Virgin money RS - maturity

1882

1882 wrote: »

Interest recovered showing on mine too - makes no sense whatsoever! -£77 balance?

Just checked my accounts and the balance shows £0 - despite me paying nothing back.

verybigchris

Yup, back to nil balance, and with the tax statement still showing zero interest for 2018/19.

veryintrigued

Anyone else receive a credit today (into the account they pay the s.o. from) from their Virgin RS 10? Around £41 mine.

glider3560

veryintrigued wrote: »

Anyone else receive a credit today (into the account they pay the s.o. from) from their Virgin RS 10? Around £41 mine.

Yes. Equal to the interest paid so far this year.

Capped the balance at £3500. I thought the cap excluded interest, as with every previous issue.

veryintrigued

glider3560 wrote: »

Yes. Equal to the interest paid so far this year.

Capped the balance at £3500. I thought the cap excluded interest, as with every previous issue.

Indeed - just checked the same.

Thanks for getting back to me.

ctdctd

veryintrigued wrote: »

Anyone else receive a credit today (into the account they pay the s.o. from) from their Virgin RS 10? Around £41 mine.

Yep, I suspect that they have tried to fix the other issue and broken this instead!

veryintrigued

ctdctd wrote: »

Yep, I suspect that they have tried to fix the other issue and broken this instead!

I suspect the same.

It means that we'll not be compounding our interest for twenty odd days. Again at odds with all the other issues.

It's only a matter of pence but still shows lack of control.

david78

According to the key product information for Issue 10 there are two limits:


(1) a maximum deposit limit of £3500, and
(2) a maximum monthly deposit of £250 excluding interest added in the same month.

As the interest was added in March, limit (1) is exceeded when making a payment in April.

The wording seems to be the same for issue 9 and earlier (and issues 11, 12). Perhaps what has happened today is how it is supposed to work when its working properly. And perhaps allowing a balance above £3500 for earlier issues was the cause of the double-interest bug. Time will tell I suppose.

molerat

6p lost interest is a small amount to pay, I still have confidence in their ability to screw it up later in the month

Gers

ctdctd wrote: »

Yep, I suspect that they have tried to fix the other issue and broken this instead!

Yes - got me rather confused. The legend says 'breached payment limits' or something close to that. The account now has £3,500.