Bank of Baroda higher fixed term savings rate

atypical

LLANWRINRON wrote: »

Regarding FS Compensation Scheme. Martin's site, Moneysupermarket.com, and Bank of Baroda's own site all say they are covered by the UK scheme but I have checked the FSA listing and they are on the 'non EEA' list which means they are only covered by the scheme in their own country i.e INDIA. Am I correct or am I missing something ?

This was covered here:
https://forums.moneysavingexpert.com/discussion/2612167

[Deleted User]

Thanks atypical. I have read the link and I'm still not convinced. It seems that everybody says they are fully covered except the FSA who are the ones whose opinion really matters.

atypical

The FSA says they are authorised, thus they are in the FSCS scheme.

They can't be covered by the Indian scheme (which googling tells me is called DICGC and covers up to 100,000 rupees, the grand sum of ~£1,400) as not so surprisingly India is not in the EU so no passport agreement exists. If you're really concerned you can always call the FSA to confirm.

Mikeyorks

DaveG247 wrote: »

Is it possible to transfere £500 (think this is the minimum) just to make sure everthing is ok and then transfere the rest of my savings or will I have to put in the whole amount first off?

Only a single deposit allowed according to the review note on Moneysupermarket :-

Pay in as much as you can afford as you can only make one deposit at the time the account is opened.

life_nit

Thanks to the op for starting this thread and all the helpful comments

:j

DaveG247

Right need to ask a stupid question, I've setup my Baroda account and recieved the email with the account details, I have to now transfere the money by CHAPS or BACS.

Can I just do this from my online account with HSBC by using the pay family, friend or others option? Thanks

hcrobinson

I opened a Baroda MAX 2yr fixed rate bond acct via their website and sent money via bacs from first direct to it having received an email from them asking me to send funds.

10 days later the money has reappeared in my fd bank account. No phone calls or emails to Baroda are answered or replied to.

Not impressed

life_nit

DaveG247 wrote: »

Right need to ask a stupid question, I've setup my Baroda account and recieved the email with the account details, I have to now transfere the money by CHAPS or BACS.

Can I just do this from my online account with HSBC by using the pay family, friend or others option? Thanks

has to be a personal bank account, which you used to setup the account. why not send via cheque its free?

life_nit

hcrobinson wrote: »

I opened a Baroda MAX 2yr fixed rate bond acct via their website and sent money via bacs from first direct to it having received an email from them asking me to send funds.

10 days later the money has reappeared in my fd bank account. No phone calls or emails to Baroda are answered or replied to.

Not impressed

so what happened? was it their fault or a problem on your end?

DaveG247

Cheers for everyone's help got mine all set up and the money's gone in with out any problem, unlike lloyds tsb who set me up an account a couple of weeks ago...and have today sent be a letter saying my account request has been turned down becasue of my credit rating even though the monies in and they've sent me a card. sent by mistake apparently