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Virgin Money Review

as of 06/03/2020 at 10:24 am

Holly's View

Needs work. Virgin aspires to be seen as a cool disrupter so I wasn’t expecting the diversion from web to paper-based investment journey. I don’t enjoy my leaflet which is posted every 3 months with a performance update. Oh dear. Probably much better for ISAs than general investment accounts.

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Recommended For

Beginner Investor

In a nutshell

Really simple

6 investment options

Sub-standard online

Visit Virgin Money

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Your overall rating

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Don’t want to take our word for it? We ask existing customers and investors to rate their experience with the company – based on value for money, overall service and the website. We need at least 20 customer reviews before we add anyone to our Best Buys list.

Based on 18 reviews

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We love customer reviews because it’s the only way we can check the user experience across a meaningful sample of independent people. We collect all of your reviews and use them to calculate the overall “You Say” score for each provider. We also use this customer rating in our analysis, to make sure we’re not rewarding companies which look good online but fail to deliver in practice. Finally we use the aggregated data in our research and consultancy with providers, so we can tell them what customers love or hate and help them to improve.

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What to Expect

  1. Ease of use
  2. Mobile & Apps
  3. Customer opinion

Virgin does start off quite well with a simple online journey where you select one of 5 ready-made funds. The front end is well signposted and easy to use.

But outside of the ISA journey it quickly went horribly wrong and we ended up in a snail mail universe. Performance updates and valuations come quarterly when a leaflet is posed. Blimey.

Virgin Money don’t currently have an app.

It’s a slow process for investment accounts.

Could be better for ISAs?

This wordcloud has been created from customer reviews of Virgin Money.

Pink is positive and grey is negative. The size of the word indicates the frequency of mentions.

Investment Choice

Products

Stocks and Shares ISA

Investment Account

Investments available

Own brand funds

Ethical investments

Investment help

Robo advice / ready-made portfolios

The 'Geeky' Details

Provider details

This is a pretty simple choice and will suit newcomers who just want to get going with a brand they know and trust. There are five ready-made solutions from which to choose. There is also a sixth investment option: the Climate Change Fund. There are no individual company shares or funds from other groups.

The charges range from 0.6-1% a year all-in for their simple ‘passive’ portfolios. This is the vanilla ice cream option for the stocks and shares ISA world. Move on if you’re after double choc chip with sprinkles.

Important Facts & Figures

Provider Size:

Mid-sized investment service from the bank
Minimum amounts: £500 minimum initial amount for the Climate Change fund (or £100 monthly, or £50 monthly if by direct debit)
£1 minimum initial amount for all other funds

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