Compare all Virgin Money savings accounts
Stay away, dont even bother
Where to start... these guys are the worst! Signing up to their savings account was a nightmare. They send you 3 postal letters, each containing a secret pin number which arrived spaced out in 3 weeks. You need all these pins to activate your acco... Full review
Where to start... these guys are the worst! Signing up to their savings account was a nightmare. They send you 3 postal letters, each containing a secret pin number which arrived spaced out in 3 weeks. You need all these pins to activate your account. Their savings promotion is a scam, they promised $50 bonus if you deposited a minimum of $1000 per month for 4 months. The bonus never came... Now I'm trying to close my account and withdraw all my funds, it's been 4 weeks and still cannot get a resolution. The worst thing about all this is their customer service, in which they have none. No matter how many emails or phone calls you leave them they always seem to surprise you and leave you in the dark. One email was replied addressed to Kristine, my name is not Kristine, which makes me think they just copy and paste replies. Trust you money elsewhere people, if you ever want to see it again.
2 people found this review helpful – do you?
YesCitibank resellers. Avoid. Everything that's terrible about Citibank without actually being a recognized bank. Only reason to bank with them is to take advantage of limited special offers or cash bonuses for opening accounts. After you've claimed ... Full review
Citibank resellers. Avoid. Everything that's terrible about Citibank without actually being a recognized bank. Only reason to bank with them is to take advantage of limited special offers or cash bonuses for opening accounts. After you've claimed that, take all the money out and run away!
3 people found this review helpful – do you?
YesDuped into opening a savings account on the promise of a $50 top up from Virgin. Offer not honoured. Have just closed my account with them. Disappointed Full review
Duped into opening a savings account on the promise of a $50 top up from Virgin. Offer not honoured. Have just closed my account with them. Disappointed
3 people found this review helpful – do you?
YesAttracted by their rates with on line saver. Sudden rate changes and no notification of what rate I am getting on my savings on their website. No messages in their message section of website showing changes in rates. Deceptive and not to be tru... Full review
Attracted by their rates with on line saver. Sudden rate changes and no notification of what rate I am getting on my savings on their website. No messages in their message section of website showing changes in rates. Deceptive and not to be trusted. This doesnt mean your money is not safe as it still is gov guaranteed until feb 2012 There are much better more reliable and transparent banks to deal with
2 people found this review helpful – do you?
Yesit's easy to use online banking and they have good rates! If it's just for saving, virgin money is wonderful!! Full review
it's easy to use online banking and they have good rates! If it's just for saving, virgin money is wonderful!!
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YesHigh Interest on return of 6.51% Plus $50 Bonus incentive for regular saving all this from a online savings account. Flying high with Virgin Money Full review
High Interest on return of 6.51% Plus $50 Bonus incentive for regular saving all this from a online savings account. Flying high with Virgin Money
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Yesi joined virgin money as they have a great saving plan,as I am terrible at saving money and so i joined and they are willing to an add up option so i double my savings, Well ya can't beat that, what a saving. So go virgin money, GREAT STUFF. Full review
i joined virgin money as they have a great saving plan,as I am terrible at saving money and so i joined and they are willing to an add up option so i double my savings, Well ya can't beat that, what a saving. So go virgin money, GREAT STUFF.
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YesThis has been the worst experience and the biggest waste of time. They couldn't get it together to link my online saver to nominated account. I was called for missing credit card payments when there was clearly more than enough in online saver to ... Full review
This has been the worst experience and the biggest waste of time. They couldn't get it together to link my online saver to nominated account. I was called for missing credit card payments when there was clearly more than enough in online saver to cover. So many hours on the phone trying to fix. AWFUL!
2 people found this review helpful – do you?
YesI like the ease of use with this online savings account. It is so easy to deposit and transfer money out of my separate accounts. It has no account keeping fees and has a good standard interest rate. Full review
I like the ease of use with this online savings account. It is so easy to deposit and transfer money out of my separate accounts. It has no account keeping fees and has a good standard interest rate.
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YesThe best interest rate I could find at the time, better than any fixed term deposit. Full review
The best interest rate I could find at the time, better than any fixed term deposit.
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YesVirgin Money always have the best rates and always have bonus offers and competitions. Their online system is very easy to use and they don't hide any terms and conditions from their customers. They use plain language and communicate their message... Full review
Virgin Money always have the best rates and always have bonus offers and competitions. Their online system is very easy to use and they don't hide any terms and conditions from their customers. They use plain language and communicate their message clearly to their potential customers.
