LoanCaddie Opinion

Virgin is a customer service front for its funder BOQ (used to be Wetpac and Macquarie). Virgin has score better customer service and satisfaction than the major banks.

Facts and lender background

History

Virgin Money Australia is a retail financial services company that aims to provide a wide range of great value financial products that are easy to understand and sort out as well as be a compelling alternative to the big banks. BOQ acquired Virgin Money Australia in 2013 and it operates as a standalone business within the BOQ Group.

Size

Credit Rating

BOQ is rated BBB+ by S&P. The Australian Government's guarantee on deposits under the Financial Claims Scheme applies to deposits held with BOQ.

Ownership

Virgin Money is owned by the Bank of Queensland. Bank of Queensland is publicly listed on the ASX.

Funding

BOQ is 70% funded by customer deposits. The remained is funded by the wholesale capital market.

Customer service

Product Review Rating

average is 2.1 / 5

Branch network

You are able to transact at more than 3,200 Australia Post outlets that display the Bank@Post sign. This provides you with real-time deposits and the ability to draw cash.

Internet banking

Internet banking is available.

ATM/EFTPOS