How is Kent Reliance for basic saving?

newlease

- Is account opening straight forward?
- Is the website readily performing or often having issues or down for maintenance?
- Do payments in and out work smoothly?

I'm considering opening an easy access account with them. They lead the rates table and I like that interest can be paid monthly or annually on April 5, this is much much better than the typical annual payment on anniversary so many only offer.

I see some negative remarks about Kent Reliance but these appear to be on the mortgage side.

An alternative to Kent Reliance would be Shawbrook. If you have banked with both, which is better between these two?

redmalc

I have usedmShawbrook for a number of years and always found the facility very good,I am just in the process of leaving them for a better cash isa rate

racey

Used both Kent Reliance and Shawbrook for savings and never had any problems with either.

colsten

KRBS is fine if you don't want Faster Payments. Transactions take at least a working day. Note that KRBS have far from the best rate for Regular Savings accounts.

I have never used Shawbrook so can't comment about them - other than that there are several which offer better rates on instant access accounts.

Depending on how much you want to save, you might do a great deal better with an interest-paying current account than with a savings account. Rates as high as 5% AER are available, though 1.5% to 2% AER is more common now.

Westie983

Can you open this account online? The Kent regular saver can only be opened in Branch, and they are few and far between.

Westie983

racey

Westie983 wrote: »

Can you open this account online? The Kent regular saver can only be opened in Branch, and they are few and far between.

Westie983

Yes, it can be opened online.

trickydicky14

racey wrote: »

Yes, it can be opened online.

I don't think so
T&C clearly state 'branch-only account'
If I could do it online I would have some time ago

youngretired

The Easy Saver can be opened online or branch but whichever you chose is how the account must be used i.e. online then everything must be done online and if in branch then only by branch.

If you do a payment by 1.15pm then the payment will reach the nominated account by roughly 4-5pm, so doesn't show like normal faster payments. If the payment request is sent after 1.15pm then they will treat it as the next working day.

However KRBS online account does allow you to set up pending payments for the future, so you can set up as many as you like for the future if you know you need funds but won't have wifi or just for convenience.

racey

trickydicky14 wrote: »

I don't think so
T&C clearly state 'branch-only account'
If I could do it online I would have some time ago

Sorry. I opened an "Easysaver" online recently. I didn't realise that a regular saver couldn't be opened the same way.

newlease

I have applied based on the comments. This is for instant access savings not regular. At 1.27% they were leading the table until yesterday, Post Office has now matched and RCI pipped at 1.30% but I still prefer to try them over these two.

colsten

newlease wrote: »

I have applied based on the comments. This is for instant access savings not regular. At 1.27% they were leading the table until yesterday, Post Office has now matched and RCI pipped at 1.30% but I still prefer to try them over these two.

I'd never put any money into the PO or into RCI, if for slightly different reasons:

• the PO has got abysmal customer service, and many people have reported (on this forum) big problems when they wanted to get money out
• RCI is not FSCS protected.

No such problems with KRBS. They don't do Faster Payments but you can reliably get your money out within one working day. If they did run into trouble, you'd have FSCS protection up to £85K.