Regular Savings Accounts: The Best Currently Available List!

WillPS

simonsmithsays said:

MBS

More worrying is that my OH got told the monthly s.os were returned due to 'system issues' and invited to send them again

The limit was incorrectly set at £3600 but has been raised to £3900 thanks to some timely complaints from others on the board, including @Bridlington1 . "System issues" is a more sellable explanation I suppose.

dcs34

WillPS said:

simonsmithsays said:

MBS

More worrying is that my OH got told the monthly s.os were returned due to 'system issues' and invited to send them again

The limit was incorrectly set at £3600 but has been raised to £3900 thanks to some timely complaints from others on the board, including @Bridlington1 . "System issues" is a more sellable explanation I suppose.

It's not yet clear if the limit has been raised on the product or only to specific accounts when complaints are made.

For what it's worth, my second response from MBS once I'd pushed back on the initial "12 payments only" response:

I am sincerely sorry for any inconvenience this has caused. You are completely correct, on further review the balance has now been increased to £3900 if you'd like to send your payment back in we can apply accordingly.

And I won't be chasing them up for compensation or lost interest because that wasn't the point...

Rob_Wills

I have registered a complaint, enquiry really, as to why @VirginMoney require a mobile to open a current account?

Why they appear to be turning down £10s of millions from people who want to invest with them who don't have a mobile?

Regular Saver Exclusive

Save up to £250 a month for 12 months and get a fixed rate of 10.38% AER¹ (10.00% Gross²). Ker-ching! Conditions apply.  This account requires a current account with @Virgin but is not available unless a current account is opened.

@MSE should make this clear...

Stargunner

Rob_Wills said:

I have registered a complaint, enquiry really, as to why @VirginMoney require a mobile to open a current account?

Why they appear to be turning down £10s of millions from people who want to invest with them who don't have a mobile?

Regular Saver Exclusive

Save up to £250 a month for 12 months and get a fixed rate of 10.38% AER¹ (10.00% Gross²). Ker-ching! Conditions apply.  This account requires a current account with @Virgin but is not available unless a current account is opened.

@MSE should make this clear...

Are you not aware that at least 98% of UK adults own a mobile phone, so Virgin are not missing out on many people that want to bank with them.

pecunianonolet

Rob_Wills said:

I have registered a complaint, enquiry really, as to why @VirginMoney require a mobile to open a current account?

Why they appear to be turning down £10s of millions from people who want to invest with them who don't have a mobile?

Regular Saver Exclusive

Save up to £250 a month for 12 months and get a fixed rate of 10.38% AER¹ (10.00% Gross²). Ker-ching! Conditions apply.  This account requires a current account with @Virgin but is not available unless a current account is opened.

@MSE should make this clear...

I think people without a mobile are a minority group nowadays but you should be able to open the current account on the phone or in branch if you have one nearby. Did you try to call them?

Rob_Wills

pecunianonolet said:

Rob_Wills said:

I have registered a complaint, enquiry really, as to why @VirginMoney require a mobile to open a current account?

Why they appear to be turning down £10s of millions from people who want to invest with them who don't have a mobile?

Regular Saver Exclusive

Save up to £250 a month for 12 months and get a fixed rate of 10.38% AER¹ (10.00% Gross²). Ker-ching! Conditions apply.  This account requires a current account with @Virgin but is not available unless a current account is opened.

@MSE should make this clear...

I think people without a mobile are a minority group nowadays but you should be able to open the current account on the phone or in branch if you have one nearby. Did you try to call them?

There are no @VirginMoney branches near me;  would the system be any different? 
@Virgin are being taken over by @NationwideBuildingSociety.

I spoke with a young lady Natalie, telephone system is the same, who is forwarding our conversation to "management".  I won't hold my breath for a reply.

NB:  This mobile phone condition is becoming all too common and is unnecessary.  Every financial institution should be aware they are losing £billions of money to their competitors who DON'T insist on it.

drphila

Rob_Wills said:

pecunianonolet said:

Rob_Wills said:

I have registered a complaint, enquiry really, as to why @VirginMoney require a mobile to open a current account?

Why they appear to be turning down £10s of millions from people who want to invest with them who don't have a mobile?

