Virgin Money Cashback Switch Offer August 2022

OceanSound

As mentioned in a previous post, the virgin money website mentions who can take up the offer. It says:

New Virgin Money M Plus Account and Club M Account customers who:

• are 18+

• are resident in the UK;

• don’t already have an M, M Plus or Club M current account, and haven’t closed one recently (since 30 April 2022); and

• haven’t previously taken up an incentive for switching a current account to Virgin Money since 1 November 2020.

1) If a customer holds a M, M Plus, or Club M current account now but didn't previously take up the incentive for switching a current account to Virgin Money since 1 November 2020, does that mean they can take up the current offer?

Or because they have a M, M Plus or Club M current account now, does it mean they cannot take up the current offer (even if they hadn't taken up the previous offer since 1 November 2020)?

2) How about if they held a M, M Plus, or Club M current account, but closed it on 29 April 2022 and had taken up a previous switching offer since 1 November 2020?

For (2) it seems they are definitely eligible for the current offer, but what about for (1)? eligible or not eligible? and why? Please explain why you think/feel they are eligible or not eligible.

eskbanker

OceanSound said:

As mentioned in a previous post, the virgin money website mentions who can take up the offer. It says:

New Virgin Money M Plus Account and Club M Account customers who:

• are 18+

• are resident in the UK;

• don’t already have an M, M Plus or Club M current account, and haven’t closed one recently (since 30 April 2022); and

• haven’t previously taken up an incentive for switching a current account to Virgin Money since 1 November 2020.

1) If a customer holds a M, M Plus, or Club M current account now but didn't previously take up the incentive for switching a current account to Virgin Money since 1 November 2020, does that mean they can take up the current offer?

Or because they have a M, M Plus or Club M current account now, does it mean they cannot take up the current offer (even if they hadn't taken up the previous offer since 1 November 2020)?

2) How about if they held a M, M Plus, or Club M current account, but closed it on 29 April 2022 and had taken up a previous switching offer since 1 November 2020?

For (2) it seems they are definitely eligible for the current offer, but what about for (1)? eligible or not eligible? and why? Please explain why you think/feel they are eligible or not eligible.

Since the four conditions are all linked by the 'and' at the end of the third, anyone failing any one of them won't be eligible, so anyone holding one of those accounts now or anyone who'd received an incentive since 1 November 2020 wouldn't be eligible.

Bridlington1

OceanSound said:

As mentioned in a previous post, the virgin money website mentions who can take up the offer. It says:

New Virgin Money M Plus Account and Club M Account customers who:

• are 18+

• are resident in the UK;

• don’t already have an M, M Plus or Club M current account, and haven’t closed one recently (since 30 April 2022); and

• haven’t previously taken up an incentive for switching a current account to Virgin Money since 1 November 2020.

1) If a customer holds a M, M Plus, or Club M current account now but didn't previously take up the incentive for switching a current account to Virgin Money since 1 November 2020, does that mean they can take up the current offer?

Or because they have a M, M Plus or Club M current account now, does it mean they cannot take up the current offer (even if they hadn't taken up the previous offer since 1 November 2020)?

2) How about if they held a M, M Plus, or Club M current account, but closed it on 29 April 2022 and had taken up a previous switching offer since 1 November 2020?

For (2) it seems they are definitely eligible for the current offer, but what about for (1)? eligible or not eligible? and why? Please explain why you think/feel they are eligible or not eligible.

1) It depends. If a customer opened an M Plus current account at any point between 30/4/22 and when the offer was introduced at midnight on Thu 18/8/22 they are ineligible for the offer as they are either deemed an existing customer if they have kept the account open or have closed an account recently if they no longer have the account. If on the other hand they never held an account between 30/4/22 and the time the offer was introduced but opened one this morning, they would be deemed a new customer and would be eligible provided they met the rest of the criteria.

2) They would be ineligible for the offer as they have taken up a previous switching offer thus breaking the final term

You can use proof be contrapositive here. If I'm not mistaken the contrapositive would be:

Who can't take up this offer? 

Existing Virgin Money M Plus Account and Club M Account customers and new customers who:

aren't 18+

aren't resident in the UK;

already have an M, M Plus or Club M current account, or have closed one recently (since 30 April 2022); or

have previously taken up an incentive for switching a current account to Virgin Money since 1 November 2020.

