Yorkshire Bank and Virgin Money

We have been with Yorkshire Bank in England for many years, and hang on like grim death to the account because we know that if we lose it we can’t get another.

So when Virgin Money started an apparent takeover a year or so ago I wasn’t happy but went along with all the new systems, not all of them better.

Before the takeover YB had started the process of withdrawing paper statements. No problem for me because I can check my accounts with the statement on the website. I always used to get an email from YB telling me when it was available.

2 days ago Fran got a letter, addressed to her, from Virgin Money. This blathered on for a whole para about how she could get an app, no use to us as neither of us have a smartphone. It then suggested that she ring an 0800 number as they have failed to contact her by email or SMS.

However, they do have our email address and they do have my mobile number (just recieved a code a few moments ago in order to enter our online account) so what the hell are they on about? In any case, Fran does not have an account with Virgin Money or anyone else, nor do I, we only have 2 accounts with YB in our joint names.

With incompetence like that it doesn’t give a great deal of confidence in the fact that they are looking after all our UK pension money. :roll_eyes:

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This is clearly not the point of your post so apologies in advance :see_no_evil: but I was very unhappy and closed my accounts due to the merger, but for the opposite reason, new Virgin Money is only so in name. It’s actually primarily Yorkshire Bank with a name change, and specific bits of Clydesdale (business banking) and old VM (the credit card section only) tacked on. Having had bad experiences with them in the past I wasn’t interested in going back to Yorkshire Bank with a bit of red paint splashed around and an more modern looking branch. That B app they rebranded to the new VM app was shocking, not that you’d know anything about that @David_Spardo. If things have got even more shoddy since the merger I’d guess that’s because they’re cutting costs to pay for it all, and all the other covid related costs, and trying to keep their investors happy who paid for the whole takeover which is what it really was. Anyway, I sympathise greatly with your torture at yet more bureaucratic incompetence! I swear the it’s a specific aim of these companies to see how much nonsense customers will put up with without making them leave.

No apology needed, you have explained a little of what I didn’t know. As I don’t have a business (Clydesdale) or a credit card (only debit and don’t really need that anymore) it is just moving deck chairs as far as I am concerned, so as long as they don’t make a complete cock-up, I don’t care.

By the way, what happened to the Australian bank that I thought owned Clydesdale? :thinking:

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"Virgin Money teamed up with Yorkshire Bank and Clydesdale Bank back in October 2018. Since then, we’ve been working hard to bring all the brands together under Virgin Money, creating one bank with over 6 million customers.

Our branch network all across the UK will be getting a Virgin Money makeover. Over the next few months you’ll start to see changes like a new sign above the door and a fresh new uniform for our colleagues.

Taking care of the details
You’ll start to see our new logo on things like statements and emails. Our website is getting the full Virgin Money treatment and we’ll answer the phone as Virgin Money too.

There’s nothing you need to do – we’ll take care of it all. Your account and any login details will stay the same and you can still get in touch using the normal contact information. We’re looking forward to welcoming you to our shiny new Store where you’ll get the same great service from some familiar faces."

Thank you, I never saw all that, but the first thing to strike me is,

Your account and any login details will stay the same and you can still get in touch using the normal contact information.

so what an enormous waste of money for no real change. :neutral_face:

The reason for the ‘merger’ will almost certainly be behind the scenes, probably to build a stronger balance sheet by combining assets. It might even have been a result of a BoE requirement on minimum bank assets on one or more of those involved. Building the balance sheet by recruiting new customers is extremely long winded, combining banks is far quicker. So there will have been a very real change in financial security for all customers.

Having combined assets, they were almost obliged to ‘combine’ the names.

A smart phone might have told you all this :grinning:

As for Clydesdales Auusie owners, courtesy of Wikipedia:-

the Clydesdale became part of the National Australia Bank Group (NAB), between 1987 and 2016. Clydesdale Bank was divested from National Australia Bank in early 2016 and its holding company CYBG plc, to be renamed as Virgin Money UK plc, trading on the London and Sydney stock exchanges. In June 2018, it was announced that Clydesdale Bank’s holding company CYBG would acquire Virgin Money for £1.7 billion in an all-stock deal, and that the Clydesdale and Yorkshire Bank public brands would be phased out in favour of retaining Virgin’s brand. CYBG plc’s banking businesses, Clydesdale Bank, Yorkshire Bank, Virgin Money and B, currently operate as trading divisions of Clydesdale Bank plc under its banking licence.

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I think National Australia Bank wanted to get out of the U.K. as soon as the 2008 crisis hit and just focus on matters at home but had to wait almost a decade in the end to get there. The spin off in 2016 creating the listed CYBG Plc was, I think, primarily to enable NAB to get rid of a big chunk of their ownership at a reasonable price, and as it was then a separate listed company also facilitated the ‘merger’ into VM since they were then both separate independent businesses. I’m not sure how much if any they own of the current Virgin Money U.K. Plc. But this is just from memory though so as is often the case I may be talking nonsense :see_no_evil::rofl:

Thanks both, all new to me, and as I am not from Yorkshire I don’t really give a fig what they call themselves, although I must admit the Virgin logo does conjure up visions of a rich kid playing with records. Ignoring that kid’s undoubted talent for making money, it hardly instills confidence in me. :rofl:

And @GraemeL

A smart phone might have told you all this

still not a valid reason for me to get one. :rofl:

@David_Spardo Even in the UK, WhatsApp is such a wonderful means to communicate to individuals or groups, by writing, or just speaking or on video, from almost anywhere to anywhere in the world. We have friends who ceased to be doubters as soon as they tried it for a couple of days.

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Again my comments won’t help you but after over 40years with YB, my husband has just closed the account as Virgin are hopelessly incompetent. Comments on their social media is full of very unhappy customers, so you are not alone.

But do/does you/he live in UK? If so, no problem, but almost impossible for French residents to get a normal bank acount there. I asked once when visiting at NatWest and was refused, and also at Lloyd’s, even though I have had a credit card account with them for many years. Only used now to buy books for my Kindle. :wink:

@GraemeL I have a bog standard mobile phone with large letters, large buttons and a loud speaker. All packaged in a small fliptop which is no trouble to pocket or carry and which costs very little in abonnement (€1.50/month I think) without contract (I can stop paying anytime and have already done so for Fran’s because she no longer knows how to use one) and the calls and texts are very cheap too. I put a tenner on it every couple of months or so and that’s it. If I want to speak abroad on other than an ordinary call I often speak for free to my son in Thailand, soon to be Spain, via Facebook (the only reason I have it) or Skype. I have absolutely no need to lug a great big slab around with me to do what I already do comparatively for free. Thanks, but no thanks. :astonished: :rofl:

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We do now David, but he just switched everything to our existing NatWest so much easier than gaffing about with another bank.

@GraemeL - Based on that comment I presume you’re a professional comedian…

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My eyes get a good exercise at least from reading here, they roll more than a raver at the dance tent at Glastonbury at times… :joy:


You think I might have a future in that field? You are too kind me thinks!

I am struggling to think why you are amused?