Virgin 1 Year Fixed Rate ISA 5.05%

flaneurs_lobster

This is fine, no use of the current account is required, how I have my 5.05 ISA (and the 10% saver).

PRAISETHESUN

art123_2 said:

You either need to have, or open, a Virgin Current A/C in order to qualify for the 1 year fixed ISA at 5.05%.  I am considering opening a joint Current A/C with my wife to enable us to both transfer in our ISAs, which are maturing soon.  However, I dont want to switch over our Current Account to Virgin, and I have read the terms and conditions and can't see anything about having to pay in x amount monthly, or transfer direct debits over, in order to qualify for this deal.  So, my question is, can I simply open a Virgin Current Account, leave £1 in it and not use it, purely for the purpose of getting the higher 5.05% ISA rate.

Umm... then don't switch? No need to move your banking to VM if you don't want to. You can open a joint account and leave it empty, but that is enough to qualify you for current account exclusive savings accounts

easyasonetwothree

pookey said:

Does anyone know if we can have more then one of these accounts please? 

No you can't, but why would you want two?

pookey

easyasonetwothree said:

pookey said:

Does anyone know if we can have more then one of these accounts please? 

No you can't, but why would you want two?

I can no longer top up the one i opened for a transfer. 
Also wanted to keep this year allowance and previous seperate if possible 

flaneurs_lobster

pookey said:

easyasonetwothree said:

pookey said:

Does anyone know if we can have more then one of these accounts please? 

No you can't, but why would you want two?

I can no longer top up the one i opened for a transfer. 
Also wanted to keep this year allowance and previous seperate if possible 

I opened an Issue 12 this year and added £1 to hold it for funding that I eventually put elsewhere. 

When Chip dropped their rates the 12 was closed so opened issue 14 and transferred. The £1 in 12 was returned and a letter confirmed this (and that VM don't allow >1 new funding in a year).

RG2015

pookey said:

Does anyone know if we can have more than one of these accounts please? 

Do you already have the current VM Exclusive 5.05%, Issue 14? If so you can deposit into it up to 30 days after they withdraw the product.

Edit.
I have just checked and Issues 12 and 13 were also 5.05%. Issue 12 was withdrawn on 30 May but Issue 13 was only withdrawn on 1st August so will still take deposits up to 30 August.

badger09

easyasonetwothree said:

pookey said:

Does anyone know if we can have more then one of these accounts please? 

No you can't, but why would you want two?

BIB Source please 
As for why? they are several reasons for wanting more than one. 

RG2015

badger09 said:

easyasonetwothree said:

pookey said:

Does anyone know if we can have more then one of these accounts please? 

No you can't, but why would you want two?

BIB Source please 
As for why? they are several reasons for wanting more than one. 

On VM headline details

Additional information 

• You can only subscribe to one Virgin Money Cash ISA in each tax year. But you can also transfer all or part of previous tax year’s Cash ISA into this account. Check the Terms for more info.

https://uk.virginmoney.com/savings/products/1_year_fixed_rate_cash_isa_exclusive_issue_14/#additional-information

pookey

RG2015 said:

pookey said:

Does anyone know if we can have more than one of these accounts please? 

Do you already have the current VM Exclusive 5.05%, Issue 14? If so you can deposit into it up to 30 days after they withdraw the product.

Edit.
I have just checked and Issues 12 and 13 were also 5.05%. Issue 12 was withdrawn on 30 May but Issue 13 was only withdrawn on 1st August so will still take deposits up to 30 August.

I have issue 13 but RS matures in September. So can i open issue 14 for that? I didn't realise they had so many issues in a short length of time 😅

pscotty

The link no longer goes to issue 14 @5.05%,  but to issue 15 @ 4.75%