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Are savings safe with Virgin Money if I owe money to Virgin Media

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Looter
Looter Posts: 131 Forumite
in Savings & investments
Hoping to get some clarification on this. I know that if you have savings with the same institution you have debts to they are entitled to take the savings to pay off the debts. Would the same apply if I had money saved with Virgin Money yet had a debt owed to Virgin Media?

I had a bill dispute with Virgin Media a few years ago which never got resolved so I'm worried saving with Virgin Money will bite me in the bum!

Comments

  • Masomnia
    Masomnia Posts: 19,506 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I can't see how. Virgin Media is own by some American company or other now, they're separate businesses. It's pretty much just the brand they share.

    Don't worry!
    “I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse
  • Your_Hero
    Your_Hero Posts: 883 Forumite
    They are separate companies. It's almost as if you hold your money with another bank and ignore the 'Virgin' brand. They have to go through the usual way of pursuing you for the money, i.e. through the courts, they cannot just take money from your account.
    Stephen Covey once said that "when you teach once, you learn twice". That is the primary reason for my participation on the forums as an IFA.

    Although I strive to provide accurate information in my posts, there may be the odd time when I fail. Yes I know it's hard to believe but even Your Hero can make mistakes. Apologies in advance.
  • Freecall
    Freecall Posts: 1,337 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    The incredible power of branding.
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