple Pay or Google Pay to make contactless payments with your phone which is really handy. There is an international transaction fee and overseas ATM fee charged, so keep this in mind if you make a lot of overseas purchases.
🔥 Special offer: Welcome bonus of 5,000 Virgin Money Points!
You'll receive a welcome bonus offer of 5,000 Virgin Money Points when you open your first Virgin Money Go Account and make your first transaction within 30 days of opening the account. Ends 31 July 2021. T&C's apply.
No monthly account keeping fees
The Virgin Money Go transaction account has no monthly account keeping fees to pay.
Earn points as you spend
You can earn 8 Virgin Money Points for each purchase, direct debit or BPAY payment you make. To earn points as you spend you need to meet the following account conditions in the previous month:
- If you're aged 14-17: You don't have to meet any account conditions to earn points as you spend!
- If you're aged 18-24: You need to deposit $1,000 a month and make five or more purchases a month (this includes BPAY payments and direct debits settled during the month).
- If you're aged 25+: You need to deposit $2,000 a month and make five or more purchases a month (this includes BPAY payments and direct debits settled during the month).
You can choose to transfer your points back into cash in your account or redeem them for a gift card at participating brands.
Earn bonus interest on a Virgin Money Boost Saver account
By meeting the above account conditions, you'll also be eligible to earn a competitive bonus interest rate of up to 1.2% p.a. on a linked Virgin Money Boost Saver account.
You'll automatically receive a Virgin Money Boost Saver account when you open a new Virgin Money Go account, unless you're an existing Virgin Money customer.
Joint accounts available
This account is for personal use, not business use. You can open this account as a joint account with another person.
Google Pay and Apple Pay available
You can set up your card with Google Pay, Samsung Pay or Apple Pay to make contactless purchases from your phone or smartwatch. You can set this up instantly too, even before your physical debit card arrives in the mail.
Withdrawing cash in Australia
You can use your debit card to withdraw cash at ATMs, however you can't withdraw cash elsewhere (e.g.: at the supermarket or petrol station). The ATM fee, if any, will be displayed on the ATM machiene at the time of the transaction. You can use ATMs owned by Westpac, CBA, ANZ and NAB for free.
There's an ATM withdrawal fee of $5 when withdrawing cash overseas (plus the ATM operator may also charge its own fee).
Virgin Money also applies an international transaction fee of 2.5 on international transactions (this included using your card to shop online at international retailers).
How to apply
You can easily apply online in less than 10 minutes. Check that you meet the eligibility requirements first, and make sure you have the necessary documents handy.
- Minimum age. The minimum age requirement for this account is 14 years of age.
- Residency requirement. In order to be eligible for this account, you must have an Australian residential address.
- Deposit requirements. There is no minimum deposit requirement for your account to remain active. However, there is a monthly deposit requirement in order to earn points and bonus interest.
- Tax File Number (TFN). Giving your TFN means withholding tax will be deducted at your correct tax rate.
- Identification. Virgin Money will verify your identity online by using information found on your driver's license or passport.