Virgin Money large transfers and transfer limits in 2025

Need to send a large payment? Whether you’re buying your dream home, a new car or paying for a gorgeous kitchen extension, you’ll need a secure, convenient way to make the transfer. And of course, without paying huge fees.

In this guide, we’ll be looking at how to transfer large amounts of money with Virgin Money in the UK. This includes fees, limits, transfer times, security and more.

If you’re looking for a reliable and cost-effective way to transfer large sums internationally, consider the money services provider Wise. Over 14.8 million people worldwide use Wise to send, spend and convert money in 40+ currencies.

With low, transparent fees, great mid-market exchange rates, and secure, trackable transfers, Wise makes international money transfers simple and stress-free. Plus, you’ll get dedicated support and volume discounts when sending large amounts.

Get expert support for your large transfer 📞

Please see the terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

Can you send large transfers with Virgin Money?

Yes, Virgin Money lets you transfer large amounts using both personal and business current accounts.

There are a few different options available, starting with Faster Payments. This lets you send up to £30,000 per day online (using a mobile app or security token authorisation). This limit drops to £1,000 if you’re verifying the payment with a one-time passcode, and to £5,000 if you’re using telephone banking.¹

Faster Payments is what most UK banks use to send payments between UK accounts, and it does what it says on the tin - with most payments arriving instantly.

If you need to send a larger payment than this, you can use CHAPS. This stands for Clearing House Automated Payment System, and it’s specially designed for making fast, secure large transfers.

It doesn’t usually have any minimum or maximum limits on how much you can send.

UK banks and building societies usually have a fee for CHAPS payments, and with Virgin Money you’ll pay £25 per payment.¹

You can also send international payments with Virgin Money, with no upper limit - but these may also involve some money transfer fees.

Virgin Money transfer limits

Let's take a look at each of the transfer methods available with Virgin Money and the sending limit for each:¹

Transfer method	Virgin Money daily transfer limit
Faster Payments	- 30,000 online - with app/security token verification - £1,000 online - with SMS code verification - £5,000 via phone banking
CHAPS payment	No minimum or maximum limit
International payments	No maximum limit

It’s also possible to use a bank draft to send large transfers of up to £100,000 with Virgin Money, but you’ll need to visit a branch and speak to a member of staff. Again, a fee will apply.

It’s unlikely that you’ll be able to increase the transfer limits listed above. But if you plan to use Faster Payments, making sure you’re set up to verify the payment with the Virgin Money mobile app or a security token will ensure you can send the maximum of £30,000 per day.

📚 Read more: The best UK banks for sending money abroad

What’s the maximum amount you can send with Virgin Money?

The maximum you can send with Virgin Money per day is £30,000, unless you visit a branch to send a bank draft of up to £100,000 (a fee applies).¹

If you need to send more than this, you can use CHAPS for an extra fee.

It’s also worth noting that there’s no maximum limit on international payments with Virgin Money.

Can you send multiple large transfers per day?

You can send multiple large payments per day with Virgin Money, but you won’t be able to exceed your daily sending limit.

How to transfer large amounts with Virgin Money: Step-by-step guide

If you already have an account with Virgin Money, it’s pretty straightforward to set up your first transfer - even if it is a large sum you’re sending.

To send a large payment with Virgin Money using Faster Payments, the easiest option is to use online or mobile banking.

Here are the recipient details and other info you’ll need to have ready:

• The recipient’s name as it appears on their bank account
• Their bank account number and sort code
• The type of account (personal or business)

You’ll need additional details if you’re sending money abroad:

• The name, account number and address of the person or company you’re paying
• The recipient’s International Bank Account Number (IBAN)
• The SWIFT/BIC code for their bank

To set up your transfer, follow these steps:

1. Login to online or mobile banking
2. Select ‘Payments’ and then ‘Make a payment’
3. Select the account you’d like to transfer money from
4. Search your payees list, or select ‘Pay someone new’ and enter their details.
5. Enter the amount you want to send, the reason for the payment, the date you’d like to send it and a reference (optional)
6. Check the details and confirm the payment.
7. Complete the security verification steps - this is likely to be required when adding a new payee, or sending a large amount. It may involve confirming the payment in the Virgin Money app, or inputting an SMS code sent to your phone.

