Virgin Money Regular Saver Thread

Gers

badger09 said:

SFindlay said:

Even more bad news, online issue 17 released today but only paying 1%!! 

Thanks for that.

That's an offer I can refuse.

Me too - very disappointing though not unexpected.

Nessie23

wozza2k said:

pafpcg said:

wozza2k said:

schiff said:

"No more than 14 days before maturity we will send you a maturity pack through the post. This will detail all of your reinvestment options and the products available to you in relation to your account maturity, as well as all of your withdrawal options.

Once you have decided what you would like to do you just have to complete the form, pop it in the pre-paid envelope provided and send that back to us, we then do the rest."

I've made it into a formal complaint. In the meantime would someone provide the link to printing off the withdrawal form to an outside account please. I had to do it for Issue 16 but can't find the how to now. TIA

I just called up quoting this and they're saying these terms are for a bond/ISA and for regular saver the terms are different (going to dig them out later).  Such a pain to have to post a letter as I need to get some stamps and envelopes now!

Didn't you keep the Reply-Paid envelope that came with the account-opened confirmation paperwork twelve months ago?  You can use that envelope and write in: "Savings Operations".  It worked for me!

PS:  Requesting the same maturity instructions for all the outstanding issues of the regular savers - wouldn't you have to send all the passbooks with that request?

I opened it in branch and didn't get those envelopes?  

Hi, I’ve just been on the phone to VM. You can use a pre-paid envelope which is addressed to the new accounts team with a letter or maturity form, this will get redirected to the team dealing with maturing accounts. My plan: Open a Regular Saver issue 17 and just pay the minimum Amount in, but keep it as an option. As some have already said In a few months time 1% fixed might be good rate (there’s even talk of negative interest in some places), in the meantime use the free envelope :-)

Nessie23

SuperHans1 said:

When issue 16 matured, I wrote to Virgin asking for a BACS transfer. I also asked them to do the same for issues 17, 18 and 19 upon maturity which they have accepted.

That’s interesting I got told I had to send the passbook for each maturing account. They mentioned I could send all the maturity instructions and passbooks at once but they recommended against it as the passbooks would have to be kept lying around for a few months.

MDMD

There’s also a free post address on their Current Account change of address and payment request forms:

Freepost Virgin Money,
Current Accounts,
NEA 3780,
Newcastle Upon Tyne NE3 4ZE

https://uk.virginmoney.com/virgin/downloads/current-account-faster-payment-form.pdf

https://uk.virginmoney.com/virgin/assets/pdf/current_account_change_of_address_confirmation2.pdf

i will just replace Current Accounts with Savings Operations 

bubieyehyeh

Anyone in need of envelopes. I recently sent a message via virgin money online saving website, asking if they could sent me three withdrawl forms and three envelopes for my branch accounts, and they arrived in the post about a week later (envelopes received were freepost 1st class)

Wheres_My_Cashback

SFindlay said:

Even more bad news, online issue 17 released today but only paying 1%!! 

Quite possibly the end of the Virgin Regular Saver....for now, unless rates elsewhere change elsewhere,but even if AlRayan drop again I doubt it will be as low as 1%.
Hopefully they'll notice a lack of take-up on this and possibly rethink issue 18.

Over62

veggieblob said:

I've received my notification about my in store regular saver 17 maturing and they say that they will put the balance in a reward saver at 0.75%.  Obviously this is not the best rate of interest but has anyone gone down this route before?  If so, is the new account an online one where I can transfer monies out as I want.  

No, it's not an online account so I'm not really interested.  I will take my passbook and ID (passport and driving licence) to the store on 1 July and arrange a transfer of funds to my main bank.   My local Virgin store said no appointment is needed.

schiff

I'm looking at this from a different angle. One of the beauties (if I may call it that) of the Virgin 17, is the fact that the rate is fixed. Most if not all of the current accounts are variable. I've got £12K coming from regular savers maturing next month and £16K in September. I've not fully researched this yet but some of them (Yorkshire BS, Nottingham BS) don't have a replacement. The destination for me is currently Marcus but how long will their 1.05% last? What will it be in December, April next year? I'm not much interested in the funny banks and I'm put off the Post Office with the stories I read. I don't want complication.
I think regular savers, particularly the fixed rate versions, are the way to go for surplus, hanging around money. The collapse in interest rates has been understandable but astonishing in its severity. 12/18 months ago I decided not to bother with regular savers paying less than 2.5%. Quickly changed my tune when rates started being cut and I opened a handful of 2% Fixed. Then another change of tune with Virgil's last and Principality at 1.5%. And I'm going for Virgin 17. We need to make hay!

polymaff

schiff said:

The interest rate is fixed - in 2021 that could be amongst the best for savings

schiff said again:

I'm looking at this from a different angle ...  the fact that the rate is fixed.

OK, OK - We've got it ... 

schiff

polymaff said:

schiff said:

The interest rate is fixed - in 2021 that could be amongst the best for savings

schiff said again:

I'm looking at this fro m a different angle ...  the fact that the rate is fixed.

OK, OK - We've got it ... 

If I had a pound for every time I've repeated myself I would be very rich!
If I had a pound.......................