Virgin Money Regular Saver Thread

Speculator

Virgin (former Saffron BS manageress) sent me a stamped address envelope for the St Albans branch where I opened the account.  She asked me not to post until maturity which probably means the branch are processing the closure.
 I remember a member of staff at the Haymarket branch telling me that I could not leave my passbook with them 1 week before maturity because they are not allowed to keep passbooks for that length of time.

schiff

Eco_Miser said:

So is everyone happy at just dropping a passbook evidencing over £3k plus withdrawal instructions within a freepost envelope (or indeed an envelope with a first class stamp) into a postbox?   What happens if it never arrives at Head Office?

We've no option but to trust Royal Mail. I posted mine at a PO as an added protective measure. Virgin could always lose it though!

schiff

As with Monmouth last week.

Eco_Miser

schiff said:

Eco_Miser said:

So is everyone happy at just dropping a passbook evidencing over £3k plus withdrawal instructions within a freepost envelope (or indeed an envelope with a first class stamp) into a postbox?   What happens if it never arrives at Head Office?

We've no option but to trust Royal Mail. I posted mine at a PO as an added protective measure. Virgin could always lose it though!

While we  have to trust Royal Mail, we could use a tracked and/or insured service of theirs.
Yes, this is stir-crazy paranoia kicking in

Elvie100

Isaac_:) said:

Elvie100 said:

I have always closed mine by post (4) to the address above with a signed letter of my instructions.  I have never sent the passbook.  I am just thinking perhaps I should this time.  I did ring up and ask for envelopes before the last one because they have never supplied them with the maturity instructions.

That's good to hear. I've got an account maturing soon, and I won't be able to send them my passbook as I've moved back in with my mum and dad for the foreseeable, and forgot to bring the passbook with me. I spoke to someone from Virgin on the web chat and she said I'd need to send it along with the withdrawal request, but I'll give it a try without the passbook if you've not needed it in the past.

I have not in the past, but decided to this time.  When I called them before the first time, they said I could send it and they would send it back.  Seemed on odd non-answer, it wasn’t a ‘yes you have to’. Hope it works out for you.

pearl123

I had a 2% regular saving with Virgin, but moment Richard Branson starting requesting a bailout for Virgin Airways I closed the account down. Maybe, I was a bit hasty, as there not a lot of good savings accounts around. 

Speculator

pearl123 said:

I had a 2% regular saving with Virgin, but moment Richard Branson starting requesting a bailout for Virgin Airways I closed the account down. Maybe, I was a bit hasty, as there not a lot of good savings ac

Virgin money is part of Clydesdale/Yorkshire bank.

typistretired

The owner of Clydesdale Bank and Yorkshire Bank, CYBG,  agreed to buy Virgin Money for £1.7bn in June 2018.

CYBG said it had agreed with Sir Richard Branson's Virgin Group to license the Virgin Money brand for £12m a year, rising to £15m later.

Virgin Group is Virgin Money's biggest shareholder with a 34.8% stake in the business.

He receives these licencing fees off all the companies using the Virgin name.

eddie7612

Does the Virgin RS16 still earn 3% on the 1st of May or is the 30th April the last day of 3% - is it worth me making a final payment into the account on the 1st? Thanks

20SmthngSver

Eco_Miser said:

So is everyone happy at just dropping a passbook evidencing over £3k plus withdrawal instructions within a freepost envelope (or indeed an envelope with a first class stamp) into a postbox?   What happens if it never arrives at Head Office?

Yep, often did postal cheque deposits. What could someone do? Passbook in my name and address, with UV signature. Cheque signature matches the passbook and written to me.

Also did a few closures and withdrawals, payable to me. With a covering letter confirming all details. Never ever had an issue or not received.