Virgin Money 10.38% regular monthly saver

LoopySnooker

SnowMan said:

I sent them a secure message asking them to close my zero balance everyday saver having moved the maturing regular saver proceeds (bar the final accrued interest) out first.

Got a message back saying they couldn't close the account via that route and telling me to ring in. Rang up and they have now closed the account. Call took about 9 minutes, not due to waiting times but because of time to get through automated system and then the closing process was a bit laborious.

Can I just check, has this actually gone through completely ? I did mine via chat on Monday and the customer service assistant said it had been closed but the account is still sitting there and no interest has been paid into Virgin current account.

Got to say, considering it’s 2025 it does seem ridiculously difficult and long winded. In my opinion the interest should have been finalised when the Regular Saver account matured at the end of July.

Speculator

My wife and I requested closure Friday and still waiting.

Also, daughter turned 18 recently and helped her open Virgin and 1st Direct current a/cs for their regular savers. She just tried to make her 1st transfer from Virgin to 1st Direct and her payment has been put on hold. She now has to phone their fraud dept.

Told her to never use her Virgin current a/c again for any transactions.

Nasqueron

LoopySnooker said:

SnowMan said:

I sent them a secure message asking them to close my zero balance everyday saver having moved the maturing regular saver proceeds (bar the final accrued interest) out first.

Got a message back saying they couldn't close the account via that route and telling me to ring in. Rang up and they have now closed the account. Call took about 9 minutes, not due to waiting times but because of time to get through automated system and then the closing process was a bit laborious.

Can I just check, has this actually gone through completely ? I did mine via chat on Monday and the customer service assistant said it had been closed but the account is still sitting there and no interest has been paid into Virgin current account.

Got to say, considering it’s 2025 it does seem ridiculously difficult and long winded. In my opinion the interest should have been finalised when the Regular Saver account matured at the end of July.

You can't do it via chat, they tell you to call but you can apply the account closure online via the form, it's to the point now though I will give it to tomorrow then call up as it shouldn't take that long!

ColdIron

I did it online Friday, no confirmation email. Chased it yesterday and no sign of request so CSR did it again. 3 - 5 days. No real rush I guess for 20 squid but with a year to plan for it, it feels like an unforced error

LoopySnooker

Nasqueron said:

LoopySnooker said:

SnowMan said:

I sent them a secure message asking them to close my zero balance everyday saver having moved the maturing regular saver proceeds (bar the final accrued interest) out first.

Got a message back saying they couldn't close the account via that route and telling me to ring in. Rang up and they have now closed the account. Call took about 9 minutes, not due to waiting times but because of time to get through automated system and then the closing process was a bit laborious.

Can I just check, has this actually gone through completely ? I did mine via chat on Monday and the customer service assistant said it had been closed but the account is still sitting there and no interest has been paid into Virgin current account.

Got to say, considering it’s 2025 it does seem ridiculously difficult and long winded. In my opinion the interest should have been finalised when the Regular Saver account matured at the end of July.

You can't do it via chat, they tell you to call but you can apply the account closure online via the form, it's to the point now though I will give it to tomorrow then call up as it shouldn't take that long!

That’s I was told first time on chat but on Monday, the CS assistant said they could close it, then went through the closure process, asked me to completely empty all remaining funds in the account and confirmed it had been closed. Which doesn’t seem to have happened.

Just to add, I also filled in the online form last Friday but the account is still live on my App. What a complete faff !

LoopySnooker

ColdIron said:

I did it online Friday, no confirmation email. Chased it yesterday and no sign of request so CSR did it again. 3 - 5 days. No real rush I guess for 20 squid but with a year to plan for it, it feels like an unforced error

We recently had an MBNA account mature and their process is way ahead of this Virgin mess. A few weeks before they ask you to check your linked account is still correct. Then one week before maturity they send this via email:

Your maturity options

You can select any of these options, and we'll take care of it for you.

• Open a new Fixed Saver 1 Year and move all your money, including any interest earned, into this account.
• Send any interest earned to your nominated account and open a new Fixed
  Saver 1 Year with the amount you originally saved.
• Close your account and send all the money, including any interest earned, to your nominated account.

If you open a new account with us, you won't be able to add extra money into it.

If you don't select an option, we'll automatically close your account on 01-08-2025. We'll send your savings and any interest to your nominated account.

Money cleared on the morning of maturity day. Thought it may be of interest for anyone considering MBNA.

subjecttocontract

For those of us with experience of dealing with Virgin we know to hope for the best, expect the worst and when it goes wrong just say I told you so. But they did offer a 10% account, something none of the others have done.

Nasqueron

LoopySnooker said:

Nasqueron said:

LoopySnooker said:

SnowMan said:

I sent them a secure message asking them to close my zero balance everyday saver having moved the maturing regular saver proceeds (bar the final accrued interest) out first.

Got a message back saying they couldn't close the account via that route and telling me to ring in. Rang up and they have now closed the account. Call took about 9 minutes, not due to waiting times but because of time to get through automated system and then the closing process was a bit laborious.

Can I just check, has this actually gone through completely ? I did mine via chat on Monday and the customer service assistant said it had been closed but the account is still sitting there and no interest has been paid into Virgin current account.

Got to say, considering it’s 2025 it does seem ridiculously difficult and long winded. In my opinion the interest should have been finalised when the Regular Saver account matured at the end of July.

You can't do it via chat, they tell you to call but you can apply the account closure online via the form, it's to the point now though I will give it to tomorrow then call up as it shouldn't take that long!

That’s I was told first time on chat but on Monday, the CS assistant said they could close it, then went through the closure process, asked me to completely empty all remaining funds in the account and confirmed it had been closed. Which doesn’t seem to have happened.

Just to add, I also filled in the online form last Friday but the account is still live on my App. What a complete faff !

I had a letter from them years back saying I had some old dormant account that was empty and could they close it, I rang up as they requested so they could close and to request not to send me any useless old paperwork, I think I got something silly like 20p interest and they still didn't close the account

Rudyson

subjecttocontract said:

But they did offer a 10% account, something none of the others have done.

Something we all forget when it comes to complaining. 

CricketLady

Virgin sent me a survey today, asking about my recent experience on their online services.  I gave my feedback about how I filled the online form in to close my account on Friday, it is now Wednesday and the account is still showing etc. etc., and also pointed out that my Progressive Building Society regular saver account matured this morning, I requested closure of the account at 8.06am and received the funds in my linked account just over three hours later.

Being a nice person I did tell them that I was grateful for the 10% though, but with the feedback (when asked what they could do better in future) that maybe they could give Progressive Building Society a quick ring to share notes.