TSB vs Virgin Money: everyday accounts compared
Important: This guide provides general information, not personalised financial advice. Financial products, rates and eligibility rules can change, so check the provider’s current terms before applying. You can check a firm’s details on the FCA Register.
Quick answer
Both have free everyday accounts with branches and apps. TSB Spend & Save pays £5 a month cashback for up to six months if you make 20+ card payments; Virgin Money M Plus pays 1.00% AER on up to £1,000 and has no fees abroad.
For regular saving, TSB’s Monthly Saver (5.00% fixed, up to £250 a month) stands out; Virgin Money’s Double Take accounts pay around 4.15% with two withdrawals a year.
TSB vs Virgin Money compared
| Feature | TSB Spend & Save | Virgin Money M Plus |
|---|---|---|
| Monthly fee | £0 (Plus £3) | £0 |
| Perk | £5 cashback a month for 6 months (20+ card payments) | 1.00% AER up to £1,000 + linked saver 1.75% AER |
| Fees abroad | None on Spend & Save Plus | None from Virgin Money |
| Regular / limited saver | Monthly Saver 5.00% fixed, £25–£250 a month | Double Take E-Saver 4.16% AER, 2 withdrawals a year |
| Overdraft | 39.90% representative APR | Subject to status |
| FSCS | TSB Bank plc | Shared with Nationwide |
Figures as of 4 October 2026, taken from the provider’s own website. Rates and fees can change.
Who each suits
- TSB: frequent card users and regular savers
- Virgin Money: travellers and people who want interest on a small current account balance
Who should skip it
These are general points to weigh up, not advice. You may want to look elsewhere if:
- You want a switch bonus — neither showed one on 4 October 2026
Full explanation
If you’d hit 20 card payments a month, TSB’s cashback is worth up to £30 over six months on Spend & Save. If you travel, Virgin Money’s no-fee card could save more over a year.
The catch
TSB’s free-abroad card is on Spend & Save Plus (£3 a month). Virgin Money’s FSCS limit is shared with Nationwide.
Check each bank’s current terms.
These go straight to each provider’s own website. They aren’t referral links and we don’t earn from them.
FAQs
Which is better for travel, TSB or Virgin Money?
Virgin Money M Plus has no fees abroad for free; TSB’s no-fee option is Spend & Save Plus at £3 a month.
Do TSB or Virgin Money pay switch bonuses?
Neither showed one on 4 October 2026.
Which has the better regular saver?
TSB’s Monthly Saver paid 5.00% fixed on up to £250 a month, as of 4 October 2026.
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