Transferring money between Virgin accounts

Pelagonium4

I’m trying to set a new payee on my Virgin current account to transfer money to my new Virgin Defined Access Saver but I keep getting the warning “Name matching service not available on this account”    ( but you can go ahead and transfer anyway if you like). Anyone any idea why not - it’s their bank surely they should be able to check the name on the account?

PRAISETHESUN

How new is the account? I've seen it sometimes take a few days to update COP when a new account is opened. However, if you're confident the account details are correct then you can ignore any mismatch. I suspect at any rate it's something to do with the multiple legacy systems Virgin have not being able to talk to each other properly.

etienneg

Why do you need to set up a payee for transferring money between your own Virgin accounts? All my Virgin accounts appear on screen together, and so when you want to tranfer money between them they are available for selection when you are setting From and To fields for the transaction. At least, that's what happens for me in online banking. It may be different if you are using the app, but I would still be surprised if you need to set up a payee yourself.  

Pelagonium4

Etienneg - Yes I agree transferring between accounts should be possible but the Current Account is in the ‘Current Accounts’ bit of the login on the webpage (although certain savings products are on there too) and the other account is under ‘Savings Accounts’.  And apparently the two don’t speak to each other!  Virgin have been promising to sort it out and bring everything together on one login page for ages but they never do. 

friolento

Ignore the warning. Send a £1 test payment first, and once this has arrived, you can safely use the payee for larger amounts.

david72

Pelagonium4 said:

I’m trying to set a new payee on my Virgin current account to transfer money to my new Virgin Defined Access Saver but I keep getting the warning “Name matching service not available on this account”    ( but you can go ahead and transfer anyway if you like). Anyone any idea why not - it’s their bank surely they should be able to check the name on the account?

Virgin Money is really just a number of banks loosely cobbled together (this is why the website has a complex "which system are you logging in to" menu). Most of their savings accounts (apart from those connected to their current accounts, for current account holders only) are effectively still Northern Rock under the surface and use the Northern Rock platform (red/grey) and sort codes. The current account platform is (I think) Clydesdale Bank under the surface (red/white, and with a very boxy look) and uses Clydesdale Bank(?) sort codes?

If you are transferring money from an account on one platform to one on the other, I guess it will effectively look and act like a transfer from one bank to a different bank.

Eco_Miser

david72 said:

Virgin Money is really just a number of banks loosely cobbled together (this is why the website has a complex "which system are you logging in to" menu). Most of their savings accounts (apart from those connected to their current accounts, for current account holders only) are effectively still Northern Rock under the surface and use the Northern Rock platform (red/grey) and sort codes. The current account platform is (I think) Clydesdale Bank under the surface (red/white, and with a very boxy look) and uses Clydesdale Bank(?) sort codes?

If you are transferring money from an account on one platform to one on the other, I guess it will effectively look and act like a transfer from one bank to a different bank.

Yes, the current accounts and linked saver accounts use the Clydesdale platform and the original Clydesdale Bank (82) and Yorkshire Bank (05) sort codes.

Transfers between these and the 08 ex-Northern Rock accounts have to be set up as Faster Payments, though I suspect they are intercepted behind the scenes to be actual transfers as the success message says the payment will be immediate rather than the normal 'within two hours'.

prettyandfluffy

I would use the app rather than the website, it's quite good.

Pelagonium4

Quick Update - decided to send test payment. Got it all set up, tried to send, and got a ‘Oops something went wrong. Try again later’ message.   It’s still sitting there waiting for me to try again on the account page.  To h**l with them, I’m putting it in the building society.