Virgin Money Current Account

poppellerant

colsten said:

poppellerant said:

ryan92 said:

I have 3 Virgin Money Current Accounts and I get the interest paid monthly on all three @poppellerant  

I appreciate your feedback, @ryan92 - was a savings account opened for each current account you opened?

Yes, a savings account gets automatically opened with each VM current account.

Okay, so is it attached to the current account you open? Ie: could I close the savings account once the second current account is up and running?

ryan92

Only thing I would suggest with opening up multiple accounts with them (if in close succession) is when the PIN numbers arrive, the letters don't make any mention of what account they are for so it's a guessing game. Otherwise you'll be good to go  

colsten

poppellerant said:

colsten said:

poppellerant said:

ryan92 said:

I have 3 Virgin Money Current Accounts and I get the interest paid monthly on all three @poppellerant  

I appreciate your feedback, @ryan92 - was a savings account opened for each current account you opened?

Yes, a savings account gets automatically opened with each VM current account.

Okay, so is it attached to the current account you open? Ie: could I close the savings account once the second current account is up and running?

You probably could but I believe you would have to ask Virgin to close it as there's no online facility to do so. But why wake sleeping dogs. I am not using any of my Virgin savings accounts and just let them sit there.

poppellerant

colsten said:

poppellerant said:

colsten said:

poppellerant said:

ryan92 said:

I have 3 Virgin Money Current Accounts and I get the interest paid monthly on all three @poppellerant  

I appreciate your feedback, @ryan92 - was a savings account opened for each current account you opened?

Yes, a savings account gets automatically opened with each VM current account.

Okay, so is it attached to the current account you open? Ie: could I close the savings account once the second current account is up and running?

You probably could but I believe you would have to ask Virgin to close it as there's no online facility to do so. But why wake sleeping dogs. I am not using any of my Virgin savings accounts and just let them sit there.

That's true enough, I'll just let sleeping dogs lie and see if I'm paid any interest.  Is the interest paid at the end of each month for the current and savings accounts?

Brewer20

And if applying again for the additional VM current account (I have one, opened in December) do I have go through the same process, in other words as if it's my first?

Seems the best thing to do ATM, another £1k with 2% interest, or maybe 2 additional accounts?

goatfaced

poppellerant said:

That's true enough, I'll just let sleeping dogs lie and see if I'm paid any interest.  Is the interest paid at the end of each month for the current and savings accounts?

Yes, mine was paid on 31st, only 2 days after I put it in so only 4p 😁

VXman

Brewer20 said:

VXman said:

Missed the 31 day deadline for switching by one day! So no wine. I had planned it out and put a reminder in the calender (just to ensure the DD had gone through) but got my counting slightly wrong!!

So applied for another current account for the wife. All gone through quickly and account granted on one go. I'll give it a week or for for the DD to transfer and do the switch. 2nd time lucky I hope.

Did you have to wait for a code sent in the post before the final set up?. I had to, I thought it would just be an address check up.

No. It was all done through text codes on her mobile. I quick and immediate. I'm not sure about what happened with mine - can't remember. She's now on the phone waiting to do the switch. 45 mins and counting!

poppellerant

Brewer20 said:

And if applying again for the additional VM current account (I have one, opened in December) do I have go through the same process, in other words as if it's my first?

Seems the best thing to do ATM, another £1k with 2% interest, or maybe 2 additional accounts?

I've already opened up my second current and savings accounts and it took less than 5 minutes.  All I had to do was sign in, use the app to confirm it was me signing in and then most of the details were filled in from what I entered during the first application.

onlyfoolsandparking

Having had the account a while now I was fairly impressed with it's functionality and opened it for a back up current account, I have unfortunately hit a (probably nothing to most on here) problem. I transferred 3K into the Virgin account from my Natwest account a couple of months ago, no problem very easy via Natwest app. I then wanted to transfer £1800 back to my Natwest for a few unexpected issues (dishwasher blew up, laptop blew up and OH's hot tub won't heat up lol) and so logged online attempted the transfer only to find out the limit is £500 daily WTH!!!!

I went on the live chat to be told I NEEDED the app to transfer more than the daily limit. I don't mind having to download another banking app (sigh) but the Virgin money app is pretty poor in looks alone if nothing else. I haven't tried the transfer yet and I'm sure it will go through (daily limit is 30K apparently via app) but is this the way all banking is going? I've only got 3 banking apps at the moment but I could in principle end up with around 12 if all the CC companies go down this route too.  

Brewer20

I prefer apps now, much easier if all you want is to check balances, move money and pay bills.