Virgin 5 Year 4.3% Maturing

Stompa

My Virgin (Northern Rock) 5 year bond paying 4.3% as mentioned here:

https://forums.moneysavingexpert.com/discussion/2994262

is unfortunately due to mature very soon. I'm rather surprised not to have heard anything from them prior to maturity, has anybody else? Or will we simply just receive a cheque in the post?

KenC_3

The product summary says that they will write to you before maturity to advise you of the interest payable on the Matured Bond account and the options available to you.

Stompa

KenC wrote: »

The product summary says that they will write to you before maturity to advise you of the interest payable on the Matured Bond account and the options available to you.

Ah thanks, I've just managed to locate my copy of the product summary. I thought mine was due to mature on the 5th anniversary (which for me is Jan 22), but from the product summary it looks as if it will actually be Feb 1, so there's still time to hear from them.

lemsford

I have just had a Virgin ISA mature. I was waiting for a letter, rang them and they said everything is done online now, and I received a 'message' online re maturity. Hope this helps.

Stompa

lemsford wrote: »

I have just had a Virgin ISA mature. I was waiting for a letter, rang them and they said everything is done online now, and I received a 'message' online re maturity. Hope this helps.

Thanks, I'll keep a look out for that.

KenC_3

This account was only able to be opened at a branch or by post to Head Office and I've never been given any log in details by either NR or Virgin. The T&Cs have never been changed so Virgin is required to write to customers.

greenglide

This account was only able to be opened at a branch or by post to Head Office and I've never been given any log in details by either NR or Virgin. The T&Cs have never been changed so Virgin is required to write to customers.

We had a Northern Rock stepped 5 year ISA that was paying staggering rates of interest in its final year. This was also opened by post and had never been an online account. Virgin wrote to us telling us the options.

The bit that was reinvested stayed a postal account. Virgin still offer many postal accounts with the same rates as online.

Stompa

Letter now received. Unsurprisingly the follow on deals are pretty poor.

1.65% AER 1 Year fixed rate, no withdrawals.
2.10% AER 3 Year fixed rate, no withdrawals.
2.35% AER 5 Year fixed rate, no withdrawals.

or an Easy Access account, 1.40% AER

If you do nothing it's 0.10% AER.

Rollinghome

Stompa wrote: »

Letter now received. Unsurprisingly the follow on deals are pretty poor.

1.65% AER 1 Year fixed rate, no withdrawals.
2.10% AER 3 Year fixed rate, no withdrawals.
2.35% AER 5 Year fixed rate, no withdrawals.

or an Easy Access account, 1.40% AER

If you do nothing it's 0.10% AER.

The instant access account being offered is the Easy Access Reward, their idea of a special deal for us treasured long-standing customers as their standard Easy Access account pays just 1.01%. Hard to believe, but it is a fairly decent rate compared with what's on offer elsewhere for similar accounts. Seems to be post or branch operated only.

Just a smidgeon less than Shawbrook and Virgin's own "limited access" account which allows just 3 withdrawals a year. Holding a lot of cash is getting tricky if it won't cram into another decent current account.