Regular Savings Accounts Article Discussion

schiff

It may pay to be patient. I put the general attitude on here to the MOS today when opening Store 13. She 'thought' it might be to get footfall - the usual hope of banks and building societies. But I do think it will happen some time fairly soon (gut instinct )

I thought the news about the fuel development was fantastic news. Uses up industrial waste gases and reduces emissions by a claimed for 65%. What more could you want!

EachPenny

schiff wrote: »

It may pay to be patient. I put the general attitude on here to the MOS today when opening Store 13. She 'thought' it might be to get footfall - the usual hope of banks and building societies. But I do think it will happen some time fairly soon (gut instinct )

I offered the same opinion the other day. The increase to 3% and the change in the pattern of launch dates, all happening around the same time as the CYBG stuff.... it all feels like there is a plan involved.

dekkard

Puffer wrote: »

My mother-in-law has a Virgin Regular E-Saver Issue 7 account, which matures on 20 October. She would like to open a follow-on account for future monthly savings but, as previously noted here, the only worthwhile Virgin account currently offered is the Regular Saver Issue 13, which has to be opened in-branch. Not at all helpful when (although we live in a major town) the nearest Virgin branch is more than 20 miles away - and she is both elderly and disabled!

Clearly, Virgin has little interest in maintaining customer loyalty and reinforced this when I phoned to query the position - I could almost hear the 'advisor's' shoulders being shrugged as he tried to fob me off by explaining that these accounts are driven by 'customer demand'.

Coincidentally, I read today that a Virgin plane has completed its first flight using biofuel. I wonder when one powered by a mixture of hot air and bulls**t will take off?

Despite the recent base rate increase, there are precious few regular savings accounts open to all that are readily accessible. :mad:

I've asked Virgin about this too. They said it's not impossible the online e-savers will be re-introduced but that it's in-store only for now.

Perhaps enough of us messaging them might make them take notice?

MDMD

EachPenny wrote: »

I offered the same opinion the other day. The increase to 3% and the change in the pattern of launch dates, all happening around the same time as the CYBG stuff.... it all feels like there is a plan involved.

I wonder if maybe they are going to launch something on the CYBG platform as the intention is to dump the Virgin online system. So to prevent having to migrate many accounts they just stop opening new ones on the Virgin system and let natural attrition take its course

EachPenny

MDMD wrote: »

I wonder if maybe they are going to launch something on the CYBG platform as the intention is to dump the Virgin online system. So to prevent having to migrate many accounts they just stop opening new ones on the Virgin system and let natural attrition take its course

Good point.

I was reading an article earlier about the CYBG Virgin takeover. It was speculating about the possibility of CYBG also buying TSB... I was filled with horror at the thought someone might want to try and merge the CYBG, Virgin and TSB IT systems all together.

soulsaver

EachPenny wrote: »

Good point.

I was reading an article earlier about the CYBG Virgin takeover. It was speculating about the possibility of CYBG also buying TSB... I was filled with horror at the thought someone might want to try and merge the CYBG, Virgin and TSB IT systems all together.

Maybe they've pulled it while they try to fix the annual interest bug?;)

EachPenny

soulsaver wrote: »

Maybe they've pulled it while they try to fix the annual interest bug?;)

:eek::eek::eek:

... not that long to go before we find out if they have. :silenced:

pafpcg

dekkard wrote: »

I've asked Virgin about this too. They said it's not impossible the online e-savers will be re-introduced but that it's in-store only for now.

I asked our usually forthcoming VM staff member when I had finished opening my Issue13 regular saver in my local branch this morning. The staff haven't been told anything about the online Esavers, but they have been told that since regulatory approval was given earlier this week and subject to some legal formalities, the merger with CYBG should take place on October 15th.

With the merger that close, I'm not surprised that new issues of accounts are being held-up. It may be that whilst the online regular saver is very much more popular than the branch version but demand is mostly from existing customers, wereas the branch version generates a higher proportion of new customers. If the terms of the merger includes a factor related to the number of individual customers (rather than the number of accounts), that might explain why VM have concentrated on the branch-based accounts. But it's all just speculation!

molerat

EachPenny wrote: »

:eek::eek::eek:

... not that long to go before we find out if they have. :silenced:

Has this conversation not been had (several times) before ?

soulsaver

molerat wrote: »

Has this conversation not been had (several times) before ?

Nearly useful comment.