Virgin Saver
Get your savings in shape
Contact us
13 37 39
we're here 24/7
FAQs
Applying
My online account
Using my Account
How to get my Virgin Saver Account and more
We will confirm that your account has been opened via an email. We'll also send your Account Number 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.
To activate your Virgin Saver you need to make an initial transfer using the online, or telephone banking service, provided by the financial institution holding your nominated linked account. You'll need our BSB 242-265 and your Virgin Saver account number.
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 and you’ll then be able to withdraw funds.
It's important to know that Virgin Money is required to withhold tax at the highest marginal tax rate plus the Medicare Levy from income earned on your account for each month that we do not have your TFN on file.
Setting up your Nominated Linked Account
As long as it's an Australian Transactional Account and is for personal use and it must allow you to transfer funds directly to your Virgin Saver. 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.
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. It takes 2 working days to make this change and once done, we'll send you a letter to confirm the change.
You’ll need to reactivate your Virgin Saver Account by transferring funds from your new linked account, and you can do this anytime from when the account has been changed.
For your additional security and to protect your account from fraudulent activity you'll be unable to make a withdrawal from your Saver Account for a 5 day period from when the Nominated Linked Account is changed. You can transfer your funds to activate your Account during this period however it’s important to know that you'll be unable to withdraw any funds during this 5 day security period.
Interest Rates
Setting up Virgin Money Online
You can also click on the following link to watch our demo.
They'll arrange for a new one to be posted out to you.
If you’ve forgotten your Password, you can reset your Password online by selecting the “Forgot your Password?” link on the login page on my.virginmoney.com.au. You’ll need to enter your User ID, Internet Access Number, Internet PIN and Account number and will then be able to chose a new password. If you need any help, give our Customer Care Team a call on 13 37 39 or +61 2 8288 2222 if calling from overseas, they're available 24/7.
Virgin Money Online Security
As part of the set up procedure you'll need to provide three answers to your choice of questions. Always pick questions that you can easily remember the answers to as you'll be asked to answer at least one question each time you sign on.
When you need to view detailed account information, make a change to your details or perform a transaction you will be required to enter an OTP as a second level of authentication to confirm that the request is authorised by you. This OTP will be delivered to you via SMS.
You only need to enter one OTP per online session. Once you have entered your OTP you can perform as many enquiries or transactions as you like within that session.
If you’d like to know more about OTP, there are more FAQ’s contained in this document – click here.
- Account details and activity
- Download account activity
- View statements
- Transfer and payments
- Manage payees
- My offers
- Rewards
- Update Contact Details screen /address screen
- Change user id
- Change password
- Statement delivery preference
If you’d like to know more about OTP, there are more FAQ’s contained in this document – click here.
Yes. We’ll always do everything we can to keep your online transactions safe and secure. We’ve invested in 128 bit SSL technology and we’ve a range of security initiatives in place that are part of our ongoing commitment to making your online activity as safe as it can be. When using Virgin Money Online any communications you send to or receive from our secure system is specially encrypted to make sure all of the data stays completely confidential. As soon as you sign in to Virgin Money Online the page will tell you the last date and time you signed in. If you notice any unusual activity, give us a call immediately 13 37 39.
Added protection
We use a dynamic on-screen keyboard (it’s on the Login page), which protects your password when you enter it. You use your mouse to enter your password using the on-screen keyboard instead of typing the keys in the traditional way, which can be targeted using key logging software. We also use a digital certificate so you can check the identity and authenticity of our websites. You’ll find it by clicking the Padlock Icon in the Status Bar at the bottom of the page.
And we’re looking out for you 24/7
Virgin Money Online is monitored by our dedicated team of security personnel around the clock. They consistently look for ways to make our site safer and maintain all of our internet services so they’re always available when you want to use them. If you suspect your Account has been compromised in any way, call us immediately on 13 37 39, or 61 2 8288 2222 if you’re outside Australia. You’ll find more about online security at the websites of:
Australian High Tech Crime Centre
Australian Competition and Consumer Commission – Scamwatch Australian Securities & Investment Commission.
