Virgin Money Current Account

quirkydeptless

:think: ... looks for switching bonus ... :undecided ... nope ... :doh:

MovingForwards

SnowTiger wrote: »

Virgin's new account appears to be a relaunch of Clydesdale Bank's B account.

I have a Virgin Essentials account. Online features are extremely limited. And to open it I had to sit through an interview that lasted for over an hour at one of Virgin's Money Stores.

You were possibly unlucky as mine took about 15 minutes.

[Deleted User]

MovingForwards wrote: »

Its been around for a few years.

Still can't do online banking eg set up standing orders, transfer money etc, it all has to be done by phone or in a branch; I'd hoped they would have sorted it by now.

No, this is their new Current Account.

You can do all this and more in the App:
https://uk.virginmoney.com/current-accounts/pca/app-features

Ergates

xlnc99 wrote: »

oh really, i assumed it was the other way round due to the name change of Virgin. Strange one that

I guess they figured that Virgin was a stronger brand.

18cc

Not sure if this is a new feature but it sounds quite useful:

"Virgin also says its new bank account has a feature which will work out when your account is running low and automatically sweep money from the easy-access account into your bank account to stop you incurring any charges."

You can also pay in cheques using the camera phone

https://www.dailymail.co.uk/money/saving/article-7785633/Virgin-Money-launches-digital-current-account-takes-big-banks.html

MDMD

xlnc99 wrote: »

oh really, i assumed it was the other way round due to the name change of Virgin. Strange one that

Nope definitely CYBG buying VM

https://www.morningstar.co.uk/uk/news/AN_1571645978595909300/cybg-to-change-name-to-virgin-money-uk-as-it-starts-rebranding-process.aspx

The name is largely meaningless, it’s just a brand that they licensed from Branson.

System

Ergates wrote: »

I guess they figured that Virgin was a stronger brand.

It's now just a trading name of Clydesdale Bank - I guess it means they can ditch the dual Clydesdale/Yorkshire branding too.

The essential current account will be migrated to the rebranded B product in due course. The only part of the old Virgin Money they are retaining is the credit card platform.

Eco_Miser

Ergates wrote: »

Clydesdale bought Virgin, but otherwise yeah.

xlnc99 wrote: »

oh really, i assumed it was the other way round due to the name change of Virgin. Strange one that

MDMD wrote: »

Nope definitely CYBG buying VM

https://www.morningstar.co.uk/uk/news/AN_1571645978595909300/cybg-to-change-name-to-virgin-money-uk-as-it-starts-rebranding-process.aspx

The name is largely meaningless, it’s just a brand that they licensed from Branson.

It's what is known as a reverse takeover. CYGB bought Virgin Money, but paid for it with CYGB shares, meaning the original VM shareholders now own 38% of the merged group. Then everything gets changed to Virgin Money, starting with the holding company.

badger09

Frogletina wrote: »

I've still got the Yorkshire Direct account which pays 1.5% on up to £3000, but is no longer on sale. I expect it will soon be closed.

Terms say that you have to pay in £1000 a month to get interest, but I'm still getting interest, despite not paying £1000 a month for over 2 years.

I started this year with £5.12 in the account and it's increasing by a penny a month :rotfl:

I switched mine a while ago, when 1.5% current accounts were widely available & in an attempt to ‘cull’ and ‘tidy up’. Little did I know😊

satan666wayne

Overseas fees 3.75% of transaction value for cash. 2.75 for online overseas based companies even if paid in GBP.