Virgin Money Accounts > Reviews

Advantages: So easy and simple
Disadvantages: takes a while to get used to it

...money. I saw the Virgin One account advertised a few times, but couldn’t quite suss it out. Money and me don’t work very well and it would have to be explained at a very simple level for me to understand it. So I went onto the webb site www.virginone.com to have a look and try and get some info. The site itself is very informative, however to get a good idea of whether this is the account for you, you need to have some figures available, ... Read review

Advantages: Flexible, total control, premium service, low cost
Disadvantages: lack of face-to-face contact

...Branson springs to mind. And Virgin One (now under Royal Bank of Scotland control) delivers in the same manner. With Virgin One gone are the days when one's mortgage value goes up instead of down, interest calculatedted monthly/annually and penalties imposed for daring to pay off huge chunk of your own debt (this is the essence of a mortgage afterall). Instead you can truly take control of your finances and not be penalised. On the contrary if ... Read review

Advantages: Easy to pay In, you can see your investment grow online, very helpful staff
Disadvantages: Can't really think of any from my point of view

...begin. I got to the virgin website and found it easy to navigate and informative, but being a bit suspicious I thought I'd ring them. Spoke to a guy called Paul who answered all the questions he could. I could get a mini stocks and shares ISA which seemed to be good for saving regularly for the long term. Now I don't have a lot of money to save so this ISA was ideal as you can open it with £1 and can deposit whenever you like up to your yearly ... Read review

Advantages: Efficient and good rate of return
Disadvantages: none to date

I transferred to the Virgin Maxi ISA when I could no longer invest in the PEP I had held for 2 years. The rate of growth has been excellent over an 18 month period. Due to some financial reversals, I had to make a withdrawal from the ISA account. The telephone staff are polite, helpful and the paperwork and subsequent cheque arrived promptly. They are about to launch an online service for checking investments and requesting withdrawals, making ... Read review

Advantages: Saves you money and the service is good
Disadvantages: Takes a while to set up and costs initially for legal fees

...mainly the good product that Virgin has on offer, namely the Virgin One account. This enables you to offset your current account funds to reduce the amount of interest you are paying on your mortgage. I now pay lower interest payments and I'll have paid off my mortgage a lot sooner than I would have with the traditional repayment scheme. Virgin are also very good with customer service. The banking is all telephone or on-line or you can use RBS facilities ... Read review

Advantages: friendly staff, good idea
Disadvantages: none!

This has to be the future of all morgages. I have just applied for my 'virgin one' account on line after reading the information on line and i have to say that if they do everything they say they do you just can't fault it. The interest rate is slightly higher than most building socioties but the concept of the account makes up for it because of the amount you can save just by putting a little bit extra each month, also there are not hidden clauses ... Read review

Advantages: Understandable literature. Real people who help.
Disadvantages: Very few if any.

I originally chose the Virgin Direct PEP a few years ago when I was finally pursuaded to look at other forms of investment than just building societies. I phoned a few companies and investment advisers and received reams of glossy brochures, all of which were impossible to read and understand. Then the Virgin booklet arrived and it was written in plain English. I opened the PEP account and have continued with the ISA. The account is easy to use ... Read review

Advantages: Flexibility
Disadvantages: Bit picky, but the variable rate

We took out a One Account mortgage a couple of years ago as soon as our old mortgage redemption penalty period was up. We were able to transfer a car loan (8.5%) and other credit card debts onto our mortgage account and still paid the same amount per month as we were for our previous mortgage. The rate you pay depends on the loan to value rate (ie the difference between the amount you want to borrow and what your house is worth - eg. you want ... Read review

Advantages: All in one account
Disadvantages: None

...told me to look at Virgin One. This I did and it has being the best finacial move I have ever done. The change in my account was very well handled by Virgin. At the time I had two loans for my wife's car and my own. I was paying far to much intrest on these loans (18% & 16%). When I started my Virgin One account I paid of these loans and this saved me a lot of money. With the intrest charged on a daily basis this also saves money. With the money I ... Read review

Advantages: Available 24/7
Disadvantages: no face to face

The Virgin One account combines all your banking needs, (ie, Mortgage, cuurrent, savings and credit card accounts ). Your property is valued and if accepted you can borrow up to the valuation. Any savings reduce the interest and therefore length of loan. You must pay off all borrowings by the time you retire. This account can be very good but beware you keep an eye out that you dont keep borrowing up to limit, or you could get yourself into deep ... Read review

Advantages: Low charges, flexible
Disadvantages: None

I have recently opened a Virgin mini stocks and shares tracker ISA, which I pay into monthly by direct debit. The whole process of finding out about the product and actually opening the account was totally straightforward and accomplished quickly. I chose the account because the management charges are very low (1% - because this is essentially a mechanical investment strategy, tracking the Footsie All Share) and because the company are reputable and ... Read review

Advantages: Loads of Spare Cash
Disadvantages: Non I no of yet

...more. It seam's that Virgin Direct have all the answer's, except for the term virgin. As they are so well used now that other banks will start to take more notice of them. The way the account work's is cool, You have say an overdraft of £100,000 and each month you wage's go into it, so that brings it down to say, £98,000, e.g. £2000 quid wage's a month. Then you pay off your normal mortgage and the money that is left cut's down your interest. So ... Read review