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How to close Virgin Money savings account?

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
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Comments

  • SaverRate
    SaverRate Posts: 944 Forumite
    Fifth Anniversary 500 Posts Name Dropper
    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 online
    FTB - April 2020 
  • Daliah
    Daliah Posts: 3,792 Forumite
    1,000 Posts First Anniversary Photogenic Name Dropper


    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.


  • 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.
  • SaverRate
    SaverRate Posts: 944 Forumite
    Fifth Anniversary 500 Posts Name Dropper
    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.


    Thats interesting! I spoke with Virgin CS on live chat earlier as was told the savings account wouldn't be closed when my switch completes and I would have to ring up/go into branch to close it! Time will tell as the switch is due to complete tomorrow!
    FTB - April 2020 
  • kaMelo
    kaMelo Posts: 2,618 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper
    edited 12 October 2021 at 9:44PM
    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.

  • Daliah
    Daliah Posts: 3,792 Forumite
    1,000 Posts First Anniversary Photogenic Name Dropper
    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.
  • 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.
  • cymruchris
    cymruchris Posts: 5,511 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper Photogenic
    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. 
  • jimjames
    jimjames Posts: 17,933 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    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.
    Out of interest where do you get better rates than the 2% the current account pays?
    Remember the saying: if it looks too good to be true it almost certainly is.
  • jimjames 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.
    Out of interest where do you get better rates than the 2% the current account pays?
    I think he is just talking about the linked savings account not the current account.
    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.
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