The Top Regular Savers Discussion Thread

nottsphil

VM

Oh sorry everyone, mine must be Exclusive too. It's just that I don't remember that suffix and it doesn't show up in online banking.

tg99

Made my first £250 deposit into newly opened Virgin RS in early hours of this morning but still showing as pending in my Virgin transaction list - is this the same for others who have paid in today? I did it by faster payment bank transfer so not sure why would still be pending 12 hours after arrived in Virgin.

Bob2000

https://forums.moneysavingexpert.com/discussion/comment/82125608#Comment_82125608

My Virgin current account has been pending for all of my transactions since February. Got my card on frozen don't know if that's my/your reason?

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82125628#Comment_82125628

Whatever the reason is it's not (just) the frozen card. Mine's been frozen for years and the payments to my RS via the CA show just fine.

pecunianonolet

LBG Reguar Savers

Some of you may remember from many pages ago that I was denied a regular saver and that it was closed the following day after I opened it and that I got a text about it. This is recurring behaviour since basically years now that they don't want to take my money.

They are happy to provide me current accounts with overdraft but don't want my money. Totally irrational to give me an interest free overdraft, which I have used on my Club Lloyds account and 2 Halifax Reward accounts, were paying for my Cinema tickets for years. On Halifax, they paid me the 5er a long time and also gave me an overdraft. I owe them currently £300, which I have interest free for stoozing and would be happy to repay in exchange for regular savers.

A DSAR with Halifax a long time ago revealed that they not even had my correct DOB, and other wrong data in their database. All corrected with the branch manager of a BOS branch who also couldn't make out what was wrong, only blamed head office (seemed seemingly negative at the time).

I also have a credit card with MBNA, that is rarely but occasionally used. 2-3 years ago I used it as mule card for money transfers, worked like a charm and I keep getting offers on a monthly basis for interest free cash or balance transfers. I did use them a few times ca 3-4 years ago for bank switching but nothing since.

Anyhow, I raised a complaint told them that it would be a great addition to my other regular savers and below is the outcome.

If I wouldn't have 3 current accounts and the credit card connected to yougov, I would close everything down I have with LBG.

In my book, and I think I have a banking connection with every other UK high street bank, LBG is the worst institution of them all and also provides the worst and most unfriendly service. This also counts for all their staff I dealt with in the past, either via phone, email, mostly very useless people on chat and in branch itself. The only exception was the BOS branch manager who took 2h time to go through every possible page and data mask on his computer at the time to update data when I held the DSAR data and evidence about literally everything under his nose.

I just thought, some of you may be interested and I did not expect any other outcome. I am content with it and there are plenty other good regular savers out there. I have not been debanked, they just don't want my money but are happy to lend to me and pay for my cinema experience.

Bob2000

https://forums.moneysavingexpert.com/discussion/comment/82125652#Comment_82125652

Mine go through just fine too. The dates are always correct when l fund my RS. So it doesn't bother me, well not enough to ask Virgin why?

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82125608#Comment_82125608

Virgin

It always displayes as pending on the first day. AFAIK the interest is accruing from the date of deposit.

Born2Save_3

https://forums.moneysavingexpert.com/discussion/comment/82125672#Comment_82125672

"…I hope I've explained why we couldn't progress your applications,,,"

They have avoided genuinely explaining using their T&Cs as a get out clause.

There is some reason(s). I wonder if any further light could be shed by escalating maybe to a higher body ? Or do you have a suspicion ? If the reason could be a misunderstanding / bad decision, maybe based on bad LBG data, again maybe worth escalating. Could you have crossed some line over stoozing/other rewards or is there some other banking activity taken place not serious enough to be de-banked but a hurdle too high for opening RS accounts ?

Have you tried opening other non RS savings accounts, keep them and put some credible transactions through for a few months ?

friolento

I used it as mule card for money transfers

Probably not what you meant but if you used this term in your LBG complaint, it would have set off alarm bells. In banking security, a "mule card" is a debit card or bank card linked to a money mule account.

• What it does: Criminals use this card to withdraw or transfer stolen or "dirty" money. It helps hide where the crime money came from and protects the criminal's true identity.
• How people get involved: Scammers trick innocent people (often young adults or job seekers) into sharing their bank card, PIN, or account details. Sometimes the owner knows they are helping; other times they are tricked.
• The danger: Allowing someone else to use your bank card is illegal. Even if you did not know it was a crime, your account can be frozen, and you can face criminal charges or prison time

ForumUser7

https://forums.moneysavingexpert.com/discussion/comment/82125672#Comment_82125672

'We're unable to disclose the reasons behind the outcome of the applications'

'I hope I've explained why we couldn't progress your applications'

😐️