Virgin online savings

redmalc

Just had an e mail from Virgin Money advising they are reducing their online easy access interest rate to 1.01%
Well it's goodbye from me,looking were to put 50K any advice

Startinglate

I'm in the same position and am considering another account Virgin offers which pays 1.41%; the catch is that you can only make three withdrawals a year.

DiamondLil

At this rate it won't be long before we are paying them....
I have moved my cash to the interest bearing current accounts.
(TSB Classic Plus and Santander), but there are others too.
There are a few threads on here discussing these accounts.

redmalc

Diamond I note your comments regarding the current accounts,I work away a lot of the time and just don't have the time with all the moving of money each month from one to another.
I have been with Virgin for some and they have always been fair but this is taking the p,ss

jimjames

You don't need to move it manually so no need to be around every month to transfer funds.

Steve_xx

Birmingham Midshires easy access at 1.5% might suit?

techno12

I think that's the 3rd email like that I've received from Virgin Money in a year. Rates going down on the account.

I've just opened the 1.41% "3 withdrawals" one and transferred the bulk of the money to that.

Will keep both for the time being and transfer chunks to the easy access one as and when I need it, ensuring no more than 3 transfers of course.. (easy as we're into the 2nd half of the calendar year anyway)

DiamondLil

jimjames wrote: »

You don't need to move it manually so no need to be around every month to transfer funds.

redmalc, I do as jim suggests - standing orders from one to another monthly.
And direct debits where necessary too.
All set up online.

jarviser

Poor rates now, and no mobile apps. Bad outlook for them