Virgin Money Regular Saver Thread

schiff

eddie7612 said:

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

It will go into the same Easy Access e-saver as the proceeds from the maturing RS16 on May 1st and depending how long you leave it there it could gain you an extra penny or two.

vermania

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?

I have posted the passbook twice in the past, but I have the same concerns that you're almost in effect putting £3k into the general post. I have done it this time as there is no other option, other than to wait, with a terrible interim interest rate.

For the two previous times I had put the full withdrawal instructions (i.e. the bank account number to send it to) on the covering letter. This time, I wrote that I would advise of the bank account number in a secure message on the Virgin Money website. I expect the letter arrived today, but the message has already been replied to. Their reply was that "this secure message service is for customers to service their online accounts not branch/postal accounts, but we'll help you this time", and went on to say "we can only act on instructions where a customer's signature is present", so I will have to wait for them to receive the (signed) letter before I know they will do anything.

It is a bit disappointing that (a) as others have said, they are hardly accounting for the fact many of us can't get to a branch during COVID-19 lockdown - my nearest is over 20 miles away, and (b) the segregation between branch and online is so pronounced that a secure message is not a legitimate form of contact to deal with a non-online account.

sunshineheart

I contacted virgin money by secure message on the day I received the letter for the branch saver.  I requested maturity forms and envelopes be posted to me and they arrived this morning.  Pretty happy with that.

Elvie100

Just received a letter apologising for not including the Key Product Information for the Easy Access Saver Reward Issue 24 and the sheet itself following Branch RS 16 maturity. Hopefully my withdrawal instructions are already with them though!

abz88

sunshineheart said:

I contacted virgin money by secure message on the day I received the letter for the branch saver.  I requested maturity forms and envelopes be posted to me and they arrived this morning.  Pretty happy with that.

I contacted them last week, stating that I was disappointed they had not taken any steps to make the process of receiving maturing funds any easier in the current pandemic and instead wanted me to go to branch and risk their employees health. They apologised and told me they would send out the maturity forms and pre-paid envelopes but nothing has ever appeared. 

SuperHans1

abz88 said:

I contacted them last week, stating that I was disappointed they had not taken any steps to make the process of receiving maturing funds any easier in the current pandemic and instead wanted me to go to branch and risk their employees health. They apologised and told me they would send out the maturity forms and pre-paid envelopes but nothing has ever appeared. 

I spoke to Virgin yesterday and they said that they are seeing a lot of issues with the Royal Mail. My maturity instructions that I sent first class had not reached them even after 5 days and so you may not have received a reply from them for the same reason.

schiff

That smells a bit like a pre-prepared excuse. There'll be a flood of comment on here tomorrow!

SuperHans1

schiff said:

That smells a bit like a pre-prepared excuse. There'll be a flood of comment on here tomorrow!

I was inclined to believe them given that Royal Mail are removing Saturday deliveries and reducing mail delivery guarantees. Of course the problem could be in Virgin's own post room....

Speculator

Received new letter from Virgin. Still no mention that you can transfer to external account.

schiff

Speculator said:

Received new letter from Virgin. Still no mention that you can transfer to external account.

This is what is amazing - no suggestion of moving it out of Virgin. When other RSs mature there is always that opportunity in the 'approaching maturity' letter.