Virgin Money Current Account

colsten

ZeroSum said:

colsten said:

ZeroSum said:

colsten said:

ZeroSum said:

Bobblehat said:

ZeroSum said:

I thought you had to keep £1k in the savings account for a month?

Opened account on 20th dec. Wine came today

I can see why you thought you might have to keep the £1000 in the savings account for a month .... but if you read the T&C's carefully, you can withdraw the £1000 once you have the wine code ... I waited until the wine actually arrived (today  )  before moving the £1000 out to a better interest rate account.

The savings rate is 0.5% isnt it?
Which is pretty much top of the market

Not as top as 2%, or 1.75%, 1.5%, or even just 1%, all of which are still available to new applicants. Additionally, many people will still have legacy instant access accounts paying up to 1.2%.

Excluding current accounts with limits & reg savers, what are these accounts?

Why would current accounts, reg savers, and legacy savings accounts not be suitable places to keep £1,000 in?

Because they've already been utilised

WOW. You must either be swimming in money then as there's literally dozens of them to open, or you are not adventurous.

gwapenut

colsten said:

ZeroSum said:

colsten said:

ZeroSum said:

colsten said:

ZeroSum said:

Bobblehat said:

ZeroSum said:

I thought you had to keep £1k in the savings account for a month?

Opened account on 20th dec. Wine came today

I can see why you thought you might have to keep the £1000 in the savings account for a month .... but if you read the T&C's carefully, you can withdraw the £1000 once you have the wine code ... I waited until the wine actually arrived (today  )  before moving the £1000 out to a better interest rate account.

The savings rate is 0.5% isnt it?
Which is pretty much top of the market

Not as top as 2%, or 1.75%, 1.5%, or even just 1%, all of which are still available to new applicants. Additionally, many people will still have legacy instant access accounts paying up to 1.2%.

Excluding current accounts with limits & reg savers, what are these accounts?

Why would current accounts, reg savers, and legacy savings accounts not be suitable places to keep £1,000 in?

Because they've already been utilised

WOW. You must either be swimming in money then as there's literally dozens of them to open, or you are not adventurous.

Or can get far better returns on his or her time for the meagre results.

colsten

gwapenut said:

colsten said:

ZeroSum said:

colsten said:

ZeroSum said:

colsten said:

ZeroSum said:

Bobblehat said:

ZeroSum said:

I thought you had to keep £1k in the savings account for a month?

Opened account on 20th dec. Wine came today

I can see why you thought you might have to keep the £1000 in the savings account for a month .... but if you read the T&C's carefully, you can withdraw the £1000 once you have the wine code ... I waited until the wine actually arrived (today  )  before moving the £1000 out to a better interest rate account.

The savings rate is 0.5% isnt it?
Which is pretty much top of the market

Not as top as 2%, or 1.75%, 1.5%, or even just 1%, all of which are still available to new applicants. Additionally, many people will still have legacy instant access accounts paying up to 1.2%.

Excluding current accounts with limits & reg savers, what are these accounts?

Why would current accounts, reg savers, and legacy savings accounts not be suitable places to keep £1,000 in?

Because they've already been utilised

WOW. You must either be swimming in money then as there's literally dozens of them to open, or you are not adventurous.

Or can get far better returns on his or her time for the meagre results.

That‘s clearly an option in the ‘adventurous’ category. Albeit an unlikely one for anyone who considers 0.5% “pretty much top of the market”

hgt

Question to those of you who have received the wind code and ordered your wine.... When you order the wine, can you specify any address or is the code linked to the address on file with Virgin Money? Just wondering if I could gift the wine to my parents who would appreciate it more than me. Many thanks. 

gwapenut

hgt said:

Question to those of you who have received the wind code and ordered your wine.... When you order the wine, can you specify any address or is the code linked to the address on file with Virgin Money? Just wondering if I could gift the wine to my parents who would appreciate it more than me. Many thanks. 

You can send it to any address, but you can't ask then to gift wrap it

ZeroSum

colsten said:

ZeroSum said:

colsten said:

ZeroSum said:

colsten said:

ZeroSum said:

Bobblehat said:

ZeroSum said:

I thought you had to keep £1k in the savings account for a month?

Opened account on 20th dec. Wine came today

I can see why you thought you might have to keep the £1000 in the savings account for a month .... but if you read the T&C's carefully, you can withdraw the £1000 once you have the wine code ... I waited until the wine actually arrived (today  )  before moving the £1000 out to a better interest rate account.

The savings rate is 0.5% isnt it?
Which is pretty much top of the market

Not as top as 2%, or 1.75%, 1.5%, or even just 1%, all of which are still available to new applicants. Additionally, many people will still have legacy instant access accounts paying up to 1.2%.

Excluding current accounts with limits & reg savers, what are these accounts?

