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Manage my Savings

Welcome to the Virgin Saver. We want to make managing your money as easy as possible. Here you’ll find out how you can manage and make the most of your Virgin Saver Account.

Applying

Set up

Managing

My interest rate

Updating info

Forms

 
To apply you need to:
  • Be at least 18 years of age
  • Be a resident of Australia (for tax purposes)
  • Have an Australian Transaction Account already open in your name
To keep the application process quick and easy, there are a few things you should have on hand and if it's going to be a joint account, you'll need the info for both applicants:
  • Your Nominated Linked Account details
Your Nominated Linked Account must be a personal Australian Transaction Account in your name and it must allow you to transfer funds directly to your Virgin Saver Account.

Please note: Currently, we cannot accept Credit Union and some Building Society accounts as linked accounts. If this applies to your account - you'll receive an error message during the application process and we’ll be unable to open your Virgin Saver Account, unless you can provide another bank account.
  • Tax File Number (TFN) or Exemption Code - You don't have to give this at the time of application but as long as we don’t have your TFN on file, we'll have to deduct withholding tax from the interest earned, at the highest marginal rate for each month
  • Mobile number and e-mail address
  • Driver Licence number (if you've got one)
Apply now
 
Applying for the Virgin Saver is easy. Everything's right here online, so it only takes a few minutes. Here's how you apply:

Step 1 – Confirm a few things
Check the above section called ‘What you’ll need to apply’ to help you to know if the Virgin Saver Account is the right one for you. We also give you a few tips to make sure the process is as quick and easy as it can be.

Step 2 – Complete our easy online application
Enter your personal details like your name, contact numbers and addresses, your Tax File Number, and details of your current Australian Transaction Account you’d like to use as your Nominated Linked Account. It's best to have this information ready before you start. It's important to know that we don't accept applications for companies, trusts or DIY super funds.

Step 3 – Submit your application
Make sure you've read and accepted the terms and conditions that apply to the Virgin Saver Account, confirm the details you've entered and submit your application.
Your account and reference number will be displayed to you just after you’ve submitted your application. We recommend that you print them out or write them down straight away for your records.
Then check your email inbox to see if your account has been opened, or if you need to complete our manual identification process.

Step 4 –Set up your account
If you've passed our identification process and received a confirmation email, you can activate your account straight away by making an initial deposit using the online or telephone banking service, provided by the financial institution holding your Nominated Linked Account. You can transfer any amount you’d like, even just a few cents.
We’ll also send you all the information you need to set up your online access so you can manage your account 24/7 within a few days of your account being opened.

Of course, the sooner you start making deposits, the sooner you'll start earning interest.

To apply for your Virgin Savings Account, click here.
 
Our Virgin Saver is an online savings account. It is designed to be managed online so if you’d like to make a change or get up to date information regarding your account, you’ll need to log into your Virgin Money Online account where you’ve got full access to your account 24/7.

Your Nominated Linked Account needs to be an Australian Transaction Account, for personal use and it must allow you to transfer funds directly to your Virgin Saver Account. 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.

Our Virgin Saver is designed to be used with one linked account. You can change the linked account online whenever you like.

It’s important to know that, for security reasons, you must activate your Nominated Linked Account before you can make a withdrawal.

The interest rate applicable to your account may change depending on your account balance and other factors, so always make sure you’re up to date with our current rates and any of our offers and the terms and conditions that apply to them, which you can find on our website virginmoney.com.au/savings.

Through our alliance with Citibank, savings of $250,000 or less are automatically covered by the Australian Government Guarantee. 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.
 
 
Your account and reference number will be displayed to you just after you’ve submitted your application. We recommend that you print them out or write them down straight away for your records.

We'll email you when your account is opened so please keep an eye out for it. It’s a good idea to also check your junk folder in case it ends up there. We’ll also send you a confirmation letter with your account number and BSB, which should arrive in the post within 7-10 working days. And we'll post your Telephone PIN (TPIN) for our Telephone Self Service, an Internet Access Number and Internet PIN to get you started online.

Just so you know, you don't have to wait for your online access to be set up, or for your confirmation letter before you make deposits into your Virgin Saver Account. You can make a deposit as soon as you receive our email confirming your account is open. You’ll just need our BSB 242-265 and your account number to transfer funds into your account.
 
To activate your Virgin Saver Account, you need to make an initial funds transfer using the online or telephone banking service provided by the financial institution holding your Nominated Linked Account. You can transfer any amount you’d like, even just a few cents.

