After realising that I had to call up Virgin Money to close my account, I decided to reopen my Monzo account (which was incredibly easy and quick. Well done Monzo!) to use to Current Account Switch Service to close my Virgin Money M Plus account. However, I was confused what would happen with the connect M Plus Saver.
I contacted them twice yesterday to ask them what would happen to my M Plus Saver account in this situation. Both times, they said I had to call them up to close it.
However, this isn’t what their T&Cs say. Their T&Cs state:
“These Terms apply until your accounts are closed. If your M Plus Account is closed, we’ll close your M Plus Saver at the same time. Or we’ll move the money to a similar savings account.”
This morning, I asked them again but made a clear reference to their T&Cs. It now seems that I don’t have to call them up anymore. In fact, the account will be closed as long as it has no money in it.
This is poor. Firstly, I don’t actually know what is correct. Are their T&Cs correct or will I end up with a savings account I don’t want. If their T&Cs are correct, why did it take me to point out their T&Cs for them to give me correct information?
I think this sums up my experience with Virgin Money. Everything works well unless you need to do something even slightly complicated. I do think they need to sort out their systems because, despite their modern branding, they do struggle with some simple tasks.