Virgin Money Current Account

wiseonesomeofthetime

On each application, they ask the purpose for which you wish to open the account. I have used all three choices now.

Not going to bother trying for a fourth. I have enough of their cards now

colsten

wiseonesomeofthetime said:

On each application, they ask the purpose for which you wish to open the account. I have used all three choices now.

I have always been dead honest and selected 'Savings'.

veryintrigued

colsten said:

wiseonesomeofthetime said:

On each application, they ask the purpose for which you wish to open the account. I have used all three choices now.

I have always been dead honest and selected 'Savings'.

I'm beginning to forget what I've used!

Alexland

veryintrigued said:

For those of you unfamiliar with this product your monthly interest will already be there.

Thanks almost forgot maybe I should setup a £1.53 standing order on each account...

AbundantBudget

Alexland said:

veryintrigued said:

For those of you unfamiliar with this product your monthly interest will already be there.

Thanks almost forgot maybe I should setup a £1.53 standing order on each account...

This month is only 28 days, next month will be more than £1.53, then April will be less than March. Isn't it easier to move every month manually as the amounts will vary?

Alexland

AbundantBudget said:

This month is only 28 days, next month will be more than £1.53, then April will be less than March. Isn't it easier to move every month manually as the amounts will vary?

It was £1.53 for the past 2 months so the late March payment should be less as it is missing the final days that don't exist this month. If the account balance gradually falls a few pennies below £1k then it might not make any difference to the interest payment.

RG2015

Alexland said:

AbundantBudget said:

This month is only 28 days, next month will be more than £1.53, then April will be less than March. Isn't it easier to move every month manually as the amounts will vary?

It was £1.53 for the past 2 months so the late March payment should be less as it is missing the final days that don't exist this month. If the account balance gradually falls a few pennies below £1k then it might not make any difference to the interest payment.

I cannot believe that I am posting over a difference of 17p, but I got £1.70 on 31st January and am expecting £1.70 on 31st March and £1.64 on 30th April,

Alexland

RG2015 said:

I cannot believe that I am posting over a difference of 17p, but I got £1.70 on 31st January and am expecting £1.70 on 31st March and £1.64 on 30th April,

How interesting - did you get £1.53 on this month's payment?

RG2015

Alexland said:

RG2015 said:

I cannot believe that I am posting over a difference of 17p, but I got £1.70 on 31st January and am expecting £1.70 on 31st March and £1.64 on 30th April,

How interesting - did you get £1.53 on this month's payment?

Yes, £1,000 x 2% = £20 p.a. which is £0.0548 per day. Hence £1.53 for 28 days, £1.64 for 30 days and £1.70 for 31 days..

Alexland

I understood that VM calculated the interest up to the 26th of each month so this month's payment should be the same as last month because both previous months had 31 days? My January payment was also £1.53 although the account history is a bit messy as I was doing extra transactions for the switch offer but I don't think it went below £1k.