The Top Regular Savers Discussion Thread

Growingold

mebu60 said:

chris_the_bee said:

friolento said:

chris_the_bee said:

friolento said:

jaypers said:

How do I close my Virgin RS? I’ve logged into online banking and the only closure form I can find says ‘Current Account’ closure. TIA. 

That's the form you use, with the sort code and account number of your matured (or not yet matured) RS.

You have to empty the account first. Can move it all to easy access or withdraw all.

I don’t think you have to but you can.

That is what they say.

We recently received an online request to close your savings account, unfortunately we are unable to action this request at the moment due to the account having a credit balance. Please transfer all the money in your account to another account and resubmit the closure request online.

 Kind Regards

 Alistair

Virgin Money Admin Team

Thanks for the heads-up @chris_the_bee , I have now shifted the £1 I left in the RS this morning so balance is £0. It would save them a lot of work if they specified this requirement on the form!  

I submitted the closure form this morning too. It said two working days to process but I am taking that timeline with a large pinch of salt given they are likely to have been inundated. 

Same here just transferred the £1 I left in it. Now a zero balance. Will wait and see if I have to submit thee online form again.  Virgin must be one of only a few banks if any that has to have a zero balance before they can close the account.

Growingold

DancingDragon said:

VM REG ISSUE 3
Just a heads up as I nearly got caught out. The sort code for this new account is slightly different to all my other VM accounts. Presumably due to the take over

In what way may I ask?  Mine is exactly the same 05 00 05

allegro120

clivep said:

allegro120 said:

VM withdrawals
It appears that 2x£50 per day rule for online banking is no longer enforced.  I've emptied my RS account today online without any problems.

More than 2 x £50 is fine, 2 x £500 is the limit if you do not have the app and the limit is in total for all your accounts apparently!

Transfers between a/cs don't count towards the limit, so I moved £1000 from RS to current a/c followed by 2 x £500 payments from C/A. I was then blocked from any external payments from RS.

Just tried again and it's still blocked.

Apologies for the typo, now corrected
I have 2 current accounts.  I moved £1000 from RS to each, made 4 x £500 withdrawals, made another £500 withdrawal directly from RS to another bank. I was left with £639.16 and decided to try go over £500 limit and that went through fine.

Sorry to hear you were blocked.  Happened to me a few times in the past, very annoying and time consuming. 

mebu60

Growingold said:

mebu60 said:

chris_the_bee said:

friolento said:

chris_the_bee said:

friolento said:

jaypers said:

How do I close my Virgin RS? I’ve logged into online banking and the only closure form I can find says ‘Current Account’ closure. TIA. 

That's the form you use, with the sort code and account number of your matured (or not yet matured) RS.

You have to empty the account first. Can move it all to easy access or withdraw all.

I don’t think you have to but you can.

That is what they say.

We recently received an online request to close your savings account, unfortunately we are unable to action this request at the moment due to the account having a credit balance. Please transfer all the money in your account to another account and resubmit the closure request online.

 Kind Regards

 Alistair

Virgin Money Admin Team

Thanks for the heads-up @chris_the_bee , I have now shifted the £1 I left in the RS this morning so balance is £0. It would save them a lot of work if they specified this requirement on the form!  

I submitted the closure form this morning too. It said two working days to process but I am taking that timeline with a large pinch of salt given they are likely to have been inundated. 

Same here just transferred the £1 I left in it. Now a zero balance. Will wait and see if I have to submit thee online form again.  Virgin must be one of only a few banks if any that has to have a zero balance before they can close the account.

Not expecting to have to resubmit the form as we are probably still a long way down the queue for processing at which time they will see the nil balance. Hopefully!

Tesco Bank require a zero balance on a savings account to close it but that is clearly articulated on the closure form and/or the instructions for closure.

DancingDragon

Growingold said:

DancingDragon said:

VM REG ISSUE 3
Just a heads up as I nearly got caught out. The sort code for this new account is slightly different to all my other VM accounts. Presumably due to the take over

In what way may I ask?  Mine is exactly the same 05 00 05

New account is 82 19 77 all earlier ones I have are 82 19 73  Perhaps we're using different versions of VM - I think there are a few

DancingDragon

janusdesign said:

DancingDragon said:

VM REG ISSUE 3
Just a heads up as I nearly got caught out. The sort code for this new account is slightly different to all my other VM accounts. Presumably due to the take over

fwiw, the sort code on my new RS3 is the same as all my other Virgin Money accounts.

I seems to depend which platform you're on. It looks like only sort code starting 82 are affected

masonic

DancingDragon said:

janusdesign said:

DancingDragon said:

VM REG ISSUE 3
Just a heads up as I nearly got caught out. The sort code for this new account is slightly different to all my other VM accounts. Presumably due to the take over

fwiw, the sort code on my new RS3 is the same as all my other Virgin Money accounts.

I seems to depend which platform you're on. It looks like only sort code starting 82 are affected

The 05 sort codes are from Yorkshire bank, which was a much smaller outfit. The 82 ones I believe are from Clydesdale and they probably had a much bigger range.

masonic

Anyone made sense of the following? If you open and fund on 1st August 2025 and pay in £250 on the 1st of every calendar month, then after 12 months (31st July 2025) you would have a balance of £3000, with no interest having been paid yet, or at maturity on 28th August you would have £3250+interest. Or is it actually a 12 month term?

francoghezzi

masonic said:

Anyone made sense of the following? If you open and fund on 1st August 2025 and pay in £250 on the 1st of every calendar month, then after 12 months (31st July 2025) you would have a balance of £3000, with no interest having been paid yet, or at maturity on 28th August you would have £3250+interest. Or is it actually a 12 month term?

It says in the Summary box: 'Depending when you open your account the fixed term may be longer than 12 months" but still no clear mention of a 13th payment

schiff

Chorley BS has now replaced Monmouth as the outfit 'bringing up the rear' stakes. Of the 35 RSs I've filled today only their two can't yet be confirmed as safely received.