Get up to 50,000 Flying Club miles with Virgin Money International Money Transfer!

Links on Head for Points may pay us an affiliate commission. A list of partners is here.

We have discussed the Virgin Money International Money Transfer service before on Head for Points.  There is usually no special deal running, but occasionally we have seen 3,000 Virgin Flying Club miles on offer.

They have clearly decided to step things up a bit, because the company is now offering up to 50,000 Virgin Flying Club miles when you use them to transfer money abroad.

Full details are on their website here.

Virgin Money

The amount of miles you earn depends on the size of your transfer:

£5,000 – £9,999 – earn 2,500 miles

£10,000 – £19,999 – earn 5,000 miles

£20,000 – £49,999 – earn 10,000 miles

£50,000 – £99,999 – earn 25,000 miles

£100,000+ – earn 50,000 miles

You only earn miles on your first transfer.  This seems a bit short-sighted to me, because I think many people would want to test the company out with a smaller amount before putting £100,000+ on the line.

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.

Here is a summary of the small print:

You need to be a Virgin Atlantic Flying Club member and not already have a Virgin Money International Money Transfer account

You must complete your transaction between 10th August and 29th November 2018

If your first transaction is over £5,000 you will qualify for miles which will be credited to your account within 60 days

This is not necessarily a ‘no brainer’ deal.  The miles are worth around 1p each at best.  If the Virgin rates are close to Azimo – or, for larger sums, Caxton FX, HiFX etc – then you may come out on top but you should definitely do the maths first.

Full terms and conditions can be found here.

The Virgin Money page is here.

How to earn Virgin Atlantic miles from UK credit cards

As a reminder, there are various ways of earning Virgin Flying Club miles from UK credit cards.  Many cards also have generous sign-up bonuses!

Click here to read our detailed summary of all UK credit cards which earn Virgin Flying Club miles.  That page is regularly updated with the latest special offers and will still be accurate even if you are reading this article months after publication.

(Want to earn more Virgin Flying Club miles?  Click here to see our recent articles on Virgin Atlantic and Flying Club and click here for our home page with the latest news on earning and spending other airline and hotel points.)

Bits: join Virgin's pub quiz [or not], up to 6000 Emirates miles with a Sixt car rental, £30 Radisson cashback via Amex
Excellent 2-4-1 First and Business deals from the UK, from £999, with Lufthansa and SWISS
Click here to join the 14,000 people on our email list and receive the latest Avios, miles and points news by 6am.

IHG Sale
Amazon ad
About Head for Points

We help business and leisure travellers maximise their Avios, frequent flyer miles and hotel loyalty points. Visit every day for three new articles or sign up for our FREE emails via this page or the box to your right.

Comments

  1. Hmm pretty high numbers needed to get those miles. Preferred the WorldRemit offer which only needed £400 spend to get £55 c/back plus £20 on next transaction – worth about 10k miles at 0.75p/mile.

  2. Jovanna says:

    I signed up for this last year when the offer was transfer £1000 for 3000 Virgin Flying Club Miles.

    I tried to transfer £1000. Virgin Money suspected me of money laundering and held on to the cash. Cue several phone calls / emails, scans of passports, bank cards, bank statements, wage slips etc. etc,

    • The 3000 mile offer worked in combination with the Virgin Red £25 off code VMRED25 The code is still valid.

    • Lady London says:

      for a pathetic £1000? I am struggling to believe they would be so stupid.

      • Jovanna says:

        I’m just relieved that this wasn’t the offer running previously. I could have had a good ‘chunk’ of cash tied up.

  3. Do you know if the ISA is for first timers still – did it a couple of years ago and happy to do again if I get the bonus – couldn’t see on my brief look of the link

    • This offer is not available to Virgin Atlantic Flying Club members who make a payment into an existing Virgin Money Stocks and Shares ISA, or who opened a Virgin Money Stocks and Shares ISA previously and received Virgin Atlantic air miles

      • Wally1976 says:

        As a data point – my wife had a Virgin ISA in the last tax year (2017/18). Closed and re-opened for this year and no miles have been paid. I, on the other hand, have had a Virgin ISA before but not in the 2017/18 year and DID get the miles. YMMV

  4. @Harry I’m still waiting for Orbis to offer 100 quid for taking out their ISA…

  5. Optimus Prime says:

    Regarding the Virgin ISA – so even though it requires just six consecutive monthly payments you have to leave the money in for 12 months?

    • Genghis says:

      Not necessarily. “If you close the ISA within twelve months, Virgin Money reserves the right to deduct the Flying Club miles from your Flying Club account.” I.e. you can withdraw most of the cash but keep a nominal sum in to keep the account open for 12 months.

  6. I need to send money from Jordan to the UK regularly. Does anyone know of a better way than dreaded Western Union?

    • For small sums would Revolut do it? Otherwise, as per the links in the article, Azimo and TransferWise are very cheap.

      • I have all three services but it seems that my Jordanian cards are not accepted. By country.

        • I recommend currencyfair – the rates easily beat TransferWise et al. If you really want to push your rates down then sign-up there, go ask Amex FX for an account and reference currencyfairs rates – I now have almost spot-rate intraday transfers.

        • Thank you, currencyfair seems like a great help. Amex FX only for business though right?

  7. OT – I heard the AMEX BAPP card may be ceasing but I think that could be false. Any insight?

    • There is no logic in either of the Amex cards continuing, since they are now ‘fee capped’. A Mastercard / Visa provider would have the same economics but with the advantage that the card would be accepted in more places.

      I see no logic in dumping the BAPP card though as that will be more profitable than the free card.

  8. I tried to figure it out based on the website, but couldn’t. Can I use this “Virgin Money International Money Transfer service” just to actually transfer money as opposed to transferring and converting? E.g. I want to transfer GBP from my account in the UK to my account in Japan. The account in Japan is also in GBP. How much would they charge, would it be better than the standard SWIFT fee, and would it trigger the miles bonus?

    I’m asking just in case somebody already asked this before trying to ask it myself 🙂

  9. Given 50k miles gets you a one way from JFK – LON a back-to-back trade is well worth it…if you catch my drift

    • Memesweeper says:

      Not everyone has 100k to transfer speculatively… and even those who do would need somewhere safe to send it!

    • Genghis says:

      What kind of net cost are you calculating?

Please click here to read our data protection policy before submitting your comment.