Virgin Money Current Account

BigBlueSky

Herbalus said:

I did it through the sign up process and simply set my switch date as 27 November which is 2 weeks away. Should be enough time to get the direct debits showing on TSB. 

I'm waiting for my new direct debits to be set up on TSB - Hoping it won't take long, but I've never had DD's on my TSB account before.  I'm tempted to wait for them to show before signing up and will start the switch date as early as possible at that time.

SandyN21

BigBlueSky said:

SandyN21 said:

It doesn't require you to set up direct debits... that's the reason I opened my VM account as I still want to keep my Barclay's account.

Terms & Conditions

• Transfer at least two Direct Debits to your new account, and don’t cancel them before we send your offer code.

Isn't this for if you're switching to VM which I'm not... I've just opened an account with them as I'm happy with my Barclays current account.

BigBlueSky

SandyN21 said:

BigBlueSky said:Terms & Conditions

• Transfer at least two Direct Debits to your new account, and don’t cancel them before we send your offer code.

Isn't this for if you're switching to VM which I'm not... I've just opened an account with them as I'm happy with my Barclays current account.

Yes.  This is to receive the welcome gift (from Virgin Wines) for switching.

If you don't want a welcome gift there is no requirement.

SandyN21

BigBlueSky said:

alandaniel132 said:

Can I setup a 2 new DD once I open VM current account? Or need to be transfer?

It states:

"Transfer at least two direct debits to your new account. You can’t cancel them before we send your Virgin Wines offer code."

And this I think is only applicable if you're switching to VM and not just opening a new account with them.….is that right?

colsten

pfpf said:

i have just setup 2 DD's on my donor account which will take a few days to appear. is it easy enough having opened a VM account to instigate the switch or is it better to do the switch during the signup? 
i'd like to get the account opening process started ASAP so i don't miss out.
thank you.

I would say you will have to request the switch during the application, as otherwise you would count as an existing account holder and not qualify for the case of wine. You can set the switch date to a future date, though.

I would also definitely wait until the DDs show on your to-be-switched account. With some banks, they only show once they have been paid for the first time.

BigBlueSky

Just had my DD's show up on my account to be switched so have gone ahead and applied online, only to get the message:

We need more time to look at your application

A team member needs to go over your application in more detail. We will do this within two business days and you will be notified by email or text with a link to log in and see the decision.

pfpf

colsten said:

pfpf said:

i have just setup 2 DD's on my donor account which will take a few days to appear. is it easy enough having opened a VM account to instigate the switch or is it better to do the switch during the signup? 
i'd like to get the account opening process started ASAP so i don't miss out.
thank you.

I would also definitely wait until the DDs show on your to-be-switched account. With some banks, they only show once they have been paid for the first time.

this is exactly my concern and experience. thank you.

quirkydeptless

I have added 2 DDs to my donor account which will become active on 27th Nov. I think I will wait until then before applying for the Virgin account and ask for the switch as part of that process. Hopefully that will allow enough time to get the offer.

colsten

quirkydeptless said:

I have added 2 DDs to my donor account which will become active on 27th Nov. I think I will wait until then before applying for the Virgin account and ask for the switch as part of that process. Hopefully that will allow enough time to get the offer.

I read somewhere that Virgin Money plan to keep the offer as a permanent feature. So there's no extreme urgency. And you have to request the switch as part of the application, as otherwise you'd be an existing customer and not eligible for the plonk. Sit tight.

SlovakianGuy

Hmm, I've got 10 current accounts so it would be easy to switch one of them but... After reading so many negative posts about Virgin I can't decide whether it's worth it or not.

One question for those who already have an account with them:
If you're a current account customer and you later apply for an overdraft or a  credit card with them, will they hard-search you again? Because Halifax will not. Obviously some banks don't hard-search you on every occasion if you've been with them for a while and they already know you.  How it works with Virgin?