Nationwide take over of Virgin Money

ForumUser7

If Nationwide and Virgin Money eventually share FSCS coverage, presumably members/customers would be allowed to break bonds early if this took them over the 85k limit? Not something that’ll affect me, but just curious.

WillPS

ForumUser7 said:

If Nationwide and Virgin Money eventually share FSCS coverage, presumably members/customers would be allowed to break bonds early if this took them over the 85k limit? Not something that’ll affect me, but just curious.

Yes indeed. It's one of the reasons why it's expedient of them to not try and merge the two legal entities at the point of the merger.

Clydesdale Bank plc. is probably sticking around long term. My guess is that Virgin Money will stop offering new personal accounts (possibly excluding credit cards) soon after the transaction completes and customers will be encouraged to shift over to Nationwide at maturity.

friolento

noh said:

friolento said:

Albermarle said:

No ability to set up new payess, have to use the card reader
For info this has changed just in the last few days, if you register your photo with them the card reader will be redundant. So progress !

They have managed to mess this up.

I was invited to register, using a card reader, for the card-reader-less payments. I eagerly followed the instructions, just to be told there were system problems and I should try later. I tried later, with the same result. After multiple tries, I rang Nationwide CS who said there was nothing wrong with their systems and I should try again. Didn't work. They then said I didn't have the latest app version. Wrong again. Then they tried to tell me my phone (iPhone 15 Pro Max, on iOS 17.3 at the time) was not supported. When I asked where the list of supported phones was, they said I need to go into Branch as they could sort it for me.

On my own initiative, I then uninstalled the Nationwide app and re-installed it. This newly installed version no longer has a splash screen inviting me to register for card-reader-less payments but I can change it in Settings. In theory. In practice, I am "not eligible for account biometrics at this time". I have used biometric login for the Nationwide app literally for years. I have been a Nationwide customer for 24 years. I am also less than impressed with Nationwide's app right now and won't be using them as my main current account anytime soon. I can imagine that it will get much worse when Nationwide acquire the hotchpotch of Virgin Money apps and systems

Works for me on iPhone Plus 15 iOS 17.3.1
I had no problem registering my photo in the app

Well done you. It won’t work for me

Rob5342

Why don't you just switch to Starling or Monzo if you are having trouble? 

NoodleDoodleMan

Maybe Nationwide can "persuade" Virgin Money to allow online access to savings accounts which appears to be a 21st century concept too far for VM.

We have VM Headstart accounts for the grandkids - only way (without protracted attempts via 'phone enquiries) to know the balance is the monthly issued paper statement by post.

adamp87

Are people really getting cheques that much in 2024? I remember banks used to always give you a cheque book on opening and now are more against doing so when you request, because they just aren’t used anywhere near as much as 20 years ago. Think in the past 5 years I’ve had 1 cheque. For a few pence funnily enough from a bank

simonsmithsays

adamp87 said:

Are people really getting cheques that much in 2024? I remember banks used to always give you a cheque book on opening and now are more against doing so when you request, because they just aren’t used anywhere near as much as 20 years ago. Think in the past 5 years I’ve had 1 cheque. For a few pence funnily enough from a bank

I receive a couple of cheques a month from various Building Societies which I have marturing RS with and don't live close by.

I also send cheques to relatives for presents in lieu of cash.

A newly opened Ulster Bank C/A issued a cheque book without any prompting a week and a half ago.

So yes.

Plenty of cheques are still flying around albeit not to historical levels

boingy

My wife and I receive two cheques per year each. All from my mum - every birthday and Christmas. And I can assure you she's not for changing!

Rich1976

i used to receive a cheque every Christmas from my parents until last year when they decided to download their banking app for the first time ever. So Christmas was a bit unusual receiving a payment into my account on Christmas Day rather than opening an envelope.

WillPS

Currys and their various subsidiaries (Carphone Warehouse, Mobiles.co.uk, e2save) all insist on sending cheques in the post too. Most months I'll have a cheque to pay in for one reason or another.

In terms of writing them, I tend to pop one in wedding cards, and occasionally it's convenient when opening a building society savings account.