For security reasons, your account will be activated 3 business days after the funds have been received in your Virgin Saver Account. During this time, the funds deposited in your account will show as funds ‘On deposit’ and not as ‘Funds available’, but will continue to earn interest during the clearance period.

We recommend you make the transfer to activate your Virgin Saver Account as soon as your account is opened, you don’t need to wait until you’ve set up your Virgin Money Online account.

It’s important to know that a cheque deposit or a telegraphic transfer of funds into your Virgin Saver Account will not activate your account.
 
 
 
If you can't get online or would prefer our telephone service just give us a call on 13 37 39, have your Telephone PIN (TPIN) handy and follow the prompts to set up your access. It's quick and easy and from then on your account is only a phone call away.

If you forgot your Telephone PIN or would like a new one issued, just give us a call on 13 37 39 and one of our customer care team members will get this sorted for you.
 
 
If you need some help setting up your Virgin Money Online account, why not watch our demo.

Here's how to get started with Virgin Money Online:
What you'll need to register
  1. Internet Access Number
  2. Internet PIN (IPIN)
  3. Telephone PIN (TPIN)
  4. Virgin Saver Account Number
When your Virgin Saver Account is opened, and if you're not already registered online we'll automatically post a Telephone PIN, Internet Access Number (IAN) and Internet PIN (IPIN) to you.

For security reasons, we’ll send these letters to your residential address as we cannot send to a P.O. Box. All other mail and communications will be sent electronically to the e-mail address you provided. Please allow up to 10 business days from when your account was opened for these to arrive and please give us a call if any of them don’t show up and we’ll get it sorted for you.

When you've received all of the above, you're only two steps from your online access.

Step 1 – Activate your Internet Access Number
  • Call 13 37 39
  • Enter your Internet Access Number
  • Enter your 4 digit TPIN
  • Enter your date of birth as 6 digits (For example, 26 June 1977 would be 260677)
Step 2 – Create your User ID and Password for Virgin Money Online
  • Have your Internet PIN, Internet Access Number and Account number handy
  • Type my.virginmoney.com.au into your internet browser
  • On the Sign In page, select the 'First time here' button in the Log in section on the right
  • Enter your:
    • 16-digit Internet Access Number
    • 4-digit Internet PIN
    • Account number
You’ll then be guided to create your own User ID, Password and three security questions. Once these are created, you’ll be able to check your account whenever you want, wherever you are!

The next time you log in you’ll only need your User ID and Password, and to answer 1 of your 3 security questions.

You can also view all of the above steps in our online demo.

  • It’s a good idea to keep a copy of your IAN and IPIN somewhere safe as you’ll need these if you need to reset your User ID or Password
 
 
If you've forgotten your User ID, you can get confirmation of your Virgin Money Online User ID from the my.virginmoney.com.au home page. Just select the “Forgot your User ID?” link on the login page and enter your Internet Access Number and your Internet PIN, your user ID will be displayed straight away.

If you’ve forgotten your Password, you can reset your Password online by selecting the “Forgot your Password?” link on the login page at my.virginmoney.com.au. You’ll need to enter your User ID, Internet Access Number, Internet PIN and Account number and you will then be able to choose 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 you’re calling from overseas, they're available 24/7.
 
To help you create a secure password for your Virgin Money Online Account we’ve given you a few simple rules and tips to follow for your added security.

Your password:
  • Must be at least eight characters long with a maximum of 16 characters
  • Must have at least one number and one letter
  • Can’t have three of the same characters in a row, e.g. aaa or 333
  • Can’t have three consecutive characters, e.g. 123, def
  • Can’t be the same as your User ID
  • Should use special characters, e.g. $, +,?. It’ll make it even more secure
  • Can’t be the same as your previous passwords
To create a high-level security password, we recommend you:
  • Don’t create a password that’s easy to guess. Avoid using your name, date of birth, email address, etc
  • Do create a password that only you can easily remember but will be meaningless to anyone else. Choose a phrase or a combination of words that makes the password easier to remember, e.g. cmp/w@le30ds = change my password at least every 30 days
  • Do create a password longer than the minimum required. It’s safer to use 12 characters instead of the minimum 8
  • Don’t use single words that can be found in a dictionary
  • Never share your password or write it down – commit it to memory
 
