Apply online for a Virgin Saver - Virgin Money Australia Online Savings Account.
"It just takes a minute to complete and submit your Virgin Money high interest savings account application"
Our high interest online savings account that keeps giving
With Virgin Saver, your savings will get off to a flying start.
A High Interest Online Savings Account with the best rates around. Rates that start high and stay there to ensure customers save faster.
A market leading variable introductory of 6.51%p.a for 4 months and a great ongoing variable rate of 5.35% p.a
No one likes fees, so we’ve taken them out
That’s right - no fees…whatsoever with the Virgin Saver. And you can freely transfer money between Virgin Saver and your Nominated Linked account, as often as you like. For free.
One thing we’ll never take away from you is your interest - we won’t penalise you by reducing the interest you can earn if you withdraw money within the month. With Virgin you can withdraw what you like, when you like.
Safe and secure online application with SSL encryption technology.
Get your Virgin Saver with exciting and make more money with a high variable introductory savings rate today!
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Welcome to our high interest online savings account that gets you saving faster.
Features at a glance:
A market leading variable introductory rate of 5.85% p.a.* for the first 4 months on accounts with balances of up to $250,000(changing to $150,000 on 5/1/2012)
Competitive variable ongoing rate of 4.65% p.a.
Absolutely no fees whatsoever
Added security with the Government Guarantee through our alliance with Citibank#
* The variable 5.85% p.a. introductory rate is available for 4 months from date of account opening to new customers with balances of $250,000 (changing to $150,000 on 5/1/2012) and under only. For balances over $250,000 ($150,000 from 5/1/2012) the variable introductory rate is 4.85% p.a. on the entire account balance during the introductory period. If your balance is less than or equal to $250,000 ($150,000 from 5/1/2012) but increases beyond $250,000 ($150,000 from 5/1/2012) during the introductory
period your variable introductory rate will be 4.85% p.a. on the entire account balance for the remaining introductory period that the balance remains above $250,000 ($150,000 from 5/1/2012). At the end of the 4 month introductory offer period for all new customers the rate will revert to the variable ongoing rate, currently 4.65% p.a. Rates are effective from 13/12/11 and are subject to change at any time.
# Total balances of $1 million or less will automatically access (fee free) the Australian Government Guarantee under the Financial Claims Scheme until 1 Feb 2012. As Citibank issues the Virgin Saver and is the registered ADI under the Financial Claims Scheme, the sum of all balances held in Virgin Saver and any other Citibank accounts will be covered by the Australian Government Guarantee up to a maximum of $1 million per person. From 1 Feb 2012 the Financial Claims Scheme threshold will reduce to $250,000.
FAQs - How to get my Virgin Saver Account and more
How can I get my Virgin Saver Account and how long does it take?
It’s easy to apply for a Virgin Saver. It’s all online, so just click here to go to our application form.
It takes less than 10 minutes to complete our online application if you’ve got all your personal information handy,
and you’ll have a response in 60 seconds after you’ve clicked submit.
Who can apply for a Virgin Saver?
Anyone that’s an Australian resident for tax purposes and is 18 or older.
Can I check my Application's progress?
Yes, you can easily check the status of your application online 24/7 using your 9-digit reference number, which we’ll email to you soon after you’ve submitted your application.
Can I set up a joint account?
Yes, all you need to do is click on 'Joint Account' when you're completing the online application. You'll also be asked to Nominate a Linked Account, your Nominated Linked Account must also be a Joint Account in the same names as your Virgin Saver Account.
We've applied for a joint account but only one of us has been asked to send in ID documents, why is this?
We try to identify customers electronically, however sometimes that's not possible. Only customers we've been unable to identify electronically need to go through our manual identity process.
Can I link any account to my Virgin Saver?
As long as it's an Australian Bank Account and is for personal use, yes. The linked account must be in the same name as your Virgin Saver Account, this applies to both joint and individual Accounts. Some Credit Union and Building Society accounts aren't currently accepted as linked accounts. You'll receive an error message during the application process if this applies to your account.
I've received an error message when I've entered my Nominated Linked account BSB?
There are some BSB's which we currently can't accept. If you receive an error message during your Virgin Saver application, check that the BSB you've entered is correct or enter another account number if you have one. If you still receive the error message, we're sorry but we're unable to accept your account at this time.
Can I link more than one bank account to my Virgin Saver?
