The Top Fixed Interest Savings Discussion Area

LaMadreoftwo

I've tried all morning to open a Smartsave account. When it says it can't verify my bank account, after some digging around on google I read that it doesn't recognise old bank account details.  Mine is definitely old, had it and others for 40 years, was a staff account..So, I opened another current account with my bank, Smartsave can't verify those details too? Anyone got any suggestions? Tia 

TiVo_Lad

Your new account will be too new to verify. Might be worth asking SmartSave if they'll accept a Bank Statement instead to validate your account. They may say no, but worth a try.

refluxer

LaMadreoftwo said:

I've tried all morning to open a Smartsave account. When it says it can't verify my bank account, after some digging around on google I read that it doesn't recognise old bank account details.  Mine is definitely old, had it and others for 40 years, was a staff account..So, I opened another current account with my bank, Smartsave can't verify those details too? Anyone got any suggestions? Tia 

FWIW, I had exactly the same problem with Charter a while ago - the current account I'd held for nearly 30 years (with one of the biggest high-street banks in the country) couldn't be verified and I came to the same conclusion. Thankfully, this type of problem seems to be quite rare - for myself at least.

VNX

merchant_ac said:

JN Bank 6% for 4 and 5 year terms.

Anyone any experience with JN Bank?

VNX

ChilliBob said:

merchant_ac said:

JN Bank 6% for 4 and 5 year terms.

Pretty crap Google reviews! I reckon a more reliable well known institution might join them with something similar pretty soon

I normally don’t care about bank reviews as it’s normally people moaning but I’m not keen on the JN reviews think I’d rather a lower rate with potentially less hassle 

Barney1954

With over 1300 5-star reviews on Trustpilot, I think Jn Bank are worth a punt.

Alex9384

merchant_ac said:

JN Bank 6% for 4 and 5 year terms.

Nice!

Btw, if it says interest paid annually, does it mean it must be paid out or you can leave it there to compound?

Alex9384

Btw, Tandem also increased their rates to 5.85% but they pulled their 5 year bond. Now only up to 3 year fix.

Alex9384

And a bit off topic, but how have all those banks survived all those years when I didn't even know they existed, until this thread started? Especially if their main business is savings? With rates like 0.05%, how many people were interested in depositing their money in savings?

ForumUser7

Alex9384 said:

And a bit off topic, but how have all those banks survived all those years when I didn't even know they existed, until this thread started? Especially if their main business is savings? With rates like 0.05%, how many people were interested in depositing their money in savings?

They could access cheap funding from money markets and other banks, and cheap borrowing from BOE.