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Virgin Money to Lift Club M Account Fee to £14 From February 1, 2026

The bank cites rising third‑party insurance costs as the reason for the change.

Overview

  • The £1.50 rise is the first change to the Club M monthly charge since February 2021.
  • Total cost will be £168 a year, an £18 increase for existing customers.
  • Travel cover moves from AIG to Zurich via Cover‑More (Travel Guard) on February 1, 2026.
  • Virgin Money says it takes no commission on the fee and argues the account remains competitively priced.
  • The change affects only Club M; other Virgin Money current accounts have no monthly fee, and the value of packaged benefits depends on whether customers use them.