Maximise your Avios, air miles and hotel points

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

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We have discussed the Virgin Money International Money Transfer service before on Head for Points.  Their generous mileage offer was due to end last month but has now been rolled over for another year.

The company is offering up to 50,000 Virgin Flying Club miles when you use them to transfer money abroad.

Full details are on their website here.  The offer runs until 12th August 2020.

The amount of Virgin Flying Club 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 by 12th August 2020

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 Money 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 Points from UK credit cards

How to earn Virgin Points from UK credit cards (February 2024)

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

You can choose from two official Virgin Atlantic credit cards (apply here, the Reward+ card has a bonus of 15,000 Virgin Points):

Virgin Money is offering double points on spending until 14th April (£5,000 cap) to new customers when you apply for the Virgin Atlantic Reward+ Mastercard. Click here to learn more.

Virgin Atlantic Reward+ Mastercard

15,000 bonus points and 1.5 points for every £1 you spend Read our full review

Virgin Atlantic Reward Mastercard

A generous earning rate for a free card at 0.75 points per £1 Read our full review

You can also earn Virgin Points from various American Express cards – and these have sign-up bonuses too.

American Express Preferred Rewards Gold is FREE for a year and comes with 20,000 Membership Rewards points, which convert into 20,000 Virgin Points.

American Express Preferred Rewards Gold

Your best beginner’s card – 20,000 points, FREE for a year & four airport lounge passes Read our full review

The Platinum Card from American Express comes with 40,000 Membership Rewards points, which convert into 40,000 Virgin Points.

The Platinum Card from American Express

40,000 bonus points and a huge range of valuable benefits – for a fee Read our full review

Small business owners should consider the two American Express Business cards. Points convert at 1:1 into Virgin Points.

American Express Business Platinum

40,000 points bonus and an annual £200 Amex Travel credit Read our full review

American Express Business Gold

20,000 points sign-up bonus and free for a year Read our full review

Click here to read our detailed summary of all UK credit cards which earn Virgin Points

(Want to earn more Virgin Points?  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.)

Comments (10)

This article is closed to new comments. Feel free to ask your question in the HfP forums.

  • Andrew Ensor says:

    Hi Rob
    I see your value of 1 pence for VA miles as interesting.
    As a family of four travelling to Florida several times over recent years I always get around 1.5 pence per mile and on one occasion over 2 miles per £ ( yes 2 ) on PE seats to Orlando…
    Just booked for next year again where a PE seat is nearly £1400 return.
    That may point out that Virgin prices can be ridiculous in the summer hols.

    • Rob says:

      Not that ridiculous. I was pricing up Lisbon flights on Monday for a Daily Mail article I co-wrote yesterday. Next August, going Sat to Sat, BA wants £400 per person in August to fly to Lisbon in Economy. 15,000 Avios is looking good!

    • TGLoyalty says:

      This is true but is that the cheapest you can get the seat at any time i.e. when sales pop up?

      Could have picked up 2x business seats to USA for £2k on BA not so long ago. You can pick up PE tickets for £700 on a regular basis.

      Go indirect and the prices can fall dramatically whatever the time of year with the right sale.

      ofcourse your tickets are pretty much fully flexible (until outbound is flown)

      • Freddy says:

        I’ve looked a few times at virgin flights to Orlando and have opted for cash in sales rather than using points. Struggled to find a decent redemption

        • Mr(s) Entitled says:

          Convert them to Hilton. Value is not relevant if the only choice is getting something for them rather than an unusable stash.

        • Andrew Ensor says:

          I almost always have to book in the School Holidays so the prices are always high it seems.
          To be Fair we went to Vegas and LA this year and managed to go start of July and found PE flights under £1000 so saved my miles for Orlando as I know they will be better value

  • Lady London says:

    They only want to match a High Street Bank? Even Metro Bank has just ripped me off 3% on a Euro transaction when they said they wouldn’t. They fixed it fully and added a bit if compo, after 2 or 3 rounds of complaints, which is why I continue to recommend them.

    However a High Street Bank is always going to be quite a chunk worse FX than the other providers Rob mentions unless you have a spécial arrangement.

    • Shoestring says:

      worth checking worldremit – excellent rates & introductory discounts if you are transferring bank to bank

    • pablo says:

      Western Union is now also free bank to bank and the rates improve with the amount sent.

  • pablo says:

    Code VMRED25 knocks £25 off your first money transfer and stacks up with the bonus miles.

This article is closed to new comments. Feel free to ask your question in the HfP forums.

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