Virgin m account

ryan008

Hi, 

looking at the virgin m account which would suit me with the benefits at a decent price compared to Monzo for example. Anyone had any experience with virgin is the app good? Any other issues? 

Thanks 

Voyager2002

I use it and it is ok.... no particular issues.

The interest rate is rubbish but it comes with a decent regular savings account.

ryan008

Will the nationwide take over change much? Or will it still be operating as virgin for awhile? As was with nationwide before found them quite dire 

prettyandfluffy

I switched to Virgin a few years ago.  I like the app, it's easy to navigate and very clear.  I have had no issues but their "chat" and "customer services" are poor, I can't remember why I needed to speak to them but they were useless.  Otherwise no issues apart from the minor irritation of them not being part of Open Banking.  I've been quite happy with them, especially no fees for EU spending; and I got a cheque book! I had to ask for it and I haven't used it but I have it.  Customers have been told the Nationwide takeover won't affect things although in the long term (years) I'm sure it will.

WillPS

ryan008 said:

Will the nationwide take over change much? Or will it still be operating as virgin for awhile? As was with nationwide before found them quite dire 

It's an entirely separate platform for now. Nationwide have use of the Virgin brand name until 2030. I expect by then, at the very least, they'll be running on the same platform, if not entirely merged in.

It's worth noting that Virgin Money do some things which Nationwide don't - notably digital cheque pay in and Post Office support. How they harmonise these things remains to be seen.

glennevis

prettyandfluffy said:

I switched to Virgin a few years ago.  I like the app, it's easy to navigate and very clear.  I have had no issues but their "chat" and "customer services" are poor, I can't remember why I needed to speak to them but they were useless.  Otherwise no issues apart from the minor irritation of them not being part of Open Banking.  I've been quite happy with them, especially no fees for EU spending; and I got a cheque book! I had to ask for it and I haven't used it but I have it.  Customers have been told the Nationwide takeover won't affect things although in the long term (years) I'm sure it will.

Virgin M accounts do support Open Banking.

Section62

Voyager2002 said:

I use it and it is ok.... no particular issues.

The interest rate is rubbish but it comes with a decent regular savings account.

Virgin did a decent RS account last August for a limited period of time, but is there anything available currently for new applicants?  Or do you mean the M Plus Saver account? (which isn't a regular saver and isn't that decent)

Ergates

ryan008 said:

Will the nationwide take over change much? Or will it still be operating as virgin for awhile? As was with nationwide before found them quite dire 

Nothing will change for several years.

Largs

I think they are rubbish.  The current account and linked savings account uses 1 app, the credit card another app and the better savings accounts needs a 3rd login.  Hoping Nationwide can improve all this.

savvysavings2024

I opened a Club M current account with them over a year ago. I pay £12.50 per month for travel insurance, breakdown cover, mobile phone insurance etc.  mostly for the breakdown cover tbh.

I only opened the account in order to access the fixed rate cash ISA as it had a good interest rate at the time.

They automatically open a normal savings account but I never used that.

No issues most of the time, but when I was asking about my ISA maturing it took ages to get clear information (I was new to ISAs) and even then the advisor told me I could transfer straight away with no penalties even though the fixed term wasn't up (I double checked after the chat and had I listened I would have been penalised - so I'm personally not impressed when I know more about their products than their employees do despite not working in finance and only getting an ISA for the first time in 2023-2024,).

PRAISETHESUN

savvysavings2024 said:

I opened a Club M current account with them over a year ago. I pay £12.50 per month for travel insurance, breakdown cover, mobile phone insurance etc.  mostly for the breakdown cover tbh.

I only opened the account in order to access the fixed rate cash ISA as it had a good interest rate at the time.

They automatically open a normal savings account but I never used that.

No issues most of the time, but when I was asking about my ISA maturing it took ages to get clear information (I was new to ISAs) and even then the advisor told me I could transfer straight away with no penalties even though the fixed term wasn't up (I double checked after the chat and had I listened I would have been penalised - so I'm personally not impressed when I know more about their products than their employees do despite not working in finance and only getting an ISA for the first time in 2023-2024,).

Side note - might be worth considering if you actually get value from the account if you only use it for breakdown cover. £150 a year goes a long way for breakdown cover and travel insurance - you might be able to buy standalone policies for cheaper, and then downgrade to the fee-free account.