FAQs | Virgin Money Australia (2024)

Virgin Money accounts are only available to Australian residents. You need to be at least 14 years of age to open an account.

Simply download the Virgin Money app from the App Store or Google Play and follow the instructions.

This should take no longer than 5 minutes to set up, provided that you have all the required information available.

If you’re opening a joint account, we’ll send a message to the other party and the account will be opened once they have provided their details.

If we can’t identify you electronically, we’ll email you a form so that you can complete your ID at your nearest Aus Post outlet.

Please note: Unfortunately we’re not able to open accounts for anyone who cannot provide us with valid Australian identification documents.

All applicants must complete formal identification before an account can be opened.

• Can I open a business account?

No, our transaction and savings account are for personal use only.

• Can I use a transaction or savings account as an offset for my Virgin Money Home Loan?

Not at this time.

For anyone transferring funds into your Virgin Money Go Account, Boost Saver or Grow Saver accounts you’ll need to provide our Virgin Money BSB 122-778 and Account number.

You can locate the BSB and your Account number in the app on the Accounts screen anytime.

1. Log in to the Virgin Money app.
2. Tap the 'Account' icon in the bottom menu.
3. Select the account
4. Click on Account
5. Select ‘Copy BSB’, ‘Copy account number’ or ‘Copy both’.

Important to know, that Bank of Queensland (BOQ) may show up as the receiving bank. The reason for that is because we're a subsidiary of BOQ.

It’s super easy to update your details in the app, when entering your mobile number, always use the country code, so for Australia enter +614XXXXXXXX.

1. Log in to the Virgin Money app
2. Tap the ‘Profile’ icon in the bottom menu
3. Select ‘My details’ from the menu
4. Select the detail you’d like to update from the menu
5. Enter the one time PIN
6. Select ‘Done’ to save your details

Important to know, these updates only apply to the Virgin Money products you can manage in the app. If you need to update your details for other Virgin Money products, call us on 13 81 51.

If anyone knows how to access your phone, call us. If not, when you have a new phone, download our app and follow the existing customer option to get back up and running.

1. Log in to the Virgin Money app
2. Tap the ‘Profile’ icon in the bottom menu
3. Select ‘My details’ from the menu
4. Click on "Mobile"
5. Enter your new phone number
6. Click on 'Confirm'
7. Enter the one time PIN
8. Select ‘Done’ to save your details

If you have a Digital Wallet (Samsung Pay or Apple Pay), please contact us immediately so we can suspend your Mobile Wallet to avoid any fraudulent transactions.

Call our Customer Care Team on 13 81 51 or +61 2 9060 5460 if you’re overseas.

You can update your local mobile number in the app. You’ll need to have access to your current and new mobile number as we’ll send an OTP to both numbers, when entering your mobile number, always use the country code, so for Australia enter +614XXXXXXXX.

1. Log in to the Virgin Money app
2. Tap the ‘Profile’ icon in the bottom menu
3. Select ‘My details’ from the menu
4. Click on "Mobile"
5. Enter your new phone number
6. Click on 'Confirm'
7. Enter the one time PIN
8. Select ‘Done’ to save your details

You can have a maximum of 5 devices linked to your account so you may need to talk to our team to remove old devices if you’ve reached the maximum allowed.

If you need to update an International number (that’s to or from and international number), you’ll need to call our Customer Care Team on 13 81 51 or +61 2 9060 5460 if you’re already overseas.

Call us immediately on13 81 51, you should also put a hold on your card in the app, head to the card management screen.

Temporarily lock your card

1. Log in to the Virgin Money app
2. Tap the 'Profile' icon in the bottom menu
3. Tap ‘Manage cards’ in the menu
4. Select the account you’d like to lock the card for
5. Tap ‘Lock card temporarily’

You can unlock it instantly by toggling the switch to ‘off’

If you’re trying to access your Virgin Money app, your Customer ID is the mobile number you used to set up your account.If you enter an incorrect access code 3 times your access will be blocked and you’ll need to speak with our team to have the block removed.

Please note:If you can’t remember the answers to your secret questions 3 incorrect responses block access. You’ll need to speak with our team to have the block removed and your questions reset.

Give us a call on13 81 51

The Virgin Money App supports both Touch ID and Face ID. You’ll be prompted to enable Touch ID or Face ID when you set up your account and you can still use a passcode if you prefer.

