Virgin Savings Interest?

joe2cool

Hi has a present customer of 'Virgin Money on the 2nd May I opened a new ISA & Easy Access savings account. ISA 1.41% AER & the Easy Access being 1.21% AER

Already having accounts the transfers were straight forward. I have transferred cash into both today. I've noticed my new ISA's interest rate as only changed to 1.40% AER not 1.41%?
Also my new 'Easy Access Saver' shows my old saver interest of 0.97% AER instead of 1.21%?

Will this change probably in the next few days, I thought it would be instant especially when cash went into the new accounts ?

Appreciate any help

Thx

dinosaur7

Sorry, I don't know the answer to your question, but have you thought of contacting Virgin direct via the secure messaging system in your account? In my experience, they normally respond quite quickly and give you a clear answer to the question you have asked... unlike some other banks I could mention!

joe2cool

Hi thx for replying...........didn't realise there was a messaging system, thought you had to call? Will check.........

Steve_Foster

Yes I have fallen for that trick. Just had a standard account so opened the internet saver for a better rate. Both are the same so that was a waste of time.

dinosaur7

Hi joe2cool,


I'm so sorry - I've just gone into my Virgin account and I can't find the link at all! I know I've used it on several occasions in the past and it has worked a treat... but I've looked just now and there's no sign of it.


I know they are making changes, with new passwords due to come in soon, so perhaps they have removed this option? Either that, or I'm being a bit daft this morning, which is always possible.... Anyway, if I've misled you on this, I'm really sorry. How annoying!

joe2cool

Hi thx anyway.... I'll contact if interest doesn't change.......

JustLikeThat

Is it possible that the OP opted for monthly interest as opposed to annual. The monthly rate would normally be a fraction less - it was for my Virgin accounts.

joe2cool

Hi 'Virgin' does say mthly, annually does make a difference? For my ISA I did choose mthly but shows annually? & the 'Easy Access Saver' does show mthly as chosen.

(just checked again the new ISA does show mthly, still says 1.40% AER instead of 1.41% & the Saver 0.97% AER instead of 1.21%?)

Thx

durhamviper

joe2cool wrote: »

Also my new 'Easy Access Saver' shows my old saver interest of 0.97% AER instead of 1.21%?

Virgin show the net rate, so 0.97% is 1.21% - 20% tax

joe2cool

Hi.......

Its just that 0.97% AER was showing for my old Saver account.

Thx

joe2cool

durhamviper wrote: »

Virgin show the net rate, so 0.97% is 1.21% - 20% tax

Hi you are right for the 'Saver' & the new ISA is still showing 1.40% instead of 1.41% even though online the 'Defined Access E-ISA' info shows

'Whether you choose to receive your interest annually or monthly, you'll still receive the same AER1'


Thx again