Virgin Money Online – security tips
  • Before you sign in
    • Protect your computer and information with some easy-to-use tools such as firewall programs, email filters, anti-virus software and spyware filters
    • Review your statements as soon as you get them and let us know right away if you notice anything suspicious or unexpected
    • Always sign in by typing my.virginmoney.com.au into your browser
  • While you're signed in
    • We'll never send you emails containing links. It's important you never click on any links to Virgin Money Online from an email
    • Before you submit any information through a website, look for the "padlock" icon on your browser's status bar, or check that the website address starts with https:// and not just http://. This means your information is in a secured session
    • If you notice a discrepancy in the date or time of your last sign in, let us know immediately. Give us a call on 13 37 39, or +612 8288 2222 if you're outside Australia. (Your Log in information can be found at the top of the page once you have logged in.)
    • Misspelled words either in the email message or within the website may signal a potential scam
    • Always exit Virgin Money Online by clicking on the Sign Off option, don't just close your browser
    • Report all suspicious emails by forwarding them as an attachment to privacy@virginmoney.com.au, so we can investigate further and take action
    • If you suspect your account has been compromised in any way, call us immediately on 13 37 39, or +612 8288 2222 if you're outside Australia
We'll never send you emails asking you to verify your personal or account information. If you receive any emails asking for your details, don't reply to them. And let us know by calling 13 37 39, or +612 8288 2222 if you're outside Australia.

  • Don't take any chances – report any email that asks you to:
    • Give your ATM PIN or account details
    • Call a phone number and verify your card or account details (Always call 13 37 39, or +612 8288 2222 if you're outside Australia)
    • Sign in or apply for a product using a link in the email
 
If you're new to Virgin, you’ll probably need to switch direct credits that use a BSB and account number. If so, just follow the 4 steps below for an easy transfer of all your regular credits to your new Virgin Saver Account.

Step 1 - Request a copy of your direct credits from your other bank
Contact your bank and request a copy of your "Direct Credit Arrangement List" to be sent to you. This will list all your regular credits that are set up on your bank account.

Step 2 - Salary Transfers
Give your new Virgin Account number and BSB (it’s 242-265), to your work’s payroll department. There may be a form your employer needs you to complete; otherwise you can use our Salary Credit Form.

Step 3 - Transfer your direct credits
Once you’ve received your list of direct credits, you can transfer your direct credits using the Virgin direct credit change form as a guide. Just complete one form for each of your credits or ask each organisation if they have a specific form you should use to change your details.

Step 4 - Close your old account
Once you’ve transferred your salary and all your direct credits, don’t forget to cancel any future dated transfers. Consider closing your old account to avoid any unnecessary fees. You may need to do this in writing or call or visit your financial institution to close your old account.

Important to know Our Virgin Saver Account only allows you to direct debit to and from your Nominated Linked Account, which needs to be an Australian Transaction Account.

With the Virgin Saver Account you can authorise a third party to credit your account using your BSB and account number; or you may set up a Direct Debit via an Automatic Savings Plan or a one off transfer to deposit funds into your Virgin Saver Account from your Nominated Linked Account.
 
 
It’s easy to make a deposit and start earning a great rate. Here’s how:

From another bank or direct credit – You can transfer money (such as your salary, savings, wages, dividends or tax refunds) from any other bank account in Australia. To transfer money into your Virgin Saver Account, all you need is your Account number and our Virgin Money BSB 242-265.

Send us a cheque – Please 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 40,
Sydney NSW 2001


Sorry, but we can’t guarantee cheques received without a clear name and account number noted on them will be deposited into your account.

A one off transfer using your Virgin Money Online account – Simply log into your Virgin Money Online Account and head to ‘My Payments and Transfers’. Then select the ‘Virgin Saver Transfer’ link on the left and enter the amount you want to transfer from your Nominated Linked Account in the next screen. You can also set up an Automatic Savings Plan here by selecting the ‘Set schedule’ option.

Set up an Automatic Savings Plan (ASP)
An Automatic Savings Plan transfers your savings straight into your account on a regular basis from your Nominated Linked Account. This way, you can sit back and just watch your savings grow. Even small regular deposits can make a big difference to your savings in the long term.

Once your linked account has been activated, simply:
  • Login to Virgin Money Online at my.virginmoney.com.au
  • Head to ‘My Payments & Transfers’
  • Select the ‘Virgin Savings Transfer’ link on the left
  • Confirm the amount, frequency and beginning date of your future payments and they'll be transferred into your account as requested. It’s important to know the beginning date of your Automatic Savings Plan needs to be at least one day after the day you’re creating it.
Transfer money from other places and save even faster
It’s another smart way of getting your hands on whatever you’re saving for, quicker. You can put part of your salary straight into your Virgin Saver each pay day. That way from the day you get paid, you’re earning a high variable interest rate. That means faster savings for you.

