Dont put your money in virgin money

[tinkybelle]

I have a large amount of money in virgin money, you have to move 1k per month to the account to get the paultry 5.05%.
my husband moved it from his VM to mine and I didn't get the bonus money 2 mths running( I was busy and had a death in the family so did not notice). it was 1k per month interest, so I waited till today to move the money out to better interest UBANK at 5.5% Refer A Friend And Score A Bonus - ubank
lo and behold tried to increase the max amount and its going round and around for 1 hr and tried to call but no they are tn there on Sundays what sort of dickie bank is this? dont do it dont use virgin

 

[asterix]

I have a large amount of money in virgin money, you have to move 1k per month to the account to get the paultry 5.05%.
my husband moved it from his VM to mine and I didn't get the bonus money 2 mths running( I was busy and had a death in the family so did not notice). it was 1k per month interest, so I waited till today to move the money out to better interest UBANK at 5.5% Refer A Friend And Score A Bonus - ubank
lo and behold tried to increase the max amount and its going round and around for 1 hr and tried to call but no they are tn there on Sundays what sort of dickie bank is this? dont do it dont use virgin

I only use Virgin Money on the last day of each month when I move my funds out of ME Bank so that my account balance doesn't grow too much. On the first of the month everything gets transferred out of Virgin Money. Transfers from ME Bank to Virgin Money and vice versa are instant since they are both under the BOQ umbrella.

 

[Brissy1]

I have a large amount of money in virgin money, you have to move 1k per month to the account to get the paultry 5.05%.
my husband moved it from his VM to mine and I didn't get the bonus money 2 mths running( I was busy and had a death in the family so did not notice). it was 1k per month interest, so I waited till today to move the money out to better interest UBANK at 5.5% Refer A Friend And Score A Bonus - ubank
lo and behold tried to increase the max amount and its going round and around for 1 hr and tried to call but no they are tn there on Sundays what sort of dickie bank is this? dont do it dont use virgin

Have you tried turning it off and on?

(Try opening in chrome; close (not just exit) the app; clear cache/cookies/site data; restart computer/phone)

(BTW, I avoid all accounts that have a requirement for end of month balance to be higher)

 

[asterix]

Have you tried turning it off and on?

(Try opening in chrome; close (not just exit) the app; clear cache/cookies/site data; restart computer/phone)

(BTW, I avoid all accounts that have a requirement for end of month balance to be higher)

I purposely only grow them by 1 cent.

 

[n7of9]

Good job on moving to UBank, they offer a much better experience.

 

[Catweazle]

What are the perks, if any, of having your home and contents insurance with them? I'm looking at new quotes and Virgin Money popped up.

 

[Quickstatus]

so I waited till today to move the money out to better interest UBANK at 5.5% Refer A Friend And Score A Bonus - ubank

Ill let you put your $$$ in my loan account for 6%. .

 

[MEL_Traveller]

Also worth considering Qudos. No requirement to add to the account each month. Interest rate is slightly lower than 5%, but you get a swag of QFF points each month. The advantage that the latter aren’t taxed.

 

[serfty]

Also worth considering Qudos. No requirement to add to the account each month. Interest rate is slightly lower than 5%, but you get a swag of QFF points each month. The advantage that the latter aren’t taxed.

For this one, you need to value a QFF point at 3¢ or more - the account currently earns 4¼% PA and 400 QFF Points per $1K per annum.

So on raw terms, a $10K deposit held for a year earns a little more than $425 in interest and 4000 QFF points.

Compared with the same in UBANK, that's $550 interest and no points.

Qantas Points Saver | Qantas Savings Account | Qudos Bank

Earn Qantas Points with our Qantas Points Saver. Enjoy the a competitive interest rate on savings and earn Qantas Points at the same time. Fnd out more!

www.qudosbank.com.au

 

[MEL_Traveller]

For this one, you need to value a QFF point at 3¢ or more - the account currently earns 4¼% PA and 400 QFF Points per $1K per annum.

So on raw terms, a $10K deposit held for a year earns a little more than $425 in interest and 4000 QFF points.

Compared with the same in UBANK, that's $550 interest and no points.

Qantas Points Saver | Qantas Savings Account | Qudos Bank

Earn Qantas Points with our Qantas Points Saver. Enjoy the a competitive interest rate on savings and earn Qantas Points at the same time. Fnd out more!

www.qudosbank.com.au

Yes, but factor in the tax rate at top tax margin, and it brings it down to about 1.8c per point.

U bank - like many others - seems to have a minimum deposit amount? ($500 if i read correctly, and multiple accounts required for amounts over $100k). So for Qudos i don’t have to do any of that, which is a small added benefit.

1.8c might be in the high side… but i don’t really have any other major way to earn QFFF points. And the points have come in handy at times, like a last minute US transcon last week during the lead-up to the potential Air Canada strike.

 

[lovestotravel]

Banks have started to reduce the interest rates on savings account

AMP changed from 5.4% to 5.2% last week