How to open a Virgin Money business account for start-ups, sole traders, limited companies and partnerships

31 July, 2025 · 10 min read

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Having conquered the worlds of holidays, entertainment, gyms and mobile phones, in 1995 the Virgin group launched Virgin Money UK, a service-first bank that offers a range of current and business accounts.

In October 2014, Virgin Money was taken over by Nationwide, but its 91 branches across England and Scotland will remain open until at least 2028, under their new owner’s ‘Branch Promise’.

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Frequently asked questions

Can I open a Virgin Money business account online?

Yes, this is the quickest way to open a Virgin Money business account – just make sure you prepare the documents you need in advance.

How long does a Virgin Money business account take to open?

After submitting your application, 42.97% of customers will have an account number the same day. The average is 2 days, while 99% of customers are up and running within 27 days. Switching from an existing business bank account takes 7 working days.

How do I close my Virgin Money business account?

To close your M Account for Business, you need to ensure you’ve cancelled any regular payments coming out of your account, and have a zero balance (or an arrangement in place to transfer any funds). You can then close your account via the app or through online banking.