Nationwide To Buy Virgin Money



Didnt mind Yorkshire bank. Found Virgin customer service to be awful. Their apps are canny mind. All change again. Might be time to move on for a 200 quid bonus
 
Phantom of mobs said:
Didnt mind Yorkshire bank. Found Virgin customer service to be awful. Their apps are canny mind. All change again. Might be time to move on for a 200 quid bonus
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I was with Yorkshire until I went to Uni and it was ok.
But I was so so so pissed off when my mam mentioned that they'd been charging her a chaps fee of about £20 every time she'd been putting money into my bank. The robbing gets - sometimes it was only £10-20 she was putting in.
She worked next door to the branch, so I was thinking it was just as easy for her to drop it into the bank as for me to come down and get it (was things like "I've got some money for the bairns to buy them some shoes" or stuff like that). I felt terrible that she'd been paying that fee for my convenience for years.
 
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PTR said:
I was with Yorkshire until I went to Uni and it was ok.
But I was so so so pissed off when my mam mentioned that they'd been charging her a chaps fee of about £20 every time she'd been putting money into my bank. The robbing gets.
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Awful that mind. Robbing pirates
 
Interesting. Didn't see that one coming. Virgin had already swallowed up Clydesdale, Yorkshire and much of Northern Rock

Got my mortgage and cash ISA with Virgin and found them OK but they can get confusing as they are still separate banks behind the scenes.

At least Nationwide are one of the few banks still left on my local high street.
 
Darlo1973 said:
Interesting. Didn't see that one coming. Virgin had already swallowed up Clydesdale, Yorkshire and much of Northern Rock

Got my mortgage and cash ISA with Virgin and found them OK but they can get confusing as they are still separate banks behind the scenes.

At least Nationwide are one of the few banks still left on my local high street.
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I'd be switching my current account to them if I were you then, as it could mean you get the yearly bonus from them if they decide to pay out. Members got an email last week to say the board were discussing it at the next meeting. They sent the same communication out last year and paid everyone £100 in May. You had to have an account and either a savings, mortgage or ISA account too. I've considered these switch offers and it's not worth it when you're getting a £100 for free every year and access to member rates. Nationwide are by far the best bank I've dealt with.
 
Botchie said:
I'd be switching my current account to them if I were you then, as it could mean you get the yearly bonus from them if they decide to pay out. Members got an email last week to say the board were discussing it at the next meeting. They sent the same communication out last year and paid everyone £100 in May. You had to have an account and either a savings, mortgage or ISA account too. I've considered these switch offers and it's not worth it when you're getting a £100 for free every year and access to member rates. Nationwide are by far the best bank I've dealt with.
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Nationwide are a building society not a bank.
 
Botchie said:
I'd be switching my current account to them if I were you then, as it could mean you get the yearly bonus from them if they decide to pay out. Members got an email last week to say the board were discussing it at the next meeting. They sent the same communication out last year and paid everyone £100 in May. You had to have an account and either a savings, mortgage or ISA account too. I've considered these switch offers and it's not worth it when you're getting a £100 for free every year and access to member rates. Nationwide are by far the best bank I've dealt with.
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Only 1 in 5 got paid the £100. It was something of a PR og.
 
Darlo1973 said:
Interesting. Didn't see that one coming. Virgin had already swallowed up Clydesdale, Yorkshire and much of Northern Rock
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Technically Clydesdale/Yorkshire bought VM but retained their branding as it’s “cooler”.
Looks as though the purchase by Nationwide is now agreed, subject to shareholder approval.
Might be a couple years before VM brand itself disappears. Going the way of Virgin Cola and some of the other stupid brands.
 
Phantom of mobs said:
Didnt mind Yorkshire bank. Found Virgin customer service to be awful. Their apps are canny mind. All change again. Might be time to move on for a 200 quid bonus
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Apps in plural means it's somewhat if a contradiction to say they're canny.
It's ridiculous that they haven't put them all into a single app, separate app for current account, savings & credit card is an absolute joke.
 