1. Log in to the Virgin Money app
2. Tap the 'Profile' icon in the bottom menu
3. Tap ‘Security’ in the menu
4. Toggle the ‘Biometric ID’ switch on or off

You can close your account in the app and you’ll be walked through the process including transferring any funds available to another account.

1. Log in to the Virgin Money app
2. Tap the 'Account' icon in the top menu
3. Choose the account you want to close
4. Select the ‘...’ icon in the top right corner
5. Select ‘Close account’ from the menu
6. Follow the steps to close your account

Important to remember to download all your statements before you close your account, if you need copies after you’ve closed the account and you have deleted the app, there will be a fee charged to have them posted to you.

Devices we currently support are:

• Apple devices - iOS 12.0 or later
• Android devices - Android 8.0 or later

While the app is optimised for Android and Apple smartphone operating systems, it will still work on tablet devices.

You can login to your account from multiple devices (smartphones, tablets with the operating systems noted above).

You can have a maximum of 5 devices linked to your account so you may need to talk to our team to remove old devices if you’ve reached the maximum allowed.

Funds held in a Virgin Money Go Account, Boost Saver or Grow Saver Account are covered for up to $250,000 by the Australian Government Deposit Guarantee Scheme. These are covered as Virgin Money is part of the BOQ Group.

It’s important to note that the $250,000 limit applies to all funds held by the BOQ Group overall, so if you have funds in a BOQ account for example, these funds must be included in the $250,000 covered.

Monthly fees? Nope, none, zilch.

Currently ATM access is free via the BOQ ATM Network and the 4 major banks.

Although Virgin Money doesn’t charge domestic ATM withdrawals fees, some financial institutions or independent ATM operators may charge fees for using their ATMs and there are fees for balance enquiries and international ATMs.

You can check out our fees here.

If you still have a question (or two) the easiest way to contact our team is to send us a secure Chat message in the app.

1. Log into the Virgin Money app
2. Click on 'Profile'
3. Select 'Help & Support'
4. Tap 'Contact us'
5. Select a product
6. Click on 'Chat to us'

If we are unavailable, you can still send a message and we will reply as soon as possible.

If you really do need to talk, give us a call on 13 81 51

Visit the Contact Us page for more details.

You can report your card lost / stolen in the app, head to the card management screens and you’ll be walked through the process, you can also check recent transactions for fraud and order a new card.

1. Log in to the Virgin Money app
2. Tap the 'Profile' icon in the bottom menu
3. Click on ‘Manage cards’
4. Select the account you’d like to report the card on
5. Tap ‘Report card lost or stolen’
6. Follow the prompts to report your card lost and order a replacement

If you’ve also lost your phone, call us on 13 81 51

Your physical Visa debit card will arrive within 5 - 7 business days of your account opening.

When you have your card in your hands, you can activate your debit card in the mobile app.

1. Log in to the Virgin Money app
2. Tap the 'Profile' icon in the bottom menu
3. Tap ‘Manage cards’ in the menu
4. Select the account you want to activate the card for
5. Tap ‘Activate card’
6. Enter your desired PIN twice
7. Enter the one-time code we send you to confirm the change. Done!

When using your card to purchase, you can select debit or credit on the merchant terminal to access your funds.

Temporarily lock your card

Temporarily lock your card

1. Log in to the Virgin Money app
2. Tap the 'Profile' icon in the bottom menu
3. Tap ‘Manage cards’ in the menu
4. Select the account you’d like to lock the card for
5. Tap ‘Lock card temporarily’

You can unlock it instantly by toggling the switch to ‘off’

Your physical Visa debit card will arrive within 5 - 7 business days of your account opening.

If your phone supports Apple Pay, Samsung Pay or Google Pay there’s no need to wait for your physical card to arrive, we’ll guide you on how to set up and activate your PAYs when you open your account.

1. Log in to the Virgin Money app
2. Tap the 'Profile' icon in the bottom menu
3. Tap ‘Manage cards’ in the menu
4. Select the account
5. Add to wallet
6. Choose a card PIN
7. Enter verification code sent to the registered mobile number
8. Follow the prompts

Log into the app and send us a secure chat message

It’s important to know that by letting us know your travel details, this doesn’t mean that we won’t need to block your card if we see suspicious transactions, it greatly reduces the chance of it occurring.

