Virgin Money Discussion & Feedback

I know I said I’ll leave this but I have to say this last point:

Me saying my opinion is certainly not the same as someone telling me to “calm down” after simply saying my opinion.

Anyway, this is a question I have always wondered - why did this banking group decide to use the Virgin Money name after they bought them? With Clydesdale and Yorkshire having a longer history, I thought these might be stronger brands from a business point of view?

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They bought Virgin with the purpose of using the brand. YB resonates in Yorkshire, Clydesdale in Scotland, but Virgin resonates countrywide.

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Makes sense. Virgin is still a strand brand anyway (although some people may not understand how the Virgin company works as a whole, with many of their “products” basically just being other companies using their brand).

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Interesting, I recently got a balance transfer card, everything’s been smooth and great

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I think people’s experiences with banks will vary from person to person. A lot of it will depend on what you personally prefer and luck, especially with customer service.

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It was all fine until it wasn’t.

Basically someone else had messed up, but rather than excelling their customer service team was distant, rude, patronising and condescending. (Info here: Amazing non-Monzo customer service).

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I’m not sure the first line of that posts is applicable anymore :rofl:

Yh that’s not great at all.

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Absolutely.

The thought was that all of the old CYBG brands were too parochial and that “B” (as their new brand) was too generic.

They bought Virgin Money partly for scale, as they wanted to expand, but mostly for the brand.

Not surprising that they want a nice way to bring all of it together under one brand, which can resonate nationally. Although I agree that the Virgin brand is not exactly that “cool”, I do think it’s fairly recognisable and that’s always positive.

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It was the same back when all the Cable TV companies merged. NTL and Telewest merged together, and bought Virgin Mobile and then rebranded the whole lot ‘Virgin Media’.

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Well, I am happy that I opened the Virgin Money Exclusive Cash ISA Issue 1 (0.50%) when I did, as the rate has now dropped for Issue 2.

With Issue 1 being variable though, I wonder if a change could still be on the cards :thinking:

T&Cs say 2 months notice if change the rate.

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This is quite interesting, especially if it helps people who for whatever reason don’t switch, don’t know they can.

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Just noticed on my credit report that each Virgin Money account I opened recently attracted its own hard search :man_facepalming:

Not even requested an overdraft on any of them.

Good job not after credit.

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Current accounts have the facility to borrow on, even if you haven’t formally requested an overdraft, so the hard search will be Virgin Money satisfying itself that it wants to afford you that ability.

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They did the same to me, despite me specifically asking if they did hard searches for current accounts, and being told they don’t

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The credit reference search will have been explicitly pointed out to you during the application process, under the Data Protection blurb.

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Agreed. And I know all banks do it.

But why the hard search when no application has been made for credit?

Why not a soft search, and only perform the hard search when credit facility is requested?

After all, I could get a host of credit from other providers between opening their current account and actually applying for overdraft months, years, down the line!

Won’t be opening any more for the 2.02% interest account now then.

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Ok, you obviously know a lot more about my interactions with Virgin Money than I do. Thanks for the help.

I suspect he’s suggesting that as it would be a requirement to disclose it.

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And let’s face it, no lender really cares if you’ve opened a few current accounts with no overdraft facilities, no matter how much the CRAs fiddle with their numbers to make you think otherwise.

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Big day today! The app is finally called “virgin money” and not “personal” :raised_hands::raised_hands::raised_hands:

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