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Northern Rock or Aldermore for savings

Looking at Easy Acess Nrock 2.75% or Aldermore 2.85%.

Is Northern Rock safe and ok to use ?

What about this new bank Aldermore any used it ? After ICESAVE I do not want another fiasco and this time i will be investing much more.

Thanks

Comments

  • Ifts
    Ifts Posts: 1,960 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Name Dropper
    st wrote: »
    Looking at Easy Acess Nrock 2.75% or Aldermore 2.85%.
    Is Northern Rock safe and ok to use ?

    IMO both Northern Rock and Aldermore are OK to use, just keep below the FSCS 85K limit.
    What about this new bank Aldermore any used it ? After ICESAVE I do not want another fiasco and this time i will be investing much more.

    Aldermore are very good. Had a couple of fixed term deposits with Aldermore over the years, never had no problems, straight forward to open account and maturing funds sent to linked account promptly, excellent customer service.

    Aldermore bank was previously known as Ruffler Bank:
    http://www.thisismoney.co.uk/money/saving/article-1679410/Ruffler-Bank-returns-as-Aldermore.html
    Never let the perfume of the premium overpower the odour of the risk
  • oldvicar
    oldvicar Posts: 1,088 Forumite
    Northern Rock is currently extremely safe according to 2 of the 3 ratings agencies. Because it is nationalised and 100% owned by the Treasury S&P and Fitch rate it AAA. On the other hand Moody's rate it BBB, which might reflect a standalone rating once sold off (just a guess). Their accounts operate easily, and now use Faster Payments.
  • moi
    moi Posts: 1,039 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Ifts wrote: »
    Aldermore are very good. ... never had problems, straight forward to open account ... excellent customer service

    I'd say the same. Their online system is also very good.
  • st
    st Posts: 3,461 Forumite
    Thanks may opt for Aldermore.
  • RedfordML
    RedfordML Posts: 908 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Northern rock very quick to open, easy to use website, I only opened mine 2 weeks ago and so far been perfect!
  • st
    st Posts: 3,461 Forumite
    Thanks after more thought and comments will opt for N Rock , having endured the ICESAVE fiasco I just feel safer with N Rock.
  • Another 'tick' for Aldermore - first rate service and good on-line. Have had several accounts with them and never a problem! Mind you no problem with NR either. If you stay below the FSCS limit then i'd go for the higher rate.

    Personally, whilst worrying for a short time i thought the procedure for dealing with Icesave was pretty impressive in the circumstances - the failure was a fiasco but not the FSCS claim process.
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