Verified by Visa is a safer way to make online purchases with your Virgin Money Visa Debit Card. It provides you with an SMS Code to enter at checkout to authenticate the purchase and to ensure that only you may complete the transaction.

How does Verified by Visa work?

When you’re shopping online at participating retailers (merchants that have signed up to Verified by Visa) we may request you to enter an SMS Code before finalising your purchase. This SMS Code will be sent to your mobile phone and will provide us with confirmation that you are the person making the purchase on your card.

To continue shopping securely and without any inconvenience, make sure that we have your up-to-date contact details. We need your correct mobile number so that you can receive your SMS Code when making an online purchase.

If you still have a question (or two) the easiest way to contact our team is to send us a secure Chat message in the app.

1. Log into the Virgin Money app
2. Click on 'Profile'
3. Select 'Help & Support'
4. Tap 'Contact us'
5. Select a product
6. Click on 'Chat to us'

If we are unavailable, you can still send a message and we will reply as soon as possible.

If you really do need to talk, give us a call on13 81 51

Visit the Contact Us page for more details.

Pay Anyone and BPAY transfers can take 1 - 2 business days.

PayID and OSKO payments should be processed almost instantly, however these processing times can vary depending on payment rules and processing times of the other financial institution.

For outgoing payment you have up to $5,000 daily limit and you can increase this amount to $20,000.

Scheduled transfers and savings plan transfers can only be made when there are sufficient cleared funds in your account by midnight the day prior.

If there are not enough cleared funds then that scheduled payment will not occur and will need to be submitted again, however future scheduled payments will continue to take place.

Scheduled payments that fall on a non-Business Day will usually happen the next Business day. If you would like to cancel a scheduled transfer or savings plan then you must cancel the day prior to the scheduled transfer taking place.

For outgoing payment you have up to $5,000 daily limit and you can increase this amount to $20,000.

To update your daily transfer limit

1. Log in to the Virgin Money app
2. Tap the 'Profile" icon in the bottom menu
3. Tap on ‘Manage payment limits’ from the menu
4.Tap on ‘Pay someone limit’

For amounts above $20,000 you can arrange for a limit increase that will apply until midnight the day of the change, this can be done within the mobile app.

For OSKO payments there is a daily limit of $1,000 and this cannot be increased.

• Pending transactions

Transactions remain as Pending until they have been processed by the merchant. The amount of the pending transaction is placed on hold and deducted from your available balance during this time.

Important to know that it can take up to 14 business days for a merchant to process a transaction and is not in Virgin Money’s control.

• Pre-Authorisations

Pre-Authorisationsare similar to pending transactions. They are usually placed on your account by hotels, rental car agencies and other business that require an amount as security when you book through them.

Pre-Authorisationswill appear on your account as a pending transaction, they will remain there until the merchant releases the funds, the transaction will then disappear from your transaction list.

Let us know straight away, and we’ll do our best to investigate the charge and resolve the issue as quickly as possible. Visa has set rules and timelines for the dispute process, which can sometimes take up to 180 days to resolve.

It’s important to know that you will need to contact the merchant to resolve issues relating to refunds or exchanges if you change your mind, Monthly subscriptions or memberships if you wish to cancel.

If the transaction you dispute is pending, the transaction will need to be processed by the merchant fully before we can raise a dispute on your behalf, this can take up to 10 days.

If you need help give us a call on13 81 51

Cash and cheque deposits can be made at a Bank of Queensland branch and you may incur a fee. You will need to complete adeposit formand take it with you when you make your deposit.

If you have a cheque to deposit and don’t have a BOQ branch nearby, you can post it to us at,

Domestic and High Volume Payments (DHVP)
Level 4, 100 Skyring Terrace
Brisbane
Queensland 4006

Please note:This is not a customer accessible area.

Make sure you write your name and account number you want the cheque deposited to on the back of the cheque. You will also need to complete ourdeposit formand send it in with your cheque.

Important to know, we can only accept cheques made out to the name of the Virgin Money account holder.

You can transfer money into your account from any Australian banking account, you just need to use your BSB and account number, you can also provide these details to your employer and have your salary paid directly to the account.

If you’ve set up PayID you can transfer money into your account and access it straight away (if you’re other banking account offers this service).

