Richard Branson Announces Plans For Virgin Banking System

May 18, 2009

UK (ChattahBox) – Virgin founder Richard Branson has released plans to create an online bank to take advantage of the current distrust of financial institutions.

Branson says that he will launch Virgin Money, and online banking system that will allow users to handle all transactions online, rather then through any official banks or credit union.

The project will be handled under Jayne-Anne Gadhia, and Branson hopes that he will be able to expand the idea by purchasing a portion of Northern Rock, which is rumored to be planning on selling a portion of it’s bank to the private sector for the first time since it was nationalized last year.

How this is set to be done is still a mystery, as Branson is being tight-lipped on the finer details. But if it is anything like my experience with Virgin Mobile, I think we can expect exaggerated fees, frequent service drops, and a ridiculous number of sales messages that we will be expected to pay for.

With all of the trusted service Virgin provides in it’s other ventures, who wouldn’t trust Branson with their live savings?


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One Response to “Richard Branson Announces Plans For Virgin Banking System”

  1. Richard Branson Announces Plans For Virgin Banking System … on May 18th, 2009 3:58 pm

    […] res­t is­ h­ere:  Ric­hard­ Brans­o­n Anno­unc­es­ P­lans­ Fo­r Virg… Share and […]

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