How to bank like a boss and be rewarded for it

Want to know just how rewarding banking like a boss can be? To help visualise the life of a new Virgin Money customer, we’ve created the story of a fictitious customer called ‘Sam’ for the purposes of this article. Whilst Sam isn’t real, the earning potential discussed in this article is.

"Sam" lives a regular life - has a 9-5 and enjoys spending time with friends. Sam has some big goals for the future but doesn’t want to miss out on the everyday fun. Sam also expects more out of everyday banking - to help make this happen.

With Virgin Money, Sam has the power to unlock the value of banking and be rewarded. Let’s find out how. Over to you, Sam.

Earn up to 30,000 Virgin Money Points in just 2 months¹

I was looking for banking that rewards me every day, has access to bonus points and partner offers from my favourite brands. I also want to use my points on what matters to me. I started banking with Virgin Money just two months ago and took out the Virgin Money Go transaction account which came bundled with a high interest savings account – the Virgin Money Boost Saver – and wow! With access to their new rewards program, Virgin Money Rewards, I’ve already earned nearly 30,000 Virgin Money Points.

Here’s what I’ve earned:

_{*Redemption values outlined in this article are correct as at 21 October 2021 and subject to change without notice. These do not represent actual points earned. ‘Sam’ is a fictitious character, created for the purpose of illustrating certain baking offers available through Virgin Money.}

It was so simple that before I knew it, I had enough points to redeem for a $150 Gift Card at the THE ICONIC – which I used to buy some new active wear. Pretty savvy, huh? Here’s how I earned my points so far.

Sign up welcome bonus – 5,000 points²

Done. I opened my new Virgin Money Go Account, added it to my digital wallet and made a purchase the next day -  boom - I’m off and running with 5,000 points which is enough for a $20 Gift Card with heaps of Virgin Money Rewards partners. I could also use the points for cashback or to erase a purchase I made on my Go account. I chose to keep the points this time as I have my eye on THE ICONIC gift card.

Shop smart – 4,403 points³

I got a head start on getting some gear for my hike while the sales were on. Most of my favourite brands are Virgin Money Rewards partners, so all my shopping came with a side of rewards.

• $110 for new clothes at Bonds = 1,320 points

• $99 for a waterproof jacket from Puma = 1,584 points

• $149 for hiking shoes at Kathmandu = 1499 points

Partner offers helping me celebrate with friends – 9,200 points³

I’ve set up a savings goal for a new car, so instead of going out for my birthday last weekend, I invited the gang around for dinner. Thanks to a few clever purchases with Virgin Money Rewards partners via the app, it was a total points party.

• Dinner from Menulog earned me 2,000 points,

• wine from Jimmy Brings was an easy 1,200 points and;

• I treated myself to a new birthday outfit at The Iconic which earned me a whopping 6,000 bonus points

_{*Offers are correct as at 21 October 2021.}

Just doing what I do – 808 points⁴

With my Virgin Money Go Account, I can earn 8 Virgin Money Points for every purchase I make – just by meeting the Monthly Criteria. That means that simple things like paying the rent, bills and a few subscriptions I have set up as direct debits, all earn me points throughout the month. All up I made 101 purchases this month – that’s a whopping 808 points just for doing what I do.

Referring my besties – 10,000 points⁵

I was showing my besties, Olivia and Johnno, how the Virgin Money app helps me save, budget and pay my bills on time. They loved it so much they decided to open a Go Account too. I sent them both my unique referral code and once they were all set up and each made a purchase within 30 days, I got an extra 10,000 bonus points! Olivia and Johnno even got 5,000 welcome bonus points. Win-win. You can earn up to 25,000 bonus points per month if you have a few friends you want to refer (max 5 per month).

Turn your points into gift cards, cash and more⁶

When it comes to redeeming your Virgin Money Points, Virgin Money Rewards gives you the power to choose what works for you. Redeem your points for:

•  Cashback into your Virgin Money Go Account for some guilt-free shopping or send the amount to your linked Virgin Money Boost Saver to give your balance a boost.

•  Erase a purchase you’ve already made on your Go Account.

•  Or simply redeem points for a gift card from heaps of big brands, like Coles, THE ICONIC, Bunnings, JB Hi Fi and more!

What’s the Monthly Criteria?

To earn 8 points per purchase, direct debit and BPAY payment on your Virgin Money Go Account, plus bonus interest on your Virgin Money Boost Saver, you need to meet the Monthly Criteria in the previous month. For me it was as easy as setting up my salary with my employer. The Monthly Criteria vary by age:

•  If you are 25 years and older, deposit $2,000 or more into your Go Account from another financial institution (such as your salary), and make at least 5 debit card purchases, direct debits or BPAY payments in the previous month which settle in that month (not pending)

•  If you are between 18 and 24 years, deposit $1,000 or more into your Go Account from another financial institution (such as your salary), and make at least 5 debit card purchases, direct debits or BPAY payments in the previous month which settle in that month (not pending)

•  If you are between 14 and 17 years, no Monthly Criteria apply in order to earn the benefit.

