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Raphaels Bank

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Comments

  • D1zzy
    D1zzy Posts: 1,500 Forumite
    Sometimes I think we maybe all too keen to jump in for the latest "best offer" - I got as far as printing off the application form & was going to apply 'til I realised the net difference between this and my current "dump account" - Egg 3.25% is £4 per 1K. For me that's not enough to tie up funds even just for 12 months ;)

    Any thoughts?
  • Stompa
    Stompa Posts: 8,379 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    D1zzy wrote: »
    Sometimes I think we maybe all too keen to jump in for the latest "best offer" - I got as far as printing off the application form & was going to apply 'til I realised the net difference between this and my current "dump account" - Egg 3.25% is £4 per 1K. For me that's not enough to tie up funds even just for 12 months ;)
    Agreed, plus you'd have a few days loss of interest transferring between the two. I guess it might make sense if you had a pretty large amount.
    Stompa
  • You can (or at least could) arrange with Raphaels to open the account and then bacs the money across
  • D1zzy
    D1zzy Posts: 1,500 Forumite
    You can (or at least could) arrange with Raphaels to open the account and then bacs the money across
    Actually they're within driving distance for me -so could turn up with the proverbial carrier bag full of cash ;) - but IMHO still not worth the loss of flexibility for £4 per 1K ( 40K -£160)
  • Useful thread this....just been looking at their new bonds issues.

    Thanks!
  • GCH888 wrote: »
    Thanks.

    Spoke to FSA and they've confirmed the Bank is covered.

    Their One Year Fixed Rate Bond at 3.75% seems to be the market leading rate so I'm unsure as to why they're below the radar. Perhaps the bank is too small and therefore considered a risk?

    Where do you see 3.75%? The highest rate I can see is 3%.

    Mark
  • DeepSporran
    DeepSporran Posts: 265 Forumite
    Part of the Furniture 100 Posts
    Where do you see 3.75%? The highest rate I can see is 3%.

    Mark


    Check the date of the post - this is an old thread.
  • Check the date of the post - this is an old thread.

    Doh! I'm always falling for that!
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