If one of these statements is false you are ineligible for the offer.

TheLabFather

If some purchases don’t track to pay just keep on buying until they  do as getting hold of Virgin on the phone is a nightmare, no web chat, no email, just wait and wait. 

OceanSound

Bridlington1 said:

OceanSound said:

As mentioned in a previous post, the virgin money website mentions who can take up the offer. It says:

New Virgin Money M Plus Account and Club M Account customers who:

• are 18+

• are resident in the UK;

• don’t already have an M, M Plus or Club M current account, and haven’t closed one recently (since 30 April 2022); and

• haven’t previously taken up an incentive for switching a current account to Virgin Money since 1 November 2020.

1) If a customer holds a M, M Plus, or Club M current account now but didn't previously take up the incentive for switching a current account to Virgin Money since 1 November 2020, does that mean they can take up the current offer?

Or because they have a M, M Plus or Club M current account now, does it mean they cannot take up the current offer (even if they hadn't taken up the previous offer since 1 November 2020)?

2) How about if they held a M, M Plus, or Club M current account, but closed it on 29 April 2022 and had taken up a previous switching offer since 1 November 2020?

For (2) it seems they are definitely eligible for the current offer, but what about for (1)? eligible or not eligible? and why? Please explain why you think/feel they are eligible or not eligible.

1) It depends. If a customer opened an M Plus current account at any point between 30/4/22 and when the offer was introduced at midnight on Thu 18/8/22 they are ineligible for the offer as they are either deemed an existing customer if they have kept the account open or have closed an account recently if they no longer have the account. If on the other hand they never held an account between 30/4/22 and the time the offer was introduced but opened one this morning, they would be deemed a new customer and would be eligible provided they met the rest of the criteria.

2) They would be ineligible for the offer as they have taken up a previous switching offer thus breaking the final term

You can use proof be contrapositive here. If I'm not mistaken the contrapositive would be:

Who can't take up this offer? 

Existing Virgin Money M Plus Account and Club M Account customers and new customers who:

aren't 18+

aren't resident in the UK;

already have an M, M Plus or Club M current account, or have closed one recently (since 30 April 2022); or

have previously taken up an incentive for switching a current account to Virgin Money since 1 November 2020.

If one of these statements is false you are ineligible for the offer.

In our (you and I) discussions on personal messaging you said if the third statement holds false overall (after evaluating both parts - which, in this case, essentially means if one part is false the whole statement is false), I'm ineligible regardless of the fourth statement and vise versa.

This post stated:

Since the four conditions are all linked by the 'and' at the end of the third, anyone failing any one of them won't be eligible, so anyone holding one of those accounts now or anyone who'd received an incentive since 1 November 2020 wouldn't be eligible.

So, if effect, if I pass the first three conditions and don't fail the last condition I will be eligible.

edit: I presume you agreed with the above poster's comment since there was no rebuttal. 

mika_dm

Daliah said:

mika_dm said:

What happens after 60 days and £160 maximum cash back? Will the cashback rate remain the same or will become no cashback account? Or just the usual 0.25% Virgin card gives anyway?

To the best of my knowledge, there's no usual 0.25% cashback on Virgin debit cards. I think they have credit cards with ongoing cashback, and they do offers for individual retailers from time to time. 

Once you have earned the £160 from the switch offer, you won't get any regular cashback on the debit card (unless they launch a new offer for this - -  very highly as this cashback offer is designed to attract new customers, not please existing ones).

My mistake. It is my Business Debit card from Virgin which gives cashback when you use it.
Did not realise, the personal Virgin account doesn't offer the same thing.

Bridlington1

OceanSound said:

Bridlington1 said:

OceanSound said:

As mentioned in a previous post, the virgin money website mentions who can take up the offer. It says:

New Virgin Money M Plus Account and Club M Account customers who:

• are 18+

• are resident in the UK;

• don’t already have an M, M Plus or Club M current account, and haven’t closed one recently (since 30 April 2022); and

• haven’t previously taken up an incentive for switching a current account to Virgin Money since 1 November 2020.

1) If a customer holds a M, M Plus, or Club M current account now but didn't previously take up the incentive for switching a current account to Virgin Money since 1 November 2020, does that mean they can take up the current offer?

