Ruffler Bank savings

gt94sss2

Paul_Herring wrote:

You think so? Are they actually under any obligation to? If all of a sudden the UK arm of ICICI went !!!!-up, would ICICI 'international' have a legal obligation to bail them out (I'm deliberately ignoring any moral obligations they have.)

I doubt its a legal obligation but its the same situation as if ING Direct had problems here its Dutch parent would step in or if a HSBC (say) owned bank had issues overseas - its an unwritten rule that the parent companies will bail them out (especially if they carry their name!) as the damage to the 'parent bank' would be tremendous and their reputation would be effectively destroyed. (I'm ignoring what would happen if war etc caused exceptional circumstances)

Some even advertise this - when Comdirect was owned by Commerzbank their website used to basically state this - its not uncommon for such organisations to refer to the strength of their parents.

Anyway this is all a bit OT for this thread..

Regards
Sunil

panther

A search on Ruffler bank brought me to this thread. I note they're offering 1yr fixed bond @ 6.98% which seems very good compared to others who are now dropping their rates but I've never heard of this bank and some of the posts don't fill me with great confidence. As the last post in this thread is over a year old I wondered if there was any recent experience about this bank?

Sapphire

panther wrote: »

A search on Ruffler bank brought me to this thread. I note they're offering 1yr fixed bond @ 6.98% which seems very good compared to others who are now dropping their rates but I've never heard of this bank and some of the posts don't fill me with great confidence. As the last post in this thread is over a year old I wondered if there was any recent experience about this bank?

I did get as far as getting their literature - large, expensively produced brochure, which immediately made me suspicious (for some reason). I think they are too small and unknown for my liking, so will give them a miss. :cool:

Alfie_E

There’s an interesting article on This is Money, Is your cash safe with the new banks?, which mentions Ruffler Bank.

Sapphire wrote: »

I did get as far as getting their literature - large, expensively produced brochure, which immediately made me suspicious (for some reason). I think they are too small and unknown for my liking, so will give them a miss. :cool:

There’s nothing particularly large or glossy about Ruffler’s day-to-day running. The interest rate booklets they produce at each rate change, although professionally laid out, appear to be produced on an office colour laser printer. All envelopes appear to be filled by hand – the C5 envelopes are sealed on the short side and the contents are a tight fit. It’s small scale, and it’s actually kind of nice. I needed to ring up once. I gave my name, and from only that they knew who I was. When you buy something, you can buy from a small supplier, but to feel like an individual when dealing with a bank is a bit weird.

In my experience, Ruffler are at least as competent as one of the big UK banks, and you won’t get any buck passing. They simply don’t have enough staff to pass the buck between.

prenticesa

I transferred my Cash ISA to Ruffler about 5 months ago and their service was quick and efficient. Recently when arranging to deposit further funds I called them and spoke directly to the Deposit Manager (Kim Bryant). She was brilliant - the service was personal and efficient.

I have approx 34k deposited, and have recommended Ruffler to my brother who has approx 25k. 6.4% is just too good to refuse. Highly recommended.

Old_Slaphead

Their financial accounts look solid. Clearly they don't have massive overheads so can probably afford to pay a decent rate for lump sums. Given that min. deposits are £9000 or £15000 for ISA/FR deposits they don't have mulpiple transaction cost associated with small accounts. They're covered by FSCS. I've approx £12000 in their cash ISA - wouldn't put all my dosh with a smallish bank but I'm very happy with their product & service received has been excellent.

Sapphire

Alfie_E wrote: »

There’s an interesting article on This is Money, Is your cash safe with the new banks?, which mentions Ruffler Bank.

There’s nothing particularly large or glossy about Ruffler’s day-to-day running. The interest rate booklets they produce at each rate change, although professionally laid out, appear to be produced on an office colour laser printer. All envelopes appear to be filled by hand – the C5 envelopes are sealed on the short side and the contents are a tight fit. It’s small scale, and it’s actually kind of nice. I needed to ring up once. I gave my name, and from only that they knew who I was. When you buy something, you can buy from a small supplier, but to feel like an individual when dealing with a bank is a bit weird.

In my experience, Ruffler are at least as competent as one of the big UK banks, and you won’t get any buck passing. They simply don’t have enough staff to pass the buck between.

The material I received was a large, glossy brochure printed on thick, high-quality paper - not the sort of material building societies supply. If they are recommended by many people, might put some of my savings with them - but otherwise won't do it.

Jonbvn

Thanks for reviving this thread. I think I will be opening new ISA accounts with Ruffler for me and OH next April.

ebyard

Nothing wrong with Ruffler Bank whatsoever.

They started out financing amusement arcade owners to purchase new machines and also for travelling showmen to fund new rides etc. I work in the business and I can tell you, this company are extremely reputable.

Roy (Ruffler - yes, the CEO is known by his first name to everyone in our industry) is a great bloke and hence his reputation is legendary. He has been the first phone call of many people in our trade wanting to start a business or finance their existing business.

Their rates are very good too!

bellabonce

We have been banking with Ruffler for some years and live in Canada.
We have always found them very helpful and on the ball.
There rates are excellent too!!:rotfl: