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Forums Payment cards Virgin Atlantic credit cards Virgin Cash Advance fees about to be applied?

Virgin Cash Advance fees about to be applied?

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  • Rui N.

    People here said it shows right away, not on the statement.
    Also, you are thinking about the interest, but before that you have the cash advance fee (max of 5%/£5).

    CarpalTravel

    I am. The site says there isn’t a min fee?

    https://uk.virginmoney.com/virgin/service/credit-card/messages/cash-advances.jsp

    Just checked my statement and it states:

    The transaction fees below apply to standard interest rate transactions. Fees for promotional rate transactions can be found in the details we provide you with.
    > Cash Advance transaction fee: 5.00%

    That can certainly appear sooner but I wouldn’t wait myself.

    • This reply was modified 52 years, 7 months ago by .
    CarpalTravel

    Ah, you didn’t say min fee.
    I’m catching up, slowly…

    Mankhool

    My payment for VAT has been shown as purchase with no cash fee. Statement generated on 14th ,So cannot further.

    Mankhool

    My payment for VAT has been shown as purchase with no cash fee. Statement generated on 14th ,So cannot comment further.

    NorthernLass

    Just for clarification, Virgin doesn’t charge (or shut you down) for using the Curve £200 pm atm facility?

    Rui N.

    They haven’t charged last month. I tried it on Monday again, but it’s too early to tell.
    Some stuff that wasn’t charged early last month (e.g. paying NewDay) is now being charged, so they could still start to charge ATM withdrawls.

    Yorkie Aid

    Datapoint to help anyone else accidentally falling foul of the new rules. If you make a “personal” payment on PayPal using the Virgin card you will get stung with the 5% cash advance charge. I made a payment for a holiday home rental and because we had rented from the people before they asked if we wouldn’t mind doing them a personal payment so they didn’t get lumped with all the PayPal fees. Didn’t think it was a problem since we kind of “knew” them from before. Anyway, Virgin now classifies this as a cash advance. I rang them and after half an hour of explaining why I found this was unfair and pointing out that they had made no mention of any PayPal transactions getting caught like this they have agreed to refund the not insignificant fee so long as the merchant does a refund via PayPal and quotes the PayPal reference number. Not quite sure how that will work out but they have made a note on my account so hopefully this will get rectified eventually. I guess they looked at my account and decided this was clearly a one-off error on my part and not the kind of activity that the new rules are trying to stop.

    jc2304

    To just add a data point…

    Tested a £25 transaction, topping up the new BA prepaid card using the Virgin card via Curve. Was charged £1.25 as a cash advance fee – immediately went back in time and changed to my current account. Fee obviously wasn’t removed.

    Rang up this morning and asked best way to avoid interest (played the oblivious card!) – they have cancelled all interest as a gesture of goodwill but won’t budge on the £1.25 fee.

    I know, very small numbers but may help someone… 🙂

    Vit

    Obviously been really busy with “life” and the little one and not been having much time to keep eyes on the ball. Just got stung with £90 cash advance fees. As per response above, don’t think that I can get that removed. Will I be charged with interest as well?

    Rui N.

    Of course. Pay the card right away to stop interest accumulating.

    JDB

    Obviously been really busy with “life” and the little one and not been having much time to keep eyes on the ball. Just got stung with £90 cash advance fees. As per response above, don’t think that I can get that removed. Will I be charged with interest as well?

    As @Rui N says, you need to pay the card right away to stop the interest, but as you also pay interest on the interest and it accumulates daily, you need to pay a bit more to stop it completely as the balance won’t quite reflect it.

    The Urbanite

    Datapoint to help anyone else accidentally falling foul of the new rules. If you make a “personal” payment on PayPal using the Virgin card you will get stung with the 5% cash advance charge. I made a payment for a holiday home rental and because we had rented from the people before they asked if we wouldn’t mind doing them a personal payment so they didn’t get lumped with all the PayPal fees. Didn’t think it was a problem since we kind of “knew” them from before. Anyway, Virgin now classifies this as a cash advance. I rang them and after half an hour of explaining why I found this was unfair and pointing out that they had made no mention of any PayPal transactions getting caught like this they have agreed to refund the not insignificant fee so long as the merchant does a refund via PayPal and quotes the PayPal reference number. Not quite sure how that will work out but they have made a note on my account so hopefully this will get rectified eventually. I guess they looked at my account and decided this was clearly a one-off error on my part and not the kind of activity that the new rules are trying to stop.

    That’s MCC 8999, so anyone withdrawing cash via Curve needs to be wary of cash advance fees being a very real possibility.

    The Urbanite

    To just add a data point…

    Tested a £25 transaction, topping up the new BA prepaid card using the Virgin card via Curve. Was charged £1.25 as a cash advance fee – immediately went back in time and changed to my current account. Fee obviously wasn’t removed.

    Rang up this morning and asked best way to avoid interest (played the oblivious card!) – they have cancelled all interest as a gesture of goodwill but won’t budge on the £1.25 fee.

    I know, very small numbers but may help someone… 🙂

    Virgin Money have always charged that fee with MCC 4829 merchants – steering well clear will avoid incurring the fees and interest.

    woble 975

    Just for clarification, Virgin doesn’t charge (or shut you down) for using the Curve £200 pm atm facility?

