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Ruffler Bank
Voyager2002
Posts: 16,349 Forumite
I wonder why this provider was not mentioned in the 'tips' article on cash ISAs this week. (Particularly since I found out about them from MSE). They currently pay 6.2 per cent, as much as Barclays but without the hassle. Importantly, the accept transfers from other providers: in fact, since their minimum is 9,000 pounds you can only open an ISA with them by transferring in funds from other providers.
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Comments
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I would be interested to hear feedback of current customers of Ruffler Bank, as I am considering transfering my ISA to them.
Can anyone add comments????
Cheers!!!0 -
I transferred my ISA to them last November. From application to actual funds being received was just under 14 days. Everything was done efficiently and quickly.
I even received an umbrella from them last December!
I would recommend them wholeheartedly.0 -
A big thumbs up from me too. I've been with them for a year or two and have been very pleased. Service is quick, efficient and personal (which is a massive change for a bank). I too received an umbrella as a Xmas gift.
Highly recommended.0 -
I agree with the comments posted, although I have seen posts describing some mistakes on their part. I have had an ISA with them for a couple of years, and am transferring my funds held by Barclays to them.0
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We've been with them for a couple of years.
Service has been very quick.
We've had a big umbrella and a pen as gifts.
What we find particularly useful is that the account to pay in is with Nat West which is our bank.
This means I can do an instant bank transfer rather than wait the usual 3-4 days.
This is particualrly useful when trying to transfer money after March pay day before the end of the tax year.
Obviously this advantage only works if you bank with Nat West.
We are very satisfied and they have so far not dropped the rate on us, so we haven't needed to switch away from them.
Previously we'd get a good deal for a year or two and then need to switch.
It's speculation on my part but being a small bank I think they will remain competitive so it's good if you don't want the hassle of constant switching.0 -
Just to clarify the RB ISA is currently paying 6.25% AER (6.11% gross paid quarterly).http://www.rufflerbank.co.uk/deposits/interest_rates.php
IMHO their customer service is excellent. I have recommended them to several friends without reservation.I would guess that since the ISA account requires 30-days notice to withdraw, MSE would not recommend it directly. However, since we, like most people retain their cash-ISA's long term, this is a non-issue.In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
Thank you all for the comments...
Quick Q...I've noticed that you cannot manage your account online. Is it phone only?
cheers0 -
No online access - no bacs transfers out....yet - but I endorse what others have said - decent account, very competitive interest rate, damn fine service and nice umbrella.0
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Thank you all for the comments...
Quick Q...I've noticed that you cannot manage your account online. Is it phone only?
cheers
No online access, just quarterly statements. IMHO online access for our cash ISA's is unnecessary since there are so few transactions. Just deposits every April plus interest added every 3 months. When we had online access to our ISA's at NS&I, I think I logged into the account twice in a year.
If you wish to use your ISA for short term savings only (say a few months) then this Ruffler Bank ISA is probably the wrong account, since you have to give 30 days notice of withdrawals & closure.In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
It is a "kind of" mid/long term really as we have been saving for a while and want to have a decent/large deposit for a house. I suspect that considering the current housing market situation, I will not be touching our ISAs in the next 12/18 mths.No online access, just quarterly statements. IMHO online access for our cash ISA's is unnecessary since there are so few transactions. Just deposits every April plus interest added every 3 months. When we had online access to our ISA's at NS&I, I think I logged into the account twice in a year.
If you wish to use your ISA for short term savings only (say a few months) then this Ruffler Bank ISA is probably the wrong account, since you have to give 30 days notice of withdrawals & closure.
I will be sending the forms this weekend to Ruffler. :T0
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