You're getting a Virgin Money Makeover

As you know we're giving your existing Cash ISA Fixed Rate Bond a Virgin Money makeover and it will soon become a Virgin Money Cash ISA Fixed Rate Bond.

Our Stores, digital services and current accounts have already been updated – now it’s time for our savings customers to get the full Virgin Money treatment. You’ll have started to see our logo on things like statements and emails, and we’ll say hello from Virgin Money whenever you call.

What’s happening when?

On 30th July 2021, your existing Yorkshire Bank Cash ISA Fixed Rate Bond will become a Virgin Money Cash ISA Fixed Rate Bond and we’re making some changes to your Terms too.

What are the main changes?

• Updated Terms - From 30 July 2021, we’re changing your Cash ISA Fixed Rate Bond Terms so that when the rate you are currently on comes to an end, your account will switch to a Virgin Money Flexi Cash ISA (instead of transferring to another Cash ISA Fixed Rate Bond). We’ll make the switch automatically unless you ask us not to and you can check out your updated Terms below.

Frequently asked questions

What happens when my Cash ISA Fixed Rate Bond comes to an end?

When your Cash ISA Fixed Rate Bond matures, unless you tell us otherwise, your account with automatically transfer to a new Flexi Cash ISA.

Our Flexi Cash ISA gives you flexibility. You'll get instant access to your money whenever you need it, combined with interest on your savings. You can add, withdraw money or close your account at any time. You'll also be able to manage your account using the new Virgin Money mobile app, online, over the phone or in Store.

Where can I find the Terms for the Virgin Money Cash ISA Fixed Rate Bond?

You can view your terms here.

What are the changes to my Terms?

The table below details the specific changes being made to your Cash ISA Fixed Rate Bond Terms. You can view your terms here.

In the key features section under “What is an ISA?” the following wording has changed.

On Maturity of your Cash ISA – Fixed Rate Bond, unless you tell us otherwise, your account will be reinvested into a new Cash ISA – Fixed Rate Bond of a term closest in length to your original Cash ISA – Fixed Rate Bond term. We will write to you with details before Maturity.

This document explains the key features of the above Bank Cash ISAs.

On Maturity of your Cash ISA – Fixed Rate Bond, unless you write and tell us otherwise, we’ll automatically transfer your account to a Flexi Cash ISA.

We will write to you before Maturity to tell you about the Flexi Cash ISA that your account will be transferred into. This will be one of our Flexi Cash ISA with an issue number. You should also check our website to find out more information on our full range of alternative ISAs we’ve got available.

The following wording has changed within Section 8 – Interest of the Clydesdale and Yorkshire Bank ISA Terms, under the header "Terms applicable to a Cash ISA – Fixed Rate Bond only:"

(i) The rate of interest applicable on the Cash ISA – Fixed Rate Bond is published in the Tariff (as applicable) and may be obtained from any Bank branch or your relationship manager. The interest rate will be advised and confirmed to you in the Tariff (as applicable) and will not vary during the term advised on your Tariff (as applicable).

(ii) Interest is calculated daily on the cleared balance in the Cash ISA – Fixed Rate Bond Cash Account on that day and is credited to the Cash ISA – Fixed Rate Bond Cash Account at Maturity, or on Account closure if earlier. Interest may also be credited annually if confirmed on the Tariff.

i) The rate of interest applicable on the Cash ISA – Fixed Rate Bond is published in the Tariff (as applicable) and may be obtained from any Bank branch or your relationship manager. The interest rate will be advised and confirmed to you in the Tariff (as applicable) and will not vary during the term advised on your Tariff (as applicable).

(ii) Interest is calculated daily on the cleared balance in the Cash ISA – Fixed Rate Bond Cash Account on that day and is credited to the Cash ISA – Fixed Rate Bond Cash Account at Maturity, or on Account closure if earlier. Interest may also be credited annually if confirmed on the Tariff.

(iii) On Maturity of your Cash ISA – Fixed Rate Bond Cash Account, interest will be paid to your Cash Account as above, and unless you write and tell us otherwise, we’ll automatically transfer your account to a Flexi Cash ISA. Remember, when your account is transferred to a Flexi Cash ISA new terms and conditions will apply.

We will write to you before Maturity to tell you about the Flexi Cash ISA that your account will be transferred into. You should also check our website to find out more information on our full range of alternative ISAs we’ve got available.

Are there any fees for the Virgin Money Cash ISA Fixed Rate Bond?

Charges apply to a Cash ISA Fixed Rate Bond for early closure or transfer during the fixed term advised on your Tariff (as applicable).

There are no charges on the Virgin Money Cash ISA Fixed Rate Bond.

There may be fees for additional services such as providing duplicate statements.

These fees are included in our Tariff.

When do I receive interest on my Virgin Money Cash ISA Fixed Rate Bond?

If you have a Flexi ISA or a Help to Buy: ISA your interest will be paid annually on 31st December.

If you have a Cash ISA Fixed Rate Bond please see table below:
* or the last working day before this date if the date falls on a non-working day

Further details can be found in the Key Features (PDF, 140 KB) document (terms and conditions of the account)

What if I want to withdraw money from my Virgin Money Cash ISA Fixed Rate Bond?

Part withdrawals from your Cash ISA Fixed Rate Bond are not allowed during the fixed term of the Account as notified to you in the Tariff (as applicable). Subject to the terms below, you can ask us to close and withdraw the full cleared balance in your Cash Account by writing to the Cash ISA Team. Early closure or transfer of the Account prior to Maturity will be subject to the following charges as set out below.

When will we contact you?

We'll send you more information about the Flexi Cash ISA, including the terms and interest rate available, approximately 4 weeks prior to your Cash ISA Fixed Rate Bond coming to an end.

For example, if your account comes to an end in October 2022, we will send you this information in September 2022.

Can I still use Internet Banking?

Yes, you can continue to view your account on internet banking and you’ll ne able to use Virgin Money internet banking now too.

I use the mobile app. Can I continue to use it?

Yes, you can still use your existing app. But you might want to switch. Our new Virgin Money mobile app is available now. Just make sure you have the most up to date version of the Yorkshire Bank app, then download the Virgin Money mobile app. We’ll take it from there - just follow the instructions. To warn you up front, you’ll need your passcode.

Don't want a Virgin Money Flexi Cash ISA?

Check out our website around the time your account comes to an end to learn more about our other accounts which are available, subject to status and eligibility. You can also close your account at maturity as your Terms explain.