The Top Fixed Interest Savings Discussion Area

gt94sss2

Patr100 said:

DRS1 said:

And now the rate has gone down again KR 1 year FRB issue 19 - 4.11%.

I'm on Issue 17 and completed my deposits within the 2 weeks allowed.
Not sure why it says rate changed on 15/12 

It will show the 15/12 as that is when you made your opening deposit (taking your account balance to the minimum £1000)

Patr100

gt94sss2 said:

Patr100 said:

DRS1 said:

And now the rate has gone down again KR 1 year FRB issue 19 - 4.11%.

I'm on Issue 17 and completed my deposits within the 2 weeks allowed.
Not sure why it says rate changed on 15/12 

It will show the 15/12 as that is when you made your opening deposit (taking your account balance to the minimum £1000)

oh, in other words, interest rate "applied" at that point - confusing  way to phrase it as until that point, rate is 0% or non existent.

mills112

Metrocammell said:

Has anyone else had a problem applying for the Kent one year fixed bond? I applied early this week and all seemed to be going well until the next morning when the statement from within the last three months was rejected as the detail don't match. They definitely do. Anyhow, I thought I'd try with a statement from a different bank, the outcome was the same and it was rejected for the second time. I hoped it would be third time lucky, unfortunately it wasn't to be, and now the entire application has been rejected and they can't offer me an account. 

i applied for a kent reliance 12 months bond on 11 December and they didn't ask to see a bank statement so i am not sure why they asked you to forward a bank statement.  it could be that they couldn't verify your name on the nominated account that you had given them.

Shylock_249

mills112 said:

Metrocammell said:

Has anyone else had a problem applying for the Kent one year fixed bond? I applied early this week and all seemed to be going well until the next morning when the statement from within the last three months was rejected as the detail don't match. They definitely do. Anyhow, I thought I'd try with a statement from a different bank, the outcome was the same and it was rejected for the second time. I hoped it would be third time lucky, unfortunately it wasn't to be, and now the entire application has been rejected and they can't offer me an account. 

i applied for a kent reliance 12 months bond on 11 December and they didn't ask to see a bank statement so i am not sure why they asked you to forward a bank statement.  it could be that they couldn't verify your name on the nominated account that you had given them.

I don't think it helps as in my situation when the high street bank name the statement one way and the details on the cheque book another way and one never knows how "tight" the parameters are regarding correctness eg, Mr Moses Shylock & Mrs Ruth Shylock against the & substituted with the word AND.

One would think that when rejections occur (computer says NO) that an employee would have  immediate access to rejections and try and sort them out ASAP, if necessary buy phoning the customer, using a certain amount of common sense (perhaps that's the problem).  Countless would-be customers must move to other providers, me and the wife certainly have.

This year me and my wife had the same problem with Aldermore where they accepted my details but NOT the wife's and wanted a bank statement which I immediately emailed to them.  A week later they asked for the same information. I phoned them and told them that both me and my wife had had accounts with Aldermore less than a year before which we had held for well over three years.  It made NO difference.  I told them to close the unopened account.  We were trying to deposit 170k which we eventually deposited elsewhere.

We both have ISA accounts with Kent Reliance which we've held for about 3 years and have NOT had any problems regarding identity.  There is nothing to say that if we closed the accounts and a few months later applied again that we'd experience the same problems that others have on this conversation.

mills112

Shylock_249 said:

mills112 said:

Metrocammell said:

Has anyone else had a problem applying for the Kent one year fixed bond? I applied early this week and all seemed to be going well until the next morning when the statement from within the last three months was rejected as the detail don't match. They definitely do. Anyhow, I thought I'd try with a statement from a different bank, the outcome was the same and it was rejected for the second time. I hoped it would be third time lucky, unfortunately it wasn't to be, and now the entire application has been rejected and they can't offer me an account. 

i applied for a kent reliance 12 months bond on 11 December and they didn't ask to see a bank statement so i am not sure why they asked you to forward a bank statement.  it could be that they couldn't verify your name on the nominated account that you had given them.

