Virgin 1 Year Fixed Rate ISA 5.05%

Wombat

As the title says, Virgin Money are offering a 1 year fixed rate cash ISA with a rate of 5.05%:

https://uk.virginmoney.com/savings/products/1_year_fixed_rate_cash_isa_exclusive_issue_14/

Seems to beat the best rate offered in the MSE newsletter?

trickydicky14

Wombat said:

As the title says, Virgin Money are offering a 1 year fixed rate cash ISA with a rate of 5.05%:

https://uk.virginmoney.com/savings/products/1_year_fixed_rate_cash_isa_exclusive_issue_14/

Seems to beat the best rate offered in the MSE newsletter?

It's been available for a while, It's good as you have up to 30 days after it's been pulled to fund and only 60 days loss of interest if you need to take money out. I opened one last week, just hope it's around for a while as I'm waiting for some fixed bonds to mature to fund it fully.

soulsaver

@trickydicky14 What is the maturity dates for the other funds? 

qsk

You need a VM current account.

surreysaver

trickydicky14 said:

Wombat said:

As the title says, Virgin Money are offering a 1 year fixed rate cash ISA with a rate of 5.05%:

https://uk.virginmoney.com/savings/products/1_year_fixed_rate_cash_isa_exclusive_issue_14/

Seems to beat the best rate offered in the MSE newsletter?

It's been available for a while, It's good as you have up to 30 days after it's been pulled to fund and only 60 days loss of interest if you need to take money out. I opened one last week, just hope it's around for a while as I'm waiting for some fixed bonds to mature to fund it fully.

Its a pain to do ISA transfers, though. You can so it online as part of the application process, but after that have to ring up and wait ages for someone to answer the phone 

flaneurs_lobster

surreysaver said:

Its a pain to do ISA transfers, though. You can so it online as part of the application process, but after that have to ring up and wait ages for someone to answer the phone 

Not too bad I found. Opened VM ISA 8/8, my Chip cash ISA transfer request was a paper form which I completed in-branch on 9/8 (my printer's on the fritz). You need sort code/account number from the Chip app (find it under "Add Funds"). Couple of emails from Chip over the last week and the funds are now in my Virgin ISA as of today, 16/8.

LosRom

BEWARE - I've had major problems transferring my ISA out of Virgin Money!
After 3 months they still refused the give a transfer out date !!
All avenues of contact return to the 'customer service' line who in turn claim to be awaiting answers from elsewhere in the organisation.

Atrocious service !!

Took an email to the CEO to achieve any progress.

soulsaver

How are people finding VM transfers from their maturing VM fixed Isas to a VM fix later issue? 
It should be done in minutes, shouldn't it? Is that happening? Or are they still screwing it up?

Asking because I've got a couple maturing shortly and I had a bit of mare with them last year when they closed a fix ISA early and charged a penalty when the request was to transfer at maturity.

I gained from the resolution but I'd prefer it all happened smoothly.

Is it any better now?

littlemissbossy

soulsaver said:

How are people finding VM transfers from their maturing VM fixed Isas to a VM fix later issue? 
It should be done in minutes, shouldn't it? Is that happening? Or are they still screwing it up?

Asking because I've got a couple maturing shortly and I had a bit of mare with them last year when they closed a fix ISA early and charged a penalty when the request was to transfer at maturity.

I gained from the resolution but I'd prefer it all happened smoothly.

Is it any better now?

@soulsaver

I requested a transfer of my VM fixed ISA on the 18th August, my ISA doesn't mature until 24th Sept.  So far so good, they haven't closed it early..... I'll come back to you if they do.

sparkiemalarkie

My Virgin ISA matures on 30th September.
Can I open a 5.05% fixed rate Virgin ISA and request a transfer of the maturing ISA into this one even though it's more than 30 days away?

tia

sx

flaneurs_lobster

sparkiemalarkie said:

My Virgin ISA matures on 30th September.
Can I open a 5.05% fixed rate Virgin ISA and request a transfer of the maturing ISA into this one even though it's more than 30 days away?

tia

sx

Here's the bit of the VM Cash ISA xfer form that (I think) says that you can apply up to six weeks before maturity

Where a period of notice is needed for closure/part transfer of the existing Cash ISA or the existing Cash ISA is a fixed term deposit that’s not reached its maturity date, I give my consent to either:  

Serve notice before this instruction can be processed. The notice period must be no longer than six weeks from the date of the application.

or......