If you still have a question (or two) the easiest way to contact our team is to send us a secure Chat message in the app.

1. Log into the Virgin Money app
2. Click on 'Profile'
3. Select 'Help & Support'
4. Tap 'Contact us'
5. Select a product
6. Click on 'Chat to us'

If we are unavailable, you can still send a message and we will reply as soon as possible.

If you really do need to talk, give us a call on13 81 51

Visit the Contact Us page for more details.

As a digital bank we don’t offer post as an option. Your statements are easily accessible within the app and you can download whenever you need them.

1. Log in to the Virgin Money app
2. Tap the 'Profile' icon in the bottom menu
3. Tap on ‘Statement and documents’
4. Select the account you’d like a statement for
5. Select the statement needed

If you want to download a statement, tap the ‘Share icon’ in the top right hand corner.

Please note:Statements are issued every 3 months for Transaction accounts and 6 months for Savings accounts. We’ll let you know when they are available for viewing / downloading from the mobile app.

If you need a tax statement that shows interest earned on all your accounts, go back to ‘Statements and documents’ and select ‘Interest summary’

An interim statement will cover the period from your last statement date until the day of the request.

1. Log in to the Virgin Money app
2. Tap the 'Profile' icon in the bottom menu
3. Tap on ‘Statement and documents’ from the menu
4. Select the account you’d like a statement for
5. Tap on 'Request interim statement'
6. Click on 'Confirm'

Interest summary statements showing all interest earned for the previous financial year will be available from the 15th July and available from the Statement and Documents screen in the app.

You can also calculate interest received:

1. Log in to the Virgin Money app
2. Tap the 'Accounts' icon in the bottom menu
3. Select your savings account
4. Select the ‘Activity’ icon
5. Enter the dates of the relevant financial year
6. Tap ‘Transaction type’
7. Select ‘Interest’ from the list
8. Click on ‘Apply’
9. Calculate the interest you’ve been paid

Please note: If you’re completing your tax return in July 2023, you’ll need to search from 1 July 2022 to 30 June 2023

• Grow saver account: The Bonus rate is achieved by making at least 1 deposit and no more than 1 withdrawal (including any internal transfers or Pay Someone transfers) out of your Grow Saver.
  
• Boost saver account: The Bonus Interest Rate applies up to the aggregate balance of $250,000 across all Boost Savers accounts that are held in the same name.

It is applicable for any month, where the Monthly Criteria was achieved in the immediately preceding month.

The Monthly Criteria must be made into a Virgin Money Go Account that is in the same name as your Boost Saver.

Make 5 or more settled card transactions in a single month to earn bonus interest on your balance in the next calendar month.

1. Meet the bonus interest criteria in month one.

2. Interest is calculated on the balance of your account in month two.

3. Interest is paid on first day of month three.

Please note :Transactions that are pending do not count as a transaction for the previous calendar month, and will be counted in the following calendar month.

You can find all our latest rates here.

Interest is calculated from the day funds are credited to your account. It is calculated daily by applying the applicable interest rate to the closing balance of your account each day as follows:

Daily closing balance x interest rate (per annum)
Number of days in the year (365 or 366 days)

We will credit interest to your account at the close of business on the last day of each calendar month. The interest credited to your account will only be included in the closing balance from the first day of the next calendar month.

You can find all our latest rates here.

If you still have a question (or two) the easiest way to contact our team is to send us a secure Chat message in the app.

1. Log into the Virgin Money app
2. Click on 'Profile'
3. Select 'Help & Support'
4. Tap 'Contact us'
5. Select a product
6. Click on 'Chat to us'

If we are unavailable, you can still send a message and we will reply as soon as possible.

If you really do need to talk, give us a call on13 81 51

Visit the Contact Us page for more details.

You’ll get access to Virgin Money Rewards with any of our transaction or savings accounts:

• Virgin Money Go Account
• Virgin Money Boost Saver
• Virgin Money Grow Saver

Earn points on every purchase, BPAY payment and direct debit. You’ll also be able to earn points through a huge range of partner offers and booking hotels. Not to mention, you’ll get access to other epic perks and experiences along the way.

