Virgin Money Cash ISA transfer

Yellowman

I applied for a Virgin Money ISA (3%) on Friday 4th Nov.

Transfer in from Coventry BS set up on same day.

Transfer completed on Friday 11th Nov (with e-mail and text notifications).

intalex

Their fixed rates have just dropped, so should hopefully alleviate the overload of demand causing all kinds of bottlenecks

Ocelot

Yellowman said:

I applied for a Virgin Money ISA (3%) on Friday 4th Nov.

Transfer in from Coventry BS set up on same day.

Transfer completed on Friday 11th Nov (with e-mail and text notifications).

That's good to know. I opened a 3 year fixed rate ISA (4.41%) with them on the 4th too, and initiated a transfer in from a Coventry BS ISA at 0.85% (1 year remaining on 3 year fix) yesterday (10th).

Haven't checked progress yet as they said it could take 12 days (in the blurb).

2Sheds

I tried to open a Virgin current account this week online to transfer my ISA to their 3% one, got a message my application will be checked and they'll reply in 2 days.

3 days later I get a text and email telling me to log in to my account (what account!!) tried calling but got bored on hold and then Aldermore upped my ISA from 2.05% to 2.80% so I'll not bother with Virgin.

xylophone

I tried to open a Virgin current account this week online to transfer my ISA to their 3% one, got a message my application will be checked and they'll reply in 2 days.

3 days later I get a text and email telling me to log in to my account (what account!!) tried calling but got bored on hold and then Aldermore upped my ISA from 2.05% to 2.80% so I'll not bother with Virgin.

Is there anybody in this financial organisation who knows or cares that its systems seem to be what might vulgarly be termed a b-gger's muddle?

https://forums.moneysavingexpert.com/discussion/comment/79625100/#Comment_79625100

savit4l8er

xylophone said:

I tried to open a Virgin current account this week online to transfer my ISA to their 3% one, got a message my application will be checked and they'll reply in 2 days.

3 days later I get a text and email telling me to log in to my account (what account!!) tried calling but got bored on hold and then Aldermore upped my ISA from 2.05% to 2.80% so I'll not bother with Virgin.

Is there anybody in this financial organisation who knows or cares that its systems seem to be what might vulgarly be termed a b-gger's muddle?

https://forums.moneysavingexpert.com/discussion/comment/79625100/#Comment_79625100

Well that's hard to say but taking a brief look at this highly accredited bunch, I would say the digital & innovation and communication officers should be ashamed of themselves followed by anyone else who see over them.  Sometimes it's a case of get this on my CV and move on to help somewhere else (before I get the blame).



https://www.virginmoneyukplc.com/about-us/executive-leadership-team/

inspectorperez

freddiedougal said:

I have a Virgin Money cash isa on a terrible rate. I tried to transfer it to Skipton Building Society cash isa but this failed and total value returned to Virgin. I then opened a Virgin 1year fixed cash isa and tried to transfer my old Virgin isa into it. I cannot get hold of Virgin by phone and filled in their confusing online transfer form which doesn’t list my sort code for both Virgin accounts, but the isa has not been transferred.Any ideas please as time is ticking on and I am losing interest (and the will to live). Thanks

Had exactly the same trouble myself!

https://forums.moneysavingexpert.com/discussion/6400739/virgin-isa-conundrum#latest

Gave up in the end when they produced a product with a higher rate than the one I was transferring into at Newcastle Building Society.

It did occur to me that they were putting obstacles in the way of transfers to other providers for spurious reasons.

Ability to make contact by phone was impossible and secure messages were quoted as taking 3 to 5 working days. I'm still waiting to replies for messages I sent last month!

isasmurf

Hopefully when they get around to migrating accounts off the ex NR/VM platforms on to ex CYBGs digital platform, which was meant to have happened in the first 3 years after the takeover, things might get a bit simpler and they can develop the features that will reduce the need for secure messages and manual processes. I doubt they'll be any development work on the ex VM platform if they are still planning on shutting it down. 

Ocelot

Ocelot said:

Yellowman said:

I applied for a Virgin Money ISA (3%) on Friday 4th Nov.

Transfer in from Coventry BS set up on same day.

Transfer completed on Friday 11th Nov (with e-mail and text notifications).

That's good to know. I opened a 3 year fixed rate ISA (4.41%) with them on the 4th too, and initiated a transfer in from a Coventry BS ISA at 0.85% (1 year remaining on 3 year fix) yesterday (10th).

Haven't checked progress yet as they said it could take 12 days (in the blurb).

My transfer seems to have completed now. Very quick! I do already have an account with them, so not sure if that makes any difference?

xylophone

To give credit where it is due, I telephoned VM today and eventually managed to speak to a customer service agent who was very helpful and managed to open the account on line.

Everything comes to the one who waits......and you certainly have to wait!