To send money abroad, you’ll need to download, complete and then upload either a SEPA form (for payments in EUR to the EEA) or a SWIFT form (for all other international payments). You can also do this in branch.

A similar process is involved with CHAPS payments, where you’ll need to download, complete and upload a CHAPS form online - or submit it in branch.

➡️ Learn more about the Wise account

Is Virgin Money safe for large transfers?

Virgin Money is a fully licensed UK bank and is strictly regulated.

In order to be compliant, Virgin Money and other licensed UK banks are required to use sophisticated security measures to protect customers’ data, money, accounts and transfers.

This includes protections such as:

• 24/7 anti-fraud protection and monitoring
• Strong Customer Authentication to safeguard your account (i.e. texting you a passcode when you login to online banking)
• Data encryption
• Biometric authentication to login to the Virgin Money app
• Timed logout when using digital banking.

Even with these safety measures in place, you should still take common-sense precautions when sending large sums online.

This includes double-checking the details, avoiding sending money to people you know and being alert to possible scams (especially if you’re being pressured to make the payment).

How long do large transfers take with Virgin Money?

Here’s an overview of average transfer times with Virgin Money:¹

Sending method	Cut-off time	Transfer arrives
Faster payments	None	Instantly
CHAPS payments	- Before 4pm on a working day - After 4pm and weekends/bank holidays	- Same day - Next working day
International payments - SEPA	- Before 10.30am on a working day - After 10.30am	- Same day - Next working day
International payments - SWIFT	- Before 10.30am on a working day - After 10.30am	- Same day - Next working day

📚 Read more: How long do international bank transfers from the UK take?

Virgin Money large amount transfer fees and costs

Now we come to the all-important question of how much Virgin Money large transfers cost. Here are the main fees and charges you need to know about:¹

Payment type	Transfer fee
Faster Payments	Free
CHAPS	£25 per payment
International payment	- £20 for SEPA payments - £25 for SWIFT payments
Bank draft	£30

When sending an international transfer with Virgin Money, you’ll also need to check the exchange rate - as well as the upfront fee.

Virgin Money uses its own exchange rate for converting currency, and this may include a currency conversion cost which varies depending on how much you send.

The more you send, the smaller the margin will be. It ranges from 2.50% for transfers up to £25,000 to 0.65% for transfers of £500,000 to £1 million.¹

These costs vary, but you can check the rate and the extra fee before you send, or by contacting the bank.

Wise – A low-cost alternative to bank transfers

Looking for a secure, convenient and low-cost way to send large sums of money internationally? Take a look at the Wise account from the money services provider Wise. It's not a bank account but offers some similar features and your money is safeguarded.

With Wise, you can send large amount transfers worldwide to 140+ countries in 40+ currencies for low, transparent fees and mid-market exchange rates with no markup.

Here’s an overview of the main benefits of using Wise:

Fast and easy setup with no physical paperwork Low, transparent fees and no-markup mid-market exchange rates 24/7 Dedicated support and volume discounts for large transfers No monthly/annual account fees Sophisticated security and anti-fraud measures, with your money safeguarded Trackable and fast transfers to 140+ countries Low-cost spending in 150+ countries with the Wise card Earn a variable return on your GBP, USD and EUR with Wise Interest (capital at risk, growth not guaranteed)**

✅ Sign up with Wise for free

**Investments in funds are never guaranteed and your capital can be at risk. In the UK, Interest and Stocks are provided by Wise Assets — this is the trading name of Wise Assets UK Ltd, a subsidiary of Wise. Wise Assets UK Ltd is authorised as an investment firm and regulated by the Financial Conduct Authority (FCA). Our FCA number is 839689. We do not give investment advice, and you may be subject to pay tax. If you're not sure, seek qualified advice. You can find more information about the funds on our website.

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Sources used:

1. Virgin Money - Making Payments

Sources last checked on date: 31-Oct-2025