bank deposit asked before new account details

cisko65

Twong72 said:

cisko65 said:

wmb194 said:

You're right, they usually do. This looks like a Mikey Mouse operation and its website looks like something from 1999; if you click on 'learn more' IIRC it just says there's no access during the term.

Thanks. We agree, it is unusual to be asked for a deposit before the details of the account are provided, but they could send fake details. The look of the website is not always important as there could be a fake good one. Also found out that for this online bank account you can't register to access it online... However interest rate and deposit will not vary. I'll go ahead. Fingers crossed.

Hello I posted the same question as yourself but missed your post, how did it go in the end ?

You mention you do not get any online bank account access with this account ?

Very worrying you can not see your money or details surely.

Hi, 
They said (by email and over the phone) that once my deposit is placed they'll send out a Deposit Confirmation Certificate by email and by post. I transferred my deposit at the weekend and I am waiting for their confirmation.
They have less staff at the moment and I am not too worried if I don't get anything today. 

Regarding not getting any online bank account access, I agree, it is very unusual. In MSE they appear in the online account list; you open it online but then you access to it only by phone. 

I think they are not well organised nor user friendly.

eskbanker

cisko65 said:
They said (by email and over the phone) that once my deposit is placed they'll send out a Deposit Confirmation Certificate by email and by post.

They say that on their website too, as per the screenshot posted earlier.

cisko65 said:
Regarding not getting any online bank account access, I agree, it is very unusual. In MSE they appear in the online account list; you open it online but then you access to it only by phone.

What 'online account list'?  https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/ states correctly that it can be opened online, but I haven't seen it described as an online account as such?  What access would you envisage anyway, once initial funding has been confirmed, given that the money can't be touched until maturity?

Twong72

cisko65 said:

Twong72 said:

cisko65 said:

wmb194 said:

You're right, they usually do. This looks like a Mikey Mouse operation and its website looks like something from 1999; if you click on 'learn more' IIRC it just says there's no access during the term.

Thanks. We agree, it is unusual to be asked for a deposit before the details of the account are provided, but they could send fake details. The look of the website is not always important as there could be a fake good one. Also found out that for this online bank account you can't register to access it online... However interest rate and deposit will not vary. I'll go ahead. Fingers crossed.

Hello I posted the same question as yourself but missed your post, how did it go in the end ?

You mention you do not get any online bank account access with this account ?

Very worrying you can not see your money or details surely.

Hi, 
They said (by email and over the phone) that once my deposit is placed they'll send out a Deposit Confirmation Certificate by email and by post. I transferred my deposit at the weekend and I am waiting for their confirmation.
They have less staff at the moment and I am not too worried if I don't get anything today. 

Regarding not getting any online bank account access, I agree, it is very unusual. In MSE they appear in the online account list; you open it online but then you access to it only by phone. 

I think they are not well organised nor user friendly.

Hi thanks for getting back to me, I did call them, and they did confirm the initial deposit went through successfully and mentioned once all funds are cleared you get the cert.

So you can double check with them your first BT has gone through or not, call me old-fashioned but its nice when you get confirmation after sending your life savings over and it's not just been sent to virtual hell !

I guess am used to savings accounts but it's OK and safe and 1 year will go quick as we know.

cisko65

eskbanker said:

cisko65 said:
They said (by email and over the phone) that once my deposit is placed they'll send out a Deposit Confirmation Certificate by email and by post.

They say that on their website too, as per the screenshot posted earlier.

cisko65 said:
Regarding not getting any online bank account access, I agree, it is very unusual. In MSE they appear in the online account list; you open it online but then you access to it only by phone.

What 'online account list'?  https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/ states correctly that it can be opened online, but I haven't seen it described as an online account as such?  What access would you envisage anyway, once initial funding has been confirmed, given that the money can't be touched until maturity?

I did the transfer last Friday (not at the weekend as I mentioned earlier). I was expecting at list an automatic reply confirming they received it. Called them today, they still cannot access my account details. I'll use again the word 'disorganised'.

And you are right, ''once initial funding has been confirmed, given that the money can't be touched until maturity''. Still, I assumed that if you open an account online you can get to the details online too. Thanks for your comments. Wish me good luck.

Twong72

cisko65 said:

eskbanker said:

cisko65 said:
They said (by email and over the phone) that once my deposit is placed they'll send out a Deposit Confirmation Certificate by email and by post.

They say that on their website too, as per the screenshot posted earlier.

cisko65 said:
Regarding not getting any online bank account access, I agree, it is very unusual. In MSE they appear in the online account list; you open it online but then you access to it only by phone.

What 'online account list'?  states correctly that it can be opened online, but I haven't seen it described as an online account as such?  What access would you envisage anyway, once initial funding has been confirmed, given that the money can't be touched until maturity?

I did the transfer last Friday (not at the weekend as I mentioned earlier). I was expecting at list an automatic reply confirming they received it. Called them today, they still cannot access my account details. I'll use again the word 'disorganised'.

And you are right, ''once initial funding has been confirmed, given that the money can't be touched until maturity''. Still, I assumed that if you open an account online you can get to the details online too. Thanks for your comments. Wish me good luck.

How did it go in the end ?
I got my certificate deposit via email so everything was confirmed in the end, there customer service is up and down due to covid atm but bare with them they should be fine and hopefully you got your certificate confirmation too.

cisko65

Twong72 said:

cisko65 said:

eskbanker said:

cisko65 said:
They said (by email and over the phone) that once my deposit is placed they'll send out a Deposit Confirmation Certificate by email and by post.

They say that on their website too, as per the screenshot posted earlier.

cisko65 said:
Regarding not getting any online bank account access, I agree, it is very unusual. In MSE they appear in the online account list; you open it online but then you access to it only by phone.

What 'online account list'?  states correctly that it can be opened online, but I haven't seen it described as an online account as such?  What access would you envisage anyway, once initial funding has been confirmed, given that the money can't be touched until maturity?

I did the transfer last Friday (not at the weekend as I mentioned earlier). I was expecting at list an automatic reply confirming they received it. Called them today, they still cannot access my account details. I'll use again the word 'disorganised'.

And you are right, ''once initial funding has been confirmed, given that the money can't be touched until maturity''. Still, I assumed that if you open an account online you can get to the details online too. Thanks for your comments. Wish me good luck.

How did it go in the end ?
I got my certificate deposit via email so everything was confirmed in the end, there customer service is up and down due to covid atm but bare with them they should be fine and hopefully you got your certificate confirmation too.

Hi, so far so good.
I received a deposit certificate. I also checked again about not having access online and that happens with other deposit account. 

12Windlaw

A similar but worrying situation for me. On the basis of Martin's advice I accessed HBZ website. I was provided with their account details and deposited a fairy substantial sum. No acknowledgement and after 2 emails requesting this, I have informed my bank who are performing a forward tracing payment. Not impressed and very anxious. Perhaps Martin, you need to alert people to their poor operation - and hopefully confirm they are kosher. 

eskbanker

12Windlaw said:

A similar but worrying situation for me. On the basis of Martin's advice I accessed HBZ website.

[...]

Perhaps Martin, you need to alert people to their poor operation - and hopefully confirm they are kosher. 

Worth reading the explanatory info published further down this page, clarifying that MSE don't offer advice or 'confirm that institutions are kosher' (beyond validating FSCS coverage):

We think it's important you understand the strengths and limitations of the site. We're a journalistic website and aim to provide the best MoneySaving guides, tips, tools and techniques, but can't guarantee to be perfect, so do note you use the information at your own risk and we can't accept liability if things go wrong.

This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service.