I don't think it helps as in my situation when the high street bank name the statement one way and the details on the cheque book another way and one never knows how "tight" the parameters are regarding correctness eg, Mr Moses Shylock & Mrs Ruth Shylock against the & substituted with the word AND.

One would think that when rejections occur (computer says NO) that an employee would have  immediate access to rejections and try and sort them out ASAP, if necessary buy phoning the customer, using a certain amount of common sense (perhaps that's the problem).  Countless would-be customers must move to other providers, me and the wife certainly have.

This year me and my wife had the same problem with Aldermore where they accepted my details but NOT the wife's and wanted a bank statement which I immediately emailed to them.  A week later they asked for the same information. I phoned them and told them that both me and my wife had had accounts with Aldermore less than a year before which we had held for well over three years.  It made NO difference.  I told them to close the unopened account.  We were trying to deposit 170k which we eventually deposited elsewhere.

We both have ISA accounts with Kent Reliance which we've held for about 3 years and have NOT had any problems regarding identity.  There is nothing to say that if we closed the accounts and a few months later applied again that we'd experience the same problems that others have on this conversation.

they will need to match the full name on the account with that which you have opened, so if you tried to make a payment to that account via online banking, the bank would verify the payee and it would come up with "We found a match", if this doesn't happen, then most likely the application will fail and they will want a paper statement.

in the modern era, all verifications are done online so there won't be anybody employed to verify people's documents manually so it will take a while for that process to happen as that won't be the norm.

they will also check your address and name on the electoral register as part of their ID checks and if this doesn't match, that will also create an issue.

Shylock_249

mills112 said:

Shylock_249 said:

mills112 said:

Metrocammell said:

Has anyone else had a problem applying for the Kent one year fixed bond? I applied early this week and all seemed to be going well until the next morning when the statement from within the last three months was rejected as the detail don't match. They definitely do. Anyhow, I thought I'd try with a statement from a different bank, the outcome was the same and it was rejected for the second time. I hoped it would be third time lucky, unfortunately it wasn't to be, and now the entire application has been rejected and they can't offer me an account. 

i applied for a kent reliance 12 months bond on 11 December and they didn't ask to see a bank statement so i am not sure why they asked you to forward a bank statement.  it could be that they couldn't verify your name on the nominated account that you had given them.

I don't think it helps as in my situation when the high street bank name the statement one way and the details on the cheque book another way and one never knows how "tight" the parameters are regarding correctness eg, Mr Moses Shylock & Mrs Ruth Shylock against the & substituted with the word AND.

One would think that when rejections occur (computer says NO) that an employee would have  immediate access to rejections and try and sort them out ASAP, if necessary buy phoning the customer, using a certain amount of common sense (perhaps that's the problem).  Countless would-be customers must move to other providers, me and the wife certainly have.

This year me and my wife had the same problem with Aldermore where they accepted my details but NOT the wife's and wanted a bank statement which I immediately emailed to them.  A week later they asked for the same information. I phoned them and told them that both me and my wife had had accounts with Aldermore less than a year before which we had held for well over three years.  It made NO difference.  I told them to close the unopened account.  We were trying to deposit 170k which we eventually deposited elsewhere.

We both have ISA accounts with Kent Reliance which we've held for about 3 years and have NOT had any problems regarding identity.  There is nothing to say that if we closed the accounts and a few months later applied again that we'd experience the same problems that others have on this conversation.

they will need to match the full name on the account with that which you have opened, so if you tried to make a payment to that account via online banking, the bank would verify the payee and it would come up with "We found a match", if this doesn't happen, then most likely the application will fail and they will want a paper statement.

in the modern era, all verifications are done online so there won't be anybody employed to verify people's documents manually so it will take a while for that process to happen as that won't be the norm.

they will also check your address and name on the electoral register as part of their ID checks and if this doesn't match, that will also create an issue.

