Virgin Money 10.38% regular monthly saver

RG2015

I have just seen that there are numerous comments on the Regular Saver thread. One of them mentions that the Virgin Money email says that the account name will change on 2nd August.

This was in the bit highlighted in red and I missed it when I read it the first time.

friolento

RG2015 said:

SamDude said:

RG2015 said:

Mine is still showing as a regular saver with an interest rate of 10%.

Clearly 10% was a great rate, the like of which we are unlikely to see again under Nationwide, but I will not miss the quirky VM systems and accounts.

Same - still a regular saver for me.
Can I move the money now and wait for it to mature (and then close the easy access account to withdraw the remaining interest)?

The regular saver never had any restrictions on withdrawing money, so yes, you can withdraw the current balance.

I calculate that my accrued interest for July is £26.65.

I received £24.94 but I did request closure on Wednesday.

Nasqueron

friolento said:

RG2015 said:

SamDude said:

RG2015 said:

Mine is still showing as a regular saver with an interest rate of 10%.

Clearly 10% was a great rate, the like of which we are unlikely to see again under Nationwide, but I will not miss the quirky VM systems and accounts.

Same - still a regular saver for me.
Can I move the money now and wait for it to mature (and then close the easy access account to withdraw the remaining interest)?

The regular saver never had any restrictions on withdrawing money, so yes, you can withdraw the current balance.

I calculate that my accrued interest for July is £26.65.

I received £24.94 but I did request closure on Wednesday.

Did you call or manage to do it via the app?

I tried to close it using their chat bot but it wouldn't do it so I tried a secure message to do it as the app implies you can, just trying to avoid having to call during work

OrangeBlueGreen

Nasqueron said:

friolento said:

RG2015 said:

SamDude said:

RG2015 said:

Mine is still showing as a regular saver with an interest rate of 10%.

Clearly 10% was a great rate, the like of which we are unlikely to see again under Nationwide, but I will not miss the quirky VM systems and accounts.

Same - still a regular saver for me.
Can I move the money now and wait for it to mature (and then close the easy access account to withdraw the remaining interest)?

The regular saver never had any restrictions on withdrawing money, so yes, you can withdraw the current balance.

I calculate that my accrued interest for July is £26.65.

I received £24.94 but I did request closure on Wednesday.

Did you call or manage to do it via the app?

I tried to close it using their chat bot but it wouldn't do it so I tried a secure message to do it as the app implies you can, just trying to avoid having to call during work

On the Regular Saver thread, some appear to have had success by using the "Close an account" link that is available when logged in through online banking (not on app). I have now completed the form and awaiting the closure. It says it's for current accounts when you complete the form but it looks like that's not the case - maybe it's now for all accounts but they've forgotten to change the wording.

Bobblehat

OrangeBlueGreen said:

Nasqueron said:

friolento said:

RG2015 said:

SamDude said:

RG2015 said:

Mine is still showing as a regular saver with an interest rate of 10%.

Clearly 10% was a great rate, the like of which we are unlikely to see again under Nationwide, but I will not miss the quirky VM systems and accounts.

Same - still a regular saver for me.
Can I move the money now and wait for it to mature (and then close the easy access account to withdraw the remaining interest)?

The regular saver never had any restrictions on withdrawing money, so yes, you can withdraw the current balance.

I calculate that my accrued interest for July is £26.65.

I received £24.94 but I did request closure on Wednesday.

Did you call or manage to do it via the app?

I tried to close it using their chat bot but it wouldn't do it so I tried a secure message to do it as the app implies you can, just trying to avoid having to call during work

On the Regular Saver thread, some appear to have had success by using the "Close an account" link that is available when logged in through online banking (not on app). I have now completed the form and awaiting the closure. It says it's for current accounts when you complete the form but it looks like that's not the case - maybe it's now for all accounts but they've forgotten to change the wording.

It invites you to enter the sort code and account number, so you can attempt to close any Virgin account using that form. So be careful to choose the correct account! It accepted my Regular Saver details, having emptied it beforehand and allows you to enter the account details that any residual funds (interest) can be paid to.

Nasqueron

OrangeBlueGreen said:

Nasqueron said:

friolento said:

RG2015 said:

SamDude said:

RG2015 said:

Mine is still showing as a regular saver with an interest rate of 10%.

Clearly 10% was a great rate, the like of which we are unlikely to see again under Nationwide, but I will not miss the quirky VM systems and accounts.

Same - still a regular saver for me.
Can I move the money now and wait for it to mature (and then close the easy access account to withdraw the remaining interest)?

The regular saver never had any restrictions on withdrawing money, so yes, you can withdraw the current balance.

I calculate that my accrued interest for July is £26.65.

I received £24.94 but I did request closure on Wednesday.

Did you call or manage to do it via the app?

I tried to close it using their chat bot but it wouldn't do it so I tried a secure message to do it as the app implies you can, just trying to avoid having to call during work

On the Regular Saver thread, some appear to have had success by using the "Close an account" link that is available when logged in through online banking (not on app). I have now completed the form and awaiting the closure. It says it's for current accounts when you complete the form but it looks like that's not the case - maybe it's now for all accounts but they've forgotten to change the wording.

Yes I have seen that now thanks, I completed the form, hopefully it'll sort it, pay the interest to the current account and then I can move it out!

Middle_of_the_Road

New Virgin regular saver launched.
Mentioned by @jaypers in the main thread.
https://uk.virginmoney.com/savings/products/regular_saver_exclusive_issue_3/

sausage_time

Middle_of_the_Road said:

New Virgin regular saver launched.
Mentioned by @jaypers in the main thread.
https://uk.virginmoney.com/savings/products/regular_saver_exclusive_issue_3/

Fantastic!  I have opened.  One of the questions is "Do you already have a Regular Saver Account".  I answered No even although the matured on account still shows as such.  Was accepted.  

Sunshine_and_Roses

I was told this morning that my account would be switched to a savings account paying 1.75%, but the interest for July would not be paid until September.  Not impressed.  I asked what would happen to the interest if I closed the account, but she did not know.  Does not give me much confidence. 

csw5780

Sunshine_and_Roses said:

I was told this morning that my account would be switched to a savings account paying 1.75%, but the interest for July would not be paid until September.  Not impressed.  I asked what would happen to the interest if I closed the account, but she did not know.  Does not give me much confidence. 

As you might expect, the interest is paid on account closure too.