Virgin Money Savings Rates

dino2020

Hello,

We have an older Double Take v9 online account that paid 1.45%, though thats been superseded by newer versions of the account,

Online shows that the account is still paying the same rate of 1.45% so thought about moving some other lower interest rate money into it, but wondered if that would somehow trigger Virgin to drop the interest rate?

Thought about asking Virgins help line but again thought that might trigger a similar thing ?

Or perhaps just leave well alone and keep getting the 1.45% on whats in there already ?

ivormonee

You are quite right, of course. Calling the virgin helpline to ask about moving money into your account would very likely trigger them to drop the interest rate. Probably to zero or even a negative rate as punishment. I'd say just leave it and count your lucky stars.

G_M

Banks base their interest rates on what their customers do. If you withdraw 50% of the money you hold in the account, they will increase the interest rate by 50%. If you add to the account, they will reduce the rate. So please don't do that as I too have that account and don't want to see the interest rate reduced just because you have put additional funds in...

RG2015

If it shows as 1.45% online then that is the current rate.

You can check this on the following VM page where the rate is still shown as 1.45%

https://uk.virginmoney.com/savings/helpful-information/find-your-interest-rate/#