Virgin Money 10.38% regular monthly saver

Digital_Payback

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/

Well spotted! Thanks for the info to you both. 
Opened and funded. 

This Virgin Money Reg. Saver pays interest on maturity or closure, not every 3 months like the last one. 

Probably better!

xylophone

 You are also free to withdraw the matured balance immediately upon maturity.

Just attempted this via on line banking - I was unable to do this (to linked account with Santander from which the regular payments to Virgin RS  had been made) on grounds that it exceeded the one off payment amount.

I resent having to waste time ringing Virgin.

csw5780

xylophone said:

 You are also free to withdraw the matured balance immediately upon maturity.

Just attempted this via on line banking - I was unable to do this (to linked account with Santander from which the regular payments to Virgin RS  had been made) on grounds that it exceeded the one off payment amount.

I resent having to waste time ringing Virgin.

There are no such limits on the app to any account and funds arrive via faster payment. 

MoneyMan01

Am I missing something? 

Why are people opening this at 6.5% when there are others (both fixed and variable) at around 7%?

Are you all opening this one in addition to those ones, with say Co-Op for example?

Middle_of_the_Road

MoneyMan01 said:

Am I missing something? 

Why are people opening this at 6.5% when there are others (both fixed and variable) at around 7%?

Are you all opening this one in addition to those ones, with say Co-Op for example?

Highly likely, lots of posters on here have from 20 to 40 regular savers.

Hattie627

MoneyMan01 said:

Am I missing something? 

Why are people opening this at 6.5% when there are others (both fixed and variable) at around 7%?

Are you all opening this one in addition to those ones, with say Co-Op for example?

Yes, in addition to the few accounts paying higher. 6.5% fixed is a good offering with rates predicted to drop between now and next August. 

friolento

csw5780 said:

xylophone said:

 You are also free to withdraw the matured balance immediately upon maturity.

Just attempted this via on line banking - I was unable to do this (to linked account with Santander from which the regular payments to Virgin RS  had been made) on grounds that it exceeded the one off payment amount.

I resent having to waste time ringing Virgin.

There are no such limits on the app to any account and funds arrive via faster payment. 

I think the withdrawal limits only apply to people who don’t use the app and can therefore not go through the additional authentication VM require

Nasqueron

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. 

They pay interest quarterly through the RS, it's just they started it in July which is problematic as you don't get the final month to September, if they did it in June start it would be fine. Just open a form on the web and request account closure

masonic

friolento said:

csw5780 said:

xylophone said:

 You are also free to withdraw the matured balance immediately upon maturity.

Just attempted this via on line banking - I was unable to do this (to linked account with Santander from which the regular payments to Virgin RS  had been made) on grounds that it exceeded the one off payment amount.

I resent having to waste time ringing Virgin.

There are no such limits on the app to any account and funds arrive via faster payment. 

I think the withdrawal limits only apply to people who don’t use the app and can therefore not go through the additional authentication VM require

I could not do it on the app (due to it crashing), but could do it on the website, so riddle me that!

friolento

masonic said:

friolento said:

csw5780 said:

xylophone said:

 You are also free to withdraw the matured balance immediately upon maturity.

Just attempted this via on line banking - I was unable to do this (to linked account with Santander from which the regular payments to Virgin RS  had been made) on grounds that it exceeded the one off payment amount.

I resent having to waste time ringing Virgin.

There are no such limits on the app to any account and funds arrive via faster payment. 

I think the withdrawal limits only apply to people who don’t use the app and can therefore not go through the additional authentication VM require

I could not do it on the app (due to it crashing), but could do it on the website, so riddle me that!

 But you still need to have the app to get the higher (than £500/day) withdrawal limit 🤓. You need to have confirmed your online login through the app. It’s the VM approach to 2FA for (some of) their online banking