Virgin Money 10.38% regular monthly saver

friolento

xylophone said:

The current account only permits £500 a day

This limitation only exists if you don’t have 2FA enabled. The easiest to get it enabled is to install the app, which is the obvious option for anyone with a smartphone. Other options are available.

friolento

trickydicky14 said:

Does anyone know if you have closed your now easy access Virgin account how long does it take to receive your interest. 

It took 24 hours for me

xylophone

The easiest to get it enabled is to install the app, which is the obvious option for anyone with a smartphone. Other options are available.

As previously stated, no smartphone.

No security token.

As for telephone banking, as explained in previous.

allegro120

Rheumatoid said:

allegro120 said:

xylophone said:

Today I've discovered that this rule is no longer enforced.  I've emptied my "05" platform online today. 

I was unable to withdraw more than £500 this morning. I do not have the app because I do not use a smartphone.

I shall check the on line log in page again now.

Strange, according to t&c you should be able to withdraw 2 x £500 per day per account (internal transfers don't count).

does this only apply to savings accounts? If its the current as well its a pretty hopeless current account!

It applies to current accounts and any savings accounts that allow external transfers (this includes RS).

friolento

xylophone said:

The easiest to get it enabled is to install the app, which is the obvious option for anyone with a smartphone. Other options are available.

As previously stated, no smartphone.

No security token.

As for telephone banking, as explained in previous.

In which case, you have chosen not to enable 2FA for yourself. That doesn't mean that "The current account only permits £500 a day" for everyone.

xylophone

In which case, you have chosen not to enable 2FA for yourself. That doesn't mean that "The current account only permits £500 a day" for everyone.

I stand reprimanded.  I am such a dinosaur!

Incidentally,  I wasn't aware that I was speaking for everyone, merely explaining my own situation....

MoneyMan01

To confirm, are the steps:

1) withdraw money from the now everyday saver
2) close the everyday saver account 

Then the interest owes shows immediately in the current account? 

badger09

MoneyMan01 said:

To confirm, are the steps:

1) withdraw money from the now everyday saver
2) close the everyday saver account 

Then the interest owes shows immediately in the current account? 

1 yes
2 you can only request closure online, not on the app
3 no. when you request closure, you nominate an account to receive closing interest. VM say they aim to process request in 2 working days. Closing internet will then appear in your nominated account

friolento

xylophone said:

In which case, you have chosen not to enable 2FA for yourself. That doesn't mean that "The current account only permits £500 a day" for everyone.

I stand reprimanded.  I am such a dinosaur!

Incidentally,  I wasn't aware that I was speaking for everyone, merely explaining my own situation....

I merely reacted to your post which makes it sound as if the daily transfer limit on all VM current accounts is £500. The reader should have known you mean that you have a £500 limit on your account 🤓

boingy

I'm a bit shocked that their online closure procedure requires me to type my name, address, sort code and acc no for closing account and sort code and acc no for closing balance to go to.

I'm blooming well logged in. They know who I am, where I live and which account I want to close and in my case I have a VM current account to receive the balance. That should have taken a couple of clicks to achieve. And in the case of a regular saver they could have asked us in advance what we want to do when it matures.