Or because they have a M, M Plus or Club M current account now, does it mean they cannot take up the current offer (even if they hadn't taken up the previous offer since 1 November 2020)?

2) How about if they held a M, M Plus, or Club M current account, but closed it on 29 April 2022 and had taken up a previous switching offer since 1 November 2020?

For (2) it seems they are definitely eligible for the current offer, but what about for (1)? eligible or not eligible? and why? Please explain why you think/feel they are eligible or not eligible.

1) It depends. If a customer opened an M Plus current account at any point between 30/4/22 and when the offer was introduced at midnight on Thu 18/8/22 they are ineligible for the offer as they are either deemed an existing customer if they have kept the account open or have closed an account recently if they no longer have the account. If on the other hand they never held an account between 30/4/22 and the time the offer was introduced but opened one this morning, they would be deemed a new customer and would be eligible provided they met the rest of the criteria.

2) They would be ineligible for the offer as they have taken up a previous switching offer thus breaking the final term

You can use proof be contrapositive here. If I'm not mistaken the contrapositive would be:

Who can't take up this offer? 

Existing Virgin Money M Plus Account and Club M Account customers and new customers who:

aren't 18+

aren't resident in the UK;

already have an M, M Plus or Club M current account, or have closed one recently (since 30 April 2022); or

have previously taken up an incentive for switching a current account to Virgin Money since 1 November 2020.

If one of these statements is false you are ineligible for the offer.

In our (you and I) discussions on personal messaging you said if the third statement holds false overall (after evaluating both parts - which, in this case, essentially means if one part is false the whole statement is false), I'm ineligible regardless of the fourth statement and vise versa.

This post stated:

Since the four conditions are all linked by the 'and' at the end of the third, anyone failing any one of them won't be eligible, so anyone holding one of those accounts now or anyone who'd received an incentive since 1 November 2020 wouldn't be eligible.

So, if effect, if I don't fail the last condition I will be eligible.

edit: I presume you agreed with the above post, since there was no rebuttal. 

I agree with @eskbanker. If the third statement is false you are ineligible for the offer regardless of what the fourth statement says as they are both linked by the 'and'. Similarly if the fourth statement is false you are ineligible for the offer regardless of what the third statement says as they are both linked by the 'and'. It doesn't matter which order the statements are in. So long as they are linked by the 'and' the eligibility criteria remains the same.

For a similar but simpler example it would be like saying: I have counted the number of 1p coins in my wallet. The number is a multiple of 2 and it is a multiple of 3 and it is a multiple of 5.

If the number is, say 15 then it not a multiple of 2, hence the entire statement is false regardless of the fact that it is a multiple of 3 and it is a multiple of 5. In this example you haven't failed the last condition as 15 is a multiple of 5, yet the statement is false.

By your logic the fact that 15 is a multiple of 5 would mean that 15 is a multiple of 2 and is a multiple of 3 and is a multiple of 5. But all numbers that are a multiple of 2 and a multiple of 3 and a multiple of 5 are surely multiples of 30 (the lowest common multiple of 2, 3 and 5). 15 is not a multiple of 30. Hence your logic fails.

OceanSound

Bridlington1 said:

OceanSound said:

Bridlington1 said:

OceanSound said:

As mentioned in a previous post, the virgin money website mentions who can take up the offer. It says:

New Virgin Money M Plus Account and Club M Account customers who:

• are 18+

• are resident in the UK;

• don’t already have an M, M Plus or Club M current account, and haven’t closed one recently (since 30 April 2022); and

• haven’t previously taken up an incentive for switching a current account to Virgin Money since 1 November 2020.

1) If a customer holds a M, M Plus, or Club M current account now but didn't previously take up the incentive for switching a current account to Virgin Money since 1 November 2020, does that mean they can take up the current offer?

Or because they have a M, M Plus or Club M current account now, does it mean they cannot take up the current offer (even if they hadn't taken up the previous offer since 1 November 2020)?

2) How about if they held a M, M Plus, or Club M current account, but closed it on 29 April 2022 and had taken up a previous switching offer since 1 November 2020?

For (2) it seems they are definitely eligible for the current offer, but what about for (1)? eligible or not eligible? and why? Please explain why you think/feel they are eligible or not eligible.