Darlo1973 said:
Interesting. Didn't see that one coming. Virgin had already swallowed up Clydesdale, Yorkshire and much of Northern Rock

Got my mortgage and cash ISA with Virgin and found them OK but they can get confusing as they are still separate banks behind the scenes.

At least Nationwide are one of the few banks still left on my local high street.
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Clydesdale bought Yorkshire, and then that lot bought Virgin.
Problem was the Clydesdale brand was honking so they pay beardy a lot of money to use the Virgin name instead.
42 said:
Apps in plural means it's somewhat if a contradiction to say they're canny.
It's ridiculous that they haven't put them all into a single app, separate app for current account, savings & credit card is an absolute joke.
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weirdly they were a single app up until 2019 or so
 
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peil said:
Clydesdale bought Yorkshire, and then that lot bought Virgin.
Problem was the Clydesdale brand was honking so they pay beardy a lot of money to use the Virgin name instead.

weirdly they were a single app up until 2019 or so
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Think it's the clydesdale / Yorkshire thing, in that they haven't migrated the old NR systems over so ended up with multiple set ups
 
42 said:
Think it's the clydesdale / Yorkshire thing, in that they haven't migrated the old NR systems over so ended up with multiple set ups
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Back end had separate batches running CB and YB loads up till 2019, and then merging at report and app level.
They managed to get most of that onto a single batch, but the VM stuff is still separate. So you get a CB set of batches, then the VM batches pulled in.

Several years after the merger and it's only recently they've had everyone logging into the same systems instead of needing two separate laptops.

Problem has been, they are now big enough to be treated as a Tier 1 bank, with all the extra regulatory issues, but there's been almost sod all funding for tech upgrades since they were spun out of NAG in 2014.
At least with Nationwide, they don't have to chase a share price, and can hopefully take their time and do it right.
Intersting twist is Debbie Crosby, Nationwides CEO, was at CB till 2019, and will have a fair idea of where the bodies are buried.
 
peil said:
Back end had separate batches running CB and YB loads up till 2019, and then merging at report and app level.
They managed to get most of that onto a single batch, but the VM stuff is still separate. So you get a CB set of batches, then the VM batches pulled in.

Several years after the merger and it's only recently they've had everyone logging into the same systems instead of needing two separate laptops.

Problem has been, they are now big enough to be treated as a Tier 1 bank, with all the extra regulatory issues, but there's been almost sod all funding for tech upgrades since they were spun out of NAG in 2014.
At least with Nationwide, they don't have to chase a share price, and can hopefully take their time and do it right.
Intersting twist is Debbie Crosby, Nationwides CEO, was at CB till 2019, and will have a fair idea of where the bodies are buried.
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She also used to be at TSB of which nationwide tried to previously buyout
 
peil said:
Back end had separate batches running CB and YB loads up till 2019, and then merging at report and app level.
They managed to get most of that onto a single batch, but the VM stuff is still separate. So you get a CB set of batches, then the VM batches pulled in.

Several years after the merger and it's only recently they've had everyone logging into the same systems instead of needing two separate laptops.

Problem has been, they are now big enough to be treated as a Tier 1 bank, with all the extra regulatory issues, but there's been almost sod all funding for tech upgrades since they were spun out of NAG in 2014.
At least with Nationwide, they don't have to chase a share price, and can hopefully take their time and do it right.
Intersting twist is Debbie Crosby, Nationwides CEO, was at CB till 2019, and will have a fair idea of where the bodies are buried.
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Wonder if she has a “close working relationship “ with David Duffy CYBG head, which has brought this acquisition discussion to where it’s at.
 
Drifter said:
Wonder if she has a “close working relationship “ with David Duffy CYBG head, which has brought this acquisition discussion to where it’s at.
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Wouldn't surprise me, she reported to him up till 2019 as COO.

Makes sense why they've been so heavy on costs the past wee while, lining them up for someone to take a bite, they just don't have the scale to step up against the real big boys
 

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