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YesVery creative product. I like it very much. Bravo Virgin Money! Full review
Very creative product. I like it very much. Bravo Virgin Money!
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YesI have never written a review but this has to be done! Virgin Saver is the biggest waste of time! Itâ??s been 2 months and I am still trying to get my money back and close the account down! DO NOT USE VIRGIN... Full review
I have never written a review but this has to be done! Virgin Saver is the biggest waste of time! Itâ??s been 2 months and I am still trying to get my money back and close the account down! DO NOT USE VIRGIN...
2 people found this review helpful – do you?
YesThe online access account is almost impossible to use. I am very familiar with online banking and Virgin Online Saver was NOT WORTH THE HASSLE. I opened an account to take advantage of the $50 cash offer, as well as 6.51% interest rate. First... Full review
The online access account is almost impossible to use. I am very familiar with online banking and Virgin Online Saver was NOT WORTH THE HASSLE. I opened an account to take advantage of the $50 cash offer, as well as 6.51% interest rate. First of all I had to set up a linked account and trasnfer money in to activate. The money transferred but the link did not happen, so I missed out on the $50 cash. Then I followed the instructions to activate over the phone, and the internet. However the stupid method they use to enter your password is awkward, so it is time consuming to log in. Then they ask a security question but half the time they wouldn't accept my answers even thought I knew they were correct. It took an average 30minutes to login each of the 5 times I tried. Twice I needed to call customer support and get them to sort it out. Finally I closed the account. NOT WORTH THE HASSLE!!!
1 person found this review helpful – do you?
YesPros: Competitive high interest rate (though currently not the highest) was what first attracted me. Cons: Slow transfer to linked accounts, unimpressive service, offers proven to be falsely advertised! I have closed the account! Overall: I ... Full review
Pros: Competitive high interest rate (though currently not the highest) was what first attracted me. Cons: Slow transfer to linked accounts, unimpressive service, offers proven to be falsely advertised! I have closed the account! Overall: I set up an Virgin account last year because I am always on the lookout for the best interest rates to keep my money. Initially, I was quite happy with it, until I realised that: 1) Transferring funds from Virgin to my linked account (Commonwealth bank) can take up to as long as one and a half weeks. (Tolerable) 2) Every time you call them, their call centre is obviously based overseas where the staff give you textbook answers. (Tolerable) 3) The main thing that made me switch was that Virgin sent me an email (addressed to MY NAME) saying that if I transfer $1000 for 3 consecutive months, I will receive $50 bonus interest at the end of the 3 months. I know this is only eligible to certain customers. The email states that I was eligible. So I did what the terms laid out. At the end of the three months, I did not get the $50 interest. I called them and the staff said that it was for NEW customers only. When I stated the email was address specifically to ME, they said it is automatically generated from their Marketing department, and sent to EVERYONE. They can't possible just send it to new customers only because it is more convenient this way to mass-send it. This SHOCKED me. Its misleading and caused me so much inconvenience to transfer $1K every month from my primary linked account just to get this reply. They would not budge or be flexible. They apologised politely, but I think this is unacceptable behaviour from a bank and I can't trust their future offers anymore. So I rather switched high interest accounts, even if the account may offer a slightly lower rate! I am currently using an online bank for Savings that has Australian based call centre, higher interest rate than Virgin and much more reliable and trustworthy! Should have done it sooner.
2 people found this review helpful – do you?
YesTheir Customer service staff are located overseas and I am dubious about providing my personal information like DOB etc to people overseas as they are not covered by our laws. Dangerous to provide this info by phone. Full review
Their Customer service staff are located overseas and I am dubious about providing my personal information like DOB etc to people overseas as they are not covered by our laws. Dangerous to provide this info by phone.
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YesEasy to set up account, highest intro interest rate, competing with the big banks Full review
Easy to set up account, highest intro interest rate, competing with the big banks
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YesThe introductory interest rate is good, but it was a real slog to get past the initial deposit stage, much slower than other online products I've used. Also, I find the website really hard to navigate around, which is a real detraction. However, ... Full review
The introductory interest rate is good, but it was a real slog to get past the initial deposit stage, much slower than other online products I've used. Also, I find the website really hard to navigate around, which is a real detraction. However, customer service were helpful when I rang to get help with finding out where features were hidden on the site. But overall, as it's only 4 months of higher interest then I can get elsewhere, I wish I hadn't bothered setting up a Virgin Savings account.
1 person found this review helpful – do you?
