Virgin Money Maturity

[Deleted User]

I am not too impressed by Virgin Money.

Their Regular E-Saver Issue 2 was due to mature today. So, I logged on earlier this afternoon only to see the maturity date had been changed to tomorrow. OK - it's only a day, but I was looking to move some money around today to enable me to buy Christmas presents etc.

I've sent them an online email to ask why the change has become necessary, but I have got no reply as yet.

This is on top of a notification I saw on my Regular E-Saver Issue 1, which has now matured, saying I had an account limit breach, which wasn't true, and for which they eventually apologised.

Anyway, just thought I'd mention it. Worth checking your accounts with Virgin if you have any.

veryintrigued

I'm in exactly the same position.

Not the end of the world but I agree its frustrating.

AirlieBird

cmondynamite wrote: »

OK - it's only a day, but I was looking to move some money around today to enable me to buy Christmas presents etc

There's nothing stopping you making a withdrawal or closing the account today.

[Deleted User]

I've withdrawn £3252 today from my Virgin Money Regular E Saver Issue 2 to my nominated account, leaving £1.29 in the VM account. Tomorrow the interest should (hopefully) be credited and I will move out the full balance.

veryintrigued

Deleted_User wrote: »

I've withdrawn £3252 today from my Virgin Money Regular E Saver Issue 2 to my nominated account, leaving £1.29 in the VM account. Tomorrow the interest should (hopefully) be credited and I will move out the full balance.

I suppose the only upshot is that the balance will be earning the 2.25% for an extra day (what's that about 20p on the circa £3252 sort of balance?). Assuming that:

1) It is just a day.
2) They pay for the extra day.

Really poor systems to extend the term though - without notice.

badger09

I haven't bothered doing anything about it. Another day doesn't really make any difference to me but annoying all the same.

veryintrigued

Mine has now been changed to a Reward 12. Uncleared interest of 37.18 added making a balance of 3290.47.

The fact it has uncleared transactions (although the balance says its 'available') means full account closure isn't possible yet. Not the best systems.

This has all occurred in the last couple of hours.

Stompa

veryintrigued wrote: »

Mine has now been changed to a Reward 12. Uncleared interest of 37.18 added making a balance of 3290.47.

The fact it has uncleared transactions (although the balance says its 'available') means full account closure isn't possible yet. Not the best systems.

This has all occurred in the last couple of hours.

Thanks, mine too. The interest is still showing as an uncleared transaction though.

Update: Interest now shown as cleared.

Stompa

veryintrigued wrote: »

Mine has now been changed to a Reward 12. Uncleared interest of 37.18 added making a balance of 3290.47.

The fact it has uncleared transactions (although the balance says its 'available') means full account closure isn't possible yet. Not the best systems.

This has all occurred in the last couple of hours.

I'm really puzzled now. My balance was £3253.29, and the interest was £37.18, so a total balance of £3290.47. It was changed to a Reward 12, and the interest was shown as cleared. So I closed the account, transferring the amount to my nominated account. The Reward 12 account now shows a balance of £0.00. So far, so good.

But, the amount received in my nominated account is £3327.56. Almost as if they've added the interest twice. What are they playing at? I assume they'll retrieve the excess at some point?

YorkshireBoy

Stompa wrote: »

But, the amount received in my nominated account is £3327.56. Almost as if they've added the interest twice. What are they playing at? I assume they'll retrieve the excess at some point?

Sssshhhh

skitskut

Stompa wrote: »

I'm really puzzled now. My balance was £3253.29, and the interest was £37.18, so a total balance of £3290.47. It was changed to a Reward 12, and the interest was shown as cleared. So I closed the account, transferring the amount to my nominated account. The Reward 12 account now shows a balance of £0.00. So far, so good.

But, the amount received in my nominated account is £3327.56. Almost as if they've added the interest twice. What are they playing at? I assume they'll retrieve the excess at some point?

Same thing happened to Hattie a couple of months ago...

https://forums.moneysavingexpert.com/discussion/608697