Virgin Money Regular Saver Thread

Every_Penny_Counts

I took a gamble & made an appointment for the 1st Oct when I was there opening issue 18 in August. I also have one booked for Dec just in case....

Speculator

I received a letter regarding maturity of issue 14 on the 20th of January. Don't really want my money sitting in an account paying only 0.5% until my next visit to London at the end on January.

Therefore, I will probably close the account on maturity by post.

Just wondering, is it cheque withdrawals only by post or can I ask them to do a Faster/BACS Payment to my bank account?

Thanks in advance.

karlie88

Speculator wrote: »

I received a letter regarding maturity of issue 14 on the 20th of January. Don't really want my money sitting in an account paying only 0.5% until my next visit to London at the end on January.

Therefore, I will probably close the account on maturity by post.

Just wondering, is it cheque withdrawals only by post or can I ask them to do a Faster/BACS Payment to my bank account?

Thanks in advance.

You can ask for faster payment.

If you phone HO or a branch then they can send out pre-paid envelopes along with transaction forms. I've also been told you can write down your instructions on a blank piece of paper and send that off.

I'm a stingy booger - I have to get the pre-paid envelopes so I ask for the transaction form anyway.

pafpcg

karlie88 wrote: »

If you phone HO or a branch then they can send out pre-paid envelopes along with transaction forms. I've also been told you can write down your instructions on a blank piece of paper and send that off.

I'm a stingy booger - I have to get the pre-paid envelopes so I ask for the transaction form anyway.

What? To save you the cost of a blank piece of paper? Now, that's stingy!

Speculator

karlie88 wrote: »

You can ask for faster payment.

If you phone HO or a branch then they can send out pre-paid envelopes along with transaction forms. I've also been told you can write down your instructions on a blank piece of paper and send that off.

I'm a stingy booger - I have to get the pre-paid envelopes so I ask for the transaction form anyway.

Thanks. I will send them a letter.

Still paying 36p for 2nd and 46p for 1st class postage because bought about £700 worth in 2012 before the rise from 36p to 50p and 46p to 60p.

bubieyehyeh

The RS14 matures on 20th, I know I can close anytime, but is it better to wait till 21st to close it, the last issue I went into branch on maturity date, and they acted like why you want to close today, but they did close it. What is the interest rate on 20th if you leave it untouched till 21st?

schiff

bubieyehyeh wrote: »

The RS14 matures on 20th, I know I can close anytime, but is it better to wait till 21st to close it, the last issue I went into branch on maturity date, and they acted like why you want to close today, but they did close it. What is the interest rate on 20th if you leave it untouched till 21st?

If you are transferring the proceeds to an account paying more than the 0.50% interest rate Virgin pays on the Easy Access Saver Reward Issue 22 to which they will transfer it with no action by you, then withdraw on the 20th.

Vortigern

bubieyehyeh wrote: »

The RS14 matures on 20th, I know I can close anytime, but is it better to wait till 21st to close it, the last issue I went into branch on maturity date, and they acted like why you want to close today, but they did close it. What is the interest rate on 20th if you leave it untouched till 21st?

If you've been contributing the maximum amount at the earliest opportunity you'll have about £3541 in the account.

• At 3% (until maturity) it earns 29p per day interest.
• At 0.5% (after maturity) it will earn 5p per day.
• If you transfer to an account earning 1.5% it will earn 15p per day.

Now do the maths and decide whether it's worthwhile for you to make a special trip to the branch on maturity day.

bubieyehyeh

Vortigern wrote: »

If you've been contributing the maximum amount at the earliest opportunity you'll have about £3541 in the account.

• At 3% (until maturity) it earns 29p per day interest.
• At 0.5% (after maturity) it will earn 5p per day.
• If you transfer to an account earning 1.5% it will earn 15p per day.

Now do the maths and decide whether it's worthwhile for you to make a special trip to the branch on maturity day.

I can do the maths, what I didn't know is what the interest rate is on the last day if I closed on 21st, 3% or 0.5%. I can go on 20th or 21st when I pass by.

SuperHans1

I see issue 14 has finally been released. However at 2% it's not much to get excited about.