The Top Easy Access Savings Discussion Area

pecunianonolet

Just a warning to those thinking of applying for the Virgin Money Defined Access E-Saver Issue 19. Applied as existing customer and had to go through the full application process with all the data requests about employer, income and all security questions when they already have this data and was already annoyed that I couldn't just open via app. Account opened instantly after application and got the sort code, account number and customer ID. 

Now spoke with them via chat in the app to merge and was told the account is on a different system, all other accounts I have start with 82 sort code and the saver is 08. Was told merge is not possible and I need to operate it via online banking. Won't bother funding now. Looks like their IT is as useless as Cynergy and of course MONBS. 

financehelp23

pecunianonolet said:

Just a warning to those thinking of applying for the Virgin Money Defined Access E-Saver Issue 19. Applied as existing customer and had to go through the full application process with all the data requests about employer, income and all security questions when they already have this data and was already annoyed that I couldn't just open via app. Account opened instantly after application and got the sort code, account number and customer ID. 

Now spoke with them via chat in the app to merge and was told the account is on a different system, all other accounts I have start with 82 sort code and the saver is 08. Was told merge is not possible and I need to operate it via online banking. Won't bother funding now. Looks like their IT is as useless as Cynergy and of course MONBS. 

Exactly, very inconvenient. I gave up on them! I do not want to have a separate banking only for this accoun tand go through all the pain again... 

Section62

financehelp23 said:

Is that anyone have issues to open VM 5.12% account? Their system is bad and asks you seven customer numbers which is 10. I could not get over. Think give up...

If that's something to do with logging in to their online banking then their different systems use different types of customer ID's.

The first step in logging in is to select the right kind of log in for your account number - if it asks you for a 7 digit ID and you have a 10 digit one then you are probably in the wrong place.

(see pecunianonolet's comment about '08' sort codes vs '82' sort codes)

Malchester

financehelp23 said:

pecunianonolet said:

Just a warning to those thinking of applying for the Virgin Money Defined Access E-Saver Issue 19. Applied as existing customer and had to go through the full application process with all the data requests about employer, income and all security questions when they already have this data and was already annoyed that I couldn't just open via app. Account opened instantly after application and got the sort code, account number and customer ID. 

Now spoke with them via chat in the app to merge and was told the account is on a different system, all other accounts I have start with 82 sort code and the saver is 08. Was told merge is not possible and I need to operate it via online banking. Won't bother funding now. Looks like their IT is as useless as Cynergy and of course MONBS. 

Exactly, very inconvenient. I gave up on them! I do not want to have a separate banking only for this accoun tand go through all the pain again... 

On the subject of VM. About 1 year or so ago I tried to open a current account with them online but the system insisted that I already had an account with them and to progress with the application I had to enter the account details. I don't. The last account I had was a Clydesdale Bank ISA which ended in the summer of 2014. I rang customer services and they didn't have a clue as to what was happening because of their myriad of computer systems which I am not sure that anybody understands. Gave up and went with Santander. Good decision I think.

mebu60

UncleK said:

What is this "too many closed accounts" with Cynergy - we have 23 closed accounts now? Will it be an actual problem when we reach 25 (or some other number)?

Think it's just an occasional hiccup. Mine happened on 20 closed accounts but also on a Sunday which may or may not be related. But no problems with this new issue and now on 25 closed accounts.

It's generally a pretty slick process to close and transfer. I just think of the compound interest bonus :-)  

financehelp23

Section62 said:

financehelp23 said:

Is that anyone have issues to open VM 5.12% account? Their system is bad and asks you seven customer numbers which is 10. I could not get over. Think give up...

If that's something to do with logging in to their online banking then their different systems use different types of customer ID's.

The first step in logging in is to select the right kind of log in for your account number - if it asks you for a 7 digit ID and you have a 10 digit one then you are probably in the wrong place.

(see pecunianonolet's comment about '08' sort codes vs '82' sort codes)

This new account 5.12% only allows you to use 7 7-digit login. Many existing customers do not have only 10. As 7 digital saving accounts are managed by original Virgin in another system. You have to open as a new customer and set up another online banking. This means you can not do internal transfers with your other virgin account...

janusd

Saffron BS My Saver increasing from 4.60% to 4.80% on Wednesday 11th October.

Section62

financehelp23 said:

Section62 said:

financehelp23 said:

Is that anyone have issues to open VM 5.12% account? Their system is bad and asks you seven customer numbers which is 10. I could not get over. Think give up...

If that's something to do with logging in to their online banking then their different systems use different types of customer ID's.

The first step in logging in is to select the right kind of log in for your account number - if it asks you for a 7 digit ID and you have a 10 digit one then you are probably in the wrong place.

(see pecunianonolet's comment about '08' sort codes vs '82' sort codes)

This new account 5.12% only allows you to use 7 7-digit login. Many existing customers do not have only 10. As 7 digital saving accounts are managed by original Virgin in another system. You have to open as a new customer and set up another online banking. This means you can not do internal transfers with your other virgin account...

Sure.  The point was you said "I could not get over".  The answer to getting over that issue is that using a 10-digit ID won't work with the '08' sort code system using 7-digit IDs, you have to set up a profile for an '08' account to get a 7-digit ID.

The system isn't "bad" for asking you for a 7-digit ID when you only have a 10-digit one - it just reflects the fact the current VM systems are a partial amalgamation of legacy systems from VM, Northern Rock and CYBG and those systems are still running in parallel.

The "bad" bit is VM still haven't got round to merging them into a unified system - but having to use different user ID's has generally been a minor irritation when VM have been providing good value (sometimes market leading) products.  Some of us would vote for top interest rates and a little bit of login hassle, in preference to mediocre interest rates and a snazzy unified IT system.

TiVo_Lad

Re: Cynergy

I think they must have been having issues. I applied again this morning and within the usual 10-15 minutes got an application successful eMail alongside another application succesful eMail. Was easy enough to close one and then transfer over to the other but my closed tally is now 26!

Eirambler

Yes, this 5.12% savings account is from Virgin Online, which is different to Virgin Money (which itself is really just a rebrand of the old Clydesdale Bank).

If you have a Virgin account but don't have a seven digit (actually letter) number you need to set it up. When you go into the Virgin Money app there is a link to manage accounts starting with 08 and you access them from there through a weblink.

In a practical sense it's better to work on the basis that Virgin Online and Virgin Money are two different banks (other than the 85k protection of course, which they share).