We agree, but I from experience have had instances where I’ve entered my details correctly, it’s something I did for most of my working life, and I expect the poster above did the same and still had rejections.

In the case of Aldermore they asked for a copy of a bank statement which I sent immediately and still a week later they had NOT authenticated it.  I would ask why can one enter the correct details with one bank and the same with another and one is accepted and the other isn’t?  We’ve got to accept that exactly the same details were entered.  The same details are required.

Recently I sent my sister in law some money to her joint account and she actually sent me a photo of her Bank Paying in Book.  When I tried to make the payment on line my high street bank couldn’t trace the name of the account holder.  She was the second name after her husband.  Trying a bit of trial and error, like only using their initials instead of their names etc etc I eventually got it accepted by entering her name in isolation….. so much for matching.

“in the modern era, all verifications are done online so there won't be anybody employed to verify people's documents manually so it will take a while for that process to happen as that won't be the norm”.

No, there won’t be any body verifying documents at the point of application BUT there’s got to be someone verifying follow up documents, I can’t see how a machine could do that.

Certainly if I were a bank owner (some wish) I’d tidy up the application process and have a dedicated individual trying to help would be clients who have had difficulties creating accounts.  If one looks at many of the one star SNOTAGRAMS of Trustpilot lots of those are related to creating accounts and customers are lost.

Quite some years ago NOT longer after I returned to the UK my wife tried to create a bank account with either Tesco or Sainsbury’s bank on line.  She filled out the application and was then asked to send supporting documents through the post which she did: Certified copies of her passport, bank statements, utility bills even a letter from the local council confirming she was on the electorial roll and so on.  Each time she’d sent them off they asked for something different.  Eventually she phoned them up saying she didn’t want to open the account and would they send back all the documents she had sent them.  The guy said, “I can see you’ve been through the wringer and I will now activate the account” so there are/were people employed to verity documents but they don’t seem pro-active in how they go about it.

intalex

Some credit where it's due, I had a Vanquis fixed account mature last month on a Saturday (anniversary of initial funding), and as expected the principal was paid on the Monday. However, the final interest included the 2 extra days that the principal was held by Vanquis over the weekend.

Contrasting with Coventry, where the product (and all accounts falling under this product) is titled 31.12.2025 and by design maturity happens on 01.01.2026 (bank holiday) and principal paid out on 02.01.2026 as expected, but interest excludes the 1 extra day that the principal was held by Coventry over the new year bank holiday.

GalacticaActual

Marcus has launched a 1-year fixed rate saver (13th January 2026?):

4.55% AER/gross* (fixed)

• 14 days to add up to £250,000
• Fixed interest rate for 1 year
• You can only hold one sole 1 Year Fixed Rate Saver account and one joint 1 Year Fixed Rate Saver account at any one time. You'll be able to apply for a new sole or joint 1 Year Fixed Rate Saver account once your fixed term has ended.
  

More details: https://www.marcus.co.uk/uk/en/savings/fixed-term-saver

refluxer

I'd recommend anyone interested in that Marcus fixed rate saver to open one sooner rather than later because, just like their last one, it may not hang around for long due to it being a decent amount higher than anything else available.

DRS1

GalacticaActual said:

Marcus has launched a 1-year fixed rate saver (13th January 2026?):

4.55% AER/gross* (fixed)

• 14 days to add up to £250,000
• Fixed interest rate for 1 year
• You can only hold one sole 1 Year Fixed Rate Saver account and one joint 1 Year Fixed Rate Saver account at any one time. You'll be able to apply for a new sole or joint 1 Year Fixed Rate Saver account once your fixed term has ended.
  

More details: https://www.marcus.co.uk/uk/en/savings/fixed-term-saver

Do you need an App for this account?  Almost the first thing I saw on the page was a download from Apple or Google bit.  But when I read the summary it seemed to say you could open and manage it online.