Virgin International Money Transfer Review

This is a non-standard review, because Virgin Money Transfer doesn’t actually offer international money transfer services but is in fact a white label for World First

About Virgin, Virgin Money’s parent company

If you’ve never heard of the Virgin group, consisting of Virgin Media, Virgin Records, Virgin Atlantic and 20+ more brands, you must have been living under a rock since the 1970’s. This UK-headquartered multinational  conglomerate which employees over 70,000 people is considered one of the world’s largest and most diverse companies. It has consistently ranked in the Forbes global #2,000 with a market capitalisation of a whopping $12.5bn.

It was founded by Sir Richard Branson, one of the most colourful businessmen, known for his sharp business sense and foolish antics, who is, ironically enough, a leading investor in startup Transferwise, one of the most prominent competitors of Virgin Money’s International Money Transfers.

Virgin Money: Services, Media and public Opinion

Virgin Money is a part of Virgin Group’s branded portfolio. It is a public company with ticker VM:LON with market cap of £1.2bn. It operates in the United Kingdom, South Africa and Australia (previously also USA). In each market, the financial service provider offers different products, mostly mortgages, savings accounts and credit cards. The brand grew tremendously in the UK after purchasing the Northern Rock Building Society in 2012, and the Church House Trust in 2010. It holds a banking license by the FCA. The firm used to sponsor Newcastle FC in the 2012-2013 season.

Virgin Money has terrible client ratings on client review platform TrustPilot with a ranking of 1.1/10. Clients are complaining about every single aspect of the service and product offering. There are only 685 reviews, so it’s hard to say whether they represent anything considering the bank has millions of customers. Analysts are generally speaking very fond of the company.

Virgin International Money Transfer

Virgin Money also offers International Money Transfer services for its wide 4m people clientele, but this operation is handled exclusively by World First which has been providing them with a white label platform. There is no advantage to use Virgin International Money Transfer services unless you’re an existing client who wants to save a few minutes by signing up directly with World First through Virgin Money instead of signing up directly (which takes as little as 60 seconds to UK citizens, all online, on worldfirst.com).

World First is a top rated money transfer provider in its own right and clients interested in Virgin Money International Money Transfer should consider registering with WorldFirst directly.

Similar White Label Setups

The Post Office money transfer service is operated by HiFX.

 

 

 

 

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