Is It Worth Moving From Chase at 1.5% to Virgin M Plus at 1.56%

RG2015

uk1 said:

RG2015 said:

scoot65 said:

OP here. Thanks for the replies.

I wouldn't normally go chasing minuscule % increases. It's just that as I already had a empty VM account I thought I could utilise that option. 
I hadn't thought about the compounding interest issue (I would move the monthly interest and put in into the Chase account).

Alternatively, I suppose I could just order one less pizza/chinese/indian takeaway and that'll put me in the same position financially.... 

Another astute observation. One less pizza.

But what if you transferred to VM and had one less pizza? You're £30 up.

Recently, I suddenly realised that the word saving for me had just meant putting money in a bank account to earn interest.

I had forgotten that saving really just means not spending.

An obsession you might therefore consider acquiring is learning the very elusive art of making extraordinary pizza from scratch at home.  However it does become extremely addictive and can be expensive if it takes over.

Already there. Yum Yum 

Haven't bought a supermarket or takeaway pizza for many years

uk1

RG2015 said:

uk1 said:

RG2015 said:

scoot65 said:

OP here. Thanks for the replies.

I wouldn't normally go chasing minuscule % increases. It's just that as I already had a empty VM account I thought I could utilise that option. 
I hadn't thought about the compounding interest issue (I would move the monthly interest and put in into the Chase account).

Alternatively, I suppose I could just order one less pizza/chinese/indian takeaway and that'll put me in the same position financially.... 

Another astute observation. One less pizza.

But what if you transferred to VM and had one less pizza? You're £30 up.

Recently, I suddenly realised that the word saving for me had just meant putting money in a bank account to earn interest.

I had forgotten that saving really just means not spending.

An obsession you might therefore consider acquiring is learning the very elusive art of making extraordinary pizza from scratch at home.  However it does become extremely addictive and can be expensive if it takes over.

Already there. Yum Yum 

Haven't bought a supermarket or takeaway pizza for many years

I do so hope you make some pre-ferment biga / poolish and use 00 Caputo flour to bulk up to around 65-70% hydration  and cook it at 950f for a minute or so ….. and always keep a few balls in the fridge to slowly ferment and cover those sudden late night desperate urges that no one else understands …… otherwise grasshopper you are not sufficiently  obsessed.  

But it is good to find a kindred spirit. 

trickydicky14

cymruchris said:

I've got an account at both - and have moved £25k back to Virgin for now. I imagine that if the numbers of people moving money out of Chase steadily increase - it might spur them on to increase their rates to remain competitive. If they do, I'll happily move it back. It only takes seconds.

Not if you are one of the many who constantly have transfers put on hold for security checks which can take days or if you prefer sit on the phone for an hour to get your cash released

RG2015

uk1 said:

RG2015 said:

uk1 said:

RG2015 said:

scoot65 said:

OP here. Thanks for the replies.

I wouldn't normally go chasing minuscule % increases. It's just that as I already had a empty VM account I thought I could utilise that option. 
I hadn't thought about the compounding interest issue (I would move the monthly interest and put in into the Chase account).

Alternatively, I suppose I could just order one less pizza/chinese/indian takeaway and that'll put me in the same position financially.... 

Another astute observation. One less pizza.

But what if you transferred to VM and had one less pizza? You're £30 up.

Recently, I suddenly realised that the word saving for me had just meant putting money in a bank account to earn interest.

I had forgotten that saving really just means not spending.

An obsession you might therefore consider acquiring is learning the very elusive art of making extraordinary pizza from scratch at home.  However it does become extremely addictive and can be expensive if it takes over.

Already there. Yum Yum 

Haven't bought a supermarket or takeaway pizza for many years

I do so hope you make some pre-ferment biga / poolish and use 00 Caputo flour to bulk up to around 65-70% hydration  and cook it at 950f for a minute or so ….. and always keep a few balls in the fridge to slowly ferment and cover those sudden late night desperate urges that no one else understands …… otherwise grasshopper you are not sufficiently  obsessed.  

But it is good to find a kindred spirit. 

Ah, maybe not so OCD.

We have a bread maker which is great for the pizza dough, and half usually goes in the freezer.

uk1

RG2015 said:

uk1 said:

RG2015 said:

uk1 said:

RG2015 said:

scoot65 said:

OP here. Thanks for the replies.

I wouldn't normally go chasing minuscule % increases. It's just that as I already had a empty VM account I thought I could utilise that option. 
I hadn't thought about the compounding interest issue (I would move the monthly interest and put in into the Chase account).

Alternatively, I suppose I could just order one less pizza/chinese/indian takeaway and that'll put me in the same position financially.... 

Another astute observation. One less pizza.

