Virgin linked savings account reducing interest

Alexland

MovingForwards said:

The wine was probably a cross promotion of the two brand areas

It wasn't a very good cross promotion as we never had to sign-up to get a Virgin Wines account, emails, special offers, etc. There has been no follow-up at all. I would have at least expected an invitation to join the wine club etc. There is an offer well hidden in the app but most people wouldn't see it. Seems a wasted opportunity for them to boost sales.

Zanderman

Alexland said:

MovingForwards said:

The wine was probably a cross promotion of the two brand areas

It wasn't a very good cross promotion as we never had to sign-up to get a Virgin Wines account, emails, special offers, etc. There has been no follow-up at all. I would have at least expected an invitation to join the wine club etc. There is an offer well hidden in the app but most people wouldn't see it. Seems a wasted opportunity for them to boost sales.

Yes, I thought that too. Astonishing really.  Was expecting to have to open a V Wine account at the very least but no, just enter code and name and address and bingo, have some wine. Complete waste of an opportunity for V Wine. 

wiseonesomeofthetime

Unimpressed with Virgin Money so far.

Account holder since Monday and still cannot access mobile or internet banking because neither the app or the website can very my details.

Nearly 3 hours on to multiple CS staff and still not resolved. Pleasant staff, but they are totally bamboozled why my Customer Number and debit card number do not appear to be linked, hence the failure.

If I had been chasing the promotion, I would not have been able to complete parts of criteria by Sunday.

I'm not though. One saving grace, I suppose.

Debit card and GPay work fine and balance from ATM shows money going in and out of the account okay.

veggieblob

MovingForwards said:

Virgin are reducing the interest rate on their current account linked savings account:

AER1 (0.50% gross2 per annum variable) on your savings balance up to 26 April 2021, interest paid quarterly. Please note, from 27 April 2021 the interest rate will change to 0.35% Gross/AER1 (0.35% gross2 per annum variable).

Plenty of advanced warning and still better than some savings accounts offered by banks.

How were you notified of this please?  I have 2 Virgin current acs with linked savings but have heard nothing about this from them.  Thanks

AbundantBudget

veggieblob said:

MovingForwards said:

Virgin are reducing the interest rate on their current account linked savings account:

AER1 (0.50% gross2 per annum variable) on your savings balance up to 26 April 2021, interest paid quarterly. Please note, from 27 April 2021 the interest rate will change to 0.35% Gross/AER1 (0.35% gross2 per annum variable).

Plenty of advanced warning and still better than some savings accounts offered by banks.

How were you notified of this please?  I have 2 Virgin current acs with linked savings but have heard nothing about this from them.  Thanks

I didn't receive any personal notification either but it clearly stated on their web-site 
https://uk.virginmoney.com/savings/find/results/#online

Lightning360

veggieblob said:

MovingForwards said:

Virgin are reducing the interest rate on their current account linked savings account:

AER1 (0.50% gross2 per annum variable) on your savings balance up to 26 April 2021, interest paid quarterly. Please note, from 27 April 2021 the interest rate will change to 0.35% Gross/AER1 (0.35% gross2 per annum variable).

Plenty of advanced warning and still better than some savings accounts offered by banks.

How were you notified of this please?  I have 2 Virgin current acs with linked savings but have heard nothing about this from them.  Thanks

They'll probably contact us soon. Santander did a similar thing as they updated their website first before sending emails out to existing customers.

MovingForwards

veggieblob said:

MovingForwards said:

Virgin are reducing the interest rate on their current account linked savings account:

AER1 (0.50% gross2 per annum variable) on your savings balance up to 26 April 2021, interest paid quarterly. Please note, from 27 April 2021 the interest rate will change to 0.35% Gross/AER1 (0.35% gross2 per annum variable).

Plenty of advanced warning and still better than some savings accounts offered by banks.

How were you notified of this please?  I have 2 Virgin current acs with linked savings but have heard nothing about this from them.  Thanks

I spotted it on the website when looking at their savings accounts. What I posted up was copied off their site.

So far, I've not received personal notification.

colsten

veggieblob said:

MovingForwards said:

Virgin are reducing the interest rate on their current account linked savings account:

AER1 (0.50% gross2 per annum variable) on your savings balance up to 26 April 2021, interest paid quarterly. Please note, from 27 April 2021 the interest rate will change to 0.35% Gross/AER1 (0.35% gross2 per annum variable).

Plenty of advanced warning and still better than some savings accounts offered by banks.

How were you notified of this please?  I have 2 Virgin current acs with linked savings but have heard nothing about this from them.  Thanks

They still have a dew days to notify you

cricidmuslibale

colsten said:

veggieblob said:

MovingForwards said:

Virgin are reducing the interest rate on their current account linked savings account:

AER1 (0.50% gross2 per annum variable) on your savings balance up to 26 April 2021, interest paid quarterly. Please note, from 27 April 2021 the interest rate will change to 0.35% Gross/AER1 (0.35% gross2 per annum variable).

Plenty of advanced warning and still better than some savings accounts offered by banks.

How were you notified of this please?  I have 2 Virgin current acs with linked savings but have heard nothing about this from them.  Thanks

They still have a dew days to notify you

Clearly they are expecting a frosty reception to this news!

Alexland

Zanderman said:

Yes, I thought that too. Astonishing really.  Was expecting to have to open a V Wine account at the very least but no, just enter code and name and address and bingo, have some wine. Complete waste of an opportunity for V Wine. 

It makes a lot more sense now - their main motivation was probably just trying to boost the number of cases shifted (and flow of money) so the Wine business had impressive numbers to support their stock market flotation.

https://www.telegraph.co.uk/business/2021/02/16/virgin-wines-pops-cork-100m-float/