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steve65e

At the moment my extra £10.46 is still in the account balance, and no message, so they must pick it up at the end of the day.

They are clearly in breach of their t&cs but it's hard to get upset about a 1p loss of interest.

Wheres_My_Cashback

steve65e wrote: »

They are clearly in breach of their t&cs but it's hard to get upset about a 1p loss of interest.

But 1p is not the point, it's an error which could effect thousands of people. Some customers will be concerned and call them at their own time and expense to query it.
Any account holder would expect as the norm for their account to be managed correctly.

Wheres_My_Cashback

adindas wrote: »

I fail to understand why try investing time arguing the thing which is very insignificant.

Is it worthy arguing, calling, sending email for
the additional interest rate of £10.48 for 18 days based on 2.25% ?? It is just 1.16p. I understand it is against T&C but s it worthy to invest time on this considering what you could potentially get !!!

Who's arguing ? It was simply a question of 'why have you returned funds' labelled as a/c limit breached'?

I'd suggest most account holders (outside this thread) would be concerned as they would have no idea why and what, if any implications there are etc. let's face it, a high volume of customers who open these accounts have no idea of how RSs in terms of interest actually work. You just have to look at the number of threads started stating they haven't been paid enough interest at the end of the term.

gingercordial

adindas wrote: »

I fail to understand why try investing time arguing the thing which is very insignificant.

Is it worthy arguing, calling, sending email for
the additional interest rate of £10.48 for 18 days based on 2.25% ?? It is just 1.16p. I understand it is against T&C but s it worthy to invest time on this considering what you could potentially get !!!

I'm not arguing with them! I was perplexed at having an extra £10 appear in my current account as I had no idea what that was. Now I have identified it as coming from Virgin, I have dropped them a quick message to tell them their systems aren't working as they are supposed to in line with the T&Cs. I though they might like to know this so they can fix it and avoid the same thing happening (and loads of questions from savers) as each subsequent RS matures, this being number one. It took me two minutes to write a message. I am not demanding compo...

ETA: in fact seeing as my Tesco current account is not full this week it's earning more (3%) back with me than in the RS (2.25%) so why would I complain?

steve65e

I agree entirely that banks should be forced to follow their own t&cs, and I hope they will rapidly fix their programming error. I might even send them a secure message if they return my £10.46. But more in the spirit of helping them than moaning and demanding my 1.43p.

schiff

adindas wrote: »

I fail to understand why try investing time arguing the thing which is very insignificant.

Is it worthy arguing, calling, sending email for
the additional interest rate of £10.48 for 18 days based on 2.25% ?? It is just 1.16p. I understand it is against T&C but is it worth it to invest time on this considering what you could potentially get !!!

I agree. My £10.49 is the interest credited on 11/3/17 and I don't mind one bit being paid 18 days early. The 'lost' interest is a penny.

But it does need clarifying with another 14 accounts to come to maturity!

Wheres_My_Cashback

Virgin have responded and confirmed it is an IT error affecting ALL RS accounts.
They said they would happily accept a re-deposit of the same amount, but I declined. They also assured me that it will not occur on other live RS accounts in their system due to mature in future months.

schiff

steve65e wrote: »

I agree entirely that banks should be forced to follow their own t&cs, and I hope they will rapidly fix their programming error. I might even send them a secure message if they return my £10.46. But more in the spirit of helping them than moaning and demanding my 1.43p.

Where exactly do you get £1.43 from? I'm puzzled.

schiff

Wheres_My_Cashback wrote: »

Virgin have responded and confirmed it is an IT error affecting ALL RS accounts.
They said they would happily accept a re-deposit of the same amount, but I declined. They also assured me that it will not occur on other live RS accounts in their system due to mature in future months.

What are the odds that this discussion will continue

Wheres_My_Cashback

schiff wrote: »

What are the odds that this discussion will continue

Evens...and again maybe on 01/12 as the next one is due to mature on 20/12