The Top Regular Savers Discussion Thread

s71hj

flaneurs_lobster said:

s71hj said:

So to be clear, can I make a withdrawal from the Virgin RS before maturity on the 1st and lose no interest? 

Assuming you have a full holding then you will lose ~85p interest for each day before maturity that you withdraw the funds.

It would be going into my Edge Up current account so I would be getting some interest on it. 

saverkev

s71hj said:

So to be clear, can I make a withdrawal from the Virgin RS before maturity on the 1st and lose no interest? It's just that all my standing orders for other RSs go out on the 1st and I need that amount of money from somewhwere and it strikes me as the least faff to do it this way. 

Virgin RS

I am going to withdraw in the 1st and use the money to fund my Regular Saver standing orders due to go out same day from LLoyds and HSBC.

I've got Virgin current and Virgin easy access ISA which I use regularly and have always had withdrawals made instantly from both accounts via the app without any problem 

HHUK

Virgin 

It's belatedly dawned on me that the bonus 10% interest being paid on balances up to £1000 in the associated current account ended on 30 June. So I guess now many of us are in the process of closing our Virgin regular savers it's time to move most if not all of that £1000 elsewhere, if we haven't already.

masonic

I'll be losing 2 days interest on £1 for the benefit of having an existing payee set up on the day rather than risking a security hold due to setting up a new payee and making a large payment on the same day. Might be unnecessary, but I'll err on the side of caution.

friolento

HHUK said:

Virgin 

It's belatedly dawned on me that the bonus 10% interest being paid on balances up to £1000 in the associated current account ended on 30 June. So I guess now many of us are in the process of closing our Virgin regular savers it's time to move most if not all of that £1000 elsewhere, if we haven't already.

This is why people diarise expiry dates for offers, and any maturity dates, at the time of setting up the account 

clivep

Virgin RS

The 2 x £500 limit was news to me. There's nothing I can find about it in the t's & c's from opening. Looks like they reduced it from £10K at some point. Too late to order a "token" device (even if they are still available... I couldn't find any ordering info!). I don't want to download the app (no room left on wife's phone for her a/c anyway).

I notice when doing a future dated payment that the limit applies on the day of setting up. So I thought to set up 2 x £500 today to pay on 1st, set another 2 up tomorrow, then would be allowed a further 2 on 1st. Great plan but withdrawals from the regular saver can't be future dated. Next plan, do the future dated payments from the current account and transfer the £2,000 from RS on 1st and hope the future dated payments from C/A get re-tried later in the day.

Eventually decided the easiest is to withdraw the interest from RS today, £1000 tomorrow, £1000 on 1st and transfer remaining £1000 to the C/A from where I should be able to withdraw it (I believe the £1000 limit should be per account so allowing £2000 in total between RS and C/A - transfers between these don't count towards the limit).

flaneurs_lobster

clivep said:

Virgin RS

The 2 x £500 limit was news to me. There's nothing I can find about it in the t's & c's from opening. Looks like they reduced it from £10K at some point. Too late to order a "token" device (even if they are still available... I couldn't find any ordering info!). I don't want to download the app (no room left on wife's phone for her a/c anyway).

I notice when doing a future dated payment that the limit applies on the day of setting up. So I thought to set up 2 x £500 today to pay on 1st, set another 2 up tomorrow, then would be allowed a further 2 on 1st. Great plan but withdrawals from the regular saver can't be future dated. Next plan, do the future dated payments from the current account and transfer the £2,000 from RS on 1st and hope the future dated payments from C/A get re-tried later in the day.

Eventually decided the easiest is to withdraw the interest from RS today, £1000 tomorrow, £1000 on 1st and transfer remaining £1000 to the C/A from where I should be able to withdraw it (I believe the £1000 limit should be per account so allowing £2000 in total between RS and C/A - transfers between these don't count towards the limit).

It does sound as if you are making this hard for yourself. Just get the app.

I emptied the Virgin RS into my RBS current account this morning. Took about 10 seconds.

Another 10 seconds to verify that the funds had arrived. Using the RBS app.

subjecttocontract

I'm puzzled,
Why would someone open a Virgin account and not ensure they have either the Virgin App or a Virgin Security key/device to enable withdrawals ?

francoghezzi

subjecttocontract said:

I'm puzzled,
Why would someone open a Virgin account and not ensure they have either the Virgin App or a Virgin Security key/device to enable withdrawals ?

Fantastic if you think that in this forum till a couple of days ago no one was scared of using the Monmouthshire BS app that is something coming straight from the Magna Carta ages ...

Bobblehat

francoghezzi said:

subjecttocontract said:

I'm puzzled,
Why would someone open a Virgin account and not ensure they have either the Virgin App or a Virgin Security key/device to enable withdrawals ?

Fantastic if you think that in this forum till a couple of days ago no one was scared of using the Monmouthshire BS app that is something coming straight from the Magna Carta ages ...

Magna Carta will outlast all apps