The Top Fixed Interest Savings Discussion Area

Rollinghome

n3ophyte said:

auser99 said:

Quite a mixed bunch of comments about these Vanquis bonds.

Just to be clear, as a new user, can you simply open it electronically, and then fund it immediately like with most accounts?
Is the sending details in / getting login details in the post just for some users? 

I’m new to Vanquis and applied for their 2yr bond this morning. Was accepted but I have to wait to receive login details via post. You have 30 days from application to start funding the account then 5 working days from your 1st payment to fully fund it.

Are you sure you've read that correctly?

It says: "Due to some limits imposed by banks on transferring your funds, we will accept multiple payments within a 5 business day window". It also says: "Important: Please be aware that we have to complete the opening of your account including the funding of your deposit within 30 days of your application otherwise we will assume you no longer wish to invest with us and close your application."

That reads to me as you have 30 days in total, or, 5 days from first deposit.  Not 30 days then a further 5 days to fully fund it.

VNX

Had no issue with Vanquis, odd that some have.

I appreciate they are market leading with 6.2% but one can get 6.15, 6.07 - 6.0 with many other institutions I appreciate these rates a slightly lower but unless one has a very large amount to save the difference in interest isn’t big so if one is having issues or are frustrated with Vanquis just go without someone else 

susanann_2

I’m having issues with Vanquis as well. They want proof of ID, proof of address and a bank statement. Never had to do this before and I’ve opened loads of accounts. I can send them but a bit concerned having to put ID etc in the post am I worrying unnecessarily. 

uk1

susanann_2 said:

I’m having issues with Vanquis as well. They want proof of ID, proof of address and a bank statement. Never had to do this before and I’ve opened loads of accounts. I can send them but a bit concerned having to put ID etc in the post am I worrying unnecessarily. 

No you are not!

DjangoUnchained

yeah, had same issue. TBH there are so many decent fixed rates out there ive opened without all this postal hassle i just move on and open one with somewhere else.

bristolleedsfan

Unsurprisingly Vanquis 1 and 2 year fixed rate now 6%

https://www.vanquis.co.uk/savings

MikeJXE

Atom are doing a 6% it was easy peasy 

TiVo_Lad

I do wonder whether the Castle Trust 1 Yr at 6.2% was the high point for now.

CaptainWales

My feeling is that there is still some way to go. 

VNX

In the medium term there probably are some increases ahead but I’m not sure they will be very big. 

In the short term most institutions seem to be holding forum around 6/6.06 for now on two years

we will see with future inflation data. 

I have personally locked in my two year bond with OakNorth at 6% if rates do hit say 6.3% - 6.5% so be it but I’ll lose out waiting and I’m happy with OakNorth nice app, good service and I have other accounts with them,

as always it’s an individual choice and as for the future as we have seen who knows!