Sainsbury's bank online problems

alanfp

Hi
Just my recent experience. I opened an online variable rate savings account because the rates were competitive. First problem was that their computer doesn't support that obscure web browser Google, but it didn't tell me that was the problem. So I had to phone their helpdesk who said I should use a different browser, which I did and managed to open an account OK.  

Deposited a small amount to check the system worked. On checking my balance I discovered that they were now offering a better rate on new accounts, but they hadn't told me, and hadn't raised the interest rate on my account. I call that sneaky. So I tried to withdraw money to transfer it back to my current account that I had used to pay in to the Sains a/c and the online system told me I wasn't the owner of that account (although I have in fact been the owner for  decades). So I phoned the 'online' help desk and waited 25 minutes. But they told me it wasn't an 'online problem' and that I had to speak to someone in "savings". So that was another 35 minutes wait, and the phone operator put the transfer through without any problem (so it HAD been an online problem). Account now closed (obvs).

Completely different was SAGA, who recently raised their interest rates on my variable rate account and emailed me to let me know. Account still open!

Rollinghome

Is there any reason why you wanted a Sainsbury account?

Their rates look pretty dismal compared to the competition.  The Extra Saver paying 0.35% for sub-£15k and e-Saver paying 0.70% up to £2 million don't come close to rates available elsewhere. So no Extra and not very Special. 

Saga/Marcus are better but have you checked  www.moneyfacts.co.uk? Banks rarely repay loyalty, so it pays to be fickle.

alanfp

.Rollinghome said:

Is there any reason why you wanted a Sainsbury account?

Their rates look pretty dismal compared to the competition.  The Extra Saver paying 0.35% for sub-£15k and e-Saver paying 0.70% up to £2 million don't come close to rates available elsewhere. So no Extra and not very Special. 

Saga/Marcus are better but have you checked  www.moneyfacts.co.uk? Banks rarely repay loyalty, so it pays to be fickle.

Sainsbury's because trusted, established UK brand, currently paying 0.95% for instant access. 

Rollinghome

alanfp said:

Sainsbury's because trusted, established UK brand, currently paying 0.95% for instant access. 

Well, it's important that you have trust in any bank you use, but often it's not until you have the problems you had that you find that confidence strained.  I can't remember when they were last able to offer leading rates, and perhaps why it was considering a sale last year.

I think you may be at least as well off with Saga, despite it being a white-labelled US bank.

Thrugelmir

alanfp said:

 First problem was that their computer doesn't support that obscure web browser Google, but it didn't tell me that was the problem. 

Google is a search engine. Google Chrome is however a web browser. 

alanfp

Thrugelmir said:

alanfp said:

 First problem was that their computer doesn't support that obscure web browser Google, but it didn't tell me that was the problem. 

Google is a search engine. Google Chrome is however a web browser. 

Sorry - I should have said "that obscure web browser FROM Google" but I really didn't think that was necessary in order to make my point. I think it's obvious to everyone else that I was using the Google web browser (which is currently called Chrome). 

Bigwheels1111

Everyone is offering better rates, I know you may not know the new banks but with FSCS protection you should be ok.
A good start is if it’s on this site.
Qib uk, Atom, Raisin via Starling bank,Chase uk, Tandem and Ford Money are new.
Ive invested with them all as had the best rates at the time.
Chase beats everyone at the moment with 1.5% easy access, soft search to open bank account and then 2 clicks opens savings account.
Only issue is the are not signed up to confirm payee.
Ive moved in and out about 100k with no issues on their side.