The Top Easy Access Savings Discussion Area

eskbanker

typistretired said:

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

Some would say that illustrates bank greed, whereas others would observe that it's due to ignorance/laziness/inertia of savers....

cricidmuslibale

eskbanker said:

typistretired said:

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

Some would say that illustrates bank greed, whereas others would observe that it's due to ignorance/laziness/inertia of savers....

I would say both of those are true tbh.

masca

eskbanker said:

typistretired said:

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

Some would say that illustrates bank greed, whereas others would observe that it's due to ignorance/laziness/inertia of savers....

I would argue that it's actually false advertising.  A savings account (or 'deposit' account in old money) should I think have a minimum rate relative to the BOE rate.  Not everyone is savvy or has the technical know how to open multiple accounts and/or move money about online safely, and to call them lazy or ignorant is, I think, somewhat unfair.  Let's face it, if the same people rock up to their local Barclays (or A.N.Other) branch, they're sadly more likely to end up being further ripped off than benefiting hugely from increased savings interest.

typistretired

Totally agree masca.

tg99

Anyone aware of a limit on debit card transaction amounts for Virgin M+ current account? Chat did not seem to think there was one.

typistretired

It says £500 cash at service presume they mean ATM, online £350. 

Just noticed in their terms and conditions from 18th February 2022 you can have only open one current but they will not be closing any extra accounts opened before this date

Daliah

tg99 said:

Anyone aware of a limit on debit card transaction amounts for Virgin M+ current account? Chat did not seem to think there was one.

I use Chase for debit card spend. No limits but 1% cashback for 12 months on many of the most popular types of spending.

Andystriker

Section62 said:

RG2015 said:

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.

Worth noting though that the old YB/CB withdrawal limits apply to users of the online site - if you don't use the app or have a security token you are limited to £500 per transaction and £1000 per day total for FP transactions.

Also that old security tokens were deactivated a while back as part of one of the site upgrades.

So for people intending to use the M+ Saver as a place to store significant sums for easy access it will be essential to either use the app, or make sure you have an activated security token, if you want to withdraw more than £1000 per day.

Just a thought.  I don't see any reason why this would not work?

I have a Cheque book for the current account linked my M saver so I suppose I could write a cheque out to myself and go and pay it in my other high streeet bank for any big balance.  Any one know if this would work?

Consumerist

Andystriker said:

Just a thought.  I don't see any reason why this would not work?

I have a Cheque book for the current account linked my M saver so I suppose I could write a cheque out to myself and go and pay it in my other high streeet bank for any big balance.  Any one know if this would work?

I suppose it depends on how long it would take the cheque to clear and how much of a hurry you are in to get the funds transferred.

Aidanmc

Did everyone who requested Shawbrook to move their account to issue 29 receive a response?

Sent request twice since monday and haven't got back to me. I can't see how i can open a new account myself as an existing customer?