Virgin Money 12%

Thi800

I have chat with customer service via fb they told me I can cancel direct debit anytime after 26th June but today I have chat with customer service via online banking they told me direct debit must activate and  they'd need to remain active until the end of June 25 when the interest rate returns to standard.So very annoying and confused.

PRAISETHESUN

Thi800 said:

I have chat with customer service via fb they told me I can cancel direct debit anytime after 26th June but today I have chat with customer service via online banking they told me direct debit must activate and  they'd need to remain active until the end of June 25 when the interest rate returns to standard.So very annoying and confused.

There's absolutely nothing in the T&Cs of the offer about needing to keep the DDs active after the switch, just that you need to switch 2x DDs to VM in the first place. I'm curious where they've gotten that info from, especially since it seems there are multiple CS agents reading from the same script. Here's hoping they will clarify everyone's eligibility, but worst case we should know by the end of the month when July's interest is paid. 

danny13579

Thi800 said:

I have chat with customer service via fb they told me I can cancel direct debit anytime after 26th June but today I have chat with customer service via online banking they told me direct debit must activate and  they'd need to remain active until the end of June 25 when the interest rate returns to standard.So very annoying and confused.

That makes no sense whatsoever. Nothing will be happening on 25th June, the bonus doesn't end until 30th June. Also there's no interest rate returning to standard. The interest rate remains standard, currently at 2% (reducing to 1% on 1st August) and may change again over the year. For people partaking in this offer an extra 10% fixed interest is being added on amounts up to £1,000 for July and (we think) an extra 11% for the rest of the year when the rate reduces to 1%.

The terms don't say anything about the direct debits other than they have to be carried across as part of the switch.

The customer service agents seem to give different answers all the time. A customer service agent and a Facebook agent both said that from 1st August the rate will be 1% + 10% bonus. Then someone from Virgin (no idea who) told someone from MSE that from 1st August the rate will be 1% + 10% bonus + 1% bonus. 
So we'll see what happens at the end of August! 

Ghostcrawler

danny13579 said:

Thi800 said:

I have chat with customer service via fb they told me I can cancel direct debit anytime after 26th June but today I have chat with customer service via online banking they told me direct debit must activate and  they'd need to remain active until the end of June 25 when the interest rate returns to standard.So very annoying and confused.

That makes no sense whatsoever. Nothing will be happening on 25th June, the bonus doesn't end until 30th June. Also there's no interest rate returning to standard. The interest rate remains standard, currently at 2% (reducing to 1% on 1st August) and may change again over the year. For people partaking in this offer an extra 10% fixed interest is being added on amounts up to £1,000 for July and (we think) an extra 11% for the rest of the year when the rate reduces to 1%.

The terms don't say anything about the direct debits other than they have to be carried across as part of the switch.

The customer service agents seem to give different answers all the time. A customer service agent and a Facebook agent both said that from 1st August the rate will be 1% + 10% bonus. Then someone from Virgin (no idea who) told someone from MSE that from 1st August the rate will be 1% + 10% bonus + 1% bonus. 
So we'll see what happens at the end of August! 

I may be wrong but I think Thi800 means June 2025

danny13579

Ghostcrawler said:

I may be wrong but I think Thi800 means June 2025

Sorry, yes, misread for June 25th. 🤦‍♂️ I've struck out that line from my post. 👍

goatfaced

Has anybody had their snoop voucher without having to chase it up?

sparky0138

goatfaced said:

Has anybody had their snoop voucher without having to chase it up?

I got the £5 voucher without chasing it up. I think the e-mail came a day after I noted it was due.

Nasqueron

sparky0138 said:

goatfaced said:

Has anybody had their snoop voucher without having to chase it up?

I got the £5 voucher without chasing it up. I think the e-mail came a day after I noted it was due.

It should be £30? I had to message them in the app (in reality it just opens an email for you) but it was resolved by them the next day

Rawrzy

I just got my statement through digitally and it says the 12% is active at the bottom of it. So guess that finally confirms it.

PRAISETHESUN

Rawrzy said:

I just got my statement through digitally and it says the 12% is active at the bottom of it. So guess that finally confirms it.

Thanks for mentioning this. I got an email this morning saying my statement was ready and this has reminded me to check it. I also have a interest rate of 12% listed

For what it's worth, I also cancelled my DDs to move them elsewhere as soon as the first payment was taken in May following the switch completing.