The Top Easy Access Savings Discussion Area

SFindlay

wiseonesomeofthetime said:

baldeagle09 said:

Easy Access savings increasing to 1% from 1st March for Virgin Money savers. Must have a linked Current Account
https://www.thisismoney.co.uk/money/saving/article-10528037/Best-buy-savings-Virgin-Money-offering-1-current-account-customers.html

Not sure where I stand on this because I still have FOUR of those savings accounts still open, despite CASS three of the linked current accounts.

If I do use one, I will obviously use the one that is definitely linked. However, if I was to use the other three, what rate would they attract, I wonder?

Not bothered enough to ask as tbh, I won't be putting any savings there as can't stand the app. (I know. Nose, face, but it's pennies!!)

It's pretty irrelevant anyway as doesn't matter if put £10,000 in all 4 or £40,000 in 1 of them you would still get same interest. Its not like multiple Regular savers where monthly deposits restricted for each account so worth having more than 1 so can put max into each account every month. 

Mr._H_2

SFindlay said:

wiseonesomeofthetime said:

baldeagle09 said:

Easy Access savings increasing to 1% from 1st March for Virgin Money savers. Must have a linked Current Account
https://www.thisismoney.co.uk/money/saving/article-10528037/Best-buy-savings-Virgin-Money-offering-1-current-account-customers.html

Not sure where I stand on this because I still have FOUR of those savings accounts still open, despite CASS three of the linked current accounts.

If I do use one, I will obviously use the one that is definitely linked. However, if I was to use the other three, what rate would they attract, I wonder?

Not bothered enough to ask as tbh, I won't be putting any savings there as can't stand the app. (I know. Nose, face, but it's pennies!!)

It's pretty irrelevant anyway as doesn't matter if put £10,000 in all 4 or £40,000 in 1 of them you would still get same interest. Its not like multiple Regular savers where monthly deposits restricted for each account so worth having more than 1 so can put max into each account every month. 

That's not accurate. The account will only pay 1% up to £25,000, then 0.5% on amounts above that. So if you split £40k over two accounts, you'll get more interest than putting it all in one account.

fly-catchers

As a Virgin M account user I am surprised I haven’t heard anything from Virgin themselves about the forthcoming interest increase. Glad I am on this forum.. 

SFindlay

Mr._H_2 said:

SFindlay said:

wiseonesomeofthetime said:

baldeagle09 said:

Easy Access savings increasing to 1% from 1st March for Virgin Money savers. Must have a linked Current Account
https://www.thisismoney.co.uk/money/saving/article-10528037/Best-buy-savings-Virgin-Money-offering-1-current-account-customers.html

Not sure where I stand on this because I still have FOUR of those savings accounts still open, despite CASS three of the linked current accounts.

If I do use one, I will obviously use the one that is definitely linked. However, if I was to use the other three, what rate would they attract, I wonder?

Not bothered enough to ask as tbh, I won't be putting any savings there as can't stand the app. (I know. Nose, face, but it's pennies!!)

It's pretty irrelevant anyway as doesn't matter if put £10,000 in all 4 or £40,000 in 1 of them you would still get same interest. Its not like multiple Regular savers where monthly deposits restricted for each account so worth having more than 1 so can put max into each account every month. 

That's not accurate. The account will only pay 1% up to £25,000, then 0.5% on amounts above that. So if you split £40k over two accounts, you'll get more interest than putting it all in one account.

Where have you seen those T&C? The current T&C for the linked M Plus Saver states the 0.35% interest will be paid on the whole balance not just the first £25,000 so can you post the link to where on Virgin site the new T&C's are please.

Daliah

SFindlay said:

Mr._H_2 said:

SFindlay said:

wiseonesomeofthetime said:

baldeagle09 said:

Easy Access savings increasing to 1% from 1st March for Virgin Money savers. Must have a linked Current Account
https://www.thisismoney.co.uk/money/saving/article-10528037/Best-buy-savings-Virgin-Money-offering-1-current-account-customers.html

Not sure where I stand on this because I still have FOUR of those savings accounts still open, despite CASS three of the linked current accounts.

If I do use one, I will obviously use the one that is definitely linked. However, if I was to use the other three, what rate would they attract, I wonder?

Not bothered enough to ask as tbh, I won't be putting any savings there as can't stand the app. (I know. Nose, face, but it's pennies!!)

It's pretty irrelevant anyway as doesn't matter if put £10,000 in all 4 or £40,000 in 1 of them you would still get same interest. Its not like multiple Regular savers where monthly deposits restricted for each account so worth having more than 1 so can put max into each account every month. 

That's not accurate. The account will only pay 1% up to £25,000, then 0.5% on amounts above that. So if you split £40k over two accounts, you'll get more interest than putting it all in one account.

Where have you seen those T&C? The current T&C for the linked M Plus Saver states the 0.35% interest will be paid on the whole balance not just the first £25,000 so can you post the link to where on Virgin site the new T&C's are please.

It's been leaked by This Is Money, along with the information about  the improved interest rate. None of it is yet on the VM site.

ColdIron

That's right, 1.00% up to £25,000

https://www.thisismoney.co.uk/money/saving/article-10528037/Best-buy-savings-Virgin-Money-offering-1-current-account-customers.html

Got my debit card this morning, switched an old TSB Plus that was doing nothing. I never bothered with the VM M Plus account before, £20 pa just didn't seem worth the bother especially considering it's a new application even if you had older legacy savings accounts with them but the new savings account changed my mind

dc_scotland

fly-catchers said:

As a Virgin M account user I am surprised I haven’t heard anything from Virgin themselves about the forthcoming interest increase. Glad I am on this forum.. 

Not on their website yet (as far as I know) but Virgin posted details of the new interest rate last week on their Facebook and Twitter. Since then they have been posting links to media coverage of the rate rise.

RG2015

fly-catchers said:

As a Virgin M account user I am surprised I haven’t heard anything from Virgin themselves about the forthcoming interest increase. Glad I am on this forum.. 

It was on their official Twitter site on Feb 18

typistretired

On Virgin Money Facebook post

Breaking news! 

From 1 March we'll be boosting our M Plus linked saver to a red-hot and market-leading interest rate of 1% AER (variable) on balances up to £25,000. Even better, we’re also increasing the interest rate to 0.50% AER (variable) on balances above £25,000. 

If you don't already have an M Plus Account, don’t miss out, apply now: https://virg.in/4umW

RG2015

wiseonesomeofthetime said:

baldeagle09 said:

Easy Access savings increasing to 1% from 1st March for Virgin Money savers. Must have a linked Current Account
https://www.thisismoney.co.uk/money/saving/article-10528037/Best-buy-savings-Virgin-Money-offering-1-current-account-customers.html

Not sure where I stand on this because I still have FOUR of those savings accounts still open, despite CASS three of the linked current accounts.

If I do use one, I will obviously use the one that is definitely linked. However, if I was to use the other three, what rate would they attract, I wonder?

Not bothered enough to ask as tbh, I won't be putting any savings there as can't stand the app. (I know. Nose, face, but it's pennies!!)

I tend to agree about banking apps in general, but I don't find the Virgin Money app any worse than other banking apps.

It is good that the Virgin Money online site has full functionality and that the app works on my iPad if I need a larger screen and keyboard.