ComparisonLast checked 8 November 2026

Incard vs Virgin Money: which suits your business?

Incard is an e-money account that pays uncapped cashback on eligible card spend on a £0 plan, with team cards and GBP, EUR and USD IBANs. A business current account for businesses in Great Britain with turnover under £6.5 million, with 0.35% debit card cashback and 25 months' free day-to-day banking for eligible start-ups and switchers.

By the editorial team. How we make money.

Incard suits you if

You spend thousands a month on cards, especially on advertising, software or travel
You want a £0 plan, which Virgin Money doesn't list
You want a euro account, which Virgin Money doesn't list
You want a US dollar account, which Virgin Money doesn't list
You're comfortable with safeguarding instead of FSCS cover

Virgin Money suits you if

You want cashback on debit card spending
You're a start-up or switcher who can use 25 months of free day-to-day banking
Your business is in Great Britain with turnover under £6.5 million
You pay in cash at a branch or the Post Office

Why we pick Incard over Virgin Money for card spend

Card cashback: Incard: Free: 1% on ads, software and travel, 0.5% on other eligible spend. Higher on Grow and Plus. Uncapped. Virgin Money: 0.35% on the debit card, up to £500 a year per card.
Currencies you can hold: Incard: GBP, EUR and USD, with IBANs. Virgin Money: GBP; a Currency Current Account is listed in the International tariff.
Card payments in other currencies: Incard: 1.8% on Free, 1.5% on Grow and Plus. Virgin Money: 2.75% (minimum £1.50) except GBP, EUR, SEK and RON in the UK and EEA.

cashback a year on Incard's £0 Free plan from £5,000 a month of eligible ads, software and travel spend. Simple arithmetic, not a forecast.

£600

Apply for Incard on incard.co

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At a glance

**Table notes:** correct as of 8 November 2026, from each provider's own pages listed under Sources. “Not listed” means the provider's pages we checked don't say.
	Incard	Virgin Money
Type and protection	E-money · safeguarded, no FSCS	Bank · FSCS cover
Who can open one	UK sole traders, UK limited companies, LLPs, Swiss GmbHs and AGs and Swiss sole traders	UK sole traders, UK limited companies and LLPs
Cheapest plan	Free: £0 a month	25 months' free day-to-day banking for eligible start-ups and switchers, then £6.50 a month
Plans (monthly)	Free £0, Grow £49, Plus from £199	Business Current Account: £6.50 a month after 25 months free
Card cashback	Free: 1% on ads, software and travel, 0.5% on other eligible spend. Higher on Grow and Plus. Uncapped	0.35% on the debit card, up to £500 a year per card
Card payments in other currencies	1.8% on Free, 1.5% on Grow and Plus	2.75% (minimum £1.50) except GBP, EUR, SEK and RON in the UK and EEA
Domestic transfers	100 included on Free, 250 on Grow, then £0.30 each	£0.30 per Faster Payment on the standard tariff; free during the offer
International transfers	3 included on Grow; otherwise from £5 (SHA) or £20 (OUR)	SWIFT £17.50 online, SEPA free; receiving SWIFT over £100 costs £7 for most currencies
ATM withdrawals	2% in the UK, 2.5% abroad	No fee in GBP, EUR, SEK or RON in the UK and EEA; otherwise 3.75% (minimum £1.50)
Cash deposits	Not listed	£0.65 per £100, plus £0.70 per branch or Post Office credit
Currencies you can hold	GBP, EUR and USD, with IBANs	GBP; a Currency Current Account is listed in the International tariff
Accepting card payments	Not listed	Merchant acquiring offered; pricing not in the tariff guide

Where they differ

Based on what each provider lists on its own pages. If a feature isn't listed, check with the provider before you rule it out.

Only Incard lists a euro account, a US dollar account, cards for your team, accounts for Swiss GmbHs and AGs and accounts for Swiss sole traders.
Only Virgin Money lists cash deposits and card payments from customers.

What each one is, and who can open one

Incard

Incard Ltd is authorised by the FCA as an electronic money institution (firm reference number 1027309). It is not a bank. Safeguarded: Incard keeps customer funds separate from its own money, in accounts with authorised credit institutions, and doesn't lend or invest them. Funds are not protected by the FSCS.

Who can open one: UK limited companies and LLPs, UK sole traders and freelancers registered with their local authority, and Swiss GmbH, AG and sole-trader businesses. EEA onboarding is paused until an expected restart in 2027. Public sector bodies, cooperatives, charities, foundations and trusts aren't accepted, and a long list of industries is restricted. Full Incard profile.

Virgin Money

Nationwide Building Society, trading as Virgin Money, authorised by the PRA and regulated by the FCA and PRA (registration number 106078). Eligible deposits are protected up to £120,000 by the FSCS. Deposits with Virgin Money and Nationwide are added together for that limit.

Who can open one: Sole traders, partnerships, limited companies and LLPs with annual turnover under £6.5 million, based and operating in the UK but not the Channel Islands, Isle of Man or Northern Ireland, with an owner, director, senior manager or signatory aged 18 or over. Clubs, charities and societies use other accounts, and businesses with bearer shares, a disqualified director or a bankrupt applicant can't apply. Full Virgin Money profile.

Our e-money vs bank account guide explains what safeguarding and FSCS cover mean if a provider fails.

When Incard isn't the answer

Incard isn't the right account if

Your business is registered outside the UK and Switzerland. EEA onboarding is paused until an expected restart in 2027
You're a charity, cooperative, foundation, trust or public body, or work in one of Incard's restricted industries

Our pick for card spend

Open an Incard account

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E-money · safeguarded, no FSCS

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