Notice Accounts

Rudyson

NameWithheld said:

They are going to have to increase them again following Zopa's increase

Yes. Almost identical rates, but Zopa's flexibility wins hands down

SuzzleBumpkin

Mansfield BSeTracker 90 day (1st Issue) just released at 3.5%
Great rate, shame its only available with yearly interest pay outs, which is not great for people who want to earn a monthly income from their savings. 

ForumUser7

SuzzleBumpkin said:

Mansfield BSeTracker 90 day (1st Issue) just released at 3.5%
Great rate, shame its only available with yearly interest pay outs, which is not great for people who want to earn a monthly income from their savings. 

It states the minimum opening balance on that account is £1,000 - but it doesn’t say that is also the minimum operating balance. Do you think this means the minimum operating balance would be £0?

SuzzleBumpkin

ForumUser7 said:

SuzzleBumpkin said:

Mansfield BSeTracker 90 day (1st Issue) just released at 3.5%
Great rate, shame its only available with yearly interest pay outs, which is not great for people who want to earn a monthly income from their savings. 

It states the minimum opening balance on that account is £1,000 - but it doesn’t say that is also the minimum operating balance. Do you think this means the minimum operating balance would be £0?

I don’t know. I’ve looked at the T&Cs, but I didn’t see it mentioned.

ForumUser7

SuzzleBumpkin said:

Mansfield BSeTracker 90 day (1st Issue) just released at 3.5%
Great rate, shame its only available with yearly interest pay outs, which is not great for people who want to earn a monthly income from their savings. 

Now NLA! Only their postal version now. Beware, they are very difficult to contact

SuzzleBumpkin

ForumUser7 said:

SuzzleBumpkin said:

Mansfield BSeTracker 90 day (1st Issue) just released at 3.5%
Great rate, shame its only available with yearly interest pay outs, which is not great for people who want to earn a monthly income from their savings. 

Now NLA! Only their postal version now. Apply at your own peril, they are very difficult to get through to

Whenever anyone brings out a new product with a much better rate than the competition, the lines jam up and you can’t get through. It’s easy to assume they have poor customer relations but it usually eases off after a fortnight. If you speak to the staff at any of the very competitive banks/BSs  they have a chaotic couple of weeks where they struggle to cope with demand. They can get oversubscribed quickly as well so lots of products get withdrawn a few days after launching. That’s happened a lot lately. So personally, I wouldn’t worry about it. 

ForumUser7

SuzzleBumpkin said:

ForumUser7 said:

SuzzleBumpkin said:

Mansfield BSeTracker 90 day (1st Issue) just released at 3.5%
Great rate, shame its only available with yearly interest pay outs, which is not great for people who want to earn a monthly income from their savings. 

Now NLA! Only their postal version now. Apply at your own peril, they are very difficult to get through to

Whenever anyone brings out a new product with a much better rate than the competition, the lines jam up and you can’t get through. It’s easy to assume they have poor customer relations but it usually eases off after a fortnight. If you speak to the staff at any of the very competitive banks/BSs  they have a chaotic couple of weeks where they struggle to cope with demand. They can get oversubscribed quickly as well so lots of products get withdrawn a few days after launching. That’s happened a lot lately. So personally, I wouldn’t worry about it. 

You’re entirely correct, and I do understand this, I just don’t understand Mansfield’s approach to telephone service. Long phone queues aren’t ideal, but leaving voicemails requesting callbacks, and then not getting the callbacks, is really not ideal.

I’ve applied for lots of products from competitive providers (incl small societies) recently, and while account opening has occasionally been slow etc., they’ve always tended to answer my
calls within 20 minutes, and have replied to my emails the same, or the next day.

For Mansfield on the other hand, 13 days have now passed since my email - no response, despite chasing it up. 4 callbacks have been requested this week - no response to any.

All the overloaded providers I’ve applied to have offered much better service than this. To be honest, having a queuing function rather than just a voicemail system would make it several times better

SuzzleBumpkin

ForumUser7 said:

SuzzleBumpkin said:

ForumUser7 said:

SuzzleBumpkin said:

Mansfield BSeTracker 90 day (1st Issue) just released at 3.5%
Great rate, shame its only available with yearly interest pay outs, which is not great for people who want to earn a monthly income from their savings. 

Now NLA! Only their postal version now. Apply at your own peril, they are very difficult to get through to

Whenever anyone brings out a new product with a much better rate than the competition, the lines jam up and you can’t get through. It’s easy to assume they have poor customer relations but it usually eases off after a fortnight. If you speak to the staff at any of the very competitive banks/BSs  they have a chaotic couple of weeks where they struggle to cope with demand. They can get oversubscribed quickly as well so lots of products get withdrawn a few days after launching. That’s happened a lot lately. So personally, I wouldn’t worry about it. 

You’re entirely correct, and I do understand this, I just don’t understand Mansfield’s approach to telephone service. Long phone queues aren’t ideal, but leaving voicemails requesting callbacks, and then not getting the callbacks, is really not ideal.

I’ve applied for lots of products from competitive providers (incl small societies) recently, and while account opening has occasionally been slow etc., they’ve always tended to answer my
calls within 20 minutes, and have replied to my emails the same, or the next day.

For Mansfield on the other hand, 13 days have now passed since my email - no response, despite chasing it up. 4 callbacks have been requested this week - no response to any.

All the overloaded providers I’ve applied to have offered much better service than this. To be honest, having a queuing function rather than just a voicemail system would make it several times better

In my experience that sounds about normal for a new product launch from a challenger. I kind of expect it now. I take a lot of extra care with my online application so I won’t need to ask for any online support, or need to phone anybody, because I know customer services will be swamped. The only exception was Santander, who are a HUGE Bank, totally unprepared for their recent esaver launch. That was a debacle extraordinaire!!! I had no access to my deposited funds for 6 weeks which is really not acceptable.

SuzzleBumpkin

Does anyone have any experience with cancelling a notice to close an account with Zopa or Flagstone (Allica Bank)? I got fed up with their very slow reaction to previous BoE rate increases. They’re both competitive again now so I’m thinking of cancelling the closure notices. Is it straightforward to cancel the notice?

janusd

SuzzleBumpkin said:

Does anyone have any experience with cancelling a notice to close an account with Zopa or Flagstone (Allica Bank)? I got fed up with their very slow reaction to previous BoE rate increases. They’re both competitive again now so I’m thinking of cancelling the closure notices. Is it straightforward to cancel the notice?

for Zopa, if it's a Smart Saver notice pot that you want to un-cancel, you can do that via the app using the "Cancel Notice" button inside the pot.