Access bank uk ltd

Gavin123456

I have opened an account with access bank uk ltd as it was listed on moneysavingexperts best 1 year accounts but i havent heard anything from them since transfering the money a week ago. Has anyone got a bank account with them?

Zanderman

Do you mean Axis Bank?

Gavin123456

No access bank uk ltd, it was listed on moneysavingexpert a week ago

Dazed_and_confused

It appears to be an offshoot of a Nigerian bank (seriously!).

eskbanker

Gavin123456 wrote: »

No access bank uk ltd, it was listed on moneysavingexpert a week ago

It was indeed, the main savings article had a link to https://www.sensiblesavings.co.uk/a-sensible-approach-to-saving/ when they were offering 1.95%, but as their one-year rate is currently 1.9% it's dropped off the best buy list.

They haven't been discussed much on here, although using a common word for a brand name rarely helps when searching....

Gavin123456

It was a lot of money that was transfered so just a bit nervous, was hoping someone else had banked with them previously

PeeTee99

Hi.  I opened one of their accounts last week, having gone via the money saving expert link (assumed legitimate due to this).  I have spoken with them and they have confirmed receipt of payments but am waiting for a welcome pack with confirmation.  So, similarly concerned after seeing the above.  Any news on this?

princeofpounds

If you read their email (assuming you are talking about 1yr fixed bonds), it says that you have ten days to fund the account, and that they will write to you to confirm receipt after those ten days have elapsed. So you would not expect to hear something at a week.

Here they are on the FCA register:

https://register.fca.org.uk/s/firm?id=001b000000Mg9TnAAJ

So assuming you have been dealing with the right institution, then you should be fine.

It is an offshoot of a Nigerian bank, but it is a fully regulated UK bank, based and managed from the UK. It's actually in very healthy financial shape compared to most of the big high street banks, presumably because they do a lot of profitable fee-based trade work. They have high capital adequacy, a low ratio of loans/deposits and assets/equity, and generate good operating profits. 

Ciprico

I had a one year bond that matured a couple of weeks ago (£10K). All went smoothly and the capital plus interest returned as expected. 
It was a different experience, not exactly "state of the art", no on-line account, was just sent a paper certificate confirming key details. (May be different now). Nothing wrong with that for a one year savings bond.
I'd give them 5/5 for doing exactly what they said they would, efficiently, all be it without bells and whistles....
The URL on the letter from them is www.theaccessbankukltd.co.uk