Virgin Money Current Account

RG2015

Not sure VM would be concerned that funding was from savings rather than income. After all it is just a one off £1,000 for each account. A greater concern would be that they limited the number of accounts. It still surprises me that they allow more than one per customer.

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..