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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.

Virgin Money

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.

Virgin Money

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.)

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Comments

  1. 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.

    • Shoestring 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)

      • 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

  2. 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

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

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

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