Virgin Money 12%

WillPS

danny13579 said:

WillPS said:

Interesting way of structuring a switch bonus, but if you view it as £100 bonus with the condition they have £1000 of your money for a whole year it feels a lot less generous.

boingy said:

Yep. I saw it and thought "nice marketing".

So if this wasn't a switching offer, i.e. they advertise that you just need to open an M+ account before the end of May and they're offering 12% interest on £1,000 from July to June, would you not consider this a good offer?

Yes of course, most definitely... but that's irrelevant, because it is a switching bonus.

boingy

danny13579 said:

WillPS said:

Interesting way of structuring a switch bonus, but if you view it as £100 bonus with the condition they have £1000 of your money for a whole year it feels a lot less generous.

boingy said:

Yep. I saw it and thought "nice marketing".

So if this wasn't a switching offer, i.e. they advertise that you just need to open an M+ account before the end of May and they're offering 12% interest on £1,000 from July to June, would you not consider this a good offer?

It's still free money, just not quite as much as most other switching bonuses and only payable across 12 months and only if you keep a minimum balance of £1000 across that time. So they've managed to be less generous but generate an eye-catching headline of 12%. Nice marketing.

Bazzalona13295

Regarding holding out for a better offer that may or may not materialise......

A bird in the hand is worth two in the bush, I'm grabbing it.

eskbanker

Bazzalona13295 said:

A bird in the hand is worth two in the bush, I'm grabbing it.

Sounds like a Donald Trump quote....

daeargwr

You don't need to fund the £1000 during the switch do you?  I can transfer that in from 30 June to maximise earning interest on it elsewhere in the meantime?

danny13579

daeargwr said:

You don't need to fund the £1000 during the switch do you?  I can transfer that in from 30 June to maximise earning interest on it elsewhere in the meantime?

That's correct.

poshrule_uk

I think I will get the offer as I think it's unlikely Virgin will do a straight up cash switch.

If another bank offers a switch in the meantime I will just switch out of Virgin but I may as well take it while the money is being offered.

I have had most switch's now so it's really just waiting for them to come around again when dates are moved forward.

Bridlington1

Snoop are offering a £30 amazon gift card if you open an M Plus current account through them. This can be had in addition to the switch offer.

They also have a refer a friend offer in which you'll both get a £5 amazon gift card. Note do NOT use this forum to request/exchange referral links.

MACKEM99

badger09 said:

MACKEM99 said:

I tried to open a virgin current account a few years ago but was put off by the technical aspect on the application.  Is it still the same?  

Technical aspect?

They wanted me to sent them electronically things like copy of passport even though I already had an Is a with them!

sheffieldeagle

Bridlington1 said:

Snoop are offering a £30 amazon gift card if you open an M Plus current account through them. This can be had in addition to the switch offer.

They also have a refer a friend offer in which you'll both get a £5 amazon gift card. Note do NOT use this forum to request/exchange referral links.

Tried looking for details but can only find an old offer. Do you have a link to the details or is it in their app?

Many thanks