Raphaels Bank

D1zzy

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

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.

Old_Slaphead

You can (or at least could) arrange with Raphaels to open the account and then bacs the money across

D1zzy

Old_Slaphead wrote: »

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)

Workshy

Useful thread this....just been looking at their new bonds issues.

Thanks!

MarkFromCornwall

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

MarkFromMullion wrote: »

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.

MarkFromCornwall

DeepSporran wrote: »

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

Doh! I'm always falling for that!