# Virgin Money incentivises current account switchers with £50 charity donation

- Link: https://fundraising.co.uk/2021/02/16/virgin-money-incentivises-current-account-switchers-with-50-charity-donation/
- Published: 2021-02-16T10:35:27+00:00
- Author: Melanie May

**Virgin Money has created a current account switching incentive that will enable
switchers to its Current Account to make a £50 donation, funded by Virgin Money,
to any one of the 13,000+ charities registered with Virgin Money Giving.**

 

Virgin Money expects the initiative to raise £500,000 for the sector, based on the
anticipated volumes of eligible switchers and using historical data from recent 
switching activity.

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Jo Barnett, Executive Director of Virgin Money Giving, said:

 

> “2020 was an incredibly difficult year for charities. We know they need more help
> and at Virgin Money we want to do what we can to support our third sector and 
> give our charities a much-needed boost. By bringing together Virgin Money and 
> Virgin Money Giving, we’re helping new customers make a free donation to charity
> at what is a really difficult time for the sector. It couldn’t be easier and there
> are thousands of good causes on Virgin Money Giving to choose from.”

 

While it is predicted that charities will have lost at least £10bn in income in 
the 12 months following the start of the pandemic, research conducted in January
by Censuswide suggests that a significant proportion of people (34%) plan to support
charities more over the next 12 months than they have during the last year, with
less than one in ten (9%) planning to reduce their support, despite the pressures
of the current economic environment.  Over half (51%) of those planning to support
charities more said it is because there will be more people in need due to the pandemic,
while 30% think they will be in a better financial position to help.

 

Customers switching to a new [Virgin Money Current Account](https://uk.virginmoney.com/current-accounts/pca/)
can also receive a free luxury case of 12 bottles of wine from Virgin Wines worth
£138. The donation and the wine offer is available to all new Virgin Money Current
Account customers who apply online and complete a full switch using the Current 
Account Switching Service, including two direct debits set-up on the account, downloading
and registering for the mobile app and who deposit at least £1,000 into a linked
savings account within 31 days of the account opening.

 

Fergus Murphy, Group Personal Director at Virgin Money, said:

 

> “Everyone wants something to feel good about right now, so we think we’ve created
> the perfect reward. By giving people £50 to donate to a charity of their choice,
> while also sending them a case of wine, we’re helping customers reward themselves
> and a cause close to their heart.”

 * **[2021 London Marathon was biggest ever day for donations on Virgin Money Giving](https://fundraising.co.uk/2021/10/04/2021-london-marathon-was-biggest-ever-day-for-donations-on-virgin-money-giving/)**(
   4 October 2021)
 * **[Online donations via Virgin Money Giving increase by 26% to £67.4 million](https://fundraising.co.uk/2012/11/23/online-donations-virgin-money-giving-increase-26-674m/)**(
   23 November 2012)
 * **[40 London Marathon runners to win training day from expert running coach](https://fundraising.co.uk/2014/01/21/40-london-marathon-runners-win-training-day-expert-running-coach/)**(
   21 January 2014)