Faster payment not received

hansi

I requested a transfer from my Virgin Money acccount to my nominated account yesterday at 14.00 and as of today at 06.00 the money had not arrived in my account and the Virgin Money clearly shows the transfer as cleared and the account details are correct.Should I be worried?

RG2015

hansi said:

I requested a transfer from my Virgin Money acccount to my nominated account yesterday at 14.00 and as of today at 06.00 the money had not arrived in my account and the Virgin Money clearly shows the transfer as cleared and the account details are correct.Should I be worried?

If this is a Virgin Money savings account then it may take a day or two. Virgin Money Savings and Ford Money are much slower than other banks.

I am assuming it is a savings account because that is the only one that requires a nominated bank account.

hansi

Thanks. Yes, it's a Virgin ISA account.

hansi

Still not there this morning! I expect they'll it's because it's not a business day! Roll on Monday.

dunstonh

Do Virgin run with a unique sort code and account number for every account or do they have a central sort code/account number and reference number (with the reference number being the only unique detail)?   If the latter, then that requires manual moving from the receiving account to your account.  Usually that would add a working day.

RG2015

dunstonh said:

Do Virgin run with a unique sort code and account number for every account or do they have a central sort code/account number and reference number (with the reference number being the only unique detail)?   If the latter, then that requires manual moving from the receiving account to your account.  Usually that would add a working day.

Every Virgin Money savings account has a unique account number but the same sort code unlike Ford Money who use the set up you mention.

I do not know why Virgin Money are so slow with receipts and payments

hansi

Sods law. I spent ages phoning NW to find out where the money had gone and after having to get a new  security number, they told me it was showing as paid into the account. When I checked 5 minutes previously it wasn't there. All ok now and thanks everyone for your advice.

born_again

hansi said:

I requested a transfer from my Virgin Money acccount to my nominated account yesterday at 14.00 and as of today at 06.00 the money had not arrived in my account and the Virgin Money clearly shows the transfer as cleared and the account details are correct.Should I be worried?

While faster payments are usually straight away. They can take up to the end of the next working day to arrive.
So you transferred it on a Public Holiday, so it could take till the end of Monday/Tuesday to arrive.