Charter Savings Bank

Dandytf

andyhicks88 said:

Forgive my ignorance but what is HL?

Hargreaves Lansdown.

thanks

2010

Malchester said:

Have had accounts in the past. My only gripe with them is that when an account reaches maturity they do not offer the rates they offer new customers. I was offered a much lower rate to transfer my money into than a new customer could have got for the same term

I have never exprienced this.
If the transfer rate is not as good, there is nothing to stop you opening an account with a better rate and telling them to transfer the maturing account money into it.
There are not better rates for new customers.
All rates are on the website and are open to everyone.

Saga

I was with them before they reduced their rates about a year ago.  Had no problems at all with them. My only little gripes were (1) they don't notify existing customers when they issue a new product with a higher rate^ so you need to be constantly checking the website; and (2) their PDF download statements don't carry an address, so when I needed statements as proof of savings I had to specifically message CSB to ask for 'proper' hard copies (this being the only other option available) that had to be mailed.

^Edit: on reflection, nobody does this (I think) so it's a baseless "gripe"! 🤣

Audaxer

ColdIron said:

Hargreaves Lansdown. They offer investment services but also savings accounts from other savings providers such as Charter Savings Bank

https://www.hl.co.uk/investment-services/active-savings

Just tried to look at HL Active Savings to see the rates, but it won't let you see who you can save with until you have opened an Active Savings Account. That is even although I have another account with them, so a bit disappointed in that.

AskAsk

Audaxer said:

ColdIron said:

Hargreaves Lansdown. They offer investment services but also savings accounts from other savings providers such as Charter Savings Bank

https://www.hl.co.uk/investment-services/active-savings

Just tried to look at HL Active Savings to see the rates, but it won't let you see who you can save with until you have opened an Active Savings Account. That is even although I have another account with them, so a bit disappointed in that.

this page gives the information you are looking for?

https://www.hl.co.uk/partners/search/active-savings?partners=1&theSource=PCHLC&Override=1&adg=G+HLAS+E+NSI&gclid=Cj0KCQjw8p2MBhCiARIsADDUFVGY_JBQgKiCsrTcD0yF_1-3hc2tmqMF20XYJCtbXJFjuynwi99SwKQaAv9WEALw_wcB

eskbanker

Audaxer said:

ColdIron said:

Hargreaves Lansdown. They offer investment services but also savings accounts from other savings providers such as Charter Savings Bank

https://www.hl.co.uk/investment-services/active-savings

Just tried to look at HL Active Savings to see the rates, but it won't let you see who you can save with until you have opened an Active Savings Account. That is even although I have another account with them, so a bit disappointed in that.

That page shows all the accounts with rates if you scroll down far enough?

ColdIron

Audaxer said:

ColdIron said:

Hargreaves Lansdown. They offer investment services but also savings accounts from other savings providers such as Charter Savings Bank

https://www.hl.co.uk/investment-services/active-savings

Just tried to look at HL Active Savings to see the rates, but it won't let you see who you can save with until you have opened an Active Savings Account. That is even although I have another account with them, so a bit disappointed in that.

Strange, it works for me even when I am logged out. You do need to scroll down about a third of the way of a fairly long page and then they are there

Audaxer

eskbanker said:

Audaxer said:

ColdIron said:

Hargreaves Lansdown. They offer investment services but also savings accounts from other savings providers such as Charter Savings Bank

https://www.hl.co.uk/investment-services/active-savings

Just tried to look at HL Active Savings to see the rates, but it won't let you see who you can save with until you have opened an Active Savings Account. That is even although I have another account with them, so a bit disappointed in that.

That page shows all the accounts with rates if you scroll down far enough?

Thanks, I didn't scroll down far enough. For these smaller banks, some of which I've not heard of before, is it safer or less administrative, to go through HL Active Savings rather than to the individual banks' websites?

ColdIron

A big advantage for me is that you don't need to establish a new relationship (ID, address documents etc) with every new bank you want to save with. Sometimes the rates are better than going direct, sometimes they're not. Also when one matures the money goes into their Cash Hub, or an easy access account if you have opened one, and then move it to a new one without withdrawing and re-depositing large amounts which avoids occasional problems

The processes and customer service at some of the smaller challenger banks aren't always tip top but dealing with only HL shields you from all that. I say some, but not all, Aldermore, Paragon and their like are excellent

In a word convenience. I doubt it is safer as you are covered with the FSCS protection of the underlying bank except when it is waiting in the cash hub

Audaxer

ColdIron said:

A big advantage for me is that you don't need to establish a new relationship (ID, address documents etc) with every new bank you want to save with. Sometimes the rates are better than going direct, sometimes they're not. Also when one matures the money goes into their Cash Hub, or an easy access account if you have opened one, and then move it to a new one without withdrawing and re-depositing large amounts which avoids occasional problems

The processes and customer service at some of the smaller challenger banks isn't always tip top but dealing with only HL shields you from all that. I say some, but not all, Aldermore, Paragon and their like are excellent

Thanks @ColdIron, that sounds good. I was also looking at the  AJ Bell Cash Savings Hub, which seems to be similar. Have you had any experience of using that hub?