Problem with virgin money savings account (warning to potential customers)

YorkshireBoy

SarahD92 wrote: »

@bowlhead99
1. They claim to have sent me 6 letters, not one have been delivered, however, all their promotional letters and emails have been delivered just fine.
2. Restricted my access to my savings, even though I informed them of the fact that their letters have not been delivered.
3. Won't return my money my UK nominated account, from which I have paid money into my Virgin Money savings account.

Scenario:

You have left your partner and moved out of that property, taking your ID documents with you.
Your partner has moved someone else in with them.
But before your relationship went pear-shaped, and after you opened the Virgin account, you made your "nominated account" a joint one with your partner.
Letters have been received, but you weren't there to deal with them.
Your ex partner is now asking their new partner to impersonate you so he can get at the funds via the (now jointly held) "nominated account".

Far fetched possibly...but why should Virgin take the risk?

Can you see now why Virgin are being cautious?

SarahD92

@tibawo
Count yourself lucky. I really can't believe they expect customers to trust them with all their confidential information, all the while they can't even send a letter to me properly.

People forget that recently there was a big scam involving the employees of one of the big UK banks, where they would provide customers info to their friends, they stole millions from the accounts....

colsten

I have held accounts with Virgin Money on and off for a few years, and I presently have 8 with them - 4 online and 4 Branch-only. I never had any problem with them, but then I never refused to show them ID which they require in Branch. Can highly recommend Virgin Money.

colsten

SarahD92 wrote: »

People forget that recently there was a big scam involving the employees of one of the big UK banks, where they would provide customers info to their friends, they stole millions from the accounts....

Which bank was that?

SarahD92

@YorkshireBoy

That's a possibility. However, it really doesn't excuse their ineptitude at sending me letters to request documentations. The other problem is that they want an amount excessive documentations, which could put me at severe risk of fraud if they fell into the wrong hands. They're not asking me to take the docs to a branch, they want me to post them, which only increases the risks.

Sceptic001

colsten wrote: »

Which bank was that?

I presume OP is referring to the recent HBOS convictions. But that was nothing to do with ID fraud, it was a case of asset-stripping small businesses.
http://www.bbc.co.uk/news/business-38796087

EDIT: Or, judging by post #18, I presume wrong. Are we talking about the LIBOR scandal, perhaps? But that did not involve theft from customers...

SarahD92

@colsten
I made a minor mistake, it wasn't just one bank, it was Lloyds, Santander, Barclays and Royal Bank of Scotland... unbelievable!

By the way, I don't think you read the initial post, I also have no problem presenting ID when going to the branch, so we both have that in common. Virgin Money are asking for various forms of ID and payslips and bank statements to be posted to them, because.....I really don't know why.

All the while, London properties are being bought by Chinese, Russian, and middle eastern hot money, wish Virgin Money could do something to stop those transactions.

YorkshireBoy

SarahD92 wrote: »

The other problem is that they want an amount excessive documentations, which could put me at severe risk of fraud if they fell into the wrong hands. They're not asking me to take the docs to a branch, they want me to post them, which only increases the risks.

Not all of them surely? It's generally one proving name and one proving address.

Indeed, here's the Virgin document detailing said documentation...

https://uk.virginmoney.com/virgin/downloads/nonfacetofaceid.pdf

Are they asking for something over and above that?

welshmoneylover

SarahD92 wrote: »

Hi there

I am having some serious problems with my virgin money savings account, so I'm creating this thread as a warning to anyone considering banking with them, and also to seek some advice.

I have put all my life savings in my virgin money savings account, I have been banking with for around six months, everything was fine, until I tried to log in to check my balance, only to realise that my account has been restricted. Upon calling them, I was informed that they have sent me some letters to ask for more information, 6 letters to be exact, but I have never received any of them. So they have gone ahead and restricted my account, because I had not responded to the letters that clearly were not sent, it's not possible for 6 letters to get lost in the post.

They're asking for some very confidential information, such as copy of passport and bank statements, payslips, driving license, utility bills, and etc. Obviously, I am not comfortable to give them access to all of that confidential information, so I asked them to close my account and transfer all my savings to the account that it came from. They're refusing to do that, so I'm looking for some help with this situation, have any of you ever experienced something similar? Can they refuse to return my money to my bank account??

Warning to potential customers: Over the past 10 years, I have more or less experienced banking with many of the banking institutions, my experience with Virgin Money has been so much worse than the other banks, I would urge everyone considering banking with them to read some of their reviews online, I wish I had done that.

Many thanks in advance

Sounds to me as if Virgin are being extra diligent in proving your identity which after all the recent scams is probably a wise move if you ask me.

colsten

SarahD92 wrote: »

@colsten
I made a minor mistake, it wasn't just one bank, it was Lloyds, Santander, Barclays and Royal Bank of Scotland... unbelievable!

WOW! Astounding that this wasn't covered in the Press at the time.