Regular Saver Thread **New and Restarted**

Dagobert

I only just noticed that the old thread disappeared.

Great to see the thread being resurrected.
Having checked through the new thread, am I right in assuming that the top posts are no longer being updated?

veryintrigued

Dagobert wrote: »

Having checked through the new thread, am I right in assuming that the top posts are no longer being updated?

Special saver hasn't logged on since the 14th Jan.

Fingers crossed everything's OK in their life and they are able to resume soon.

ashteadgirl

veryintrigued wrote: »

Special saver hasn't logged on since the 14th Jan.

Fingers crossed everything's OK in their life and they are able to resume soon.

Agree entirely. SS did a wonderful job that helped so may of us. Hope to hear from them again soon even if it is just to let us know all OK

Frogletina

I have just made my 13th payment today for my Virgin Matchday Branch saver which matures on 1st March.

However, I've also had a payment returned for £20.75. I have just spent ages on the phone to Virgin Money, and the adviser first of all told me that the maximum I could have in the account was £3000, which I knew was incorrect.

She went to check - I was left on hold for ages and then she said again that I had exceeded the balance. I told her that this was incorrect - that I was allowed to make 13 payments as shown on the paperwork. The amount returned was the interest added to the account, which gives me a total of 3270.75. Any additional money over the £3250 is returned, excluding added interest. She said she needed further advice and said she would call me back.

Further call back to say that a glitch in the system meant that any payment (interest or not) that makes the balance over £3250 results in the excess being returned. She advised me to resend the £20.75.

Not impressed

frogletina

badger09

Frogletina wrote: »

I have just made my 13th payment today for my Virgin Matchday Branch saver which matures on 1st March.

However, I've also had a payment returned for £20.75. I have just spent ages on the phone to Virgin Money, and the adviser first of all told me that the maximum I could have in the account was £3000, which I knew was incorrect.

She went to check - I was left on hold for ages and then she said again that I had exceeded the balance. I told her that this was incorrect - that I was allowed to make 13 payments as shown on the paperwork. The amount returned was the interest added to the account, which gives me a total of 3270.75. Any additional money over the £3250 is returned, excluding added interest. She said she needed further advice and said she would call me back.

Further call back to say that a glitch in the system meant that any payment (interest or not) that makes the balance over £3250 results in the excess being returned. She advised me to resend the £20.75.

Not impressed

frogletina

This has happened on several other issues of Virgin's regular savers. It happened on one of mine, but to be honest, I CBA taking it up with them as the interest lost on the returned amount was tiny.

Having said that, I do accept there is a principle at stake, so let us know the outcome.

Nationwide8

Deleted_User wrote: »

My (second) TSB Monthly Saver (2% fixed) matures on 23 February. I see that the current offer for a new Monthly Saver is still 2% fixed, despite the Base Rate rise in November. Last year, this was a reasonable rate for an account of this type but current offerings are better. I have all the usual high interest RS's and current accounts, so it wouldn't be a case of taking out an alternative. I am thinking of not taking out a new TSB MS immediately but waiting to see if the offered rate goes up.Just wondered if anyone has done similar or has any views on this?

My TSB RS matures in March and I won't open another one at 2% Its less than £10 extra a year roughly.My "cut off" is 2.5% ( opening BOS and Halifax RS this month ) have space in my Sant 1-2-3 which averages about 1.3-4 % after the fee ( partly paid with cash back )

schiff

Frogletina wrote: »

I have just made my 13th payment today for my Virgin Matchday Branch saver which matures on 1st March.

However, I've also had a payment returned for £20.75. I have just spent ages on the phone to Virgin Money, and the adviser first of all told me that the maximum I could have in the account was £3000, which I knew was incorrect.

Further call back to say that a glitch in the system meant that any payment (interest or not) that makes the balance over £3250 results in the excess being returned. She advised me to resend the £20.75.

frogletina

I've been to collect the proceeds of the store RS 2 this very morning!
Its balance per the pass-book has been £3275.65 since 2/1/18, the difference being the interest credited back on 31/1/17. So there's some inconsistency there.

There is a new system on their computers, my opening of RS 8 yesterday was far more laborious that it has been before and the girl attending to me had to ask for assistance even though she has opened accounts for me before without a hitch.

schiff

Nationwide8 wrote: »

My TSB RS matures in March and I won't open another one at 2% Its less than £10 extra a year roughly.My "cut off" is 2.5% ( opening BOS and Halifax RS this month ) have space in my Sant 1-2-3 which averages about 1.3-4 % after the fee ( partly paid with cash back )

There hasn't been a case for opening regular savers paying 2% or less since Virgin started their flood of accounts paying 2.25%.

Unless there is no option of course

veryintrigued

adindas wrote: »

Does anyone know the most efficient way to close those account ?
Is there any way to close those account without the need to go into Branch ??

Thanks

Assume you've looked at the T&Cs - these are for the latest in Store RS:

You can have access to your money whenever you need it. To request a withdrawal simply send your written instructions to Savings Operations, Virgin Money, Jubilee House, Gosforth, Newcastle upon Tyne, NE3 4PL or you can take money out in the following ways:
Cash – Store** only.
Cheque – simply complete a Transaction Slip and a cheque will be sent promptly to your correspondence address.
Electronic transfer.
CHAPS.
Transfer to another Virgin Money account, subject to the terms and conditions of that account.

Frogletina

adindas wrote: »

Does anyone know the most efficient way to close those account ?
Is there any way to close those account without the need to go into Branch ??

Thanks

I was told that it is either a branch visit or a letter to the head office.

I gave instructions for the first one that matured in December as to where I wanted the money transferred to - I don't know why they can't use those details for subsequent maturities.

frogletina