Kent Reliance BS - 1.5% EASY ACCESS

Berkshire_Beancounter

dont_use_vistaprint wrote: »

I agree its a minor benefit over Marcus being able to transfer in from any debit card. Can you transfer out to multiple accounts? Marcus only allows one.

How do the online systems compare in usability? Marcus is simple to use but featureless, and doesn't have an App so you cant easily add/withdraw on a phone, does Kent have an App ?

I'm not aware of any Kent Reliance app. And their FAQs say you can only have one nominated account.

TBH I find the Kent Reliance website functionality a bit behind some other providers. If you want to close an account (I've got a graveyard of closed easy access accounts as they keep upping the interest rate by small amounts), then you have to send them a secure message once logged into your account, and they action it within three working days (usually less in practice but it can take up to 2 days in my experience). You can transfer between accounts easily enough, but closing an account can apparently only be done by sending them a secure message.

If you want to change a nominated account again, it's done by secure message. They don't show accounts closed within the last two years, unlike say Virgin, or Chelsea (but then Charter Savings and Post Office don't show closed accounts online either).

All these are not major issues, but I find their website is just a bit behind some of the other financial institutions I bank with.

Biggus_Dickus

For anyone remotely interested... info:-

I opened an account on Saturday morning and made an initial’ ‘faster payment’ deposit (£1000) at 08.01am this morning from my linked account.

I received a confirmation email and an SMS text from KR (both timed at 2.01pm) to say that my initial deposit had been applied to my account,...which was reassuring as I can’t access the account ‘online’ until I receive my User I.D. by post,...which should be later this week.

adindas

dont_use_vistaprint wrote: »

I agree its a minor benefit over Marcus being able to transfer in from any debit card. Can you transfer out to multiple accounts? Marcus only allows one.

How do the online systems compare in usability? Marcus is simple to use but featureless, and doesn't have an App so you cant easily add/withdraw on a phone, does Kent have an App ?

I think the main point here is that the rate of 1.5% with Marcus is only for a year. This one with Kent Reliance is for Indefinite. It does not suggest that it is not going to change though.

zermattbusby

Thinking of moving from Santander 123 to this, take it this doesn't require any direct debits or standing orders like the 123 does? just a minimum of £1000.00 to earn the interest. Thanks

Terry_Towelling

Presumably one could cycle money in and out using a Tesco debit card and amass loads of Clubcard points?

d63

Terry_Towelling wrote: »

Presumably one could cycle money in and out using a Tesco debit card and amass loads of Clubcard points?

umm. will they really let you do that?

theres a whole bunch of exclusions on their website:

https://www.tescobank.com/current-accounts/rewards/

While you can collect Clubcard points on most of your debit card transactions, there are some exclusions, including: payments from your current account (like standing orders and Direct Debits), in-store cash deposits and refunds.

Other transactions where Clubcard points can’t be collected:

If you use your debit card to pay for bills at banks or other financial institutions.
When you use your card to get cash. This includes cashback, in-store cash withdrawals and withdrawing cash at an ATM.
If you use your card for gambling, purchasing travel money, wire transfers and purchasing foreign currency.

eskbanker

zermattbusby wrote: »

Thinking of moving from Santander 123 to this, take it this doesn't require any direct debits or standing orders like the 123 does? just a minimum of £1000.00 to earn the interest. Thanks

Santander 123 is a current account where, like some of its competitors, the DD stipulation is in place to encourage use by 'genuine' current account users as opposed to those just looking to earn the interest on a savings pot.

However, the Kent Reliance account is a standard savings account where not only are savers their target audience (so no need to make them jump through hoops), but they don't even support DDs or SOs anyway!

Terry_Towelling

d63 wrote: »

umm. will they really let you do that?

theres a whole bunch of exclusions on their website:

https://www.tescobank.com/current-accounts/rewards/

While you can collect Clubcard points on most of your debit card transactions, there are some exclusions, including: payments from your current account (like standing orders and Direct Debits), in-store cash deposits and refunds.

Other transactions where Clubcard points can’t be collected:

If you use your debit card to pay for bills at banks or other financial institutions.
When you use your card to get cash. This includes cashback, in-store cash withdrawals and withdrawing cash at an ATM.
If you use your card for gambling, purchasing travel money, wire transfers and purchasing foreign currency.

Well, I can only speak from experience with paying cash into a S&S ISA using my Tesco Debit Card. I was not expecting clubcard points but I got an absolute stash.

Can you also please pinpoint where in the exclusions you have so gleefully used to pour cold water on my suggestion does it say you can't get clubcard points when paying into a savings account?

d63

Terry_Towelling wrote: »

Well, I can only speak from experience with paying cash into a S&S ISA using my Tesco Debit Card. I was not expecting clubcard points but I got an absolute stash.

Can you also please pinpoint where in the exclusions you have so gleefully used to pour cold water on my suggestion does it say you can't get clubcard points when paying into a savings account?

gleeful? erm.woeful, more like. i was just looking for some clarification as to whether they would indeed award the points or not. the exclusions are not exactly crystal clear when they say:
If you use your debit card to pay for bills at banks or other financial institutions.

Wheres_My_Cashback

d63 wrote: »

umm. will they really let you do that?

theres a whole bunch of exclusions on their website:

https://www.tescobank.com/current-accounts/rewards/

While you can collect Clubcard points on most of your debit card transactions, there are some exclusions, including: payments from your current account (like standing orders and Direct Debits), in-store cash deposits and refunds.

Other transactions where Clubcard points can’t be collected:

If you use your debit card to pay for bills at banks or other financial institutions.
When you use your card to get cash. This includes cashback, in-store cash withdrawals and withdrawing cash at an ATM.
If you use your card for gambling, purchasing travel money, wire transfers and purchasing foreign currency.

It was, a while back reported by a poster here (maybe TT?) that points could be earnt from buying premium bonds.
It was tried by various posters on another forum. Not one of them earnt any points so draw your own conclusions.