Clydesdale acquisition of Virgin: impact on speed of Virgin faster payment withdrawals?

tg99

For Virgin Money savings accounts, anyone know if post the acquisition by Clydesdale, has the speed of faster payment withdrawals changed to pretty much instant? Withdrawals/transfers from my Clydesdale/YB accounts have always arrived pretty much instantly whereas Virgin has tended to be a bit longer such as a couple of hours or sometimes more depending on time of day etc. (Not able to test myself as the Virgin Double Take savings accounts only allow two withdrawals pa.)

MDMD

Unlikely, they are still running two different systems (three actually as the old NR System was still in use for branch accounts with a separate one for online accounts)

xlnc99

ive got the B account and like you its been merged with Virgin. Since the merger i started using the Virgin app with my B account details. I have both apps downloaded and can use them both at the same time with the same login for my b account. I mainly just use the Virgin APP as the B account will sooner or later be shut down. Everytime i use virgin and transfer money from and out it is received instantly.

SnowTiger

xlnc99 wrote: »

ive got the B account and like you its been merged with Virgin. Since the merger i started using the Virgin app with my B account details. I have both apps downloaded and can use them both at the same time with the same login for my b account. I mainly just use the Virgin APP as the B account will sooner or later be shut down. Everytime i use virgin and transfer money from and out it is received instantly.

I don't think infrastructure behind the scenes has has been merged. Not yet, anyway.

Eco_Miser

xlnc99 wrote: »

ive got the B account and like you its been merged with Virgin.

I believe the new Virgin Money app-based current account is just B with different branding, that is, using Clydesdale's IT systems. However the OP was asking about Savings accounts which will still be using Virgin's legacy systems for now.

tg99

Eco_Miser wrote: »

I believe the new Virgin Money app-based current account is just B with different branding, that is, using Clydesdale's IT systems. However the OP was asking about Savings accounts which will still be using Virgin's legacy systems for now.

Oh right...so there is no point me downloading the Virgin Money app then as presumably it won’t work with Virgin savings accounts (that existed pre the acquisition)?

xlnc99

SnowTiger wrote: »

I don't think infrastructure behind the scenes has has been merged. Not yet, anyway.

Not sure how that behind the scenes stuff work to be honest. Ive not noticed anything different with the two apps and money transfers as of yet

xlnc99

Eco_Miser wrote: »

I believe the new Virgin Money app-based current account is just B with different branding, that is, using Clydesdale's IT systems. However the OP was asking about Savings accounts which will still be using Virgin's legacy systems for now.

Oh yeh i must have misread. Ive not tried the savings account, although on both apps the savings account shows up. Ive not used the savings accounts for both apps so cant comment but i would assume it would work as the same savings app on the b account. However you will no better

MDMD

My understanding is that they want to avoid “doing a TSB” and so they will let the old VM system “wither on the vine” where they can - i.e. let any fixed term products run to maturity on the old system and renew on the new platform (or not). There will be an an amount of natural attrition to as people close accounts.

Current accounts will be switched via the Current Account Switch Service and CYBG Credit Cards will be transferred to the VM system.

MDMD

xlnc99 wrote: »

Oh yeh i must have misread. Ive not tried the savings account, although on both apps the savings account shows up. Ive not used the savings accounts for both apps so cant comment but i would assume it would work as the same savings app on the b account. However you will no better

When the posts above refer to savings accounts these are the ones previously run by the “old” Virgin Money not the linked account.

Ergates

Eco_Miser wrote: »

I believe the new Virgin Money app-based current account is just B with different branding, that is, using Clydesdale's IT systems. However the OP was asking about Savings accounts which will still be using Virgin's legacy systems for now.

Exactly this.