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.
EDIT: This offer has now ended, because Virgin Money has ended its relationship with WorldFirst who provided this service.
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.
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.)