Visit Virgin Money Rewards FAQ's for more information

We love to give, so there's heaps of ways to earn points:

• For making a purchase, direct debit or BPAY payment on your everyday Virgin Money Go Account.
• Partner offers - earn points from shopping with our partners via the "Offers from our partners" section of the Rewards Hub
• Booking a hotel - earn 5 points per dollar spent via the "Book Travel" section of the Rewards Hub
• Referring a friend- earn bonus points by referring a friend to their first Virgin Money Go Account (T&Cs apply)
• Welcome bonus on a new Virgin Money Go Account (T&Cs apply)
• Just for being you. We’ll find the perfect moment to surprise you with bonus points, little perks or special offers, just to say thanks

Getting up and running is easy if you’re already a customer and have the app. Just head to theRewards hub> Earn to start earning today.

Learn all the ways to earn points

You can earn Virgin Money Points when you make a travel booking through Virgin Money Rewards.

Booking is easy

1. Log into the Virgin Money app
2. Click on 'Rewards'
3. Select 'Earn'
4. Book Travel

Enter your trip details to browse real-time availability and rates and book the stay that’s right for you.

Please note: Hotel bookings must be made at least 24 hours before your check-in date.

If you’re booking one room, you can book a maximum of up to four adults and four children.

Your points will land in your Points Activity within 24 hours of completing your stay at the hotel.

Visit Virgin Money Rewards FAQ's for more information

Our Customer Care Team is always here to help.

Chat to us directy via the app.

1. Log into the Virgin Money app
2. Click on 'Profile'
3. Tap 'Help & Support'
4. Click on 'Contact us'
5. Select a product
6. Click on 'Chat to us'

You can also give us a call on13 81 51

You can choose from a wide range of personalised offers from Virgin Money Partners.

1. Log into the Virgin Money app
2. Click on 'Rewards'
3. Select 'Earn'
4. Click on 'Partner offers'
5. Search through available offers
6. Check out the offer details and make your choice.

Just remember, terms and conditions vary and can be found on the detailed screen for each offer.

To recieve bonus points simply pay for the transaction in accordance with the terms and conditions of the offer with your Virgin Money debit card and points will be credited to your account within 5 business days– it’s that easy. For selected online offers, clicking through to the merchant site from the Virgin Money Rewards app is required in order to receive the bonus points.

Please note: Card transactions that are pending won’t receive points till the transaction has been cleared in your account. As soon this happens, you’ll typically receive the bonus points within 24 hours, but these may take up to 5 business days to appear in your Points Activity.

Visit Virgin Money Rewards FAQ's for more information

You can easily transfer your Virgin Money Points to a gift card (eVoucher) via Virgin Money Rewards.

1. Log into the Virgin Money app
2. Click on 'Rewards'
3. Select 'Redeem'
4. Click on 'Redeem points for gift cards'
5. Browse gift cards.
6 Select your preferred gift card,
7. Choose the value and boom, it’s yours

Validity of gift cards varies by merchant. The typical validity period is 3 years from redemption, unless otherwise specified on the check-out screen.

Please note: All of our gift cards are e-vouchers and issued instantly upon redemption and sent to you via email after your purchase.

Your Gift card e-voucher is also saved in the Rewards Hub in your Virgin Money app. Simply search under My points history> Redeem.

Gift cards can be used online or if the merchant has a store, you can use them instore as well by scanning the e-voucher barcode.

Visit Virgin Money Rewards FAQ's for more information

Turn your cash into points, then your points into cash – now that’s fun! Transferring your Virgin Money Points to cash is easy.

1. Log into the Virgin Money app
2. Click on 'Rewards'
3. Select 'Redeem'
4. Click on 'Redeem points for cash'
5. Link the Virgin Money account that you would like to receive the cash credit,
6. Select the number of points to be redeemed (a minimum of 500 is required and can be made in increments of 500 after that)
7. Select Redeem and that’s it. Simple.

We won’t keep you waiting. Cash will be credited within minutes to your chosen Virgin Money account.

Visit Virgin Money Rewards FAQ's for more information

If you still have a question (or two) the easiest way to contact our team is to send us a secure Chat message in the app.

1. Log into the Virgin Money app
2. Click on 'Profile'
3. Select 'Help & Support'
4. Tap 'Contact us'
5. Select a product
6. Click on 'Chat to us'

If we are unavailable, you can still send a message and we will reply as soon as possible.

If you really do need to talk, give us a call on13 81 51

Visit the Contact Us page for more details.