A warm welcome to Virgin Money customers
Last Updated: 4 November 2025, 06:00pm
We’re looking forward to welcoming Virgin Money investments and pensions customers to Octopus Money Direct (part of Octopus Money) on 1 December. In the meantime we’re working hard to make sure the change is as smooth as possible for you.
If you’re a Virgin Money customer, there’s nothing you need to do.
Virgin Money will write to all Stocks and Shares ISA, Investment Account and Pension customers in November, with all the details you need.
Most things will stay the same
There will be no changes to your account number, the way your account works, your charges, your sign-in details, your investments and how your money is protected.
Nothing changes until 1 December, so you can continue to use your account as normal until then. Everything you need to know is at virginmoney.com/investments/newhome.
Need to know
From 1 December you’ll see Octopus names and branding and use the Octopus Money Direct website and app.
We’ve updated our Terms and Privacy Policy to reflect changes to the company name and registered address.
Effective from 1 December
Stay safe
Please stay safe as scammers use changes like this to try to trick you. If you get a suspicious call, email or text message, stop and contact the team at Virgin Money. Their contact details aren’t changing. And remember, never share your security details with anyone.
Got a question?
Here are a few answers to questions that we’ve already been asked, we hope these are helpful. You can read more questions and answers at virginmoney.com/investments/newhome.
Who is Octopus Money?
Octopus Money is on a mission to make investing and money advice accessible to all – because we believe everyone deserves to feel confident about their future.
We’re part of the Octopus Group – a UK business that’s been helping people invest for over 25 years and manages £9.6 billion* on behalf of investors. You may also know Octopus Group as the business that helped launch Octopus Energy.
We’re rated Excellent on Trustpilot and are the only direct-to-customer investment platform in the UK that’s also a certified B Corp – meaning we’re committed to doing the right thing for people, the planet, and the communities they serve.
How is Octopus Money Direct different to Octopus Money?
Octopus Money Direct is a new company and is part of the Octopus Group, which includes Octopus Money. Octopus Money Direct will continue to offer the same investments and pension products and services that Virgin Money does today – for customers who are happy to make their own financial decisions.
Octopus Money offers a broader range of financial services for customers who want a bit of extra help with their money. Their services include expert 1-to-1 financial planning, wealth management and mortgage advice.
Will my money be FSCS protected?
Yes. Your money will be managed and protected by the FSCS (Financial Services Compensation Scheme) in the same way, up to £85,000.
Will you make any big changes?
Our first priority is making sure the change in ownership is smooth and simple – with no disruption to your service or your investments.
In the future, we’d love to make things even better. But we won’t rush anything. First, we want to hear what matters most to you. If you have ideas or feedback already, we’d love to hear them. Just use this form to share your thoughts.
What if I don’t want to stay with Octopus Money?
We really hope you’ll choose to stay with Octopus Money Direct, but you can always transfer your account to another provider at any time.
For a Stocks and Shares ISA or Investment Account you could also withdraw your money to close your account. However, you should consider the tax implications. You may be subject to Capital Gains Tax on withdrawals from your Investment Account. You’ll also lose the tax-efficient status of money withdrawn from your ISA unless you transfer it directly into another ISA.
Will I be able to get financial advice from Octopus Money?
Yes. Visit the Octopus Money Direct website from 1 December for more info (additional charges may apply).
In the meantime, you can always book a free session here.
I'm in the middle of transferring an ISA or pension. What happens now?
Your transfer will continue as planned. There’s no need to do anything, unless you’ve changed your mind about transferring.
Will my fees change after I join Octopus Money?
No, there won’t be any changes to your fees as part of this move.
At Octopus Money, we’re always looking for ways to lower the cost of investing and pass on savings to customers. While we can’t promise anything today, one of our goals is to keep delivering even better value over time.
About Octopus Money
Octopus Money has a mission to make investing and money advice accessible to all – because we believe everyone deserves to feel confident about their future.
We combine expert 1-to-1 support and smart technology to help more people plan, save and invest for the life they want.
We’ve helped 10,000s of savers to build a proper plan for their finances – and our coaches and advisers are always on hand to help whenever the time is right for you.
We’re a certified B Corp and proud to be privately owned by our founders and employees.
* Octopus as at March 2025. Funds Under Management data includes undrawn commitments, funds under advisory mandates and funds monitored, and is based upon the latest information available at the time of the calculation. The figure includes Octopus Investments, Octopus AIF Management and Octopus Investments Australia.