Virgin Money 10.38% regular monthly saver

7sefton

Scrounger said:

billn said:

Could somebody please tell me which form they are using to close an Everyday Saver. 
I have tried Live Chat twice and got contradicting information, first person pointed me to the current account form and the second one said you can't close the account online.

If you want some extra free money you could raise a complaint (and get your account closed in the process).

It worked for me  £££


Scrounger

Do you mind telling me how much compensation you got? I’m speaking to complaints tomorrow and don’t want to be short changed

Fingerbobs

ForumUser7 said:

kaMelo said:

gt94sss2 said:

boingy said:

It does seem that no-one at Virgin considered that having all of the 10% accounts mature on the same day might cause an overload of folks wanting to close the account on that day.

It's not new. Virgin have form in doing this with other accounts in the past including regular savers and fixed rate bonds. Even the latest regular saver that matured next August is the same.

They really just need an automated process to close accounts

They have an automated process, the form to close a current account works on savings accounts too. It's not instant, it takes a few days to happen but it does work, I've closed over a dozen savings accounts using it including this one

For the sake of a few pence in lost interest it really isn't worth the time and energy calling Virgin over it in my opinion but alas, from the length of this thread it seems patience is in short supply or some people have too much time on their hands.

How do we know it is automated? It’s probably the same team manually closing it in the background 

I was told on the app chat thingy that the Savings Team are working through a large backlog of account closures, so it's taking longer than the stated 5 working days to close accounts, but I was assured the account would be closed and the outstanding interest paid into my current account. From that I infer that it is a manual process for them. 

ForumUser7

Fingerbobs said:

ForumUser7 said:

kaMelo said:

gt94sss2 said:

boingy said:

It does seem that no-one at Virgin considered that having all of the 10% accounts mature on the same day might cause an overload of folks wanting to close the account on that day.

It's not new. Virgin have form in doing this with other accounts in the past including regular savers and fixed rate bonds. Even the latest regular saver that matured next August is the same.

They really just need an automated process to close accounts

They have an automated process, the form to close a current account works on savings accounts too. It's not instant, it takes a few days to happen but it does work, I've closed over a dozen savings accounts using it including this one

For the sake of a few pence in lost interest it really isn't worth the time and energy calling Virgin over it in my opinion but alas, from the length of this thread it seems patience is in short supply or some people have too much time on their hands.

How do we know it is automated? It’s probably the same team manually closing it in the background 

I was told on the app chat thingy that the Savings Team are working through a large backlog of account closures, so it's taking longer than the stated 5 working days to close accounts, but I was assured the account would be closed and the outstanding interest paid into my current account. From that I infer that it is a manual process for them. 

Yeah, I believe it is manual too

Scrounger

7sefton said:

Scrounger said:

billn said:

Could somebody please tell me which form they are using to close an Everyday Saver. 
I have tried Live Chat twice and got contradicting information, first person pointed me to the current account form and the second one said you can't close the account online.

If you want some extra free money you could raise a complaint (and get your account closed in the process).

It worked for me  £££


Scrounger

Do you mind telling me how much compensation you got? I’m speaking to complaints tomorrow and don’t want to be short changed

http://forums.moneysavingexpert.com/discussion/comment/81583100#Comment_81583100

Let us know how you get on.


Scrounger

ForumUser7

Scrounger said:

7sefton said:

Scrounger said:

billn said:

Could somebody please tell me which form they are using to close an Everyday Saver. 
I have tried Live Chat twice and got contradicting information, first person pointed me to the current account form and the second one said you can't close the account online.

If you want some extra free money you could raise a complaint (and get your account closed in the process).

It worked for me  £££


Scrounger

Do you mind telling me how much compensation you got? I’m speaking to complaints tomorrow and don’t want to be short changed

http://forums.moneysavingexpert.com/discussion/comment/81583100#Comment_81583100

Let us know how you get on.


Scrounger

Lol, took a minute to realise that was your username and not an insult to OP 😂

masonic

ForumUser7 said:

Scrounger said:

7sefton said:

Scrounger said:

billn said:

Could somebody please tell me which form they are using to close an Everyday Saver. 
I have tried Live Chat twice and got contradicting information, first person pointed me to the current account form and the second one said you can't close the account online.

If you want some extra free money you could raise a complaint (and get your account closed in the process).

It worked for me  £££


Scrounger

Do you mind telling me how much compensation you got? I’m speaking to complaints tomorrow and don’t want to be short changed

http://forums.moneysavingexpert.com/discussion/comment/81583100#Comment_81583100

Let us know how you get on.


Scrounger

Lol, took a minute to realise that was your username and not an insult to OP 😂

It makes for good cover, I wish I'd thought of it

Scrounger

ForumUser7 said:

Scrounger said:

7sefton said:

Scrounger said:

billn said:

Could somebody please tell me which form they are using to close an Everyday Saver. 
I have tried Live Chat twice and got contradicting information, first person pointed me to the current account form and the second one said you can't close the account online.

If you want some extra free money you could raise a complaint (and get your account closed in the process).

It worked for me  £££


Scrounger

Do you mind telling me how much compensation you got? I’m speaking to complaints tomorrow and don’t want to be short changed

http://forums.moneysavingexpert.com/discussion/comment/81583100#Comment_81583100

Let us know how you get on.


Scrounger

Lol, took a minute to realise that was your username and not an insult to OP 😂

No, I'm the only Scrounger on these boards (and try to live up to it when it comes to money saving or free stuff).


Scrounger

boingy

Spare a thought for the likely small number of staff at Virgin who are working through the closure requests. Not only have they got a huge workload but they will probably be under pressure from their boss because of all the complaints. 

billn

I would sympathize with the staff if they sorted out the advice they are giving customers, from reading this thread there are repeated instances of conflicting advice being given about how to close an account.

Rudyson

That's down to poor training, again not the fault of the front line staff.