Virgin Money M Plus Saver

simonsmithsays

jameseonline said:

HillStreetBlues said:

To why I want to close it, two reasons.
Personal preference, I close accounts that I'm not using, can always get a another one later. I'd rather be given the choice to opening a savings account.

I think you would have to ask Virgin, surely you knew you would get a linked savings account when you opened the current account?.

That's wrong.

The saver account were added, without choice, some time after the current accounts.

It was a Virgin business decision - not a customer one.

simonsmithsays

jameseonline said:

simonsmithsays said:

jameseonline said:

simonsmithsays said:

I've been closing over 50 of the Virgin Current accounts bit by bit, via branch, over the last few weeks.

I'm left with half a dozen.

But I'd love to close the associated savings accounts.

Main reason for closing them is I'm unable to login online (I can via the app).

This made opening the RS a little tricky.

The Technical Department have had two attempts at sorting me but seem out of their depth.

Hence me getting rid of the vast (and unused in the last three years) C/As to see if that helps matters.

Over 50 Virgin Money Current Accounts?, why so many?

It was at the time they were offering a market leading 2% on balances upto £1k on each CA.

Like many on here I skimmed the monthly interest off each month.

2% isn't a lot & can't have been market leading for long, surely there were better ways to distribute over 50K? 🤔

Things aren't computing in my head.

It was market leading for Easy Access - as simple as that really.

Only a relatively short time ago too. From Oct 2020 according to my spreadsheets.

Maybe you haven't been in this board and in a position to save, when rates were lower, that long to notice.

jameseonline

simonsmithsays said:

jameseonline said:

simonsmithsays said:

jameseonline said:

simonsmithsays said:

I've been closing over 50 of the Virgin Current accounts bit by bit, via branch, over the last few weeks.

I'm left with half a dozen.

But I'd love to close the associated savings accounts.

Main reason for closing them is I'm unable to login online (I can via the app).

This made opening the RS a little tricky.

The Technical Department have had two attempts at sorting me but seem out of their depth.

Hence me getting rid of the vast (and unused in the last three years) C/As to see if that helps matters.

Over 50 Virgin Money Current Accounts?, why so many?

It was at the time they were offering a market leading 2% on balances upto £1k on each CA.

Like many on here I skimmed the monthly interest off each month.

2% isn't a lot & can't have been market leading for long, surely there were better ways to distribute over 50K? 🤔

Things aren't computing in my head.

It was market leading for Easy Access - as simple as that really.

Only a relatively short time ago too. From Oct 2020 according to my spreadsheets.

Maybe you haven't been in this board and in a position to save, when rates were lower, that long to notice.

I've been with Virgin a few years (even before Clydesdale takeover) I'm pretty sure that there's been better ways to distribute 50+k in that time, through regulars, instant access etc.

I've used Virgins linked saver before then ended up using Tandem & Zopa & Chip because Virgin didn't pay as good.

I'm surprised Virgin let you have so many current accounts too.

Over 50 with 1 provider is excessive.

Must have been difficult managing all those.

Nationwide only let you have like 4 or something max at a time.

kimwp

Yes, you can close the savings accounts without closing the current accounts. I had roughly 25 current accounts for the same reason as simonsmithsays. I called virgin and asked to close all but 2-3 of the savings accounts to tidy up the screen. 

2010

Funding 50 C/A`s with £1k each, now I`ve heard it all!  

arthurdick

Ha, that made me smile.
 
 I wanted to get this account Virgin Money M Plus Saver so that I could open the 10% account, I tried for a few weeks then gave up.


I thought I was mad with a new plan which is to open up my alphabet  of different bank accounts, 4 a month for 6 months all with a fiver each.  Then 2 goes  to get  difficult letters., there will be quite a few  I think that I cannot get, but it is a bit of fun trying.

kimwp

jameseonline said:

simonsmithsays said:

jameseonline said:

simonsmithsays said:

jameseonline said:

simonsmithsays said:

I've been closing over 50 of the Virgin Current accounts bit by bit, via branch, over the last few weeks.

I'm left with half a dozen.

But I'd love to close the associated savings accounts.

Main reason for closing them is I'm unable to login online (I can via the app).

This made opening the RS a little tricky.

The Technical Department have had two attempts at sorting me but seem out of their depth.

Hence me getting rid of the vast (and unused in the last three years) C/As to see if that helps matters.

Over 50 Virgin Money Current Accounts?, why so many?

It was at the time they were offering a market leading 2% on balances upto £1k on each CA.

Like many on here I skimmed the monthly interest off each month.

2% isn't a lot & can't have been market leading for long, surely there were better ways to distribute over 50K? 🤔

Things aren't computing in my head.

It was market leading for Easy Access - as simple as that really.

Only a relatively short time ago too. From Oct 2020 according to my spreadsheets.

Maybe you haven't been in this board and in a position to save, when rates were lower, that long to notice.

I've been with Virgin a few years (even before Clydesdale takeover) I'm pretty sure that there's been better ways to distribute 50+k in that time, through regulars, instant access etc.

I've used Virgins linked saver before then ended up using Tandem & Zopa & Chip because Virgin didn't pay as good.

I'm surprised Virgin let you have so many current accounts too.

Over 50 with 1 provider is excessive.

Must have been difficult managing all those.

Nationwide only let you have like 4 or something max at a time.

No management required as you could open as many as you wanted - fund each account with less than the max that received the high (at the time) interest rate and leave them alone.

tr7phil

It never even occurred to me to open more than one, opportunity missed!  Not sure I'd have opened 50 though...

jameseonline

arthurdick said:

Ha, that made me smile.
 
 I wanted to get this account Virgin Money M Plus Saver so that I could open the 10% account, I tried for a few weeks then gave up.


I thought I was mad with a new plan which is to open up my alphabet  of different bank accounts, 4 a month for 6 months all with a fiver each.  Then 2 goes  to get  difficult letters., there will be quite a few  I think that I cannot get, but it is a bit of fun trying.

Not sure I understand your post, you need a Virgin Money Current Account to get the 10% Regular Saver.

Virgin Money Current accounts automatically come with a linked savings account.

I don't understand the rest of your post.

kimwp

tr7phil said:

It never even occurred to me to open more than one, opportunity missed!  Not sure I'd have opened 50 though...

I could open 2-3 at a time, every 4-5 days, otherwise the application was rejected (and also applications didn't go through at a certain time of day as well), so it took a while to open my 25. I think I saw someone post on an mse thread that they'd opened a couple, so I messaged virgin to ask them and there was no limit. It was the highest interest rate available and I had time, so worth it for me.