Virgin Money 10.38% regular monthly saver

jameseonline

boingy said:

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. 

The only thought I have is they should have seen coming, going forward they need to not have stupid quarterly payments, pay everything at maturity, have an instant close option like Nationwide & possibly get rid of the Everyday Saver if you already have a linked saver

jameseonline

subjecttocontract said:

Don't Nationwide own Virgin now. They made enough fuss about what a great move it was at the time, ignoring all the critics. Therefore the 'buck' must stop with them. Can't be doing their reputation any good. Virgin didn't really have a reputation to uphold in the first place and it's a shame some of that seems to be sliding in the direction of Nationwide.

Yes Nationwide now own Virgin however it's going to take a while because Virgin isn't just Virgin, it's a mix of several companies/brands (Clydesdale, Yorkshire, B, Northern Rock, the original Virgin etc) & Clydesdale never managed to roll everything into 1 system or whatever, which is why you have several logins based on what you want to do with Virgin, they partially blamed COVID for taking longer than expected.

masonic

jameseonline said:

boingy said:

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. 

The only thought I have is they should have seen coming, going forward they need to not have stupid quarterly payments, pay everything at maturity, have an instant close option like Nationwide & possibly get rid of the Everyday Saver if you already have a linked saver

Quarterly interest would have been fine if the interest periods were aligned with account maturity. It takes a special kind of stupid to have an offset.

jameseonline said:

subjecttocontract said:

Don't Nationwide own Virgin now. They made enough fuss about what a great move it was at the time, ignoring all the critics. Therefore the 'buck' must stop with them. Can't be doing their reputation any good. Virgin didn't really have a reputation to uphold in the first place and it's a shame some of that seems to be sliding in the direction of Nationwide.

Yes Nationwide now own Virgin however it's going to take a while because Virgin isn't just Virgin, it's a mix of several companies/brands (Clydesdale, Yorkshire, B, Northern Rock, the original Virgin etc) & Clydesdale never managed to roll everything into 1 system or whatever, which is why you have several logins based on what you want to do with Virgin, they partially blamed COVID for taking longer than expected.

They've allowed 5 years to carve what they need out of the carcass before they bury it and let it rot. Here's hoping it is quicker than that.

NewPieman

xylophone said:

Now been told I need to go to a branch......."additional verification"..... 

How far away is the nearest branch.......

125 miles away!!!! I had to look it up.......when I told him that, he went away and came back a few mins later and said "We will send you a letter with some additional steps - read the letter and then call us!" At that point, I said I want a Manager discusssion and wanted to escalate this to a complaint......56 mins!

xylophone

My local branch used to be a twenty minute walk away.......now a visit would require a drive lasting a couple of hours.....

Scrounger

NewPieman said:

xylophone said:

Now been told I need to go to a branch......."additional verification"..... 

How far away is the nearest branch.......

125 miles away!!!! I had to look it up.......when I told him that, he went away and came back a few mins later and said "We will send you a letter with some additional steps - read the letter and then call us!" At that point, I said I want a Manager discusssion and wanted to escalate this to a complaint......56 mins!

Good decision, that should get it resolved fairly quickly (and with some extra £££). 

I went through something similar.  Good luck!


Scrounger

pookey

What's the best way to close the account and get the remaining interest please?  I tried to read through on the thread but I see everyone is having a lot of issues 

wmb194

pookey said:

What's the best way to close the account and get the remaining interest please?  I tried to read through on the thread but I see everyone is having a lot of issues 

Use the account closure form in the browser based internet banking - look in the settings menu, top right. Don't worry that the form says it's to close current accounts, it'll also work for savings accounts.

jameseonline

Can someone remind me when the last lot of interest is due?

ColdIron

jameseonline said:

Can someone remind me when the last lot of interest is due?

End of September