Our Virgin Saver Account is designed to be used with one linked account. You can change the linked account online whenever you like. Another option is to open another Virgin Saver Account and link it to a separate account.
When will I receive my Account Number?
You’ll receive your Account Number as soon as we’ve successfully processed your application. We’ll also send it to you in your Welcome Letter, within 10 business days of your Account being opened. We’ll also send you your Internet Access Number, Internet PIN (IPIN) and Telephone PIN (TPIN) so you can access your Account online or over the phone.
Can I have more than one Virgin Saver Account?
Yes, you can open as many Virgin Saver Accounts as you would like, however it's important to remember that the introductory rate will only apply to the first Virgin Saver Account that you open.
Can I open a Virgin Saver for business purposes?
Our Virgin Saver Account is for personal use only. We're unable to accept applications for business purposes or in a business name.
What happens after the introductory period?
After the introductory period your Virgin Saver reverts to a competitive, ongoing variable rate.
How frequently will I receive eStatements?
You'll receive them monthly. We will send you an email to let you know your eStatement is ready to view online. All you need to do is log into Virgin Money Online and click on 'view statement'.
How do I know when my account is ready to use and how do I start?
Your account will be ready to use once you receive your Virgin Saver Account number and BSB. Once you have these and set up your online access, you can start making deposits. Start by calling us to activate your Internet Access Number, then follow the steps in your Internet Access Number letter to set up your Online Account.
Will I need anything to set up my Virgin Saver?
To get your Virgin Saver up and running, you’ll receive an Internet Access Number, Internet PIN (IPIN) and Telephone PIN (TPIN) in the mail. Just follow the instructions that come with your Internet Access Number and you're all set to go.
When can I start making deposits?
You can start making deposits as soon as your account is open. All you need is your Virgin Saver Account number and BSB. You'll receive these in your welcome letter. It's important to know that you can't withdraw from your Virgin Saver Account until you've activated it.
When can I start making withdrawals?
You'll need to activate your Saver Account before you can make any withdrawals. You can activate your account by depositing funds of any amount from your Nominated Linked Account (an Australian Bank account) into your Virgin Saver Account. It's important to know that for security reasons, your account will be active 3 days after you transfer the funds from your Linked Account.
I have just completed an online application and I have been instructed to make a direct deposit from my linked account, why do I need to do this?
We need you to transfer funds into your Virgin Saver so the account will be activated. It also shows us that we have all the correct information so your account will work ok. It's important to know that for security reasons, your account will be active 3 days after you transfer the funds from your linked account.
How do I provide you with my Tax File Number?
It's easy, all you need to do is log on to Virgin Money Online with your User ID and Password, and provide us with the relevant Tax File Number.
How do I change my linked account?
To change your linked account, all you need to do is log on to Virgin Money Online with your User ID and Password, and provide us with your new linked account details.
How do I update my account details?
To update your account details, all you need to do is log on to Virgin Money Online with your User ID and Password.
What if I want to speak to someone?
We're here to help so just give our friendly Customer Care Team a call on 13 37 39 and follow the prompts or +61 2 8288 2222 if you're calling from overseas. We're available 24/7.
If I go travelling overseas, how do I contact you if I need to speak to someone?
Go to our 'Contact us' web page, all our contact numbers are listed there including numbers for customers who are currently overseas.
Are my savings covered by the Australian Government Guarantee?
Yes, your savings in your Virgin Saver are covered for up to $1 million by the Australian Government Guarantee.
High interest savings explained
All you need to know about what high interest savings is and how it benefits you.
Understanding high interest online savings accounts
A high interest online savings account is an account where you save money to earn interest. The interest you earn is calculated daily and paid directly into your account, monthly. Plus you have the flexibility of accessing your money whenever you want.
Move your money around, when you want
Link your online savings account to a Nominated Linked account and easily transfer money, from one to the other. In fact, you’ll be able to access your account whenever you want, online or with a phone call.
Things you should look for in a high interest savings account
A high introductory rate and how long it will apply to your account
A competitive, ongoing interest rate
Check how your interest will be calculated
Keep a look out for low, or even better, no fees and charges
Ensure you can get your money when you want, anytime, online or over the phone
Be aware of limits on transfers
Check to see if there’s no opening or ongoing balance required
Safe and secure online application with SSL encryption technology.
All card applications are strictly confidential.
