2.05% Virgin Money Current Account. Multiple?

TheEffect

I've moved my main banking over to Virgin when they had the wine switch offer. One of the direct debit didn't copy across and just had 'rejected', they also failed to copy across my monthly rent standing order, no idea why. 
So far the app has been fine, and i haven't had any other issues, but reading all this feedback, it does make me reconsider using them as my main bank. They currently have all of the savings, direct debits, standing orders etc. 

adindas

colsten said:

adindas said:

castle96 said:

"But it will also depend on how easy it is to open the account. It will be entirely different if they ask people to post a certified proof of address, proof of ID in comparison to just apply online and get the account open in less than ten minutes."

I have one already. Applied for a second and they need address/ID by email

When they are asking the scan copy, images, take selfie, etc. It is still easy.

But when they start asking to post "a certified proof of ID", proof of address it will be entirely different matter.

Just use the Post Office certification service. That will be £12.75 very well spent if you are in the unfortunate situation that banks cannot identify you electronically. If you don't have certifiable documents, that would be an entirely different matter and people in that situation will have much larger problems than being refused a current account.

I fully believe people hesitation is not because  people do not have the original documents to be certified. A lot of people on MSEs are already in this multiple account games since a decade ago when they normally opened their account in branches; have opened multiple Virgin Money RS branches where they would need to show the original documents in branches.

When you have multiple accounts you could always ask one of your bank account monthly statement to be sent via snail mail that you could use as proof of address when needed. For proof of IDs you always have your passport, Driving licence.

The problem here is that whether £12.75 is worthy considering you will only get around £32.40 a year (say based on 12X£250 monthly on RSA). Not to mention your time to fill in the AF, go to post office, open and close the account.

where_are_we

colsten said:

adindas said:

castle96 said:

"But it will also depend on how easy it is to open the account. It will be entirely different if they ask people to post a certified proof of address, proof of ID in comparison to just apply online and get the account open in less than ten minutes."

I have one already. Applied for a second and they need address/ID by email

When they are asking the scan copy, images, take selfie, etc. It is still easy.

But when they start asking to post "a certified proof of ID", proof of address it will be entirely different matter.

Just use the Post Office certification service. That will be £12.75 very well spent if you are in the unfortunate situation that banks cannot identify you electronically. If you don't have certifiable documents, that would be an entirely different matter and people in that situation will have much larger problems than being refused a current account.

I have never paid for certification - £12.75 or otherwise. I walk away if "certified proof of id" is insisted upon. Its against the MSE "ethos".

Ballard

where_are_we said:

colsten said:

adindas said:

castle96 said:

"But it will also depend on how easy it is to open the account. It will be entirely different if they ask people to post a certified proof of address, proof of ID in comparison to just apply online and get the account open in less than ten minutes."

I have one already. Applied for a second and they need address/ID by email

When they are asking the scan copy, images, take selfie, etc. It is still easy.

But when they start asking to post "a certified proof of ID", proof of address it will be entirely different matter.

Just use the Post Office certification service. That will be £12.75 very well spent if you are in the unfortunate situation that banks cannot identify you electronically. If you don't have certifiable documents, that would be an entirely different matter and people in that situation will have much larger problems than being refused a current account.

I have never paid for certification - £12.75 or otherwise. I walk away if "certified proof of id" is insisted upon. Its against the MSE "ethos".

It surely depends on the situation. If paying a one-off £12.75 allows you to open an account which would credit you £25 a month more interest than elsewhere it would make sense to go that route.

colsten

where_are_we said:

colsten said:

adindas said:

castle96 said:

"But it will also depend on how easy it is to open the account. It will be entirely different if they ask people to post a certified proof of address, proof of ID in comparison to just apply online and get the account open in less than ten minutes."

I have one already. Applied for a second and they need address/ID by email

When they are asking the scan copy, images, take selfie, etc. It is still easy.

But when they start asking to post "a certified proof of ID", proof of address it will be entirely different matter.

Just use the Post Office certification service. That will be £12.75 very well spent if you are in the unfortunate situation that banks cannot identify you electronically. If you don't have certifiable documents, that would be an entirely different matter and people in that situation will have much larger problems than being refused a current account.

I have never paid for certification - £12.75 or otherwise. I walk away if "certified proof of id" is insisted upon. Its against the MSE "ethos".

As I said, it will be £12.75 very well spent if you are in the unfortunate situation that banks cannot identify you electronically. For the simple reason that this is very likely to help you get a credit reference file which will then enable banks in the future to verify you electronically. I would expect that most people could be identified electronically after they had the first youth current account, for which ID requirements are quite different. People who have recently moved to the UK might have to jump through some extra hoops - that's part and parcel of setting yourself up in a new country as an adult.