• expired

Open a Virgin Money Go Account and Make a Settled Transaction, Get Bonus 5000 Virgin Money Points (Approx. $22.50 Value)


Another day, another online only bank account popping up - this time brought to you by Bank of Queensland.

Get a bonus 5,000 Virgin Money Points with a settled transaction (card, direct debit, or BPay) on a Virgin Money Go transaction account by June 30.

Having a quick look at the possible redemptions around 5,000 points, you could redeem

Item Value
$30 iTunes gift card 5400 points
$20 Amazon gift card 3700 points
$30 Amazon gift card 5486 points
$20 Coles gift card 3700 points
$22.50 "One time cash redemption" 5000 points

Account details

No monthly account fees, 8 rewards points for every purchase if monthly criteria is met. Linked savings account gets 1.20%, again monthly criteria required. Instant provisioning for mobile payments from app.

Monthly criteria
Age Criteria
> 25 years "Deposit $2,000 or more from an external account into your Virgin Money Go Account and make at least 5 purchases, direct debits or BPAY payments which settle in that month (not pending). Let’s go!"
18-24 years "Deposit $1,000 or more from an external account into your Virgin Money Go Account and make at least 5 purchases, direct debits or BPAY payments which settle in that month (not pending). Ready? Go."
14-17 years "There are no criteria required to unlock the benefits. You’re already good to go."

App is ok, sometimes a bit slow and not intuitive. up has better app.

Referral Links

Referral: random (316)

Referees will receive 5,000 Virgin Money Points when they open their first Virgin Money Go Account before 31 July 2024 and meet the Welcome Offer Bonus Points Criteria (1 debit card purchase/direct debits/BPAY transaction in the first 30 days).

Referrer will receive 5,000 Virgin Money Points for each referee who meets the Welcome Offer Bonus Points Criteria, for up to 5 referees in a month.

Related Stores

Virgin Money
Virgin Money

closed Comments

  • Thank you for posting this!

    I saw the product available last week but had no way of seeing the value of the Virgin Money Points. I guess they're…not that valuable. 1.2% interest is about as good as it gets these days, though.

  • So what if you’re >25 and don’t meet the commitment?

  • App UI looks very nice , I signed up for an account to give it a go , thanks OP.

  • 8 points per 1c transaction to telstra??

    • Technically, yes. But don't forget that they could consider this as fraudulent activity.

      • +2

        RIP bank west…

      • They reserve the right not to award points if
        "…the use of your Eligible Products is deliberately designed for the sole or predominant purpose of earning Points rather than making genuine purchases (‘gaming’).
        See section 5.27 of the terms and conditions (link below)

    • Good time but don't think Telstra does 1c transactions anymore.

  • +3

    Android users, please note: Due to a phased release of the app into Google Play, you may not be able to download the new app up until 31 March 2021.

  • +2

    Referral system is now setup (thanks mod!) — Both referrer and referee get 5000 bonus points when the person who signs up makes a first purchase / direct debit / BPay payment within the first 30 days.

    • Is this on top of these?

      Where do we put the code in?

    • -1

      damn already signed up earlier

      • I don't think it matters for you. You are still eligible for the bonus 5000 points if you follow the rules.

        If you use the referral system, you help out a fellow OzBargainer in the process.

  • +1

    I've signed up but don't have a username to sign into the app

    • +1

      Having the same issue. No username. Also no temp password and I was never prompted to set a password.

      • +1

        Hi there, sorry to hear you’ve been having trouble accessing the new Virgin Money app. Everything should be working now and you’ll be able to sign up with a new username. If you’re still experiencing this issue, please email [email protected] and a team member will assist you.

        • I'm having the same issue. I even received my card today and can't use that to sign in.

        • +1

          Logged in now, thank you.

  • +1

    Got an error during ID check saying the country is missing LOL

    • Hi there, sorry to hear you’ve been having trouble accessing the new Virgin Money app. Everything should be working now but if you’re still experiencing this issue, please email [email protected] and a team member will assist you.

  • +1

    Looks like you need to add the random referral code to the end of the following URL for it to work:

    • Thanks for the URL. Op: can you please update? Thanks.

      • does referral stack with the op's deal?

    • Thanks, the instructions should be added to the referral link instructions. BTW I could not get the url to work but signing up by the app and entering the promocode at the last step worked for me.

      For applications not via the app, I think the correct url is below, add the referrer code after the =

      • For applications not via the app, I think the correct url is below, add the referrer code after the =

        Even if you use the above URL, there is no way to sign up via the website.

  • Is there a min spend?

  • anyone having trouble sending money out of the GO account? I can't even send $1 out either via Pay ID or normal BSB.

    • +1

      Just tried an outbound transfer using PayID. No issues.

    • Have you transferred your money out successfully?

  • +1

    had trouble signing up via android got errors maybe it was because i used to have an old online saver that was closed. called up and got sms a temp access code and setup and created the go account added a referral code in app during sign up.

