Virgin Money Current Account

[Deleted User]

where_are_we said:

mummyof5 said:

RG2015 said:

The Virgin Money current account is now offering 2.02% AER, 2.00% gross on up to £1,000.

https://uk.virginmoney.com/current-accounts/

I opened one of these yesterday. 

The easiest account opening I’ve ever had !

Is there any downside to my OH and myself opening one each and using it as a savings account with £1000 permanently in it. We already have Virginmoney accounts so opening them won`t be too onerous and there are no fees. I know the rate is variable and it is probably not worth waiting for a switch bonus.

I can’t see what you’ve got to lose. If the rate drops you can always move your money. That’s my thinking anyway. I also couldn’t find any conditions. 

RG2015

Ken68 said:

Tempted.....

I was for about 10 minutes until I calculated that the maximum interest earning balance of £1,000 would yield £20 per annum. That amount in a Marcus savings account would earn £12. 

colsten

dcs34 said:

Might be missing a trick but I can't see anywhere on VB website how much notice they have to give of rate changes

2 months


https://uk.virginmoney.com/virgin/assets/pdf/Virgin-Money-Current-Account-Terms.pdf

surreysaver

Well, its another foot in the door. Probably won't be entitled to any switching bonus as I had the Clydesdale one a couple of years ago 

where_are_we

"The easiest account opening I’ve ever had !" - Not for me! At the end of the application page they say something like "it looks like you have been a customer of Virginmoney,B,Clydesdale or Yorkshire Bank" and asks you to ring 08006783654. I phone up and tell them I had a "B" current account but it is now closed. After asking for my details he gives me a 10 digit customer number and tells me to go on the www.youandb.co.uk website and apply for the virginmoney current account there. I am then asked for my "B" account password which I have not kept a record of. They are also not doing phone applications now because of the virus. "You win some , you lose some"! I`m off into the garden to do some pruning!

schiff

That has just happened to me but slightly differently. I logged on (as I have Virgin regular savers) as usual, went straight to the link for the CA on the opening page and then had to enter every tiny detail about me as if I was a stranger to them. Continued to the end then got the 'Hmm. You look familiar' bit. Continued. Entered my normal log-in name but my password is only 8 digits long and they persisted in asking for the 9th. I was then offered another way in by logging in with my Virgin CC details. Tried this and they still didn't recognise me! 
I can't believe how I missed this account and it is good enough to persist twice to get through to them, all to no avail. I would just stick £1000 in but not use it, treating it as a savings account.  
I've never had an account with Clydesdale.

colsten

schiff said:

....... Entered my normal log-in name but my password is only 8 digits long and they persisted in asking for the 9th. ........

Similar happened to me when I used the username I had specified in the application. They wanted the 12th digit of my 9 digit password 🤣

I then used the new customer number they had assigned to me instead of the username, and was able to log in fine.

colsten

schiff said:

I've never had an account with Clydesdale.

Did you have a Yorkshire Bank one?

quirkydeptless

I'm not opening this one unless there is a switching offer. I accept that this may never occur, but it's only around a couple of quid  year better than keeping the £1000 in one of my Easy Access accounts, so that's my gamble

creditavenger

Does anyone know if it is possible to open more than one VM current account in your sole name, or indeed more than one VM joint current account (with the same person)? I had a quick look but couldn't find anything on their website about it.