YesVirgin Money's savings product is not as I'd have hoped. Initial account opening is rather slow. Account activation is also rather slow and very inconvenient. Not much by the way of features. Customer service has been generally ok though, sometime... Full review
Virgin Money's savings product is not as I'd have hoped. Initial account opening is rather slow. Account activation is also rather slow and very inconvenient. Not much by the way of features. Customer service has been generally ok though, sometimes I couldn't understand the person on the other end. Only get it if you want the high interest rate, it's not really worth it in my opinion.
2 people found this review helpful – do you?
YesGood interest rate but their customer service very slow and poor web site makes it not worth it, there are numerous other company's who are easier to deal with and offer a far more professional service than this mob, believe me don't bother its no... Full review
Good interest rate but their customer service very slow and poor web site makes it not worth it, there are numerous other company's who are easier to deal with and offer a far more professional service than this mob, believe me don't bother its not worth it.
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YesVirgin Saver, a very simple, convenient savings account. Has a high interest rate, which attracts savers like me. However, it does not have any rewards or programs, nor does it have any especially striking features. Maybe this is why it's interes... Full review
Virgin Saver, a very simple, convenient savings account. Has a high interest rate, which attracts savers like me. However, it does not have any rewards or programs, nor does it have any especially striking features. Maybe this is why it's interest rates are so high, it compensates for other things :) I would recommend this to others if they want something simple and saves your money. But if you want something nice and friendly and easy to use, look elsewhere :)
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YesI took on this account as had the Highest rate of Interest currently with a Bonus rate put in the top interest rates of all Australia for a Online saver. Seems safe and easy to use as backed by Citibank - I have no idea about Branch's as I only us... Full review
I took on this account as had the Highest rate of Interest currently with a Bonus rate put in the top interest rates of all Australia for a Online saver. Seems safe and easy to use as backed by Citibank - I have no idea about Branch's as I only use it online - which I would recommend
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YesIf you want to transfer more than $10k a day, you need to use the manual transfer function. The problem is, there is no way to track if you have put in this transaction, nor it does not show anywhere online. The worst thing is, when you call the ... Full review
If you want to transfer more than $10k a day, you need to use the manual transfer function. The problem is, there is no way to track if you have put in this transaction, nor it does not show anywhere online. The worst thing is, when you call the front help-desk, they have no bloody idea if your transaction has gone through, nor they can't talk to their back office to check. The other problem is, they need to call your mobile to validate the transaction, which is good in terms of security. However, if you miss their call, that's it, you can't call them back until they have mood to call you. If you need money on the same day, bad luck, you can't! Definitely I won't recommend anyone to use Virgin Money as it's not reliable, and you may not get your money!
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YesIt has the best interest rate for saving, easy to transfer money into, love it! Full review
It has the best interest rate for saving, easy to transfer money into, love it!
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YesI've been recommending the Virgin Money savings account to my family and friends. I like how you get a high interest rate of 6.75% p.a. for the first 4 months, and then you get an ongoing rate of 5.35% p.a. I haven't found a better savings product... Full review
I've been recommending the Virgin Money savings account to my family and friends. I like how you get a high interest rate of 6.75% p.a. for the first 4 months, and then you get an ongoing rate of 5.35% p.a. I haven't found a better savings product anywhere else. I had an issue when I set up the account (wasn't able to transfer money into it from the website) and when i called the hotline a person actually answered and they asked me to send a screen shot to their helpline email address and that someone would get back to me. I did this thinking I would never hear back - but within the hour I had an email back explaining how to fix the issue. I was actually really impressed. The cons are a) that there isn't an actual branch you can visit for this account and b) that there is no ATM card that comes with it. However you dont really need those things as its really simple to transfer your money out into your normal everyday account.
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YesI opened a savings account with Virgin Money a couple of weeks ago. It has been nothing but a nightmare since with almost daily calls to their Asian call centre where you get a different story from everyone you speak to. Promises that 'I have es... Full review
I opened a savings account with Virgin Money a couple of weeks ago. It has been nothing but a nightmare since with almost daily calls to their Asian call centre where you get a different story from everyone you speak to. Promises that 'I have escalated your concerns and someone will call you back tomorrow' are not followed through. Even a final phone call to close the account after only having been open for a week could not be resolved on the spot and I was told that I would have to wait 3 business days, then apply to close it online, and then wait 5 business days for them to transfer the money out of the account and actually close it. The website is also really difficult to navigate around which is a real downside for an online savings account.
1 person found this review helpful – do you?
YesWhat type of savings account are you looking for?
minimum deposit, no withdrawals
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