  • New Virgin Money Go Account customers will receive 5,000 bonus Virgin Money Points when they make at least one purchase that is settled (not pending) with their Virgin Money Go Account or make a direct debit or BPAY payment in the first 30 days from account opening. For customers who open a Virgin Money Go Account jointly with another person, the points will be split and evenly allocated to both joint account holders of that account once the Monthly Criteria have been met. Virgin Money reserves the right to amend or withdraw this offer at anytime without notice. For further information on the Virgin Money Rewards Program refer to our terms and conditions. Offer ends 30 June 2021.

    SOURCE: https://virginmoney.com.au/bank-and-save/accounts/go-account (Footnote 5)

    I currently have two transactions via in-store purchases that have settled (i.e. not pending) since opening my account last week.

    Does anyone know anything else I would need to do in order to qualify for the 5K reward points?

    • I made a Bpay payment over the weekend and the 5000 points was added to my account this morning.

      • Just checked now. 5000 points have been added, as well as bonus 16 points for the two qualifying transactions.

        Maybe the points are added manually to prevent people gaming the system, which would explain the delays in my case.

        • Yeah that definitely makes sense

  • where can you see what the point redemption amounts are? how can you make use of all 5k pts?

    • the easiest way is to just redeem it all for cash, but gift cards seem to be better value

      • thanks

  • On the iPhone app, the 4th icon at the bottom is the rewards icon. From there you can click "Redeem". It looks like the gift card options give the best redemption rates. But, if you are just looking to redeem the full 5k points quickly, you can choose the "Redeem points for cash" option and get $22.50.

    • thank you

  • +1

    my visa card hasnt arrived its been over 1 week. but got 5008 points for bpaying $1 into ubank. now i need to find which gift card its best to redeem them into or is into cash give a better return ?

  • Is anyone else having issues referring people? Everyone seems to get an "Oops we had an error" type message on the last page of the sign up process

  • Just signed up buy they never asked my Velocity member number, wondering how they credit the points?

    • +1

      It's a bonus 5000 Virgin Money Points, not Velocity points. Different rewards point systems but both under Virgin.

      Hopefully that helps.

      • I understand now, thanks.

  • +1

    Be careful not to overdraw the account ($10 a pop) or make any foreign currency transactions (2.5% currency conversion fee).
    Also, if you dispute a transaction and are unsuccessful, they will charge you $15.

    Finally, this account is definitely not appropriate for making cash or cheque deposits.
    BoQ (their parent entity) doesn't participate in the Bank@Post scheme and any deposit at a BoQ branch is gonna cost you $5 a pop.


    • +1

      Be careful not to overdraw the account ($10 a pop)

      The Go Account is a debit account. If there are insufficient funds, shouldn't the transaction be return as unsuccessful rather than overdraw the account?

      • You'd think so but many transaction accounts will let you overdraw up to a certain limit and charge you a fee and debit interest for the privilege

        • You are right. Under payment limits, there is no setting to switch of this insidious behaviour. The only thing you can do is lock the card that is attached to the Go account.

  • stay away from this bank, never have that much IT issues with this bank in my life, can't add in TFN, couldn't use mobile app to send any messages to chat with customer services, BAY pay won't process on time because of the IT issues, even don't know how long to fix it. you totally waste of your time with this bank.

  • We're sorry, we can't offer you an account right now. Unfortunately we can't proceed at the moment. You'll hear from us soon with next steps???

  • '8 rewards points for every purchase'
    I just realize, this is per purchase.
    That means, the spent amount is irrelevant…
    (I thought it was amount * 8 points)

  • Has anyone else had this? What would be the threshold to not trigger them?

    We have noticed some unusual activity on your Virgin Money Rewards account. This includes multiple transactions for small denominations, potentially for the purpose of earning additional points. In accordance with the Virgin Money Rewards Terms and Conditions, points are only allocated to a customer’s account if the transaction is considered by us to be a genuine transaction. Whilst no immediate action has been taken, we will continue to closely monitor for further unusual activity.

    • Have you tried calling them and asking?

      • No, I don't like phone calls, and why draw attention to it. If they restrict me, then that's when I'll call and complain and justify my transactions.

    • Then I better be careful as I have been doing $1 Bpay in the past.

  • +1

    Does anyone here know how long before your reward points expire if you don't use your Virgin Money account for a while?

    • +2

      From their page

      Do my Virgin Money Points expire?

      There’s no 'use-by' date on these points as long as you have an active eligible product with us and have earned or redeemed a point within the last 2 years. That said, if you close all your accounts, you’ll have 3 months to redeem any outstanding points.

  • expires july 31 now

  • Now ending on 31 October 2021.

  • have joined

  • Are the monthly criteria of at least 5 purchases work with the coles/wws 1c split payment or the 1c split payment will not get the virgin point but meet the monthly criteria? Also, the point will only be provided after the monthly criteria meet or like the other bank when meeting the condition the point and bonus rate will automatically to next month when we meet the criteria this month?

    • +1

      Criteria is for next month, in a qualifying month points are credited as you go with up do a few days delay after each transaction.

    • +1

      1c split payment or the 1c split payment

      They flag your account if they notice too many similar low value transactions. Someone else mentioned this earlier in this thread.

  • Where do you get your referral code from?

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