Virgin 1 Year Fixed Rate ISA 5.05%

SamDude

Text from VirginMoney just now confirming this is now off sale (I had an incomplete application but didn't go through  with it because I already have an existing VM ISA).
The Fixed Rate Cash ISA Exclusive Issue 14 is now off sale "but you have until 11/09/2024 to finish your application".
You can add money until 5pm on 27/09/2024

Hattie627

SamDude said:

Text from VirginMoney just now confirming this is now off sale (I had an incomplete application but didn't go through  with it because I already have an existing VM ISA).
The Fixed Rate Cash ISA Exclusive Issue 14 is now off sale "but you have until 11/09/2024 to finish your application".
You can add money until 5pm on 27/09/2024

I applied yesterday for the VM Fixed Rate Cash ISA Exclusive Issue 14 and account now open. Glad I did it just before it was pulled. Transfer arranged of full proceeds from a maturing Charter Savings Bank FRISA on 6th September. No plans to deposit "new" ISA funds in this account as I have already subscribed £20K elsewhere. Just had a text from VM saying that deadline for paying money into the account is 5pm on 27th September.

badger09

RG2015 said:

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

The question that was asked, and the one I answered was ‘can you have more than 1 of these (FRISAs).’
My response was, yes, but you can only subscribe to 1. That is borne out by your quoted T&Cs. 

I was asking the poster who said ‘No’ to provide the source for their answer. They haven’t. 

Because their answer was wrong. 

soulsaver

Text from VM says re FR Exc ISA iss 14:  you have until 5pm 27/09 to add money. 

It doesn't say it but you have the same deadline to request a transfer- in for a maturity date max 6 weeks away from request.

eta 'from request'.

chutuk

I've signed up for this account and filled in the ISA transfer form to transfer funds from my existing VM fixed rate ISA (non exclusive/ 08 sort code) on maturity which is 24th September. 

This only leaves a 3 day window for VM to execute the transfer.  Does this allow enough time?  Where do I stand if VM don't execute the transfer before 5pm on the 27th Sep?

Thanks

justforlaugh

soulsaver said:

Text from VM says re FR Exc ISA iss 14:  you have until 5pm 27/09 to add money. 

It doesn't say it but you have the same deadline to request a transfer- in for a maturity date max 6 weeks away.

I have one ISA with maturity date 20th Oct.  Does this mean I can still request that ISA transfer before 27/09 and transfer can only happen on 20th Oct?

soulsaver

.justforlaugh said:

soulsaver said:

Text from VM says re FR Exc ISA iss 14:  you have until 5pm 27/09 to add money. 

It doesn't say it but you have the same deadline to request a transfer- in for a maturity date max 6 weeks away.

I have one ISA with maturity date 20th Oct.  Does this mean I can still request that ISA transfer before 27/09 and transfer can only happen on 20th Oct?

Yes it does.. but note it won't get a full year's interest as it's a fixed maturity date.

But it doesn't stretch to my Nov 22th 

lohr500

chutuk said:

I've signed up for this account and filled in the ISA transfer form to transfer funds from my existing VM fixed rate ISA (non exclusive/ 08 sort code) on maturity which is 24th September. 

This only leaves a 3 day window for VM to execute the transfer.  Does this allow enough time?  Where do I stand if VM don't execute the transfer before 5pm on the 27th Sep?

Thanks

Not sure what happens if they don't actually complete the transfer by the 27th.

If it helps though both my wife's and my own non exclusive Issue 611 08 sort code Virgin fixed ISAs matured on Saturday 24th August. We both requested transfers out on maturity a few weeks prior to the 24th. 

My transfer was to the Virgin 5.05% 1 year fix and it was completed by lunch time today. Considering the 24th was a Saturday and we had the Bank Holiday on Monday, I think that's pretty good. Not sure if the transfer system works over weekends and banh holidays. If not, then it took less than two working days to complete.

My wife's transfer was to Kent Reliance and that also completed around lunchtime today as well/

badger09

chutuk said:

I've signed up for this account and filled in the ISA transfer form to transfer funds from my existing VM fixed rate ISA (non exclusive/ 08 sort code) on maturity which is 24th September. 

This only leaves a 3 day window for VM to execute the transfer.  Does this allow enough time?  Where do I stand if VM don't execute the transfer before 5pm on the 27th Sep?

Thanks

It’s the date you request the xfer that matters. Ie must be before 27/9
And, if the ISA to be xferred is maturing, it has to mature within 6 weeks if xfer request

littlemissbossy

littlemissbossy said:

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.

@soulsaver

Just letting you know that my old VM fixed rate ISA matured today, it has been transferred as I requested on the correct day.