Extended until January – 3000 Flying Club miles with Virgin Money International Money Transfer

Early November I wrote about Virgin Money International Money Transfer as a new Virgin Flying Club partner. As an introductory offer Virgin Money offered 3000 Virgin Atlantic miles when making your first transaction.

This offer was originally going to end on the 30th November.  This has now been extended until the end of January.

Virgin Money

Virgin Money promises a best price guarantee on all international money transfers, although as this guarantee excludes internet specialists such as Azimo and TransferWise you should treat it with a pinch of salt.

In order to get ‘the best price on the high street’, you need to register an account with Virgin Money and provide the quote you received from any high street bank in writing within three hours of receiving it. Virgin Money will then give you a matching quote.

You need to be a Virgin Atlantic Flying Club member and make your first transaction by 31st January to qualify for the 3000 miles.

The minimum transaction value is £1000 and the miles will be credited to your account within 60 days.

This is not necessarily a ‘no brainer’ deal. The miles are worth around £30 at best and you need to transfer £1000. If the Virgin rates are close to Azimo or TransferWise then you may come out on top but you should definitely do the maths first – the banks are not known for their great rates.

Full terms and conditions can be found here.

The Virgin Money page is here.

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Comments

  1. Shame its only for transfers, as we need some dollars.

    Anyway, I did a quick check on Transferwise and ICE Waterloo.

    For £1000 ICE Waterloo has the best walk-up-and-collect rate — $1,235
    (according to http://travelmoney.moneysavingexpert.com)
    For £1000 TransferWise is offering $1,231

    XE.com says the mid rate is 1.23752

    Virgin Money wont tell you the rate unless you create an account and log in. Can anyone supply today’s dollar rate?

    • I Work for the company that white labels the virgin service, the rate we offer is dependant on volume. Based on the min transfer your looking at 1.2337

  2. I transferred some CAD second week of Nov. Unlike Azimo et al, the rate virgin gives gets updated every 8 seconds and you must lock in to a rate by clicking ‘Accept’ which legally commits you to the currency exchange. Then on you have, from what I can remember, a week or 10 days to transfer the money to them.
    I ended up getting a rate very close to that of Azimo. After discounting the Azimo transfer fees, Azimo was only about £2.50 cheaper than Virgin. And I received my 3000 miles yesterday. That’s 0.08 pence per mile. Bargain.

    • the real harry says:

      I’ll give it another look, then

      last time I checked, Virgin Money was seriously awful compared to the competitors for my currency swap