Virgin Money 10.38% regular monthly saver

boingy

trickydicky14 said:

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.

Then they have either changed the rules or have stopped policing them. I had a £150 deposit rejected from an external account. So I changed it to a £1 internal deposit and a £149 external one.  Maybe they realised how daft that was.... 

dealyboy

boingy said:

trickydicky14 said:

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.

Then they have either changed the rules or have stopped policing them. I had a £150 deposit rejected from an external account. So I changed it to a £1 internal deposit and a £149 external one.  Maybe they realised how daft that was.... 

I do the same as boingy for my Natwest and RBS DRS accounts ... £1 SO and £149 xfr from current account in each case.

https://www.natwest.com/savings/digital-regular-saver.html#opening

trickydicky14

dealyboy said:

boingy said:

trickydicky14 said:

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.

Then they have either changed the rules or have stopped policing them. I had a £150 deposit rejected from an external account. So I changed it to a £1 internal deposit and a £149 external one.  Maybe they realised how daft that was.... 

I do the same as boingy for my Natwest and RBS DRS accounts ... £1 SO and £149 xfr from current account in each case.

https://www.natwest.com/savings/digital-regular-saver.html#opening

I have to say I missed that in the T&C still my 3rd payment is about to go in to my account and no issues so far. I can only think it's not being policed fingers crossed.

jameseonline

I just transfer £150 each from my Virgin Money account & into my NatWest & RBS current accounts then transfer to the digital savers

wiseonesomeofthetime

Mine go direct from Monzo into the Digital Regular Saver on first of every month. Never had an issue with interest not being paid, or deposits being rejected 🤷‍♂️

friolento

Natwest and RBS do force you during the DRS application to set up an SO from one of your current accounts with them. You can delete that SO straight away if you prefer to feed the DRS from a different bank. Mine have always received the full £150 from an external account.

Amoux

I'm already a VM customer, but I haven't been able to open one of these RS. I just get this technical error once I submit the application. Has anyone else had this?

I called them up and they cannot work out what the issue is, but they've submitted the problem to the tech team. 

friolento

When you say you are already a VM customer, do you mean you do have a current account with Virgin Money which was opened on or after 4 December 2019?

I got that error when I tried applying on the off-chance that the current account pre-req would not be enforced but it is.

Amoux

Ah thanks @friolento - I've sorted it now. It turns out my account was closed even though I could see it in the mobile app. 

I must have switched it but it didn't erase the account from my app. I have so many different bank accounts, it's difficult to keep track of things 

eskbanker

pookey said:

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? 

Yes, Excel - it was just quickly knocked up for the purposes of getting a rough idea of interest payments so could undoubtedly be refined further, especially when the end result differs from VM's own figures by a few quid!