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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.

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  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.

  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.

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

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