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Regular Saver Thread **New and Restarted** - Page 111

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Regular Saver Thread **New and Restarted**

edited 16 November 2019 at 8:25AM in Savings & Investments
3.5K replies 620.9K views
1108109111113114352

Replies

  • Westie983Westie983 Forumite, Board Guide
    4.9K posts
    1,000 Posts Fifth Anniversary Photogenic Xmas Saver!
    ✭✭✭✭
    Speculator wrote: »
    Opened the Virgin 3% Regular at Haymarket today and she said to close or withdraw from the account, I must visit the store.

    I cannot close or withdraw from the account by post.

    I have closed previous store issues via post and not had a problem, unless it's a new T&C you have been given wrong information, I wasn't told of any new T&Cs when I opens the latest one.

    Westie983
    Save 12k in 2020 #33 Total (£2300) £1250.00/£5000 = 25.00%
    Sealed Pot Challenge ~ 13 #97 Total (£505)+£70.00/£500 = 14.00%
    Xmas 2020 £1 a Day #8 Total (£386)+£63.60/£365 = 17.42%
    Virtual Sealed Pot #1 Total (£600)+£200.00/£500 = 40.00%
    £2 Savers Club 2020 #11 Total (£720)+£4.00/£300 = 1.33%
    Total £1587.60/£6665 = 25.32%
    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email [email protected]
  • Westie983Westie983 Forumite, Board Guide
    4.9K posts
    1,000 Posts Fifth Anniversary Photogenic Xmas Saver!
    ✭✭✭✭
    Can you see the balance on the virgin store regular savers accounts from virgin internet banking?

    No you can only see the E Saver Regular Savers online, the balances are in the passbooks when they are updated in branch either at maturity or when you pass a branch.

    Westie983
    Save 12k in 2020 #33 Total (£2300) £1250.00/£5000 = 25.00%
    Sealed Pot Challenge ~ 13 #97 Total (£505)+£70.00/£500 = 14.00%
    Xmas 2020 £1 a Day #8 Total (£386)+£63.60/£365 = 17.42%
    Virtual Sealed Pot #1 Total (£600)+£200.00/£500 = 40.00%
    £2 Savers Club 2020 #11 Total (£720)+£4.00/£300 = 1.33%
    Total £1587.60/£6665 = 25.32%
    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email [email protected]
  • Sea_ShellSea_Shell Forumite
    3.5K posts
    Fifth Anniversary 1,000 Posts Hung up my suit!
    ✭✭✭✭
    Re: Virgin RS's.

    It seems quite bizarre at the moment that the more labour intensive, high overhead account....i.e. the Store RS, is paying more interest than the E-saver, where no staff or passbook required. You'd think it should be the other way round!!
    " That pound I saved yesterday, is a pound I don't have to earn tomorrow ":beer: JOB DONE!!
    This should now read "It's time to start digging up those Squirrelled Nuts"!!! :j:j:j
  • schiffschiff Forumite
    19.4K posts
    Part of the Furniture 10,000 Posts
    ✭✭✭✭✭
    Sea_Shell wrote: »
    Re: Virgin RS's.

    It seems quite bizarre at the moment that the more labour intensive, high overhead account....i.e. the Store RS, is paying more interest than the E-saver, where no staff or passbook required. You'd think it should be the other way round!!

    Could it not simply be that following the change in base rate Virgin elected to pay 3% on new accounts and that the 'turn' of the store version was next out of the blocks? The next online version at 3% should prove my point.
  • aleph_0aleph_0 Forumite
    536 posts
    schiff wrote: »
    Could it not simply be that following the change in base rate Virgin elected to pay 3% on new accounts and that the 'turn' of the store version was next out of the blocks? The next online version at 3% should prove my point.

    I think there are two possibilities here. One is along the lines of your scenario. They've gone off-cycle with this new issue (only a month after the previous one). It could be that we will get a new e-Regular saver in about a weeks time, or in a week+month when the next e-Regular was due.

    The other possibility is that they've deliberately made it branch-only. Which at first glance doesn't make sense, with the costs of account opening. But at 3%, it's definitely a loss-leader, and there might be the hope of building relationship/identifying additional needs if visiting in person. The question is how many new accounts the big signs in the windows attract over the regular saver collector crowd.
  • liamcovliamcov Forumite
    420 posts
    Tenth Anniversary 100 Posts Combo Breaker
    ✭✭
    What is everyone's experience (time wise) of opening the Virgin store regs?

    It's been between 20-50 minutes for each of mine. I've started saying I only have 30 mins due to parking and that seems to hurry them up and cut out the legal bits etc.
  • Elvie100Elvie100 Forumite
    59 posts
    Fourth Anniversary 10 Posts Name Dropper
    aleph_0 wrote: »
    I think there are two possibilities here. One is along the lines of your scenario. They've gone off-cycle with this new issue (only a month after the previous one). It could be that we will get a new e-Regular saver in about a weeks time, or in a week+month when the next e-Regular was due.

    The other possibility is that they've deliberately made it branch-only. Which at first glance doesn't make sense, with the costs of account opening. But at 3%, it's definitely a loss-leader, and there might be the hope of building relationship/identifying additional needs if visiting in person. The question is how many new accounts the big signs in the windows attract over the regular saver collector crowd.


    I called my local 'branch' on Friday as I was meant to go in and open an account but got delayed so have had to postpone. I asked if they would be having another online version and was told there were no plans to and they decided to limit it to branch only since they upped the interest rate to see how things go. Time will tell!
    MFW#60
  • surreysaversurreysaver Forumite
    3.1K posts
    Part of the Furniture 1,000 Posts
    ✭✭✭✭
    Elvie100 wrote: »
    I called my local 'branch' on Friday as I was meant to go in and open an account but got delayed so have had to postpone. I asked if they would be having another online version and was told there were no plans to and they decided to limit it to branch only since they upped the interest rate to see how things go. Time will tell!

    They're just BSing you I suspect. The staff in branch probably don't know about the online version yet.
    I consider myself to be a male feminist. Is that allowed?
  • Elvie100Elvie100 Forumite
    59 posts
    Fourth Anniversary 10 Posts Name Dropper
    They're just BSing you I suspect. The staff in branch probably don't know about the online version yet.

    I hope you are right...
    MFW#60
  • cosh25cosh25 Forumite
    33 posts
    Can't see it on here, but the Monmouthshire BS have a Regular Saver Bond which pays 2.50% for 12 months with a max pay in of £250.

    The account can be opened online by residents of England and Wales... if I remember correctly, it used to be postcode dependent? could be wrong.

    I've applied online and they say they'll be in touch so will see what happens!
This discussion has been closed.

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