Virgin Money linked savings account

typistretired

I’m not moving any money into the Virgin Savings accounts until that rate updates

RG2015

Have people forgotten that this is Virgin Money we are talking about. They have history and are unlikely to change as if by magic.

I could see this happening and that is why I started this thread.

fly-catchers

I can’t even log on using their app now. Keeps crashing. Can’t say I am surprised. Will leave my funds in my 0.84% Tesco account for now. And test the water later..

where_are_we

My Tesco Internet Saver only allows maximum £10,000 per day online withdrawals. I realise you can phone them up to move more money. I will move some money over later today (hopefully they will update their interest rates by then) to Virgin and the rest tomorrow.

RG2015

My online banking has now been updated and is showing my rate as 1.00%.

Section62

RG2015 said:

Can their systems cope with this major increase in activity?

The old ybonline online banking website is responding at a glacial pace, but when I eventually got to my account the 1.0% rate is now showing for me too.

Aidanmc

After depositing 25k, interest rate now shows at 0.5%?

Edit, i see now if balance is below 25k interest rate shows at 1%, at 25k it shows 0.5%

refluxer

Aidanmc said:

After depositing 25k, interest rate now shows at 0.5%?

Edit, i see now if balance is below 25k interest rate shows at 1%, at 25k it shows 0.5%

Presumably that should be 1% on up to £25k and 0.5% on anything over, not 0.5% on the whole lot if balance is over £25k ?

dc_scotland

My interpretation from recent media reports was that on balances of up to £25k, a rate of 1% would be paid.  And if the balance exceeds £25k, a rate of 0.50% would be paid on the portion above £25k.  I relayed this info to a friend, who contacted Virgin and was told that some customers are misinterpreting the new rate.  She was told that if the balance exceeds £25k, the rate on the entire balance is reduced to 0.50%.  I wonder if it's the media and some customers who are misinterpreting, or is it some Virgin staff !  

veryintrigued

dc_scotland said:

My interpretation from recent media reports was that on balances of up to £25k, a rate of 1% would be paid.  And if the balance exceeds £25k, a rate of 0.50% would be paid on the portion above £25k.  I relayed this info to a friend, who contacted Virgin and was told that some customers are misinterpreting the new rate.  She was told that if the balance exceeds £25k, the rate on the entire balance is reduced to 0.50%.  I wonder if it's the media and some customers who are misinterpreting, or is it some Virgin staff !  

Christ what a shower.

£24999 for me then