Virgin Money M Account for Business: fees, cashback and catches
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.
FSCS protects eligible deposits up to £120,000 per person, per authorised institution.
Quick answer
M Account for Business has a £0 monthly account fee, free day-to-day app and online banking and 0.25% uncapped cashback on debit card spending, as of 4 October 2026. It’s for sole traders, start-ups and small businesses with turnover under £1 million.
Virgin Money also offers a Business Current Account and Business Choice Account for larger or more complex businesses.
Who it’s for
- Sole traders and small companies with turnover under £1 million
- Businesses that spend a lot on the debit card and would use the cashback
- Users of Xero, Sage or Shopify
Who should skip it
These are general points to weigh up, not advice. You may want to look elsewhere if:
- Your turnover is £1 million or more
- You need interest on the current account — M Account for Business doesn’t pay base-rate-linked interest
M Account for Business
| Item | Detail |
|---|---|
| Monthly account fee | £0 |
| Cashback | 0.25% on debit card spending, no cap (terms apply) |
| Who for | Start-ups and switchers with turnover under £1m |
| Software | Works with Xero, Sage and Shopify; Xero free for six months (offer, terms apply) |
Figures as of 4 October 2026, taken from the provider’s own website. Rates and fees can change.
The catch
“Free day-to-day banking” covers app and online banking. Check the business tariff for other services such as cash and cheques before you apply.
Check Virgin Money’s business account terms.
These go straight to each provider’s own website. They aren’t referral links and we don’t earn from them.
FAQs
Is the Virgin Money business account free?
M Account for Business has no monthly account fee and free day-to-day app and online banking, as of 4 October 2026. Other charges may apply.
How much cashback does it pay?
0.25% on debit card spending, with no cap (terms apply).
What turnover limit applies?
It’s for businesses with annual turnover under £1 million.
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