The Top Regular Savers Discussion Thread

masonic

https://forums.moneysavingexpert.com/discussion/comment/82119032#Comment_82119032

Because there were reports of people being told that the last time around. There was a flurry of people trying to do it at the same time, which IIRC caused delays and for VM to push back with some folk. They updated the form to make it more explicit that it was for current accounts at some stage:

<snip>

There were also a few instances where they closed people's current account regardless of the details they put in the form.

After choosing continue, you get to the same form with the ability to enter any sort code and account number, but it is not risk-free.

Section62

https://forums.moneysavingexpert.com/discussion/comment/82119030#Comment_82119030

It wouldn't surprise me if that's the case with VM.

There's a possibility the different behaviours are a hangover from all the chopping and changing which has gone on in the formation of the VM we know and love.

IIRC the £500/£1000 limit was introduced by CYBG before the Virgin 'merger'. My first security token was solely branded 'Yorkshire Bank'. Also IIRC the introduction of the £500/£1000 limit was when they were really pushing people towards their app.

I didn't use the VM current account platform previously, but was migrated to it from the YB/CB one - with the same login details I'd always used. When I log in to the VM current account platform now I'm still using YB details, including a 10-digit customer number rather than username.

It wouldn't surprise me if these historical differences meant different authentication options and/or possibly different transaction limits.

TL;DR - if you don't have a VM current account then a good idea would be to set up an easy access account alongside their regular saver and make sure you can freely withdraw funds from it well before maturity of the RS account is due.

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82119028#Comment_82119028

VM

This explains how I managed to get £3k+interest out on the same day. My app is serving '82' profile, so for '05' I have to use online portal and use the code to login. I have two current accounts in '05' profile and two linked savings accounts which covers £4k.

NewPieman

VM
Just moved my Matured Reg Saver balance out…….no problems via the App……still no messages from Virgin re the account maturing and nothing in the secure messages in the app……

NewPieman

Lloyds

QQ - (I assume the answer is No I can't)…….Have a Lloyds RS and Club Lloyds RS paying 5.25% and 6.25% respectively……I see that they both paying 8% now…..Looked into whether I can close / transfer to the new account and start a new 12 months. Reading through - I can close the existing but I can't open the same account until the 12 months are up from the original opening of the account…….

mon3ysav3r

https://forums.moneysavingexpert.com/discussion/comment/82119244#Comment_82119244

Lloyds changed their T&Cs to say you can only open one Lloyds RS, so you can no longer hold both Lloyds RS and Club Lloyds RS once the current ones mature. I suspect they don't enforce the only opening one RS every 12 months.

Newly_retired

I am trying to reduce the number of accounts I hold. When deciding whether to open a new RS, as well as

1) checking the interest rate is high enough

2) ignoring any that can only be opened in branch or by post

I now apply a third criterion

3) ignore any financial institutions which generate a lot of negative feedback on this thread.

Kim_13

https://forums.moneysavingexpert.com/discussion/comment/82119253#Comment_82119253

Curious to know which institutions are on the ignore list. VM among them presumably.

Pickledonionlover

Darlington RS

Has now matured into a Mat Easy Access ( a day early).

No easy way to see the itemised interest.

friolento

https://forums.moneysavingexpert.com/discussion/comment/82119577#Comment_82119577

I have put in a withdrawal request which will now be processed on Tuesday. Not sure whether they will send the money then, or whether it will take another day or two.