First Save - any views?

nearlyretired2004

Blast !

Having waited all weekend with Shawbrooks website down, to open their 18 month fix, I now discover it doesn't pay monthly interest - so looks like I will be fixing for two years after all!!

Does anyone have anything good or bad to say about FirstSave?

MGCP

I've had a 90 day access account with them that pays monthly interest for a couple of years now (initially at a pretty good rate although it dropped soon after I opened it so I'm sure there are better around now). I manage it all online, everything has worked smoothly so far so I've got no complaints about them, but then again they haven't had to do anything very taxing for me!

ChiefGrasscutter

First Save have their customer front end run by a subsidiary of the Newscastle Building Society set up specifically to do this function on behalf of others.

I've found them very efficient.
I have a fixed rate bond due to mature shortly. Whether I re-invest or put elsewhere will depend on the interest rate only.
They have already sent me full details of what I need to do when the account matures well ahead of schedule

Ifts

My experience of using First Save has been all good.

I have had a couple of fixed rate bonds with them (none currently as they didn't have any new offerings when my last fixed term bond matured with them) , and like ChiefGrasscutter says in their post they write to you well in advance with maturity options, they don't put no hurdles in the way when you want to withdraw the money, they send it via electronic payment to your linked account.

nearlyretired2004

Always reassuring to get peoples views on here ......

Looks like I'll go with them then.....

Thanks again!

psychic_teabag

nearlyretired2004 wrote: »

Blast !

Having waited all weekend with Shawbrooks website down, to open their 18 month fix, I now discover it doesn't pay monthly interest - so looks like I will be fixing for two years after all!!

Does it matter if they don't pay monthly interest ? Even they did, credited into the account, you wouldn't be able to access it anyway. Or is it just so you can check that they are paying the expected amount ?

At the end of http://www.moneysavingexpert.com/savings/fixed-rate-savings Martin points out that you can still simulate monthly interest by holding back some of money from the fixed account and using that to supply the income.

badger09

Ifts wrote: »

My experience of using First Save has been all good.

I have had a couple of fixed rate bonds with them (none currently as they didn't have any new offerings when my last fixed term bond matured with them) , and like ChiefGrasscutter says in their post they write to you well in advance with maturity options, they don't put no hurdles in the way when you want to withdraw the money, they send it via electronic payment to your linked account.

Likewise; except I do currently have a 1 year fixed rate bond with them

Think_Fast_Mum

Just found the one year fixed bond on a google search. I'd not heard of First Save so it's good to hear some positive feed back. Thanks, time to plan for the future . . .

nearlyretired2004

So far my experience has been good - on opening the second bond - so I now have a 2yr fix and a 1 yr fix - it wasn't clear to me when the money would actually be debited from my account (when you open your first account it gives you a date, but once the direct debit has been set up, for subsequent accounts it just comes out ASAP)

So I phoned, but as I'd only just opened the account their systems hadn't updated yet .... the customer services guy suggested he take my number and phone me when they had. He phoned me two hours later with the info .... impressed!

I'm the first to complain when banks scr$w up but I'm also keen to recognise good service!

nzseries1

Thought I'd just add my positive review, haven't had a bond with them for 3 years but they were good and efficient at the time.

MelanieC

Good to see so many people have positive things to say about FirstSave. As they were tipped last week as the best 2year Bond, I applied to save a lump sum with them. Only afterwards realised I'd never heard of them and wondered whether I'd made a BIG mistake. Especially as they are no longer showing as the best available on MSE this week.