We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
How to close Virgin Money savings account?
eezyrider
Posts: 20 Forumite
My local branch is closing and I'm switching. In order to receive the bonus for switching I need to close my VM accounts. I have found closure forms for the current account but not for the savings account. It does not seem possible to do this in the app or online so has anybody closed their saver recently and if so, how?
Thanks
Thanks
0
Comments
-
Is this the savings account linked to your current account or stand alone savings accounts like regular savers etc?
If your switching your current account then it closes as part of the switch - you do not need to close it yourself. If you want to close the savings account linked to your current account you have to go into branch or call up apparently.
If its a stand alone savings account you close them as part of the transfer money out process onlineFTB - April 20200 -
According to the Virgin M T&Cs, if you switch and close a Virgin M current account, Virgin will automatically close the linked savings account, too. But even if they didn't, it wouldn't matter for the purposes of getting a switch bonus from your new bank. The bank you switch to don't even know about the savings account(s) you may have. The switch is concerned exclusively with the current account you have asked to be switched and closed.
0 -
I have two CA with Virgin plus the two savings accounts that go with them.
I mover one CA to Santander to claim a bonus, the savings account is still open, I did move cash from it into my other savings account but it remains open.
I choose the rooms that I live in with care,
The windows are small and the walls almost bare,
There's only one bed and there's only one prayer;
I listen all night for your step on the stair.1 -
Daliah said:
According to the Virgin M T&Cs, if you switch and close a Virgin M current account, Virgin will automatically close the linked savings account, too. But even if they didn't, it wouldn't matter for the purposes of getting a switch bonus from your new bank. The bank you switch to don't even know about the savings account(s) you may have. The switch is concerned exclusively with the current account you have asked to be switched and closed.FTB - April 20200 -
As above, despite what the terms say, I can confirm that if you switch a current account the linked savings account does not get closed.
2 -
It doesn't surprise me that Virgin Money don't follow their own T&Cs, but I for one won't challenge them on it as I want to keep my other accounts with them. If the savings account was the last account I had with them, and if it really mattered to me that it got closed, I might consider a complaint. Then I might not, as life is too short for some things.0
-
I have switched three VM current accounts away. All three linked Savings accounts are still showing on the app.
No money in them mind. Better rates elsewhere.1 -
My switch to Santander was completed a few days ago - the savings account is still showing (with a zero balance) in the app. I don't anticipate ever using it again - but don't really want to spend half an hour in a queue on the phone to close it.0
-
wiseonesomeofthetime said:I have switched three VM current accounts away. All three linked Savings accounts are still showing on the app.
No money in them mind. Better rates elsewhere.Remember the saying: if it looks too good to be true it almost certainly is.1 -
jimjames said:wiseonesomeofthetime said:I have switched three VM current accounts away. All three linked Savings accounts are still showing on the app.
No money in them mind. Better rates elsewhere.I choose the rooms that I live in with care,
The windows are small and the walls almost bare,
There's only one bed and there's only one prayer;
I listen all night for your step on the stair.0
Categories
- All Categories
- 346.5K Banking & Borrowing
- 251.3K Reduce Debt & Boost Income
- 451.3K Spending & Discounts
- 238.7K Work, Benefits & Business
- 614K Mortgages, Homes & Bills
- 174.7K Life & Family
- 251.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards