MSE News: New sharia account offers 1.6% easy-access savings - but should you get it?

caveman38

I wouldn't put a penny in their accounts.
I had no response to 2 emails or a call back which I requested twice too.

colsten wrote: »

I had reason to call them twice in the last 3 weeks. First time, my call was answered after a short while. Second time (last week), it took over 30 minutes before a human answered the phone. Both times I ended up speaking to a competent person who could solve my query satisfactorily.

May be someone one here could answer your question?

Thanks I have sent another email. My concern is if my wife opens some FR accounts, whether they'd require third party mandate or they'd speak to me after satisfying security questions. Most institutions are OK with it. Before she deposits a large amount with them I'd like a response from the bank.
To be honest I'd stick the lot with BLME who have responded in rapid fast time with a English CS rep. The problem with them is their accounts cannot be accessed on line.
Our hang up I know. But just the way I prefer.

colsten

You would indeed have to ask them directly as nobody here could give any binding answer.

Their T&Cs don't appear to make provision for third party mandates but require a POA.

2.6 If you wish another person to operate your account, we will accept a legally registered power of attorney, although you should take advice from a solicitor or other legal adviser before granting a power of attorney to anybody. On joint accounts all of you must sign if you wish to allow another person to operate your account.

masonic

Well I've had about enough of these guys. I'm an existing customer with a fixed term account, so applying for an additional account ought to be simple, right?

Well, first port of call was to try and apply online, but I was never set up with online banking, presumably as it is not automatically set up for fixed term accounts, so I dutifully filled out the paper application form and posted it to them.

After 2 weeks of radio silence I decided to fill out a paper application form, which I posted off just a couple of days before they pulled issue 1. A few days later I get a missed call and message for me to call them back, which I make several attempts to do, and finally get through this evening after a 35 minute wait. After waiting another 10 minutes for the CS rep to figure out why I was contacted in the first place, she came back to tell me "it was to do with payments" and to call back Mon-Fri between 9-5:30 (which of course means before 5 pm allowing for hold time) as nobody working the late shift or at weekends could help me.

No thanks. I've already clocked up 2+ hours of crooning, it simply isn't worth the difference in rate to subject myself to another 30+ minutes on hold during the precious time I get to myself while at work.

mrchagle

Hi all,

I opened a 1.6% Easy Access account last month. All paperwork came though including online details.

Successfully signup for online banking and works a treat. I then decided to open (via online banking) a "Fixed Term" savings account. Everything was successful. I was hoping to fund it by simply transferring money from my Easy Account -- However the new "Fixed Term" savings account isn't listed in my online banking.

-- I did login via internet banking, and went to "open another product" (I think the wording it), then went through and it knew all my details. however it's been 2 days and not appearing online. Does it have to be funding before it's accessible online?

Thanks a lot.

G.

quirkydeptless

mrchagle wrote: »

-- I did login via internet banking, and went to "open another product" (I think the wording it), then went through and it knew all my details. however it's been 2 days and not appearing online. Does it have to be funding before it's accessible online?

Thanks a lot.

G.

In the online banking, have a look under "Deposit Information"

That's where I can see my fixed term account.

I funded it on the same day I opened it.

mrchagle

quirkydeptless wrote: »

In the online banking, have a look under "Deposit Information"


That's where I can see my fixed term account.

Thanks, I'll check it out. I expected it to be under accounts. I'll have a look.

soulsaver

mrchagle wrote: »

Thanks, I'll check it out. I expected it to be under accounts. I'll have a look.

Note it sometimes is slow to load.

BRYNEL

I'm with them,but recently reported a scam to them.they just didn't want to know!

Vortigern

BRYNEL wrote: »

I'm with them,but recently reported a scam to them.they just didn't want to know!

What sort of scam? Is it something we all need to be aware of?

dcc251

I foolishly opened one of these accounts and deposited a decent amount of money into it.
Since then their website has failed to let me log in and I have spent over 5 hours on hold trying to speak to an advisor, never getting a reply. Even as I write this, I have been on hold again for 22 minutes. Their automated telephone systems do not work and neither does their website. I simply have not been able to contact anyone, in any way, for over 5 days now.