But what if you transferred to VM and had one less pizza? You're £30 up.

Recently, I suddenly realised that the word saving for me had just meant putting money in a bank account to earn interest.

I had forgotten that saving really just means not spending.

An obsession you might therefore consider acquiring is learning the very elusive art of making extraordinary pizza from scratch at home.  However it does become extremely addictive and can be expensive if it takes over.

Already there. Yum Yum 

Haven't bought a supermarket or takeaway pizza for many years

I do so hope you make some pre-ferment biga / poolish and use 00 Caputo flour to bulk up to around 65-70% hydration  and cook it at 950f for a minute or so ….. and always keep a few balls in the fridge to slowly ferment and cover those sudden late night desperate urges that no one else understands …… otherwise grasshopper you are not sufficiently  obsessed.  

But it is good to find a kindred spirit. 

Ah, maybe not so OCD.

We have a bread maker which is great for the pizza dough, and half usually goes in the freezer.

Quite right.  These things tend to take a life of their own.  It ended up with me wanting to perfect and make proper bagels because you can’t buy them and proper baguettes because you cannot buy them.  Then your wife starts demanding them. So you end up a prisoner to the dough. 

crumpet_man

uk1 you must have spent more time posting in this thread than it has taken me to transfer funds from Chase to Virgin Money and setup a SO to move the suprlus interest payments back to Chase.

I would not call my behaviour twitchy or obsessive.  I have been made aware of an interest rate rise and taken advantage of it.  

RG2015

uk1 said:

RG2015 said:

uk1 said:

RG2015 said:

uk1 said:

RG2015 said:

scoot65 said:

OP here. Thanks for the replies.

I wouldn't normally go chasing minuscule % increases. It's just that as I already had a empty VM account I thought I could utilise that option. 
I hadn't thought about the compounding interest issue (I would move the monthly interest and put in into the Chase account).

Alternatively, I suppose I could just order one less pizza/chinese/indian takeaway and that'll put me in the same position financially.... 

Another astute observation. One less pizza.

But what if you transferred to VM and had one less pizza? You're £30 up.

Recently, I suddenly realised that the word saving for me had just meant putting money in a bank account to earn interest.

I had forgotten that saving really just means not spending.

An obsession you might therefore consider acquiring is learning the very elusive art of making extraordinary pizza from scratch at home.  However it does become extremely addictive and can be expensive if it takes over.

Already there. Yum Yum 

Haven't bought a supermarket or takeaway pizza for many years

I do so hope you make some pre-ferment biga / poolish and use 00 Caputo flour to bulk up to around 65-70% hydration  and cook it at 950f for a minute or so ….. and always keep a few balls in the fridge to slowly ferment and cover those sudden late night desperate urges that no one else understands …… otherwise grasshopper you are not sufficiently  obsessed.  

But it is good to find a kindred spirit. 

Ah, maybe not so OCD.

We have a bread maker which is great for the pizza dough, and half usually goes in the freezer.

Quite right.  These things tend to take a life of their own.  It ended up with me wanting to perfect and make proper bagels because you can’t buy them and proper baguettes because you cannot buy them.  Then your wife starts demanding them. So you end up a prisoner to the dough. 

This must be a metaphor for constantly seeking the best interest rate for your dough. 

Ballard

crumpet_man said:

uk1 you must have spent more time posting in this thread than it has taken me to transfer funds from Chase to Virgin Money and setup a SO to move the suprlus interest payments back to Chase.

I would not call my behaviour twitchy or obsessive.  I have been made aware of an interest rate rise and taken advantage of it.  

I haven’t looked at the VM account but assume that it’s a standard basis which would give different interest amounts depending on the month so what process did you follow to set up the standing order? I can’t recall ever having the option to set these up with variable amounts. 

hangryconsumer

scoot65 said:

it'll just mean a quick transfer...........     

Nope. Yesterday they blocked my transfer, I rang them asap, waited 20 mins on hold so gave up and sent a message through the app. They said they would call me, still waiting. No idea what the call involves. Already told them in the message in the app the reason for the transfer. Already lost a day's interest because of it. @scoot65 let us know how you get on with the transfer.

RG2015

hangryconsumer said:

scoot65 said:

it'll just mean a quick transfer...........     

Nope. Yesterday they blocked my transfer, I rang them asap, waited 20 mins on hold so gave up and sent a message through the app. They said they would call me, still waiting. No idea what the call involves. Already told them in the message in the app the reason for the transfer. Already lost a day's interest because of it. @scoot65 let us know how you get on with the transfer.

I am always sceptical at weekends.

I transferred a large sum on Wednesday, arrived at VM in seconds.

Therefore I am waiting until next week before trying any more.