Al Rayan Bank Warning

Fingerbobs

Thanks for this thread. So far I have only opened one fixed-term deposit account with Al Rayan, but I was considering opening another within the next few months. I'm now reconsidering.

I was also unimpressed that I was assured on the phone by them that, although the account was not transactable, I would be able to view it online using their online banking. When my login details finally arrived, I found that the account isn't visible at all - I just get "you have no internet enabled accounts".

ashteadgirl

Fingerbobs wrote: »

Thanks for this thread. So far I have only opened one fixed-term deposit account with Al Rayan, but I was considering opening another within the next few months. I'm now reconsidering.

I was also unimpressed that I was assured on the phone by them that, although the account was not transactable, I would be able to view it online using their online banking. When my login details finally arrived, I found that the account isn't visible at all - I just get "you have no internet enabled accounts".

The website is very clunky.
On the options menu under personal online banking click Deposit information, wait a while sometimes. The deposit information box will appear on the RHS and the account should listed there, if more than one account down click arrow and rest of accounts should appear. Very cluncky website and does not work first time always. Hope this helps.

soulsaver

Couple of further things to be aware of:

If you applied for a ftb and in the application said you were doing £20k, usefully they allow you to add to it until reaches that amount - so you might do 4 x £5k over, say, a week.

However the interim funds will be in an AR holding account and your ftb isn't visible on line.

Further IME it can take a few days until it appears after you've reached your indicated total, under Deposit Info as per Ashtead girl.

JohnRo

Maybe I've just been incredibly lucky..

No problems whatsoever logging in to or using their website, which as websites go is far from the worst I've ever seen. My online deposits and withdrawals have happened as expected without error.

The only issue I've had is call wait times.

jsinc

Seems unlucky. I transferred from Al Rayan cash ISA to iWEB. Took 8 days from transfer to invested in S&S ISA funds. Opened the everday saver and have deposited several times without issue.

caveman38

They're probably the No.1 with their rates but as far as I'm concerned the worst for customer service.
I have NEVER been able to contact them and after three attempts of over 20 minutes hold time I've aborted the calls. They're option "3" for callback doesn't work. I've also contacted them by email twice and only received one reply - after 8 days.

bristolleedsfan

soulsaver wrote: »

If you applied for a ftb and in the application said you were doing £20k, usefully they allow you to add to it until reaches that amount - so you might do 4 x £5k over, say, a week.

However the interim funds will be in an AR holding account and your ftb isn't visible on line.
.

I was informed that no Interest is paid whilst funds are in holding account, if that is the case I wouldnt call it useful.

I opened several Fixed term accounts tailoring each to value of funds I was transferring at each particular time, with different nominated accounts so that when funds mature wont be subject to daily faster payment limits when it comes to re-investing wherever that may be.

jpi

I returned to Al Rayan the signed paper form to apply for a fixed term deposit then I made an electronic transfer of the cash. A few days later I recieved an email from Al-Rayan reminding me that the clocks go back on 27th October, also including a link to information about insulating my house, eliminating drafts, bleeding my radiators, checking my roof is not leaking and a few other things, but I have heard nothing from them about my account! I thought they are a bank, not a home energy saving consultancy! Too soon to start worying yet, but I do hope not to have to wait too long to get confirmation that my account is opened.

bristolleedsfan

[QUOTE=jpi;76409996,_but_I_do_hope_not_to_have_to_wait_too_long_to_get_confirmation_that_my_account_is_opened.[/QUOTE]


I funded another fixed term account late Sunday evening out of HSBC regular saver proceeds, just logged in now to AL R..... looked under deposit information , all present and correct :T

Fixed Term Deposit
Term: 21/10/2019 - 21/10/2022

pearl123

Fingerbobs wrote: »

When my login details finally arrived, I found that the account isn't visible at all - I just get "you have no internet enabled accounts".

Yes, I've find this disconcerting. I've got a two year fixed bond and there not much I can do about it now. I would prefer to see the amount like traditional banks.