Charter Savings Bank

puttee · 16 November 2017 at 8:44PM

New here but have searched the forums with no very recent info.

Was wondering if anyone has good/bad experience with banking with this bank and the online experience too. I've not had any problems but only have a small amount with them that has just sat there fore a while. I have a chunk of money I'm thinking of putting into a notice account I have with them which currently only has a small amount.

TIA

SallySunshine · 17 November 2017 at 10:21AM

Have been with them for years, mainly notice accounts, plus fixed rate.
Never any problems, and just opened an Isa with them,
They do not have any notice accounts at the minute as their instant access is now up there with the other market leaders

puttee · 17 November 2017 at 11:34AM

Hi Sally, thanks for your response. Good to hear of your experience, there is little feedback to be found around the internet, though they seem to be award winners and I have always found them easy and straighforward.
I have an old notice account I set up a while back which has 1.49% with a 95 day notice. I'm assuming I can add to that and get those (current) terms applied to any added amount - I will relook at T&C beforehand.
I did notice the easy access is 1.32% which seems attractive and will make me think again where to put my sum. Over a year it would be a bit less than £100 less interest, so not an awful lot.

SallySunshine · 17 November 2017 at 11:53AM

I think you'll find you won't be able to add to a previous/closed notice account, I have given notice on a 120 day account which will then be used to fund an ISA with them, opened the Isa in 2 mins with them and have 30 days to fund it, by which time the notice account funds will be in my nominated bank ready to send to them.

I really can't fault them for ease of use and efficiency.

puttee · 17 November 2017 at 1:18PM

I did double check and I'm informed a CSB notice account is open indefiniately and you can use it to add to at any time (rate is variable of course). You made me think twice there as I was fairly certain I could add monies to my currrent notice account. Good to clarify though.

I will be thinking about the 1.32% in their easy access to weigh up between the two, and have another look around for other options that might give a better rate before finally deciding.

Edited: Not the best worded from me. Notice account is open and operational, unless you actively close it yourself.

SallySunshine · 17 November 2017 at 9:10PM

Apologies if I was wrong about that, when their rate dropped dramatically I had a few notice accounts with them and was informed at the time I could move money around accounts without the notice.
Therefore I added some money into the 90/95day account at 1.50% from another of theirs and opened a 1 yr fixed rate account
However the 1.15% on the 120day notice wasn't good news, hence moving it out and using it for this years ISA allowance with them

cumbriared · 26 January 2018 at 12:57PM

Can only pass comment on my treatment by Charter Savings Bank but when it takes 4 weeks to receive confirmation of my account being opened after numerous phone calls to ask what the delay was and not being told of the problem until well into the 3rd week despite them knowing the problem as soon as my application was submitted. Surely in this day of mass communication they could have e mailed me or even telephoned me to let me know of the minor problem, but no, I had to contact them three times before I was made aware of any problem.

Total shambles of a Customer Services team and then to crown things off when I finally was informed that my account was opened the following day I received a letter informing me that I had exceeded the 14 day investment rule and that my application was therefore cancelled.

What a complete joke this lot are.

Compare them with Ford Money who took only 24 hours to open my account and informed me all along the opening process by text messaging of the progress. Brilliant customer service at its best.

Needless to say we've opened our savings account with Ford Money and put the entire experience with Charter as laughable but also very annoying.

AirlieBird · 26 January 2018 at 1:38PM

cumbriared wrote: »

What a complete joke this lot are.

Compare them with Ford Money who took only 24 hours to open my account and informed me all along the opening process by text messaging of the progress. Brilliant customer service at its best.

Needless to say we've opened our savings account with Ford Money and put the entire experience with Charter as laughable but also very annoying.

You are aware that they are both outsourced to the same company?

Charter Savings Bank

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