Virgin Money Current Account

clive0510

the current account interest  £1.66 pcm.
savings account interest .42p pcm. 
these rates variable.

williewonder

clive0510 said:

the current account interest  £1.66 pcm.
savings account interest .42p pcm. 
these rates variable.

Thank you Clive0510.

xlnc99

has anyone had any luck applying for an OD?

I did one and they dont give an answer. They respond within 3 days.

This is what i mean by virgin having poor infrastructure. Miles behind.

williewonder

xlnc99 said:

has anyone had any luck applying for an OD?

I did one and they dont give an answer. They respond within 3 days.

This is what i mean by virgin having poor infrastructure. Miles behind.

I was hoping that on their app I could apply. With my Nationwide account the option for an overdraft just appeared in their app. I was hoping for the same with Virgin but it does seem a kerfuffle with them. 

colsten

williewonder said:

xlnc99 said:

has anyone had any luck applying for an OD?

I did one and they dont give an answer. They respond within 3 days.

This is what i mean by virgin having poor infrastructure. Miles behind.

I was hoping that on their app I could apply. With my Nationwide account the option for an overdraft just appeared in their app. I was hoping for the same with Virgin but it does seem a kerfuffle with them. 

Given that overdrafts are now one of the most expensive ways of borrowing money, I think it's actually very good that Virgin Money aren't offering them on a plate.

Although it is still quite easy to apply for an overdraft with them if you truly need money. https://uk.virginmoney.com/overdraft-request/. Much better to shop around for a loan, though https://moneyfacts.co.uk/loans/

topcat105

clive0510 said:

I transferred my current account to virgin from tsb,mainly because tsb stopped paying me interest on the balance. virgin give me 2.2% on the 1st 1k. and I've also got a case of wine on its way. so for me is actually a no brainer. the savings account is handy. I shall probably leave 2k in there as an emergency fund. job done.

As long as your emergency is a couple of hundred pounds you will be ok.
Try to withdraw more than this and your account will be locked.

MDMD

topcat105 said:

clive0510 said:

I transferred my current account to virgin from tsb,mainly because tsb stopped paying me interest on the balance. virgin give me 2.2% on the 1st 1k. and I've also got a case of wine on its way. so for me is actually a no brainer. the savings account is handy. I shall probably leave 2k in there as an emergency fund. job done.

As long as your emergency is a couple of hundred pounds you will be ok.
Try to withdraw more than this and your account will be locked.

I’ve just moved £4000 out to somewhere else and it went through straight away.

topcat105

MDMD said:

topcat105 said:

clive0510 said:

I transferred my current account to virgin from tsb,mainly because tsb stopped paying me interest on the balance. virgin give me 2.2% on the 1st 1k. and I've also got a case of wine on its way. so for me is actually a no brainer. the savings account is handy. I shall probably leave 2k in there as an emergency fund. job done.

As long as your emergency is a couple of hundred pounds you will be ok.
Try to withdraw more than this and your account will be locked.

I’ve just moved £4000 out to somewhere else and it went through straight away.

Then you've been lucky.
I'm still waiting for my money from 10 days ago.
Account locked, no call backs, nothing.
And going by the reviews on Trust Pilot this happens a lot.

MDMD

topcat105 said:

MDMD said:

topcat105 said:

clive0510 said:

I transferred my current account to virgin from tsb,mainly because tsb stopped paying me interest on the balance. virgin give me 2.2% on the 1st 1k. and I've also got a case of wine on its way. so for me is actually a no brainer. the savings account is handy. I shall probably leave 2k in there as an emergency fund. job done.

As long as your emergency is a couple of hundred pounds you will be ok.
Try to withdraw more than this and your account will be locked.

I’ve just moved £4000 out to somewhere else and it went through straight away.

Then you've been lucky.
I'm still waiting for my money from 10 days ago.
Account locked, no call backs, nothing.
And going by the reviews on Trust Pilot this happens a lot.

Have you logged a formal complaint (not just speaking to Customer Services) about both the locking of the accounts and the subsequent lack of callbacks? 

Even better if you can get them logged as two separate ones as it will form part of their FCA reporting and hopefully encourage them to sort it out and settle with you within three days.

https://uk.virginmoney.com/virgin/internal-complaints/

topcat105

MDMD said:

topcat105 said:

MDMD said:

topcat105 said:

clive0510 said:

I transferred my current account to virgin from tsb,mainly because tsb stopped paying me interest on the balance. virgin give me 2.2% on the 1st 1k. and I've also got a case of wine on its way. so for me is actually a no brainer. the savings account is handy. I shall probably leave 2k in there as an emergency fund. job done.

As long as your emergency is a couple of hundred pounds you will be ok.
Try to withdraw more than this and your account will be locked.

I’ve just moved £4000 out to somewhere else and it went through straight away.

Then you've been lucky.
I'm still waiting for my money from 10 days ago.
Account locked, no call backs, nothing.
And going by the reviews on Trust Pilot this happens a lot.

Have you logged a formal complaint (not just speaking to Customer Services) about both the locking of the accounts and the subsequent lack of callbacks? 

Even better if you can get them logged as two separate ones as it will form part of their FCA reporting and hopefully encourage them to sort it out and settle with you within three days.

https://uk.virginmoney.com/virgin/internal-complaints/

I've logged 2 complaints now and even emailed David Duffy the CEO.
I just get the same response -

"I am sorry for the problems you have experienced recently. Please be assured, we are in the process of investigating this matter for you and we will be in touch as soon as we have an update.

In the meantime, if you need anything, please do not hesitate to contact me."