1) It depends. If a customer opened an M Plus current account at any point between 30/4/22 and when the offer was introduced at midnight on Thu 18/8/22 they are ineligible for the offer as they are either deemed an existing customer if they have kept the account open or have closed an account recently if they no longer have the account. If on the other hand they never held an account between 30/4/22 and the time the offer was introduced but opened one this morning, they would be deemed a new customer and would be eligible provided they met the rest of the criteria.

2) They would be ineligible for the offer as they have taken up a previous switching offer thus breaking the final term

You can use proof be contrapositive here. If I'm not mistaken the contrapositive would be:

Who can't take up this offer? 

Existing Virgin Money M Plus Account and Club M Account customers and new customers who:

aren't 18+

aren't resident in the UK;

already have an M, M Plus or Club M current account, or have closed one recently (since 30 April 2022); or

have previously taken up an incentive for switching a current account to Virgin Money since 1 November 2020.

If one of these statements is false you are ineligible for the offer.

In our (you and I) discussions on personal messaging you said if the third statement holds false overall (after evaluating both parts - which, in this case, essentially means if one part is false the whole statement is false), I'm ineligible regardless of the fourth statement and vise versa.

This post stated:

Since the four conditions are all linked by the 'and' at the end of the third, anyone failing any one of them won't be eligible, so anyone holding one of those accounts now or anyone who'd received an incentive since 1 November 2020 wouldn't be eligible.

So, if effect, if I don't fail the last condition I will be eligible.

edit: I presume you agreed with the above post, since there was no rebuttal. 

I agree with @eskbanker. If the third statement is false you are ineligible for the offer regardless of what the fourth statement says as they are both linked by the 'and'. Similarly if the fourth statement is false you are ineligible for the offer regardless of what the third statement says as they are both linked by the 'and'. It doesn't matter which order the statements are in. So long as they are linked by the 'and' the eligibility criteria remains the same.

For a similar but simpler example it would be like saying: I have counted the number of 1p coins in my wallet. The number is a multiple of 2 and it is a multiple of 3 and it is a multiple of 5.

If the number is, say 15 then it not a multiple of 2, hence the entire statement is false regardless of the fact that it is a multiple of 3 and it is a multiple of 5. In this example you haven't failed the last condition as 15 is a multiple of 5, yet the statement is false.

By your logic the fact that 15 is a multiple of 5 would mean that 15 is a multiple of 2 and is a multiple of 3 and is a multiple of 5. But all numbers that are a multiple of 2 and a multiple of 3 and a multiple of 5 are surely multiples of 30 (the lowest common multiple of 2, 3 and 5). 15 is not a multiple of 30. Hence your logic fails.

Regardless is not correct. The last condition has an effect. If I've not taken advantage of the offer previously (since 1 November 2020) then I'm eligible (provided all the other conditions are met). Simple! No need to complicate things with examples of how many 1p coins you have in your wallet.

eskbanker

OceanSound said:
Regardless is not correct. The last condition has an effect. If I've not taken advantage of the offer previously (since 1 November 2020) then I'm eligible (provided all the other conditions are met). Simple! No need to complicate things with examples of how many 1p coins you have in your wallet.

Not sure you're in any position to criticise others for complicating things - it is indeed simple, in that there are four conditions laid out for eligibility, all of which must be satisfied, or, to put it the other way round, if you fail any one of them then you're ineligible.

The fourth condition is "haven’t previously taken up an incentive for switching a current account to Virgin Money since 1 November 2020" (not 'the offer'), so if you've received any VM switching incentive in that timeframe then you're ineligible for this one, or if you haven't received an incentive in that period, you'll be eligible if, and only if, you satisfy the other three conditions too.

Rather than endless hypothesising, why not spell out exactly what your circumstances are, and an informed discussion can ensue about your eligibility in your specific scenario?

callum9999

Daliah said:

Milarky said:

25% cashback? Something is off about that. That's the kind of thing phishers would say. Could anyone confirm actually getting their cashback at some stage (down the line of course)?

"It a trap™"

It's not a trap. It's just a somewhat complicated way of paying you up to £160 as a switch bonus.

I wouldn't call it particularly complicated, but I'm surprised more banks aren't doing this.

I got incentives on my foreign accounts for actually using the account (£X for paying in salary, £X for using the debit card, £X for direct debits etc) and I ended up keeping them going once the incentives ran out. In the UK I just switch, get the incentive then leave it empty until the next switch comes along.