Part of our Virgin Money — Complete Guide 2026 hub.
Virgin Money’s standard Faster Payments limit is up to £30,000 per day when you authorise payments on a registered mobile device — notably lower than NatWest, Lloyds, and Santander, which all allow up to £100,000. For transfers above your limit, or where same-day guaranteed arrival is required, CHAPS is the right option.
Virgin Money Transfer Limits at a Glance
| Payment Type | Limit | Speed | Fee |
|---|---|---|---|
| Faster Payments (app/online, registered device) | Up to £30,000/day | Seconds to 2 hours | Free |
| Faster Payments (one-time passcode verification) | Around £1,000/day | Seconds to 2 hours | Free |
| Faster Payments (telephone banking) | Around £5,000/day | Seconds to 2 hours | Free |
| CHAPS | No upper limit | Same business day (before cut-off) | Fee applies |
| Standing order | Up to your Faster Payments limit | Per schedule | Free |
| Branch transfer | Varies — speak to branch | Same or next day | May vary |
Your exact limit depends on your verification method and account — always confirm the figure that applies to you in the Virgin Money app before relying on it for a large payment.
Virgin Money Faster Payments: How the Limit Compares
At up to £30,000/day (with a registered device), Virgin Money’s Faster Payments limit is still at the lower end among UK high-street banks. This is worth knowing before any large transfer:
| Bank | Faster Payments Limit |
|---|---|
| Lloyds | Up to £100,000 |
| NatWest | Up to £100,000 |
| Santander | Up to £100,000 |
| Barclays | Up to £50,000 |
| Virgin Money | Up to £30,000 |
| HSBC | Up to £25,000 |
Figures for banks other than Virgin Money were not re-verified in this review — confirm directly with each provider, as limits change.
If you regularly need to send amounts above your Virgin Money limit, you’ll need to use CHAPS (which carries a fee) rather than the free Faster Payments route. For one-off large transfers — such as a house deposit — this is a manageable inconvenience. For frequent large transfers, it may be worth comparing banks.
Your Personal Limit May Be Lower
Virgin Money applies different limits depending on how you authorise the payment — a registered mobile device gives the highest limit, while a one-time passcode or telephone banking gives a lower limit. Check your current limit in the Virgin Money app or call 0800 678 3654 (freephone).
CHAPS: When to Use It With Virgin Money
CHAPS is appropriate when:
- The amount exceeds your Faster Payments limit
- You’re completing a property purchase — solicitors require CHAPS for completion funds on the day
- Same-business-day guaranteed arrival is essential — CHAPS settles the same day if submitted before the cut-off
Key CHAPS details:
- No upper limit on the transfer amount
- Must be submitted before Virgin Money’s CHAPS cut-off time (check with Virgin Money before sending — typically early-to-mid afternoon)
- A fee applies — verify the current fee at virginmoney.co.uk
- CHAPS payments are very difficult to reverse once sent — double-check all payee details before confirming
How to Send a Transfer With Virgin Money
Via the Virgin Money app:
- Sign in to the app
- Tap Pay and transfer
- Select or add a payee
- Enter the amount and a payment reference
- Confirm with your biometrics or app PIN
Via Virgin Money online banking:
- Log in at virginmoney.co.uk
- Navigate to Payments
- Enter the payee details and amount
- Authorise — Virgin Money may send a one-time passcode to your registered phone
For CHAPS or amounts above your Faster Payments limit:
- Call 0800 678 3654 (freephone) or visit a Virgin Money branch
- Have the recipient’s full name, sort code, and account number ready
- For property completions, your solicitor will provide a completion statement with all payment details
Confirmation of Payee
Virgin Money uses Confirmation of Payee, a system that checks whether the account name you’ve entered matches the sort code and account number before the payment proceeds. If there’s a mismatch, you’ll receive a warning.
Always verify payee details directly with the recipient — not via a link in an email or text message — before sending money. Fraudsters frequently use fake invoices and fake “change of bank details” notices.
Protecting Yourself from Transfer Fraud
Authorised push payment (APP) fraud — where criminals trick people into willingly making a transfer — is the most common form of bank fraud in the UK. Protections Virgin Money has in place include:
- Confirmation of Payee — name verification before every new payment
- Fraud warnings — displayed when sending large or unusual amounts
- New payee delays — a short pause before first payments to give you time to reconsider
Under PSR rules effective from 7 October 2024, most UK payment providers, including Virgin Money, must reimburse eligible APP fraud victims up to £85,000 per claim, usually within 5 business days of the claim being made. Exceptions apply if you were grossly negligent or ignored clear fraud warnings. If you think you’ve been scammed, call 0800 678 3654 immediately — the sooner you report, the better the chance of funds being recovered.