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Vanquis Bank Savings

I deposited some money into this bank on 15th April, 2020. They then sent all the paperwork to log in. A log in problem occurred so I couldn'y authenticate the account. As a result I have asked for my money back. I have called this company about 12 times, sent them numerous emails and emailed two complaints. Still haven't had any form of response apart from a computer generated holding mail. Very poor service from this bank. I have also noticed on other forums that a number of this banks customers are also having a similar problem. Come on Vanquis, get your act together. It is called, COMMUNICATION. Anyone else have similar issues?  
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Comments

  • Zanderman
    Zanderman Posts: 4,812 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    edited 27 April 2020 at 1:26PM
    Do Vanquis bank have an easy access saver?
    I thought all their accounts were fixed term, so you can't get your money back until the end of the term.  You'll have signed up to those terms when you opened the account.
    Why not just ask them (nicely) to re-set your login?
  • Albermarle
    Albermarle Posts: 25,936 Forumite
    10,000 Posts Sixth Anniversary Name Dropper
    I thought all their accounts were fixed term, so you can't get your money back until the end of the term.  You'll have signed up to those terms when you opened the account.

    Correct but there still should be a 14 day cooling off period, where you can decide to cancel the application.

    Their trustpilot reviews are not very good but the complaints are mainly from disgruntled borrowers. As Vanquis lend to people with poor credit histories then maybe not so surprising there are issues.

  • Yes, I set up two accounts, and the second was set up , following receiving paperwork. The first for a larger amount is showing no money at all! even though First Direct undertook a Faster Payments Check to confirm the deposit had gone through. I received no confirmatory letter for this account from VB. For some reason today (28/04/'20) I can't get into the site using the UID I was given and my password/ memorable details. I was on the phone for 50 minutes yesterday, and tried for 40 this morning despite calling at 9.02 am. I'm not convinced the lines are being staffed to be honest. So the only clear news I've got has been from First Direct! I haven't been able to get through to VB by phone, or get a response via e-mail. SMS, or secure message on their site. I guess an issue is that they are not coping with the spike in demand from thousands like me who want a return on their savings before rates go down even further with less staff dues to COVID-19. I've some sympathy with that, but I've still got a payment that has got lost in their system, which doesn't fill me full of confidence!
  • Srone
    Srone Posts: 1 Newbie
    First Post
    I transferred money into a new Fixed Bond account at Vanquis Bank last week week but so far this has not shown in my account. Have tried since Monday to contact bank but no telephones are answered no matter what time of day or for holding on for over an hour. No replies to emails. Terrible service.Regret that I saw Vanquis on MSE as a good rate for bonds and went with them. Still trying to get through to them as another hour disappears.
  • polymaff
    polymaff Posts: 3,936 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 30 April 2020 at 1:45PM
    Jug65ice said:
    Anyone else have similar issues?  
    Very much so.  I have accounts renewing. They've sent the postal reminders and have acknowledged the maturity option selected on-line - but will they answer the 'phone or reply to emails?  NO!
    Incidentally, they don't offer a "roll the funds into this type of account" option. Oh, no.  You have to,  separately, tell them what you want done with the current balance - which is your job to find out and type in - and then, further down the application, tell them what to do with any other interest earned.
    Jerks!
    EDIT: Agree about Aldermore and RCI. Dealt with each for the first time in the last month. All very easy - particularly the two-week window during which deposits can be made. Unless I've missed it, nothing like that with Vanquis.
  • liver-bird
    liver-bird Posts: 50 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Srone said:
    I.Regret that I saw Vanquis on MSE as a good rate for bonds and went with them. Still trying to get through to them as another hour disappears.
    Me too. Given I can#t access my account online, or even find where to put the authentication code I might just give up. I sent £20 as a tester to see if it'd go through ok but as it's below the minimum deposit )which I forgot, based on another thread that is likely to come back to me. Wonder if there is another decent account around still....

    PS Thanks for posting all. I feel less alone now (relatively speaking given the situation!)  :D
  • Ken68
    Ken68 Posts: 6,825 Forumite
    Part of the Furniture 1,000 Posts Energy Saving Champion Home Insurance Hacker!
    My money was in the ether for a while until I verified the nominated account. The code for this came in the post. Then, for a few days, I was able to add funds to the original deposit.
  • wmb194
    wmb194 Posts: 4,276 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    I don't know how well it will work in the current situation but when I opened my bond account with it years ago I opted to send a cheque. It worked very well, the key advantage being I could see that Vanquis had deposited the cheque when the money had been transferred from my funding account and it was probably all okay as opposed to having to wait for online access or any other communication from Vanquis and worrying in the meantime. 
  • Upwind
    Upwind Posts: 185 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    I also opened a new 3 year bond with Vanquis Bank Savings and am having similar problems contacting anyone at the company.  I sent off my identification documents and waited 3 days before funding my new account - with a sizeable amount.  I have had nothing back whatsoever and am a bit worried now.  I have emailed and tried to call several times but nobody ever answers...!!!  I tried to call Vanquis Bank on the number of their website 0330 0993000; however they informed me that the savings arm had little to do with the bank, and suggested that i continue to call the 0191 5050033 number for enquiries. 

    I am now more that a bit worried and slightly miffed that it was an MSE top account recommendation.  I assumed that MSE would have done some due diligence on companies before recommending them.    
  • SFindlay
    SFindlay Posts: 393 Forumite
    Fourth Anniversary 100 Posts Name Dropper
    Upwind said:
    I also opened a new 3 year bond with Vanquis Bank Savings and am having similar problems contacting anyone at the company.  I sent off my identification documents and waited 3 days before funding my new account - with a sizeable amount.  I have had nothing back whatsoever and am a bit worried now.  I have emailed and tried to call several times but nobody ever answers...!!!  I tried to call Vanquis Bank on the number of their website 0330 0993000; however they informed me that the savings arm had little to do with the bank, and suggested that i continue to call the 0191 5050033 number for enquiries. 

    I am now more that a bit worried and slightly miffed that it was an MSE top account recommendation.  I assumed that MSE would have done some due diligence on companies before recommending them.    
    As you say it's a RECOMMENDATION ie 
    noun
    1. a suggestion or proposal as to the best course of action, especially one put forward by an authoritative body
    That does not mean you blindly have to follow it, how about doing some of your own research, reading product terms and conditions rather than just hitting the agree button then YOU make an informed decision about what YOU do with YOUR money rather than blaming someone else!! They are recommending the product not the service.
    And considering what's going on in the world and the fact they are short staffed and a quick look on here shows there are DELAYS setting accounts up (different from anything sinister by the company) what's the real problem?? 
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