The Top Easy Access Savings Discussion Area

Aidanmc

Section62 said:

10_66 said:

Section62 said:

Online is £30k if authenticated by security token...

How do you set up the security token?  There doesn't seem to be any information about it on Virgin website, other than on their withdrawal limit list.

I think you have to phone or use online chat to ask for one... they may try to persuade you to use the app instead.

I couldn't find a way of sorting it out online - in fact there was no reference to a security token at all in my online banking, despite already having one which I thought would still be valid/active.

The moment the request for a new one had been made by their CSA, a new panel appeared in my online banking asking me to activate the security token (though obviously I have to wait to physically get it before doing so).

I'll update the forum when it arrives, so other people will have an idea how long it takes.

I wonder if its possible to get a security token if i previously used the app?

I downloaded the app on a family members phone previously as part of a switch incentive, as i dont have a smart phone/device. Would prefer this token if its possible.

Daliah

RG2015 said:

Re Virgin Money current account payments.

Can anyone confirm that there are no payment limits under £30k when using their app?

No limit on the amount below £30K but they may well "review" your payment request, which can lead to a substantial delay in your payment being eventually made. The reviewers don't work weekends, and they are taking their time, anyway. 

masca

It's sad to see Cynergy falling behind the pack.  An increase from 0.70% to 0.71% following the TWO BOE interest rate increases is more than a little bit unsatisfactory!  My savings will have to find a new home, me thinks...

refluxer

masca said:

It's sad to see Cynergy falling behind the pack.  An increase from 0.70% to 0.71% following the TWO BOE interest rate increases is more than a little bit unsatisfactory!  My savings will have to find a new home, me thinks...

I know that 'every little helps' but I'm not sure a 0.04% increase would be enough to make it worth the effort for me, personally. 

typistretired

Someone will probably correct me as I am not very mathematical and please do all help appreciated.
£10,000.00 savings left in account for a year and interest left in account
interest earned
Marcus £60
Cynergy £71
Atom £75
Tesco £84
Virgin £100 (from 1st March 2022)

refluxer

typistretired said:

Someone will probably correct me as I am not very mathematical and please do all help appreciated.
£10,000.00 savings left in account for a year and interest left in account
interest earned
Marcus £60
Cynergy £71
Atom £75
Tesco £84
Virgin £100 (from 1st March 2022)

It's probably worth pointing out that Tesco would be currently £49 (0.49%) to new customers or less than £84 for those without that specific version of the Internet Saver.

typistretired

I was just trying to point out it is not pennies if you have large sum. Some posters have been talking about over £30,000. 

But yes if you missed out on the account with Tesco which is now paying interest at 0.84% you will only get £49

refluxer

Ah yes, I'd forgotten about the latest Virgin announcement in which case, yes - a jump from 0.71% to 1% would be a bit more like it. However, after the previous discussion about withdrawal hassles/limits and having also to open a current account with Virgin, I think I'll hold fire and see if the others play catch-up. The 0.84% Tesco saver will keep me going for a while longer

Daliah

typistretired said:

Someone will probably correct me as I am not very mathematical and please do all help appreciated.
£10,000.00 savings left in account for a year and interest left in account
interest earned
Marcus £60
Cynergy £71
Atom £75
Tesco £84
Virgin £100 (from 1st March 2022)

Inflation takes at least £500 off the purchasing power of £10,000.

typistretired

And the big banks are sitting on billions of savings paying only 0.01%