Al Rayan Everyday Saver Issue 3 - Surprise !

The_Fat_Controller

More good news, expected profit rate now 2.1%

DaveG247

Looks like I've got mine set up do you need to return the form before they send you log in details? Cheers

t1redmonkey

DaveG247 said:

Looks like I've got mine set up do you need to return the form before they send you log in details? Cheers

You can sign up to their app straight away, don't need to wait for the post to come.  I also thought you had to wait though so I phoned them initially to see if my £1 test deposit had gone through, but they told me I could sign up to the app straight away and they were right

Beddie

t1redmonkey said:

DaveG247 said:

Looks like I've got mine set up do you need to return the form before they send you log in details? Cheers

You can sign up to their app straight away, don't need to wait for the post to come.  I also thought you had to wait though so I phoned them initially to see if my £1 test deposit had gone through, but they told me I could sign up to the app straight away and they were right

I opened an account on Friday and tried registering on the app a few times, including today, but never get an access code sent to me. I'll have to call them, or just wait for the welcome letter.

Bigwheels1111

Beddie said:

t1redmonkey said:

DaveG247 said:

Looks like I've got mine set up do you need to return the form before they send you log in details? Cheers

You can sign up to their app straight away, don't need to wait for the post to come.  I also thought you had to wait though so I phoned them initially to see if my £1 test deposit had gone through, but they told me I could sign up to the app straight away and they were right

I opened an account on Friday and tried registering on the app a few times, including today, but never get an access code sent to me. I'll have to call them, or just wait for the welcome letter.

Calling them will work, Thats what I did.

If you have opened the account, you only need the account number.

Go to the app and select the second option, Account number etc.

It was a few weeks ago I did it.

adindas

I understand the minimum balance to earn 2.1% is £5,000. Does anyone know what happen if your balance fall below £5,000 for about a week (say) and happen more than a few times within a year? Do you still get the headline interest of 2.1% during the period ? Will they close your account ?

Rollinghome

adindas said:

I understand the minimum balance to earn 2.1% is £5,000. Does anyone know what happen if your balance fall below £5,00 for about a week (say) and happen more than a few times within a year? Do you still get the headline interest of 2.1% during the period ? Will they close your account ?

They won't close your account. In fact, I think the terms still say you have to write to them to close it, although it's said they will do it over the phone if you ask.  I've still got versions 1 and 2 showing after having zero balances for months.

When the rate became uncompetitive for a while, I just left a nominal amount in v.1 and was still paid a bit of interest.  I'd assume it's the same with v.3, but I haven't checked the terms.

masonic

adindas said:

I understand the minimum balance to earn 2.1% is £5,000. Does anyone know what happen if your balance fall below £5,000 for about a week (say) and happen more than a few times within a year? Do you still get the headline interest of 2.1% during the period ? Will they close your account ?

Mine's dipped below £5k a couple of times. I don't seem to be missing any interest as a consequence.

The_Fat_Controller

Bit of a surprise this morning, moved some funds into my account and got notifications by email and SMS.

Looking at the options in my account under "notifications" and when setting up a new notification the only option is "email" as is for the current notification.

BigBlueSky

Moneyfacts is now showing issue 3 as 2.12% - No mention on the Al Rayan website though or on the app.