Regular Saver Thread **New and Restarted**
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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.
Westie983I’m a Forum Ambassador and I support the Forum Team on the Banking & Borrowing, and Reduce Debt & Boost Income boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySaving Expert.Save 12k in 2023 #58 Total (£4500.00) £2500.00/£5000 = 50.00%Sealed Pot Challenge ~17 #24 Total (£55.00) £0.00/£500 = 0.00%Xmas 2023 £1 a Day #13 Total (£85.00) £344.00/£365 = 94.24%Virtual Sealed Pot #1 Total (£500) £550.00/£500 = 110.00%£2 Savers Club 2023 #17 Total (£25.00) £45/£300 = 15.00%The 365 1p Challenge 2023 #7 Total £656.19/£667.95 = 98.23%Total £4095.19/£7332.95 = 55.84%0 -
bubieyehyeh wrote: »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.
Westie983I’m a Forum Ambassador and I support the Forum Team on the Banking & Borrowing, and Reduce Debt & Boost Income boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySaving Expert.Save 12k in 2023 #58 Total (£4500.00) £2500.00/£5000 = 50.00%Sealed Pot Challenge ~17 #24 Total (£55.00) £0.00/£500 = 0.00%Xmas 2023 £1 a Day #13 Total (£85.00) £344.00/£365 = 94.24%Virtual Sealed Pot #1 Total (£500) £550.00/£500 = 110.00%£2 Savers Club 2023 #17 Total (£25.00) £45/£300 = 15.00%The 365 1p Challenge 2023 #7 Total £656.19/£667.95 = 98.23%Total £4095.19/£7332.95 = 55.84%0 -
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!!How's it going, AKA, Nutwatch? - 12 month spends to date = 2.31% of current retirement "pot" (as at end March 2024)0 -
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.0 -
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.0 -
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.0 -
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!Was MFW#60 - mortgage paid off December 20210 -
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?0 -
surreysaver wrote: »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...Was MFW#60 - mortgage paid off December 20210 -
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!0
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