Here's how to move some of your salary
  • Step 1:
  • Decide how much you’d like to save from your salary each pay day.
  • Step 2:
  • Ask your work’s payroll department if they can direct credit salaries. If so, give them your Virgin Saver BSB (it’s 242-265), account number and name and tell them how much to put in.
  • Step 3:
  • Now you can relax. Your payments will be made automatically to your Virgin Saver.
Other ways you could boost your savings are by direct crediting dividends, tax refunds and other income (like rent) straight into your Virgin Saver. Again, you just need to give your Virgin Saver BSB (242-265), account number and name to the people making the payments.

It’s important to know that you can’t deposit funds from any source outside of Australia or make a cash deposit at any time into your Virgin Saver Account.

Clearing times that apply to some transfers
There are clearing times that apply to some deposits. Cheque deposits will take 5-7 business days to clear. Automatic Savings Plan and one-off direct debit requests made using Virgin Money Online from your Linked Account will take 5 business days to clear. During this time, the funds deposited in your account will show as funds ‘On deposit’ and not as ‘Funds available’ but will continue to earn interest during the clearance period.

The interest rate applicable to your account may change depending on your account balance and other factors, so always make sure you’re up to date with any of our offers and the terms and conditions that apply to them, which you can find on our website virginmoney.com.au/savings.
 
It’s important to know that, for security reasons, you must activate your Nominated Linked Account before you can make a withdrawal.

Once your account is activated the funds transfer functionality will become operational and you’ll be able to log onto Virgin Money Online or use our Telephone Self Service and request a withdrawal to your Nominated Linked Account. There is a daily withdrawal limit of $10,000 via our Telephone Self Service and $100,000 via Virgin Money Online.

If you need to withdraw an amount greater than $100,000, you can complete a manual request form through Virgin Money Online. You’ll find the form in the ‘Manage My Accounts’ section in the ‘My Account’ tab.

For any future dated withdrawals, deposits or Automatic Savings Plans there is a $10,000 limit.

It’s important to remember that you can only transfer money back to your Nominated Linked Account and not to any other bank account.

Generally, we’ll transfer your money to your linked account on the day of your withdrawal request, if we receive it before 4pm Sydney time on a business day. Any requests outside this time will be processed on the next business day.

And just a word on fees, although we don’t charge any fees whatsoever to your Virgin Saver, unfortunately, we don’t have any control over other financial institutions, their fees and charges or any government legislation or controls that may create costs on your transactions.
 
To view your monthly statement, you’ll need to set up your online account as Virgin Saver statements are only available within your Virgin Money Online Account.

We'll email you each month to let you know when your statement is ready to view online. You can access them from the ‘See my Statements’ link on the right hand side of your Home page. You can view statements for the past 12 months in your online account.

If you close your account, your online access will be closed at the same time and your last statement will be mailed to you in the following month.
 
If you wish to switch your savings to another account, you’ll possibly need to switch the direct credits that use your Virgin Saver BSB and account number.

Step 1 - Request a copy of your direct credits from us
You can request a copy of your "Direct Credit Arrangement List" to be sent to you. Just call us on 13 37 39 and we’ll get it sent out.

Step 2 - Transfer your direct credits
Once you’ve received your list of direct credits, you’ll be able to transfer those to your new account. You can check with the organisation of your new account if they have a specific form you should use to change your details.

Step 3 - Close your account
Once you’ve transferred your salary and all your direct credits, don’t forget to cancel any future dated transfers. To do so, you just need to log into your online account and go to the ‘Payments & Transfers’ section and select the ‘List of Scheduled Payment / Transfer’ option.

To close your account, you then just need to head to the ‘Manage my account’ page from the ‘Accounts’ section, where you’ll find the form to close your Virgin Saver Account. If you close your account, your online access will be closed at the same time and your last statement will be mailed to you in the following month.
When did you open your account? Interest rate applicable
Customers who opened a Virgin Saver Account on or after 14 May 2012. 3.75% p.a. variable ongoing rate.
For customers who opened a Virgin Saver product prior to 14 May 2012. 2.90% p.a. variable standard rate applies.
Rates are effective 12 August 2013. All rates are variable and subject to change at any time without notice.
 
Advising us of your Tax File Number (TFN) or an appropriate Exemption Code will only take you a minute.

