Virgin Money 10.38% regular monthly saver

xylophone

They told me I can only pay into the regular saver via my Virgin bank account, is this correct?

The account opening form asked how the account would be funded - there was no stipulation that it  had to be funded from another Virgin account.

masonic

xylophone said:

They told me I can only pay into the regular saver via my Virgin bank account, is this correct?

The account opening form asked how the account would be funded - there was no stipulation that ir  had to be funded from another Virgin account.

According to the T&C this is nonsense, and in practice several of us have funded externally without issue.

trickydicky14

Hammer_Time said:

Hi All, I opened my bank account today and also the regular saver, I phoned Virgin to ask if I could pay into the saver using a monthly standing order from Santander. They told me I can only pay into the regular saver via my Virgin bank account, is this correct?

News to me, I funded my saver from Halifax, credited instantly and that was 2 days ago.

fun4everyone

I'd like to thank the OP for bringing this account to my attention. I've now opened and funded it and very happy to have found it. It's the best one out there and I personally am quite surprised to see it launched. Will we see more like this? I'd think likely not, but I live in hope. A lot of lol storys about how bad the account opening process is on the Virgin Money platform. I also ran into some issues and personally uncovered some bugs in the process I didn't see mentioned yet (would be a rare event). I also had the situation of having online logins from years ago but having no accounts attached........because I switched the current account away to take advantage of the RBS offer back in Feb/March. So I needed to reopen a current account, hopefully using the old login, and then get the regular saver. It was not smooth sailing but it did work in the end. As for this

xylophone said:

They told me I can only pay into the regular saver via my Virgin bank account, is this correct?

I funded it initially from a current account I have at a completely different bank. No issues (yet, the moneys been in for 24 hours only). I also set up the standing order from the external account. Hopefully should be ok.

Hammer_Time

trickydicky14 said:

Hammer_Time said:

Hi All, I opened my bank account today and also the regular saver, I phoned Virgin to ask if I could pay into the saver using a monthly standing order from Santander. They told me I can only pay into the regular saver via my Virgin bank account, is this correct?

News to me, I funded my saver from Halifax, credited instantly and that was 2 days ago.

Thank you all for confirming that, I did say to them it stated that in the T&C. I guess its the luck of the draw that you speak to someone who gives you the correct information.

fun4everyone

Hammer_Time said:

Thank you all for confirming that, I did say to them it stated that in the T&C. I guess its the luck of the draw that you speak to someone who gives you the correct information.

No worries. I actually went and checked the official T&Cs again, the one I got sent via email on account opening. Absolutely nowhere does it say I have to pay into the regular saver from my Virgin current account only. Infact it even states someone else can pay into my regular saver for me. If anyone from Virgin told me I had to pay in from my Virgin current account I would ask them really where does it say that in the terms.

pookey

eskbanker said:

WLewer98 said:

Virgin state in the summary box "We’ll add any interest on the last working day in March, June, September, and December."

I presume then that only the June interest payment and final interest payment on maturity will count towards PSA for 2025/26? Can anyone provide an estimate of how much interest will be paid in 2025/26 from this account if it's funded fully each month? TIA

I make it about £90 but much will depend on exact deposit dates, etc - I didn't factor in exact numbers of days in this either, just using a twelfth of 10% for monthly gross interest:

This is brilliant. Did you set it up in Excel? 

cutestkids

dingling68 said:

cutestkids said:

Just to say I received  letter in the post this morning with a code. After going to the resume my application and entering the code the regular saver appeared in my banking app immediately. Hope you have got sorted too.

Thank you for letting me know. I had to upload my ID for the third time today due to isues, so who knows if I will ever get this account opened!

Oh, no
 Fingers crossed it happens soon. Tbey really don't make it easy do they?

boingy

I funded this month by transfer from a Virgin Current but from next month it will be a standing order from Kroo. I'll let you know if it fails but I don't expect it to based on the Virgin T&Cs

Elsewhere, my First Direct regular saver can only be funded from their current account and when I had NatWest and RBS regular savers at least one pound had to come from their accounts each month but the rest could come directly from elsewhere. It's just daft for them to add those extra rules.

trickydicky14

boingy said:

I funded this month by transfer from a Virgin Current but from next month it will be a standing order from Kroo. I'll let you know if it fails but I don't expect it to based on the Virgin T&Cs

Elsewhere, my First Direct regular saver can only be funded from their current account and when I had NatWest and RBS regular savers at least one pound had to come from their accounts each month but the rest could come directly from elsewhere. It's just daft for them to add those extra rules.

I fund my NatWest digital saver from my Halifax account with no problems.