The account, previously handled by Manning Gottlieb OMD, is moving without a pitch. The decision follows RBS's buyout of Virgin One last year from the fellow shareholders AMP and Virgin. MediaCom is RBS's agency.
Virgin One, which will be run as a standalone operation by RBS, will continue to use TBWA/London and Tequila/London for its creative and direct marketing respectively. The move into MediaCom was made by RBS for reasons of economy.
Virgin One, which bundles together savings, current accounts and mortgages into one account, was wholly acquired by RBS last July when it bought both AMP's and Virgin's 25 per cent stake in the venture.
Some 54 per cent of Virgin One's media spend is skewed toward press. It also spends on TV, outdoor and radio.
Scott Mowbray, the marketing manager at Virgin One, said: "Manning Gottlieb has done a fantastic job, but we will be using MediaCom because we are now owned by RBS, and MediaCom works for the group. We made the decision for economic reasons and MediaCom is also very good."
Virgin One's marketing team is considering ways to take the brand forward, with discussions focusing on potential new products and identity. It launched in 1998 and now has 82,000 customers with assets of £4.5 billion.