Virgin money RS - maturity

molerat

Frogletina wrote: »

.... After a couple of phonecalls I have been advised that it is an IT error .......

An IT error by Virgin, surely not :eek:

pafpcg

xylophone wrote: »

This is all very odd!

I don't think it's odd at all - it's a symptom of inadequate testing, probably using a small test dataset which hasn't simulated 'real world' conditions!

Some poor programmer has been given a specification which had ignored the exception for balances which include interest, and the programmer has put in a test such as "IF PREVIOUS-BALANCE AND DEPOSIT IS GREATER THAN £3500 THEN PERFORM REJECT-DEPOSIT" which allows balances upto £3,500 but returns any excess. Having a test which checks for a balance which includes interest and allows the maximum balance to be increased wasn't considered or was ignored 'cos it would delay the implementation....

With Clydesdale planning to replace much of Virgin Money's systems, it could be either just rock-bottom morale or a lowest-cost-to-fix-problems policy.

Yorkshire_Pud

Look on the bright side, who's to say that when the RS 10 matures Virgin don't pay the interest again (+again!).

verybigchris

Yorkshire_Pud wrote: »

Look on the bright side, who's to say that when the RS 10 matures Virgin don't pay the interest again (+again!).

I'm expecting double interest, but only on what the account's earned since the March interest credit (so 2x not very much)

veryintrigued

Remember to now stop your standing order for RS10 now!

colsten

veryintrigued wrote: »

Remember to now stop your standing order for RS10 now!

Don't you set up your SOs with an end date, or with a total number of payments, in the first instance?

veryintrigued

colsten wrote: »

Don't you set up your SOs with an end date, or with a total number of payments, in the first instance?

I don't put end dates on mine.

I've had RS that have morphed into other follow on accounts (with the same sort code and account numbers) that I've continued with.

Hence I only cancel the s.o. when I am 100% that the account is ending and as part of a manual spreadsheet action.

Works for me.

karlie88

Looks like VM have fixed the problem that some of us encountered on 1st April.

I was losing sleep over the missed interest on my £41 so I re-sent the money to VM Reg e-Saver Issue 10 yesterday and it was added without any issues.

I am now trying to decide what I will spend my extra 10p on whilst drafting up a complaint via email so that I can be compensated for the 4 days of interest I lost out on - £1000.05 should be enough. 5p to cover for the loss of interest and the remaining to cover for stress and anxiety.
Nota bene - I did not lose any sleep and I am not sending an email.

colsten

It also looks as if they may have written off any duplicate interest they might have paid on this account.

molerat

10....9....8.....7.........