The Top Regular Savers Discussion Thread

Kim_13

https://forums.moneysavingexpert.com/discussion/comment/82031187#Comment_82031187

Not without its risks though, I recall several forumites having their current accounts closed by VM in error. As they wouldn't just reopen them, getting a replacement would require a fresh application and associated hard credit search.

pecunianonolet

https://forums.moneysavingexpert.com/discussion/comment/82031192#Comment_82031192

That happened to me, I got rather decent compensation but they didn't open a new current account. They did, however, say that they would remove the hard search at their side from the file. Given their entire history, I didn't bother as I was pretty sure it wouldn't work out and I would be left with the hard search.

I let mine run its course and may get back in touch with them and ask them to open a new reg saver and reference my complaint reference number and that I technically meet the criteria due to their own error. Maybe they can open one manually but if not I won't bother.

gwapenut

https://forums.moneysavingexpert.com/discussion/comment/82031192#Comment_82031192

Also I tried the online form last year and nothing happened, either to my current account or my regular saver.

I will just let them accumulate now!

jaypers

https://forums.moneysavingexpert.com/discussion/comment/82031199#Comment_82031199

Mine worked out last year via the form. One of the questions is where you want the interest paid……if you put the Virgin current account details plus leave £1 or more in there to start with, I’m guessing it would be hard for them to close the current account in error.

Hattie627

I've got Issue 5 of the VM Excl RS, it's also fixed at 6.5%, maturing 26th Feb 2027. It's currently got 5 months' payments in it (£1250). I think I will just let it run on and hope for the best next February.

jaypers

I’m going for the Virgin closure thing. I’ll report back how it goes!

Section62

https://forums.moneysavingexpert.com/discussion/comment/82031199#Comment_82031199

Maybe they can open one manually but if not I won't bother.

I missed out on the first RS issue due to an ID problem - likewise due to an error on their part. They absolutely wouldn't budge on opening the account for me, even though a member of staff had previously said they would. They are one of the least flexible banks I've dealt with, which is all the more surprising given the mess their computer systems are in.

I'd echo the advice above about thinking carefully before doing anything which is risky - getting mistakes rectified by VM can be a nightmare.

Dizzycap

https://forums.moneysavingexpert.com/discussion/comment/82031221#Comment_82031221

That's what I did in February when I closed my RS 4 and then applied for Issue 5 end date 26/02/27. I remember requesting on the close an account form for the funds from my RS 4 to be sent to my VM M Plus current account along with due interest, but I don't remember it stating closing a current account on the online form as it shows this morning. Perhaps I just missed it on the online closure form in February. My M plus current account wasn't closed in error and still remains with £1 in it.

As I'm happy to keep my RS 5 until Feb due to spreading out maturity dates, I won't be closing my VM RS 5 and will just wait to see what's available next February when it matures.

Hattie627

https://forums.moneysavingexpert.com/discussion/comment/82031310#Comment_82031310

I closed my RS in February 2026 to open Issue 5. The online form definitely stated that it was for "closing a current account" so I was a bit worried but it worked out okay. I asked for the closing interest to go to my VM current account. However I do agree that there is room for error in using the form, so I wouldn't do it without some thought. Like Dizzycap I am going to leave my Issue 5 to run its course until maturity in Feb 2027 and take my chance then.

Money_Grabber13579

https://forums.moneysavingexpert.com/discussion/comment/82031192#Comment_82031192

Sounds like Nationwide and Virgin Money are a good fit for each other then. I asked Nationwide to close some dormant savings accounts quite a number of years ago and they closed my current account by accident. It was my main current account too so it was rather a pain.

I didn’t think about perusing compensation at that time but perhaps I should have. Anyway, it just means that I no longer ask for any savings accounts to be closed and just let them sit there.