    I’m afraid the £200 pm atm cash withdrawal supposedly communicated as a purchase MCC by Curve to the underlying card issuer now attracts a 5% charge by VS. I tried it on Friday and charge appeared today.

    Harrier25

    Just for clarification, Virgin doesn’t charge (or shut you down) for using the Curve £200 pm atm facility?

    I’m afraid the £200 pm atm cash withdrawal supposedly communicated as a purchase MCC by Curve to the underlying card issuer now attracts a 5% charge by VS. I tried it on Friday and charge appeared today.

    Maybe for you but not for us.

    Harrier25

    …well I didn’t get charged for the cash withdrawal I made on the 31st July using VA, but I suppose that may have changed in the week since?

    stefs

    Another case of incurred Virgin Atlantic advance cash fee..

    I am usually depositing to an investment account via Paypal and repay in full every month. Today I just logged in to check my balance since direct debit payment was approaching and to my surprise I was over limit. There were a number of cash advance fees added on top (8k balance, £400 in fees so 5%) (ouch). I didn’t receive a letter/email about this. I called VA but even though I argued previous months didn’t incur a cash fee and that it’s showing as a purchase via Paypal, no avail. Raised a complaint since I received no communication about it and with the reasoning that assuming it wasn’t implemented all this time it should be communicated in writing once again and given an appropriate time window (at least 6-12 months).

    They said they will come back to me in the next few days but I suspect it needs to go all the way to the Ombudsman. I haven’t heard of any other credit companies to say we introduce charges from X (August 2021) but not implement them for a year and expect suddenly for everyone to accept this now with no further notice. Even if I knew about the change after all this time I would assume a few months later that it was scrapped.

    Anyhow, I believe since it affects A LOT of people, there will be a high percentage of complains reaching upper management. In the end if there is a risk for an FCA fine for not implementing announced charges and not giving a new notice period for re-introduction they might re-consider refunding the charges and accrued interest but it will take some time. It might be worth reaching Rob or even maybe Richard Branson via social media about this.

    stefs

    Another case of incurred Virgin Atlantic advance cash fee..

    I am usually depositing to an investment account via Paypal and repay in full every month. Today I just logged in to check my balance since direct debit payment was approaching and to my surprise I was over limit. There were a number of cash advance fees added on top (8k balance, £400 in fees so 5%) (ouch). I didn’t receive a letter/email about this. I called VA but even though I argued previous months didn’t incur a cash fee and that it’s showing as a purchase via Paypal, no avail. Raised a complaint since I received no communication about it and with the reasoning that assuming it wasn’t implemented all this time it should be communicated in writing once again and given an appropriate time window (at least 6-12 months).

    They said they will come back to me in the next few days but I suspect it needs to go all the way to the Ombudsman. I haven’t heard of any other credit companies to say we introduce charges from X (August 2021) but not implement them for a year and expect suddenly for everyone to accept this now with no further notice. Even if I knew about the change after all this time I would assume a few months later that it was scrapped.

    Anyhow, I believe since it affects A LOT of people, there will be a high percentage of complains reaching upper management. In the end if there is a risk for an FCA fine for not implementing announced charges and not giving a new notice period for re-introduction they might re-consider refunding the charges and accrued interest but it will take some time. It might be worth reaching Rob or even maybe Richard Branson via social media about this.

    JDB

    @stefs Virgin notified these changes last year and again in June. You will also find in the terms, I think para 21, that along with fairly much every other credit card agreement that any failure to enforce terms doesn’t prevent the firm from doing so in the future. You also suggest an “appropriate time window (at leat 6-12 months)” when the law provides for 60 days notice. Your assumption that the fees must have been scrapped won’t carry a lot of weight. For these and other rather obvious reasons, it is difficult to see what case (certainly not the arguments above) you could possibly put to the Ombudsman for reimbursement of fees applied.

    Rui N.

    I also like to see how you think you can argue that a credit card is not expected to charge for cash advance (which depositing in an investment account clearly is).
    The expectation of 6-12 months advance warning is also laughable (and I do think they’ll laugh if you write such a thing in your complaint), although in this case we actually got 12 months (2 months before changing the terms + 10 months they actually started charging), so not even there you have a point.

    Rui N.

    It is also not difficult to imagine Virgin’s defense: this is a credit card, so it is expected that there are cash advance fees, but to give more clarity to our customers we changed the terms so that there could be no doubts of what is covered and gave them 1 year before we actually started charging.

    Harrier25

    You do seem to be shining a spotlight on yourself here trying to defend the indefensible!

    Guernsey Globetrotter

    Totally agree – this is more likely to result in a full account audit and closure rather than you getting any refund.

    I’ve benefited to the tune of 350k+ points over the last couple of years doing the revolutionary shuffle and when I got hit with a £125 cash advance fee in July, on my regular £2.5k cycle, I just took it on the chin and moved on. Had a few good trips on VS metal out of those plus the 2-4-1 vouchers and more to come.

    The last thing you should be doing is drawing attention to unusual patterns of transactions if you want to hold onto your VS card – you would be wise to look for other opportunities instead!

    CarpalTravel

    I for one am really looking forward to reading the tweet to Richard.

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