If you haven’t advised us of your Tax File Number when you applied, you can let us know any time. Simply:
  • Login to Virgin Money Online
  • Head to the ‘Manage my account’ page from the ‘Accounts’ section
  • Select the ‘Update or add a Tax File Notification for my Virgin Savings Account’ link and fill in the form
It’s up to you whether or not you advise us of your Tax File Number or an appropriate Exemption Code. Although if you don’t, and you’re an Australian resident, we’re required by law to withhold tax at the highest marginal rate from any interest earned on your account for each month that we do not have your TFN on file.
 
It's really important to keep us up to date with your contact details. The good news is it's easy to do.

You just need to login to Virgin Money Online using your User ID and Password. On your home page, select the ‘change my contact details’ link and just complete the fields you'd like to update and confirm the changes. If you prefer, you can also give us a call on 13 37 39.

It’s very important that you keep your e-mail address up to date. As the Virgin Saver is an online account, in most cases, we’ll correspond with you via e-mail. If we receive an error message to our e-mails, as a security measure, we may suspend your account until we’ve been notified of your correct e-mail address.

If you need to change your name simply complete this Name Change Form and pop it in the post.
 
If you ever need to change your linked account, all you need to do is log on to Virgin Money Online with your User ID and Password, head to the ‘My Accounts’ tab, then ‘Manage my Account’ and complete the ‘Change my linked account’ form in the Online Saver section. It takes 2 working days to make this change and once done, we’ll send you a letter to confirm the change.

If you have an Automatic Savings Plan or any direct credits set up to draw savings from your Nominated Linked Account into your Virgin Online Saver Account, don’t forget to cancel these and set up new direct credits from your new Nominated Linked Account.

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. So if you’re going to need any of the funds held in your account during this period, it’s best to make a withdrawal prior to changing your linked account.

You can transfer your funds to activate your Virgin Saver 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.

It's also important to know that we currently cannot accept Credit Union or Building Society accounts as linked accounts.
 
If you’ve set up an Automatic Savings Plan for your Virgin Saver Account and would like to change the amount or frequency or need to cancel it, just head to the ‘Payments and transfers’ section in your online account and select the ‘List of Scheduled Payment / Transfer’ link in the top right corner. All your scheduled transactions will be displayed in this section and can then be amended or cancelled.

It’s important to know that your Savings Plan needs to start at least one business day after the day you’re creating it.
 
If you’d like to choose a new User ID or Password or different security questions, just log into your Virgin Money Online Account using your current User ID and Password, head to 'Manage my Profile and Settings' (just above the sign out button) and select from the list of options what you'd like to update, or give us a call on 13 37 39 if you prefer.

If you’ve actually forgotten your User ID or Password, you can retrieve them by following the steps below or 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.
  • If you've forgotten your User ID, you can get confirmation of your Virgin Money Online User ID from the my.virginmoney.com.au home page. Just select the “Forgot your User ID?” link on the login page and enter your Internet Access Number and your Internet PIN, your user ID will be displayed straight away
  • If you’ve forgotten your Password, you can reset your Password online by selecting the “Forgot your Password?” link on the login page at my.virginmoney.com.au. You’ll need to enter your User ID, Internet Access Number, Internet PIN and Account number and you will then be able to choose a new Password.

From organising a salary payment to changing your name, you’ll find the form you need right here along with the terms and conditions that apply to your account.




Useful forms

 

Change of Name form Change of Name form
(Adobe PDF, 253 KB)
Verify your identity Identity Verification Request form
(Adobe PDF, 240KB)
Privacy Consent form Privacy Consent
(Adobe PDF, 158KB)
Electronic Communications Consent form Electronic Communications Consent
(Adobe PDF, 167KB)
Salary Payment form (deposits) Salary Payment form (deposits)
(Adobe PDF, 190KB)


Our Terms and Conditions

 

Virgin Savings Terms & Conditions Virgin Savings Terms & Conditions
(Adobe PDF, 678KB)
Non Cash Payment Terms & Conditions NCP Terms & Conditions
(Adobe PDF, 857KB)
Quick Reference Guide Virgin Savings Quick Reference Guide
(Adobe PDF, 678KB)


Please note that for our PDF forms you will need to have Adobe Reader installed on your computer.

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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.

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.

*2.65% p.a. variable ongoing rate applies to customers who took 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 1.85% 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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Quick Reference Guide

A handy guide to help you set up and get the most out of your Virgin Saver account.

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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