My Deposits, Withdrawals and Transfers
Cheque deposits - please note:
Ensure you make the cheque payable to the same name that the Virgin Saver is in and please write your account number and contact phone number on the back of the cheque and post it to:
Virgin Money Pty Limited
GPO Box 3483
Sydney NSW 2001
Sorry, but we can’t guarantee cheques received without a clear name and account number noted on them will be deposited to your account.
You can make withdrawals by logging on to Virgin Money Online and transferring money to your Nominated Linked Account only.
It's important to know that you can't withdraw from your Virgin Saver Account until you've activated it. To activate your Virgin Saver you need to make an initial transfer using the online, or telephone banking service, provided by the financial institution holding your nominated linked account. For security reasons, your account will be activated 3 business days after you transfer the funds from your Linked Account and you’ll then be able to withdraw funds.
For amounts greater than $100,000 you'll need to complete our online 'Request a Manual Transfer of Money' request by heading to 'My Accounts' in your online account and then 'Manage my Account' and select the manual transfer link in the Online Saver section.
You’ll need to reactivate your Virgin Saver Account by transferring funds from your new linked account, and you can do this anytime from when the account has been changed.
For your additional security and to protect your account from fraudulent activity you'll be unable to make a withdrawal from your Saver Account for a 5 day period from when the Nominated Linked Account is changed. You can transfer your funds to activate your Account during this period however it’s important to know that you'll be unable to withdraw any funds during this 5 day security period.
General Information
You're not required to quote your Tax File Number (TFN) or an appropriate exemption. However, if you don't, and you are a resident of Australia, Virgin Money is required to withhold tax at the highest marginal tax rate plus the Medicare Levy from income earned on your account for each month that we do not have your TFN on file.
If you don't supply a TFN at the time of application you can do so at any time once your Account is open by logging on to Virgin Money Online.
If you are a resident of Australia in the financial year in which the interest is paid or credited, your interest will be included in assessable income for Australian tax purposes.
You should seek your own independent financial and taxation advice before making a decision whether to open an account.
Important information
Terms & Conditions apply and are available by clicking here. As this is an online account we can only accept electronic deposits and cheques, and all withdrawals must be made to your nominated linked account. While there are no fees payable on your Virgin Saver Account whatsoever, fees may apply to your nominated linked account. Please check with the relevant financial institution where your nominated linked account is held. Any advice is of a general nature only. We haven’t taken into account your objectives, financial situation, or needs when preparing it. Before acting on this advice you should consider if it's appropriate for your situation. Details about our dispute resolution system can be found by clicking here.
The calculator is supplied by InfoChoice Ltd for illustrative purposes and shouldn’t be relied upon as an exact reflection of the Virgin Saver product. The projected savings amount assumes interest is calculated and paid at the same frequency at which deposits are made. The default interest rate shown is the current Virgin Saver variable ongoing rate. The interest rate entered is assumed to stay constant over the entire period. This projection does not take into account any fees, taxes or inflation. Introductory interest rates may apply to an account and could change at any time.
Virgin Money (Australia) Pty Limited ABN 75 103 478 897 AR No 280884 promotes and distributes Virgin Saver as an Authorised Representative of Virgin Money Financial Services Pty Ltd ABN 51 113 285 395 AFSL No. 286869. Citigroup Pty Limited ABN 88 004 325 080 AFSL No. 238098 (“Citibank”) is the issuer of Virgin Saver.
*4.00% p.a. variable ongoing rate applies to customers who take out a Virgin Saver product from 14 May 2012. For customers who opened a Virgin Saver product prior to 14 May 2012 a variable ongoing rate of 3.15% p.a. applies.
#Total balances of $250,000 or less will automatically access (fee free) the Australian Government Guarantee under the Financial Claims Scheme. 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 $250,000 per person. For more information go to www.apra.gov.au or call 1300 55 88 49.
+Please note that fees and other charges may apply on your Nominated Linked Account.
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