How to Cancel Virgin Money
Virgin Money (formerly Clydesdale and Yorkshire Bank) allows account closure through multiple channels. The Current Account Switch Service simplifies the process if you are moving to another bank.
Steps verified March 2026
Quick Facts
Cancel online?
No — phone/letter required
Pause option?
No
Refund policy
Remaining balance transferred to your nominated account on closure.
After cancellation
Account records retained for at least 6 years per FCA regulations.
What to Watch Out For
- Offers incentives and benefits review during the closure process
Cancellation Steps
Go directly to Virgin Money cancellation pageSet up a new account
Open an account with your new bank before closing your Virgin Money account.
Use the switching service
Ask your new bank to switch your account using CASS. This transfers everything and closes your old account.
Or contact Virgin Money
Call 0800 121 7365, visit a Virgin Money store, or use secure messaging in the app.
Settle any balance
Clear any overdraft and ensure all transactions have settled before closure.
Tips & Things to Know
- Virgin Money Stores (formerly lounges) offer face-to-face support for account closure.
- If you have a credit card or mortgage with Virgin Money, these are separate products.
- Check for any linked savings accounts that may also need closing.
Your Consumer Rights
- The Payment Accounts Regulations 2015 guarantee your right to switch or close your account.
- Virgin Money must not make closure harder than opening under the Digital Markets, Competition and Consumers Act 2024.
Frequently Asked Questions
Can I close my Virgin Money account online?
You can initiate closure via secure messaging in the app, but full online self-service is limited.
How long does closure take?
CASS switching takes 7 working days. Direct closure may take slightly longer.
Is there a fee to close my account?
No. Account closure is free.
Will closing my account affect my credit card?
No. Credit cards and mortgages are separate from your current account.
Can I visit a store to close my account?
Yes. Virgin Money Stores can help with account closure in person.