Enjoy a rewarding banking experience every day.

Learn More

Terms and Conditions

^{Sam is not a real person and the contents of this article have been created for the purpose of demonstrating offers available to certain Virgin Money customers.}

^{1. Subject to the terms and conditions of the Virgin Money Rewards program available here.}

^{2. 5K bonus point offer: New Virgin Money Go Account customers will receive 5,000 bonus Virgin Money Points when they make at least one purchase which settle in that month (not pending) with their Virgin Money Go Account or make a direct debit or BPAY payment in the first 30 days from account opening. For customers who open a Virgin Money Go Account jointly with another person, the points will be split and evenly allocated to both joint account holders of that account once the Monthly Criteria have been met. Virgin Money reserves the right to amend or withdraw this offer at anytime without notice. For further information on the Virgin Money Rewards Program refer to our terms and conditions. Offer ends 31 January 2022.}

^{3. Partner offers: From time to time we may offer you the ability to earn Bonus Points or other benefits with selected partners. Specific offer terms will be set out individual conditions at the time the offer is made to you. Redemption values listed are correct as 21 October 2021 and subject to change without notice. Eligibility criteria, limits and third party conditions apply.}

^{4. Go Account: You will earn 8 Virgin Money Points for any debit card purchase, direct debit or BPAY payment on your Virgin Money Go Account if you have met your Monthly Criteria in the previous month. The Monthly Criteria vary by age and includes a minimum deposit and minimum number of transactions each month that must be made into a Virgin Money Go Account that is issued in the same name. Monthly Criteria:}

•  ^{If you are 25 years and older, deposit $2,000 or more into your Go Account from an external account, and make at least 5 debit card purchases, direct debits or BPAY payments in the previous month which settle in that month (not pending)}
• ^{If you are between 18 and 24 years, deposit $1,000 or more into your Go Account from an external account, and make at least 5 debit card purchases, direct debits or BPAY payments in the previous month which settle in that month (not pending)}
• ^{If you are between 14 and 17 years, no Monthly Criteria apply in order to earn the benefit.}

^{For customers who open a Virgin Money Go Account jointly with another person, the points will be split and evenly allocated to both joint account holders of that account once the Monthly Criteria has been met. For further information refer to our Virgin Money Rewards terms and conditions.}

^{5. Refer a Friend: Earn 5,000 bonus Virgin Money Points where you successfully introduce a friend who successfully opens a new Virgin Money Go Account and makes at least one debit card transaction that is settled (not pending), direct debit or BPAY payment in the first 30 days of account opening. A successful referral must meet the following criteria: Any referred individual must be}

• ^{a person who does not currently or has not previously held a Virgin Money Go Account or Virgin Money Grow Saver and who:}
• ^{has used a unique referral link that is provided by Virgin Money as part of the Refer a Friend program and is shared by you.}
  

^{While there is no limit to the number of friends you can refer under our Refer-a-Friend program, you will only receive bonus points for the first five (5) successful referrals you made in any month. A successful referral only qualifies you to receive one lot of 5,000 bonus points, irrespective of whether the person opens a single or a joint account. This offer cannot be used in conjunction with any other offer codes.}

^{IMPORTANT: Please share your referral link responsibly and only refer close friends and family who might be genuinely interested in a Virgin Money Go Account. Specifically, you must not “spam” other individuals to open a Virgin Money Go Account via unsolicited email, direct mail, newsgroups, message boards, or any other means for purposes of referring a friend. You will only make direct referrals without using any merchant site, keyword bids, black hat SEO, paid advertisements (e.g., pay per click), or other similar methods. You must comply with all applicable laws and regulations, including without limitation those related to the Spam Act 2003 (Cth), trademark, and privacy laws.}

^{We reserve the right to disqualify you from participating in any referral promotions if, in our reasonable opinion, you violated any of these terms, and you will forfeit all Virgin Money Points that have been allocated to your Points balance.}

^{We reserve the right to amend or withdraw this offer at any time without notice, provided that any Points that you have earned prior to such change or withdrawal will be subject to the terms that were in effect at the time it was earned.}

^{6. Purchase Eraser: Purchase Eraser is available for eligible transactions made within the last 90 days. You must have sufficient points to be able to redeem the total value of the purchase through Purchase Eraser. If you redeem your points with Purchase Eraser we will use your points to credit a cash amount equal to the selected transaction into your Virgin Money Go Account. Once the funds have been credited to an account they cannot be reversed to points. Cashback: You may redeem your Virgin Money Points for a cash amount in AUD to be credited to your Virgin Money Go Account, Virgin Money Boost Saver or Virgin Money Grow Saver. Once the funds have been credited to an account they cannot be reversed to Points. Gift Cards: Gift Cards or Vouchers are administered by Ascenda Australia Pty Ltd and are subject to the Ascenda Terms and Conditions. Requested Gift Cards are subject to separate terms and conditions made available at the time of requesting the Gift Card. Once Virgin Money Points have been redeemed for a Gift Card, the Gift Card cannot be returned. Expiry dates will apply.}