Virgin > Virgin ISA transfer

Bobblehat

Ditto .... thanks lucyandthomas and DavidAC .... with your comments I had a go online at opening Issue 10 and transferring in Issue 4 on maturity. Seems to have worked OK following your hints ... we'll see sometime in Feb, no doubt!

DavidAC

The annoying thing is in the application it says you can pay in up to 30 days from account withdrawal, while going through the application for the transfer it says 6 weeks. I was waiting for maturity to be within the 30 days. If I had known 6 weeks I probably could have got issue 9 at a higher rate.

Bobblehat

DavidAC said:

The annoying thing is in the application it says you can pay in up to 30 days from account withdrawal, while going through the application for the transfer it says 6 weeks. I was waiting for maturity to be within the 30 days. If I had known 6 weeks I probably could have got issue 9 at a higher rate.

Interesting point!

allegro120

Bobblehat said:

Ditto .... thanks lucyandthomas and DavidAC .... with your comments I had a go online at opening Issue 10 and transferring in Issue 4 on maturity. Seems to have worked OK following your hints ... we'll see sometime in Feb, no doubt!

I did the same this morning. Very quick and simple process.  I've estimated that my interest on issue 4 maturity will be approximately £815 so I put £20,815 in the box but I guess it doesn't matter because I've requested to transfer the full balance anyway.  Received confirmation e-mail and Issue10 is showing on my app. 

gele

allegro120 Did you do this all on the app? i have issue 4 due to mature on the 31st and am thinking I'll do the same. is this being done now because its expected Virgin will reduced the interest rate on issue 10 any day now? I normally wait til I get a renewal option. Thanks

Aidanmc

gele said:

allegro120 Did you do this all on the app? i have issue 4 due to mature on the 31st and am thinking I'll do the same. is this being done now because its expected Virgin will reduced the interest rate on issue 10 any day now? I normally wait til I get a renewal option. Thanks

You could open a Issue 10 now just in case. If its still available on 31st you can always open a 2nd Issue 10 and set up the transfer online.

If the Issue 10 is pulled before 31st you can still send a paper transfer form in the post  or someone suggested that it can be done overthe phone.

allegro120

gele said:

allegro120 Did you do this all on the app? i have issue 4 due to mature on the 31st and am thinking I'll do the same. is this being done now because its expected Virgin will reduced the interest rate on issue 10 any day now? I normally wait til I get a renewal option. Thanks

No, I did it online, but I guess it can be done on the app too.
Yes, I did it now because I think it is very likely that issue 10 will be taken off the shelf and replaced by issue 11 at lower rate soon.  

gele

Well I did it this morning. Opened the fixed rate issue 10 and set up a transfer in for when my ISA4 matures. In the past I've waited to see what the maturity options were but as has been said, they're very likely to be less and almost certainly not more. Thanks for the advice. It'll be interesting to watch and see if the 5.25% rate is pulled soon. 

DavidAC

Is the Virgin Money login working? I enter the OTP correctly but it then says the site cannot be reached.

sausage_time

DavidAC said:

Is the Virgin Money login working? I enter the OTP correctly but it then says the site cannot be reached.

Broken for me too - takes me to the password change page after the OTP.  So I did, new OTP, then took me to the password change page!