Has Virgin stopped exclusive ISA products for M current account holders?

kuepper

I was looking to see what their ISA rates were as I know in the past they've had higher rates if you had a current account with them, but I can only see ISAs that seem to be open to anyone - a 1 yr fixed rate and a defined access one?

Middle_of_the_Road

kuepper said:

I was looking to see what their ISA rates were as I know in the past they've had higher rates if you had a current account with them, but I can only see ISAs that seem to be open to anyone - a 1 yr fixed rate and a defined access one?

Seems that way. Someone also mentioned YBS have not launched any loyalty ISAs so far this year.

born_again

Given they are now part of Nationwide. They could be bringing it in line with NW.

kuepper

born_again said:

Given they are now part of Nationwide. They could be bringing it in line with NW.

The rates are less than Nationwide:  4.10 and 4.06 AER respectively for the fixed and defined access ones whereas Nationwide is 4.25 and 4.00 for the same products

kuepper

kuepper said:

born_again said:

Given they are now part of Nationwide. They could be bringing it in line with NW.

The rates are less than Nationwide:  4.10 and 4.06 AER respectively for the fixed and defined access ones whereas Nationwide is 4.25 and 4.00 for the same products

Just been emailed that when my fixed rate finishes at the end of April it's being converted to an easy access flexible Exclusive (to M account holders presumably) ISA, initially 4.51% but drops to 4.11% on 19th May

david72

born_again said:

Given they are now part of Nationwide. They could be bringing it in line with NW.

"You know when you've been Nationwide'd"? 

I suspected that this is what would happen: Nationwide have gradually eroded the benefits of mutual ownership over quite a number of years, and it's probably only inevitable that they would sadly now drag VM down to their current level…

jimjames

david72 said:

born_again said:

Given they are now part of Nationwide. They could be bringing it in line with NW.

I suspected that this is what would happen: Nationwide have gradually eroded the benefits of mutual ownership over quite a number of years,

Apart from the mutual benefits like the loyalty bonus and most recent £50 payment?

wmb194

jimjames said:

david72 said:

born_again said:

Given they are now part of Nationwide. They could be bringing it in line with NW.

I suspected that this is what would happen: Nationwide have gradually eroded the benefits of mutual ownership over quite a number of years,

Apart from the mutual benefits like the loyalty bonus and most recent £50 payment?

Its interest rates on savings accounts are generally poor, though. The odd £50 or £100 won’t make up for that if you have substantial savings with NW vs sending them to better paying institutions. There was a time when NW was reliably up there in the savings charts.

Speculator

kuepper said:

kuepper said:

born_again said:

Given they are now part of Nationwide. They could be bringing it in line with NW.

The rates are less than Nationwide:  4.10 and 4.06 AER respectively for the fixed and defined access ones whereas Nationwide is 4.25 and 4.00 for the same products

Just been emailed that when my fixed rate finishes at the end of April it's being converted to an easy access flexible Exclusive (to M account holders presumably) ISA, initially 4.51% but drops to 4.11% on 19th May

I've got the Virgin Exclusive ISA 2 paying 4.51% and have not received any notification that it will drop to 4.11%.

Last email I got was on 11 Feb to notify me of the decrease from 4.76% to 4.51% on 24 Feb.

RG2015

Speculator said:

kuepper said:

kuepper said:

born_again said:

Given they are now part of Nationwide. They could be bringing it in line with NW.

The rates are less than Nationwide:  4.10 and 4.06 AER respectively for the fixed and defined access ones whereas Nationwide is 4.25 and 4.00 for the same products

Just been emailed that when my fixed rate finishes at the end of April it's being converted to an easy access flexible Exclusive (to M account holders presumably) ISA, initially 4.51% but drops to 4.11% on 19th May

I've got the Virgin Exclusive ISA 2 paying 4.51% and have not received any notification that it will drop to 4.11%.

Last email I got was on 11 Feb to notify me of the decrease from 4.76% to 4.51% on 24 Feb.

The VM Ts&Cs say they will give 2 months notice of any rate decrease.

I received the following message on an email on 19 March 2025.

We’re getting in touch to let you know that on 19 May 2025 we’ll be reducing the interest rate payable on your Easy Access Cash ISA Exclusive Issue 2.

The current interest rate is 4.51% AER¹ variable and the new rate will be 4.11% AER¹ variable on all balances. For further information about your rate, please look at the table below.

I received the previous email on 13 December 2024. 

We’re getting in touch to let you know that on 24 February 2025 we’ll be reducing the interest rate payable on your Easy Access Cash ISA Exclusive Issue 2, ending 1695.

The current interest rate is 4.76% AER¹ and the new rate will be 4.51% AER¹ variable on all balances. For further information about your rate, please look at the table below.

I did though get a reminder on 11 Feb but this did refer to the previous message on 24 December.

Speculator

RG2015 said:

Speculator said:

kuepper said:

kuepper said:

born_again said:

Given they are now part of Nationwide. They could be bringing it in line with NW.

The rates are less than Nationwide:  4.10 and 4.06 AER respectively for the fixed and defined access ones whereas Nationwide is 4.25 and 4.00 for the same products

Just been emailed that when my fixed rate finishes at the end of April it's being converted to an easy access flexible Exclusive (to M account holders presumably) ISA, initially 4.51% but drops to 4.11% on 19th May

I've got the Virgin Exclusive ISA 2 paying 4.51% and have not received any notification that it will drop to 4.11%.

Last email I got was on 11 Feb to notify me of the decrease from 4.76% to 4.51% on 24 Feb.

The VM Ts&Cs say they will give 2 months notice of any rate decrease.

I received the following message on an email on 19 March 2025.

We’re getting in touch to let you know that on 19 May 2025 we’ll be reducing the interest rate payable on your Easy Access Cash ISA Exclusive Issue 2.

The current interest rate is 4.51% AER¹ variable and the new rate will be 4.11% AER¹ variable on all balances. For further information about your rate, please look at the table below.

I received the previous email on 13 December 2024. 

We’re getting in touch to let you know that on 24 February 2025 we’ll be reducing the interest rate payable on your Easy Access Cash ISA Exclusive Issue 2, ending 1695.

The current interest rate is 4.76% AER¹ and the new rate will be 4.51% AER¹ variable on all balances. For further information about your rate, please look at the table below.

I did though get a reminder on 11 Feb but this did refer to the previous message on 24 December.

Thanks. Only have £5 in it but was going to add £10k from a maturing Fixed Rate bond on Wednesday.

Will probably divert it to Ford flexible ISA paying 4.35% or open a Saffron online easy access ISA paying 4.4%.

My Virgin email probably went to spam folder and got automatically deleted.