Virgin Money launches its first current account app
Virgin Money has launched its first digital current account and mobile app as part of its bid to shake up the UK financial services market.
The launch of the account, which is being made available through the new mobile app, online, telephone and in-store, is part of a wider revamp of the Virgin Money brand.
The bank is aiming to break its bigger rivals' stranglehold on the UK's current account market.
The Virgin Money Current Account pays 0.5% interest on credit balances up to £2,000.
It also has a linked easy access savings account paying interest on total balances at 1%.
Many current accounts nowadays pay no interest on customers' balances at all in the low interest rate environment.
Virgin Money said the new current account also features budgeting and savings tools and features to identify spending.