Regular Saver Exclusive

Save up to £250 a month for 12 months and get a fixed rate of 10.38% AER¹ (10.00% Gross²). Ker-ching! Conditions apply.  This account requires a current account with @Virgin but is not available unless a current account is opened.

@MSE should make this clear...

I think people without a mobile are a minority group nowadays but you should be able to open the current account on the phone or in branch if you have one nearby. Did you try to call them?

There are no @VirginMoney branches near me;  would the system be any different? 
@Virgin are being taken over by @NationwideBuildingSociety.

I spoke with a young lady Natalie, telephone system is the same, who is forwarding our conversation to "management".  I won't hold my breath for a reply.

NB:  This mobile phone condition is becoming all too common and is unnecessary.  Every financial institution should be aware they are losing £billions of money to their competitors who DON'T insist on it.

I assume the problem here is that you can't receive SMS codes. But there are technical ways around this, incuding. websites which will receive codes on your behalf either unsecured or for a small fee secured.

Should be quite easy to research on Google.

flaneurs_lobster

Rob_Wills said:

NB:  This mobile phone condition is becoming all too common and is unnecessary.  Every financial institution should be aware they are losing £billions of money to their competitors who DON'T insist on it.

VM (or rather Clydesdale Bank) have over six million UK customers, and a market cap in billions, I'd guess they've made this business decision with their eyes open. 

They will have done a simple analysis:

How much will it cost us to service a customer who does not have/does not want to register a mobile phone as opposed to one who does?

What proportion of these "have nots" will be the kind of customers who make us money?

Suspect that VM have decided that their decision will not lose them "£billions".

As OP says, plenty of other institutions out there happy to take your business.

Stargunner

Rob_Wills said:

pecunianonolet said:

Rob_Wills said:

I have registered a complaint, enquiry really, as to why @VirginMoney require a mobile to open a current account?

Why they appear to be turning down £10s of millions from people who want to invest with them who don't have a mobile?

Regular Saver Exclusive

Save up to £250 a month for 12 months and get a fixed rate of 10.38% AER¹ (10.00% Gross²). Ker-ching! Conditions apply.  This account requires a current account with @Virgin but is not available unless a current account is opened.

@MSE should make this clear...

I think people without a mobile are a minority group nowadays but you should be able to open the current account on the phone or in branch if you have one nearby. Did you try to call them?

There are no @VirginMoney branches near me;  would the system be any different? 
@Virgin are being taken over by @NationwideBuildingSociety.

I spoke with a young lady Natalie, telephone system is the same, who is forwarding our conversation to "management".  I won't hold my breath for a reply.

NB:  This mobile phone condition is becoming all too common and is unnecessary.  Every financial institution should be aware they are losing £billions of money to their competitors who DON'T insist on it.

 People without a mobile phone are such a small minority, that it has no effect to the banks that insist that you have one.
What is your reason for not owning one?

BestSeagull

Rob_Wills said:

pecunianonolet said:

Rob_Wills said:

I have registered a complaint, enquiry really, as to why @VirginMoney require a mobile to open a current account?

Why they appear to be turning down £10s of millions from people who want to invest with them who don't have a mobile?

Regular Saver Exclusive

Save up to £250 a month for 12 months and get a fixed rate of 10.38% AER¹ (10.00% Gross²). Ker-ching! Conditions apply.  This account requires a current account with @Virgin but is not available unless a current account is opened.

@MSE should make this clear...

I think people without a mobile are a minority group nowadays but you should be able to open the current account on the phone or in branch if you have one nearby. Did you try to call them?

There are no @VirginMoney branches near me;  would the system be any different? 
@Virgin are being taken over by @NationwideBuildingSociety.

I spoke with a young lady Natalie, telephone system is the same, who is forwarding our conversation to "management".  I won't hold my breath for a reply.

NB:  This mobile phone condition is becoming all too common and is unnecessary.  Every financial institution should be aware they are losing £billions of money to their competitors who DON'T insist on it.

I understand how you feel. I held out for a long time, on principle. At one point, one of the banks, actually credited my account with £10 to buy a phone as I made such a fuss when they brought in 2FA by mobile only.  I still didn't.

But when it got to the point that I would have been cutting off my nose to spite my face, I finally broke down and bought a smart phone. I haven't regretted it for a moment. Life is just so much easier with than without.