Oh what a crying shame that Richard Branson doesn't consider real people and real life situations with his Virgin Money business.. Entrepreneurs and people just like you RICHARD BRANSON are being prevented from being creative and inventive in this bleak recession time.. And why because of pointless bureaucracy .. Just like the government in fact.. One policy for all.. Hypocritical or what ???!!! I'm talking mortgages and options..We want to move house in order to make improvements to our finances and long term outlook. We are discerning, intelligent people with integrity and a commitment to our future. However having been with Northern Rock Building Society where we were loyal customers for many years we find ourselves up against a narrow and bigoted system guaranteed to make it difficult for people like us. We want to move house to reduce our mortgage and secure our future as we age. However although we have enough income we have been given conflicting advice from VIRGIN MONEY.. and now find that the ridiculous system is so rigid and changed to make it almost impossible for us to move to a cheaper property! Where is the logic or sense in this? Even the employee at VIRGIN MONEY at the other end of the telephone line seemed to be struggling with the new policy.
After spending ages looking around at different saving accounts. I found one that looked great with virgin that was a 12 month locked in service where you gained good interest and you could add as much as you wanted but not removed it which is exactly what i needed.
After the long set up process it asked for an initial deposit to open it so i put in £5 just to open it up. In the following months i attempted to make further deposits in the way that it said to do it which was very complicated and no straight forward instructions. Only when i checked by bank statement the payments had all bounced back. So i have had £5 in a savings account for the last year which i could not add too and with not a lot of help or guidance on the website.
I have just received the email to say that i can withdraw my amount soon. But it is safe to say i don't think i will be taking one out again.
I use Virgin, Barclays, Lloyds and First Direct. I've been with Virgin for 5 years and it was the worst and decided to close my account. They are extremely rude, and have the policy "If you don't like it, close your account. We don't care'.
I've been with Barclays for 15 years. I've had a few troubles, but overall they try hard and I'm happy to keep it. Lloyds and First Direct are ok too. It's normal to have a few problems and see bad customer reviews on-line, but I saw Barclays staff try to reply to some comments whereas Virgin never have. That shows a lot about the bank.
I write to warn others of getting involved with Virgin Money. In 2011, I took out a Virgin Money Credit Card, it was the 0% account on balance transfers, perfect for my particular situation at the time. Despite having set up my direct debit, I was one-day late. That's right, just one day. However, it wasn't until one year later (when I received my annual statement) that I saw I had had the 0% offer withdrawn, due to being one day late.
The cost? Virgin charged me over £1,300. Be warned, this is not the so-called friendly company they claim to be. Awful behavior.
Home insurance renewal: Got charged £20.00 fee for having not enough money in my bank for a newly created direct debit from a completely different company. Updated documents never sent out and no authorised direct debit mandate in place with new company. Promised a refund but failed to materialise. Changed amount, changed date and they think they can dip into my account whenever it pleases them. Policy cover is worse than the previous year and they say it's "all automatic". That includes taking a fee + the regular monthly amount at the same time = 2 separate direct debits! Refund by CHEQUE? Waited over a month, FSA will be notified. Unbelievable, what if I have to make a claim? Imagine the disgusting service? Seeking new home insurance company.