Sainsbury’s and Virgin Money have failed to pass on savings rate rises | Money | The Guardian
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Big pile of nothing
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Wouldn’t disagree, but still thought I would share it.
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We’re constantly told by the media to check savings rates in case your account becomes obsolete. This was an article about someone who checked their account and found it to be obsolete. So, yeah, a nothing article.
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Applied for current account week ago… completed application and… nothing. No emails, messages, letters.
I had this. Complained as my application had some how expired after 28 days and I had to apply again, this time went through properly.
£75 for a mild inconvenience.
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More than the Monzo comp for ‘inconvenience’
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I don’t see much on the complaints.
LBG was very simple, started £25, £50, £75 and then review from there, per instance too. 3 factors of a complaint can achieve £25 per factor.
And then any other costs incurred on top.
VM may work the same, nice rounded number.
HSBC too.
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Virgin now offering 2.02% on the M Plus Saver account (same as the current account) on balances up to £25000. 1.51% on balances above that figure.
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Where does that sit in the market table?
Edit: Ah, OK. Just below the top Building Soc account.
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But nowhere near as good as Barclays’s new 5% interest savings account (although you are only eligible if you have Blue Rewards).
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I’ve just applied to put a payment on my credit card into an installment plan, thought I’d try it out. Got to wait to see if they accept it 1st though 
Will save me about £40 in interest, rather than having it sat on the card at the normal APR
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What are their instalment plan offerings? I don’t think I can see them while I’m still in the promotional period of my card.
Is that through Slyce? I had an email a few days ago saying it’s coming soon.
Didn’t realise you had to apply for it. Not just do it 
I meant to get a screenshot of it and totally forget, I actually can’t get back in to find the full details now as it’s going through the process.
The payment terms were 3, 6, 9, 12, 18 & 24 months. You get charged a setup fee for the application which is a % of the full amount. But works out at a cheaper rate than the interest charged on my account.
If it gets accepted and they send through documentation, I’ll post some more details then. I think you have to apply for it, as it’s treated a bit like a mini load which is then added to the account as installments.
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I’m switching their account to tsb as the app is absolute naff and poorly designed.
Tsb isn’t much better but it’s for the £125, then just cass everything to monzo bar first direct.
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So my installment plan is set up, can’t take a screenshot of the app though.
The amount I put through was £505.90, the fee for setup was £20.06 making a total of £525.96, paying over 12 months at £43.83.
On the main screen just under the amount that is owed on the card is a banner, which when clicked takes you up a screen about your installment plans.
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Can you pay off early to save interest etc or does it now become a flex type thing?
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Just looked that up, it states any additional payments you make to the card, will reduce the amount of the installment, however your card balance for normal transactions needs to be £0. Otherwise any payments go to your normal transactions.
It then states that if you pay your installment plan early you’ll not be charged the fee for any additional months, so I’m assuming that means a refund of that setup fee 
I need to read the test of the FAQs at some point
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Ah so the fee is x £ each month, which you’d save, along with the already lowered interest?
Makes some sense you can only pay off the highest balance or main card balance first, though having said that, the cost of the Slyce could be more an outgoing than the actual card balance repayments so some flexibility would’ve been nice.
Virgin gives me early fintech vibes considering its been around a long time as Clydesdale/Yorkshire.
You’d think their app and product launches would be polished and refined, as with NatWest maybe.
An automated Slyce would’ve been much more convenient, but I guess the tech behind it isn’t there to do it just yet. Not seen any huge advertising yet except the customer emails I’ve received on it.
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