Problems with Aldermore

chas100

I thought people might like to know about the problems I have just encountered attempting to open an account with Aldermore Bank (formerly Ruffler). I rang them eight days ago & went through the application procedure over the phone; no problems, I was told that the Direct Debit Instruction & Welcome Pack would be with me within five working days. Four days later I received the DDI, but no pack, so I rang them again & was told that there had been problems sending out the packs. Four days later (today) there was still no pack so I rang them again & was told that, although I had gone through the application by phone & had given them my passport number this wasn't sufficient proof of Id & I would have to take a copy of the passport & get it signed by a solicitor/doctor & send it off to them before they could open the a/c. This represents 8 wasted days (at low interest rates), so I told them not to bother & went to the Barnsley BS instead.

OneADay

Slightly different experince for me (thus far).
I decided to transfer ISA to them - the process has not started yet as I indicated I wanted transfer from A&L to Aldermore on 20th of this month (no doubt there will be delay).

I first went online on 7th August 2009, filled in the form, asked me for passport number - did all that. Got email confirmation. I had no forms to fill in to send to them. Guess they check the passport directly with the number to verify my details.

And I received a letter of confirmation of account having been set up a few days later, and I was able to login online.

Just waiting for the transfer to happen now.

OneADay

Tell a lie - I did have to print the transfer form, fill in, sign / date and send freepost.

Hungerdunger

chas100 wrote: »

I thought people might like to know about the problems I have just encountered attempting to open an account with Aldermore Bank (formerly Ruffler).

From my limited experience this tends to happen when Banks offer market-leading rates without the resources to handle the large number of applications they are bound to get. In previous years Barclays and Nationwide have got badly caught out with their ISAs.

If it's any consolation, I opened a bond with the Barnsley on 30th July. I had to send in identity verification documents, (which I did back on 30th) and it is only today August 14th) that I have had the go-ahead to pay funds into the account. It will probably be the 18th or 19th before I actually start earning interest.

Gwen_Cooper

My experience with Aldermore is much the same as OneADay. I was also transferring funds from another ISA provider. I phoned Aldermore to ask a few questions and the staff knew their stuff and were very helpful. Within a couple of days of posting my application I received an e-mail confirmation and the whole process completed a few days later - no complaints from me!
It's good to see a small bank competing against the big institutions - good luck to them!

withnell

Chas100 - when you wrote your original post, only 6 working days had passed since you applied. There's not many banks that have everything sent out to you that quickly!

Mortgage_&_debt_free

Opened a 2yr fix with them online a week or so ago, including submitting passport & driving licence ID online, no problems. A few days later the DD was actioned and money was in the account at the rate agreed (4.43%).

Can't fault them so far (fingers crossed!)

mr_fishbulb

Transfered my ISA to them. Very swift with their postal replies.

My girlfriend gets replies withing 2 days when paying in additional funds to her ISA.

Can't fault them so far.

Jonbvn

mr_fishbulb wrote: »

Transfered my ISA to them. Very swift with their postal replies.

My girlfriend gets replies withing 2 days when paying in additional funds to her ISA.

Can't fault them so far.

Why would you transfer to them, when their rate is only 2.65%???
http://www.aldermore.co.uk/savings/cash-isa.aspx

We have held our cash ISA's with Ruffler for a few years. We will be transferring them out ASAP, given that their rate is now rubbish!

mr_fishbulb

Jonbvn wrote: »

Why would you transfer to them, when their rate is only 2.65%???
http://www.aldermore.co.uk/savings/cash-isa.aspx

We have held our cash ISA's with Ruffler for a few years. We will be transferring them out ASAP, given that their rate is now rubbish!

How do I know if I have issue 1 or 2?

We opened and transferred from old ISA when it was at 3.15%

Issue 1 is still that - http://www.aldermore.co.uk/savings/historic-rates.aspx

Jonbvn

Thank you my fishy friend! I did not realise there were different issues.

I believe we will have the previous issue (No.1). I will check by email or phone them to be sure.