Virgin Money M Plus Saver

2010

VM M Plus, Instead of filling out a form, it would be easier to close it in the app.

simonsmithsays

2010 said:

VM M Plus, Instead of filling out a form, it would be easier to close it in the app.

And how does one do that?

PRAISETHESUN

simonsmithsays said:

2010 said:

VM M Plus, Instead of filling out a form, it would be easier to close it in the app.

And how does one do that?

https://forums.moneysavingexpert.com/discussion/comment/80964891#Comment_80964891

The app takes you to the same web form that you end up filling out if you do it through online banking. No real difference to the process as far as I can tell

simonsmithsays

PRAISETHESUN said:

simonsmithsays said:

2010 said:

VM M Plus, Instead of filling out a form, it would be easier to close it in the app.

And how does one do that?

https://forums.moneysavingexpert.com/discussion/comment/80964891#Comment_80964891

The app takes you to the same web form that you end up filling out if you do it through online banking. No real difference to the process as far as I can tell

Absolutely right

We both know this.

simonsmithsays

simonsmithsays said:

HillStreetBlues said:

Account closed via the app thanks too PRAISETHESUN

I've applied for, the closure of, three savings accounts today from the app.

If anyone wants to save themself a couple of clicks and launching the app here is the link:

https://uk.virginmoney.com/vmforms/current-accounts/account-closure-request/form

My first three savings accounts safely closed via the info and form link.

Now to crack on with the others.  Much easier than the branch visits 

Thanks @PRAISETHESUN

edgex

Somewhat connected question...

Is it possible to have a Standing Order from the MPlusSaver account?
I would like to feed the Regular Saver from it, as the MPlus has a better interest rate than the current account.

simonsmithsays

pafpcg said:

simonsmithsays said:

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.

Surprising therefore that you weren't aware that there was no limit, no maintenance and that this was the Market Leader at the time.

It was very well documented on the forums on here.

Twas brilliant whilst it lasted.

Absolutely nothing excessive about playing within the rules to get the best deals if it suits your circumstances.

Also surprising you didn't know that for us legacy current account holders the linked savings accounts were imposed.

I darent tell you how many RS I run with....

From May 2020 my partner & I were opening the VM accounts at intervals of a fortnight, so we ended up with a similar number.  We too had problems logging-in on-line through a browser in late 2020, soon the only time it ever worked was in the early hours of Sunday morning!  Eventually, it stopped completely and we were forced onto the app which did work but slowly. All the cash was withdrawn when interest rates elsewhere were more attractive and I closed most of the current accounts using the CASS switching service.  VM send letters giving six months notice that the "orphaned" savings accounts are going to be closed after a couple of years of non-use.  With the reduction in the number of current accounts (now down to approx a dozen each) it's possible to login again using the on-line browsers - I'm convinced that blocking login via a browser was the mechanism VM used to control the number of accounts - opening a new account was only possible via a browser.

Update here @pafpcg.

After closing dozens of the savings accounts and all but seven current accounts.

Guess what.... I now have online access again.

The first time in literally years.