Virgin M Plus reopen once switched? 11 November 2022 at 9:42PM in Budgeting & bank accounts 16 replies 738 views

Lewis7498

Does anyone happen to know how long Virgin make you wait to reopen another account with them once you’ve switched out?

Just done my first switch today to the Lloyds Club to bag £150! Hoping it’s all done right!

grizzlegrizzle

I reopened a Virgin current account about a month after switching out. 

WillPS

You cannot usually reopen a Current Account after it has been switched using CASS, because the losing provider is duty bound to redirect payments indefinitely.

Most banks will allow you to open a fresh account, the main exceptions being Monzo and Starling - and First Direct/HSBC can be a bit sniffy too (not to mention they take *ages* to open accounts in any case).

Lewis7498

WillPS said:

You cannot usually reopen a Current Account after it has been switched using CASS, because the losing provider is duty bound to redirect payments indefinitely.

Most banks will allow you to open a fresh account, the main exceptions being Monzo and Starling - and First Direct/HSBC can be a bit sniffy too (not to mention they take *ages* to open accounts in any case).

Ah yes I meant a new fresh account and that’s great info thank you. I’ve already been told no thanks from Monzo after I closed an account (didn’t even switch!) at the start of the year. Very picky!

cymruchris

I opened another one about two months after I switched out - then ended up with 2 x M-Plus savers - I've just switched out again, but I don't think I'll bother again - they don't offer any award-winning market-leading rates anymore - getting better interest rates easily elsewhere. What makes you want to open another account? It can't be their renowned customer service

Lewis7498

cymruchris said:

I opened another one about two months after I switched out - then ended up with 2 x M-Plus savers - I've just switched out again, but I don't think I'll bother again - they don't offer any award-winning market-leading rates anymore - getting better interest rates easily elsewhere. What makes you want to open another account? It can't be their renowned customer service

Just to switch out again that’s all it would be for as I can’t do starling for 1 year now and Monzo rejected me 😆
Customer service is shocking! Makes me not want to move from my first direct account I have as they are good!

grizzlegrizzle

I opened a new current account with Virgin so I could get the exclusive flexible easy access ISA (3% interest). Unfortunately it required phone calls to customer service which took ages.

OP if you've successfully switched to Lloyd's why don't you just open a second current account with them while you're there? Should be very quick. 

Sallyforth

At one point my husband and I had 6 Virgin Money current accounts open to benefit from the 2% interest on £1K.  However, there are better options elsewhere so it's been handy having these to switch to get cashback deals.  A bit of a faff moving a couple of DDs to each but doable.  I've got one left now which I use to switch when another offer comes available.  We were with Yorkshire Bank who were fine until Virgin came on the scene. 

xylophone

I thought I'd open a Virgin M plus account so as to be able to access the 3% ISA.

On trying on line, I was told I couldn't proceed as "I looked familiar" and should telephone.

I do have a log in for Virgin savings although the accounts are empty and formerly had a current account  with Yorkshire Bank that was closed years ago.

After a good  twenty five minutes I managed to get through to an operative who said she would pass me to the account opening team who could open an account on line.

Another twenty minutes to speak to another operative who explained that they would have to deregister me from the legacy Yorkshire Bank system (why was I still on it?} and then I would be sent a 10 digit code by text.

I would then need to apply on line again and reply yes to the question relating to existing  current accounts (even though I don't have any) and this would allow me to proceed with an application.....

No ten digit code has yet been received.......

Nul points  (as the French would say) toVirgin Money.......

grizzlegrizzle

Sounds about par for the course with Virgin, xylophone. If you're transferring an existing ISA into the new 3% Virgin ISA, I can tell you that they've apparently been having a technical glitch throwing up an erroneous message when you submit the ISA transfer form at the end of the application process. The message says that they've not been able to submit the transfer form but after phoning (and spending 40 minutes hanging on) I was told that it's all progressing as expected and that lots of people have been experiencing this issue. 

xylophone

If you're transferring an existing ISA into the new 3% Virgin ISA, I can tell you that they've apparently been having a technical glitch throwing up an erroneous message when you submit the ISA transfer form at the end of the application process

Just what I was planning to do but I am now wondering whether I can face the hassle....