Ruffler Bank savings

Jonbvn

Further to my previous post on this thread I am happy to confirm that me & OH have now opened our ISA's with Ruffler.

They have kept going through the credit crunch without any fuss or problem. They obviously have little exposure to various complex credit instruments.

isofa

Just to add, I have an ISA with them, transferred earlier this year, which was the most painless process ever. Incredibly professional and personal service, just how banking should be. Easily the best customer service I've experienced.

Steve_xx

Your cash, up to 50k is protected under the Finacial Services Compensation Scheme. As such, it is no more or no less safer with Ruffler than it is with any other UK bank.

fizzypop

My family have used Ruffler for years with no problems whatsoever.
They are a bank owned by the Ruffler family.
They do not have a credit default swap (CDS) rating since they do not invest in such
financial instruments.
We have found them reliable, responsive via email, with outstanding customer service
on the few times we have needed it. Highly recommended and everything a bank
should be. They put the high street banks beyond the pale. One of Martin's recommendations on the ISA front a couple of years ago.

Paul_Herring

fizzypop wrote: »

They do not have a credit default swap (CDS) rating

I rather think that they should, since the people who are soon to receive their savings from IceSave are likely to want to put it somewhere.

Since Ruffler don't have any rating, I really don't think much will go there. Or it might!

Then again, Ruffler don't advertise.

Should the Daily Mail pck on Ruffler as the next silent institution to go under that the FSCS need to fund? What *actually* is their funding? How can they give such huge interest rates?

I know, lets bring down Ruffler. Just to sell the Sun and the Mail.


That'll show them.


(An iceland saver.)

CGG

fizzypop wrote: »

My family have used Ruffler for years with no problems whatsoever.
They are a bank owned by the Ruffler family.
They do not have a credit default swap (CDS) rating since they do not invest in such
financial instruments.
We have found them reliable, responsive via email, with outstanding customer service
on the few times we have needed it. Highly recommended and everything a bank
should be. They put the high street banks beyond the pale. One of Martin's recommendations on the ISA front a couple of years ago.

*** fizzypop, I've pm-ed you. ***

agsnu

Paul_Herring wrote: »

I rather think that they should, since the people who are soon to receive their savings from IceSave are likely to want to put it somewhere.

I don't think you understand credit default swaps. CDS ratings are set by the market (much like share prices etc). Since Ruffler are so small, I don't think anyone is going to be buying or selling derivatives of their credit worthiness, so there is no market to set CDS rates.

tahanifabian01

Hi Dagobert,

What is the expansion of BACS? >..

Please tell me the description about BACS......

:T:A

isofa

tahanifabian01 wrote: »

Hi Dagobert,

What is the expansion of BACS? >..

Please tell me the description about BACS......

:T:A

Banks (or Bankers) Automated Clearing Services.


It's an electronic movement of funds from one account to another, usually taking 3 days to clear.

http://www.bacs.co.uk

GlasWolf

Anyone else tried to open a Ruffler bond over the last few days and noticed their rates have tanked? I'll need to call them on Monday to find out if they're honouring the rate as it was when I sent my application. Surely they can't lock the money in at a different rate to that which I applied?