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TheCountOfNowhere

Virgin Money ( Aka Northern Rock ).

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We are writing to give you advance notice that we will shortly be reducing the interest rate payable on your Virgin Savings account from 1.41% Gross† P.A/AER‡ to 1.21% Gross† P.A/AER‡.

For a bank that owes it's very existence to the British public they aint half trying to shaft the very people who saved them.

Time to withdraw money en masse from the banks.

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Some 'peer to peer' lender was advertising on ITV or C5 the other day offering 4%.

Then again 'peer to peer' could mean getting round the banking rules

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We are writing to give you advance notice that we will shortly be reducing the interest rate payable on your Virgin Savings account from 1.41% Gross† P.A/AER‡ to 1.21% Gross† P.A/AER‡.

For a bank that owes it's very existence to the British public they aint half trying to shaft the very people who saved them.

Time to withdraw money en masse from the banks.

My instant access ISA will be going from 1.5 % to 1.31%. Thanks Virgin! <_<

Virgin screwing it's savers - how ironic. :rolleyes:

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My instant access ISA will be going from 1.5 % to 1.31%. Thanks Virgin! <_<

Virgin screwing it's savers - how ironic. :rolleyes:

Ditto mine too. That's a bit less I'll be spending then thank you very much Branson.

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We just got our emails, rate dropping to 1.21% late January.

A quick look around the online accounts shows that 1.55% is achievable elsewhere on instant access, so I'll be moving the money we have with Virgin on our return to UK next month.

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plus the NR through to V.M. standard variable rate for mortgages is one of the higher ones and has been for years.

4.79 percent!

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Meanwhile Virgin media are putting prices up by between 5-10% for all their customers at the end of the month.

Unless you cancel in which case they'll put the price down to less than you were paying before.

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Suddenly 1.21% doesn't seem that bad anymore...CPI at 0.5% and almost certainly going negative within the next couple of months.

God only knows how CPI will stay positive this month with petrol at my local garage down from £1.399 to £1.029, but hey I guess the formula will assure a bit of inflation. Most economists think CPI overstates by as much as 2%. Well we really need a bit of overstating going forward to keep the indebted happy. Wouldn't want them to think their debts are growing in real terms and bring about a cataclysmic panic.

http://cafehayek.com/2006/09/cpi_bias.html

Edited by crashmonitor

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It is clear to see that savers are scratching around on the bottom now......your cash savings, often saved whilst working, saved to provide a buffer for the future are being stolen slowly bit by bit each day.....massive creating of money at a flick of a finger has seen to that.

They want you to spend,spend, spend.....borrow, borrow, borrow whether you can afford to or not or want to or not.....they want people and nations to become beholden and dependant to those richer than them...the ones that have amassed and holding the assets we all require to live on this world.

They want people to gamble and bet on commodities, stocks, bonds and suspect unsafe or dubious investments.....everyone wants a cut/slice/commission, to cream the available sums for themselves..........massive amounts of money at even minute fractions add up to a big pot.

Short-termism is the name of the game......grab it or steal it while you can and keep it going for as long as you can......tomorrow is another day, let the future deal with it. ;)

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ahh, thats who virgin money are. I get letters from them every 3 months or so asking me to contact them about my account. Never opened an account with virgin so throw them away. I did once have an account with northern rock ...no money in it. :(

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Just had the dreaded message.

From the 7th september 2015 my e-isa rate will drop from 1.31% to 1.11%

Barstewards.

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Just had the dreaded message.

From the 7th september 2015 my e-isa rate will drop from 1.31% to 1.11%

Barstewards.

I got the same message. :(

Something came to me the other day. Does anyone remember the halcyon days when you used to get interest added to current accounts that were well managed? :lol: I wonder if we will ever see the like again. :unsure:

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Me too...

We are writing to give you advance notice that on 7 September 2015, we will be reducing the interest rate payable on your Virgin Savings account from 1.21% Gross† P.A/AER‡ to 1.01% Gross† P.A/AER‡.

I left a few hundred quid in there to keep the accounts open in case I ever need a home for some money in a hurry, but moved most of the funds into a Post Office savings account (Bank of Ireland) in January, which is paying 1.7% until next January.

Northern Rock were paying 6.8% in 2007/8, after Brown bailed them out, with unlimited Treasury guarantee. Those were the days.

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