Compare bank accounts

Do you need regular access to your savings account?

Yes: If you do need to regularly access your savings, both accounts allow for this.

No: With both Virgin Money saving accounts, you can turn on the Lock Saver Feature and earn even more interest. 32 days notice period applies to access funds when Lock Saver is turned in.

Are you planning to save more than $250,000?

Yes: The Grow Saver has a balance limit of $5,000,000 for accounts in your name (both individual and joint). You can continue to earn interest above $250,000 and up to $5,000,000.

No: The Boost Saver has a balance maximum of $250,000 across all Boost Savers in your name so if your saving balance is under this amount, you can earn more interest with a Boost Saver account.

Are you looking for a monthly account keeping fee-free account option?

Luckily all of Virgin Moneyʼs accounts have no monthly account keeping fees.

Are you willing to meet Monthly Criteria to Bonus savings interest?

Yes: Boost Saver has our most competitive Bonus interest rate if you’re willing to spend a little more time meeting the monthly criteria.

No: Grow Saver may be a better option for you. There are still some monthly criteria to meet to receive the Bonus interest.

Do you require a digital wallet?

Yes: Our Go transaction account has pay on the go with Apple Pay⁷, Samsung Pay⁸ and Google Pay⁹.

No: If you don’t need access to digital wallets, this is included at no extra cost so no need to worry if you don’t use the feature.

Do you need an account for everyday transactions?

Yes: Our Go account is set up for regular, everyday transactions. With plenty of spend tracking features to help you stay on top of your spending.

No: If you’re not looking for an everyday transaction account, it could be worth taking a look at our saving accounts, like the Grow Saver!

Do you want to get rewarded for your everyday transactions?

Yes: Lucky for you our Go account is perfect for earning Virgin Money points! With every single settled eligible purchase using your debit card, direct debit or BPAY payment you make from your Go Account you'll earn 8 Virgin Money Standard Points.¹

No: We reward our customers for transactions and payments, but it will not affect your day-to-day banking. And if you don’t want the points, you can always gift them to a friend! Win-win.

How do you compare bank accounts?

To compare bank accounts, we recommend reviewing the features, account fees, interest rates, as well as benefits and rewards of each account to find one that suits your needs. Luckily, we have broken all of these elements down in the comparison table above. This will allow you to find the best features and rates for your needs.

What is an account keeping fee?

An account keeping fee, also known as a monthly service fee or maintenance fee, is a charge that a bank or financial institution may apply to your account for managing and maintaining it. This fee covers the cost of administering your account, providing services such as online and mobile banking, and processing transactions. Virgin Money does not charge any monthly account keeping fees or domestic ATM fees on any of our transaction or saving accounts.

Why should I compare savings accounts?

Comparing savings accounts can help you find the best fit for your financial needs. It allows you to evaluate different accounts based on your specific requirements, such as low fees, high interest, or excellent customer service.

How often should I compare bank and savings accounts?

It's a good idea to compare bank accounts annually, or whenever your financial situation changes. This ensures you're always getting the best features and rates for your needs.

Can I switch to a different bank account after comparing?

Definitely. If you find a bank account that works better for you, you can apply for a new account and switch over. Virgin Money offers assistance with the switching process, and there are free independent financial counselling services that can also help you with your banking decisions.