Why would current accounts, reg savers, and legacy savings accounts not be suitable places to keep £1,000 in?

Because they've already been utilised

WOW. You must either be swimming in money then as there's literally dozens of them to open, or you are not adventurous.

Reg savers I'm not including as most arent instant access, also cause cashflow issues etc. Its not worth it for an additional 0.5%
I've got the FD one at 2.75% and that's it

ZeroSum

colsten said:

gwapenut said:

colsten said:

ZeroSum said:

colsten said:

ZeroSum said:

colsten said:

ZeroSum said:

Bobblehat said:

ZeroSum said:

I thought you had to keep £1k in the savings account for a month?

Opened account on 20th dec. Wine came today

I can see why you thought you might have to keep the £1000 in the savings account for a month .... but if you read the T&C's carefully, you can withdraw the £1000 once you have the wine code ... I waited until the wine actually arrived (today  )  before moving the £1000 out to a better interest rate account.

The savings rate is 0.5% isnt it?
Which is pretty much top of the market

Not as top as 2%, or 1.75%, 1.5%, or even just 1%, all of which are still available to new applicants. Additionally, many people will still have legacy instant access accounts paying up to 1.2%.

Excluding current accounts with limits & reg savers, what are these accounts?

Why would current accounts, reg savers, and legacy savings accounts not be suitable places to keep £1,000 in?

Because they've already been utilised

WOW. You must either be swimming in money then as there's literally dozens of them to open, or you are not adventurous.

Or can get far better returns on his or her time for the meagre results.

That‘s clearly an option in the ‘adventurous’ category. Albeit an unlikely one for anyone who considers 0.5% “pretty much top of the market”

Obviously there are other options (I can get 30+% if I wanted to)
But for a simple instant access savings account that isnt restricted to what you can pay in (beyond the usual upper limits which go into 6 or 7 figures) then 0.5% is pretty much top of the market

You're fully aware what I'm referring to & just being argumentative for the sake of having an argument 

colsten

ZeroSum said:

colsten said:

gwapenut said:

colsten said:

ZeroSum said:

colsten said:

ZeroSum said:

colsten said:

ZeroSum said:

Bobblehat said:

ZeroSum said:

I thought you had to keep £1k in the savings account for a month?

Opened account on 20th dec. Wine came today

I can see why you thought you might have to keep the £1000 in the savings account for a month .... but if you read the T&C's carefully, you can withdraw the £1000 once you have the wine code ... I waited until the wine actually arrived (today  )  before moving the £1000 out to a better interest rate account.

The savings rate is 0.5% isnt it?
Which is pretty much top of the market

Not as top as 2%, or 1.75%, 1.5%, or even just 1%, all of which are still available to new applicants. Additionally, many people will still have legacy instant access accounts paying up to 1.2%.

Excluding current accounts with limits & reg savers, what are these accounts?

Why would current accounts, reg savers, and legacy savings accounts not be suitable places to keep £1,000 in?

Because they've already been utilised

WOW. You must either be swimming in money then as there's literally dozens of them to open, or you are not adventurous.

Or can get far better returns on his or her time for the meagre results.

That‘s clearly an option in the ‘adventurous’ category. Albeit an unlikely one for anyone who considers 0.5% “pretty much top of the market”

Obviously there are other options (I can get 30+% if I wanted to)
But for a simple instant access savings account that isnt restricted to what you can pay in (beyond the usual upper limits which go into 6 or 7 figures) then 0.5% is pretty much top of the market

You're fully aware what I'm referring to & just being argumentative for the sake of having an argument 

Well, if I had £1,000 that I wanted to keep in an instant access account, I'd put it into a 2% Virgin Money account, not into a 0.5% one. Queue the inevitable "I have got one of these already"..........which I have already covered by "you are not adventurous".

gwapenut

It's not necessarily about being adventurous though - some may say it's about being pragmatic. I personally value my time more than it takes to open, setup and, at some future date, close a string of identical current accounts so that I can earn £10 extra per year on each account containing £1000. It's all down to individuals, some are not adventurous, and some have circumstances which make it a waste of their time.

colsten

gwapenut said:

It's not necessarily about being adventurous though - some may say it's about being pragmatic. I personally value my time more than it takes to open, setup and, at some future date, close a string of identical current accounts so that I can earn £10 extra per year on each account containing £1000. It's all down to individuals, some are not adventurous, and some have circumstances which make it a waste of their time.

Just for the record, 2% of £1,000 is £20; 0.5% of £1,000 is £5. 

Also for the record, opening a Virgin Money account, and then keeping £1,000 in it, is a doddle for 99% of all applicants. It is no more effort than opening a 0.5% savings account, and then keeping £1,000 in it. Especially for those calling themselves Money Saving Experts.