Virgin 1 Year Fixed Rate Cash ISA Exclusive issue 11

DJSINGH

My Santander fixed isa matured today but still sitting there. Anyone else's moved to Virgin yet or received any further communication? (Note I opened the Exc11 ISA and did not fund in the last tax year)

Phoenix72

I transferred from Halifax to Virgin on 6th April (initiated before that date) and it arrived on the 8th April.

Does anyone know if the app is clear on whether you opted for monthly or annual interest? I wanted monthly but can't recall if I did the necessary to get it and app doesn't specify. Is monthly interest paid at the end of each month?

badger09

DJSINGH said:

My Santander fixed isa matured today but still sitting there. Anyone else's moved to Virgin yet or received any further communication? (Note I opened the Exc11 ISA and did not fund in the last tax year)

My Santander FRISA also matures today. I’m expecting interest to be added overnight. 

I’m also hoping it is transferred to my Virgin FRISA tomorrow or shortly after. 

Hal17

I opened a Virgin Iss 11 ISA and deposited £20K. I then transferred £13K from a Principality ISA, so a total of £33K.

I have another Virgin ISA Iss 612 that matures in August. If I am offered a good interest rate from Virgin and decide to keep with them, I could potentially with all interest added, have around £90K.

I have read all about the FSCS limit of £85K and to remember to include interest payments. Would it be unwise to do this and exceed the £85K limit? I guess you never know what may happen but would appreciate any thoughts.

Beddie

Hal17 said:

I opened a Virgin Iss 11 ISA and deposited £20K. I then transferred £13K from a Principality ISA, so a total of £33K.

I have another Virgin ISA Iss 612 that matures in August. If I am offered a good interest rate from Virgin and decide to keep with them, I could potentially with all interest added, have around £90K.

I have read all about the FSCS limit of £85K and to remember to include interest payments. Would it be unwise to do this and exceed the £85K limit? I guess you never know what may happen but would appreciate any thoughts.

Some on here would never have more than a penny over the FSCS limit, but others are more sanguine, especially with an established UK bank that is highly regulated. I personally wouldn't be worried, as the chances of them going under between now and August is incredibly slim. And even if they did, in reality the government would protect all deposits, as they have done in the past.

badger09

badger09 said:

DJSINGH said:

My Santander fixed isa matured today but still sitting there. Anyone else's moved to Virgin yet or received any further communication? (Note I opened the Exc11 ISA and did not fund in the last tax year)

My Santander FRISA also matures today. I’m expecting interest to be added overnight. 

I’m also hoping it is transferred to my Virgin FRISA tomorrow or shortly after. 

Exactly as expected. 

Interest added overnight & revised balance online early today. 

15.35 text from VM to say xfer complete. 

Good when it works as it should. 

Lumiona

Hiya, jumping back on to this thread as my Virgin FRISA matures 31st March. Can anyone advise what happens to this isa? I can't find the T&Cs for this. I'd like to organise a transfer as soon as it matures, not sure how far in advance I'd need to do this.

where_are_we

Lumiona - check out the separate thread on Virgin FRISA Maturity.

Beddie

Lumiona said:

Hiya, jumping back on to this thread as my Virgin FRISA matures 31st March. Can anyone advise what happens to this isa? I can't find the T&Cs for this. I'd like to organise a transfer as soon as it matures, not sure how far in advance I'd need to do this.

You'll get an email about it any day now - I got one today. 

liamcov

If you transfer the entire amount out will they close the Virgin ISA? Is there a way to do a transfer but they will keep it open (ie. if wanted to use later on)?