Al Rayan Bank

jicms

Band7 said:

Sorry, not instant access but easy access. You get your money within 20-30 minutes on working days. No withdrawals at weekends and bank holidays.

There is a daily maximum withdrawal limit of £20k per (week)day.

Rollinghome

jicms said:

Band7 said:

Sorry, not instant access but easy access. You get your money within 20-30 minutes on working days. No withdrawals at weekends and bank holidays.

There is a daily maximum withdrawal limit of £20k per (week)day.

£20k online, £10k by phone last time I asked.

the_gardener_2

They really do offer a bad deals on all their products .   Just look at their trustpilot ratiings.

masonic

the_gardener_2 said:

They really do offer a bad deals on all their products .   Just look at their trustpilot ratiings.

???

I've had some really good products from Al Rayan. They have been market leading for significant periods of time, so it is certainly not true that all of their products are bad deals. They are one of the providers that seems to look after existing customers with respect to rate rises, though not indefinitely and it always pays to shop around.

Trustpilot ratings are only as good as the people who write them. People were queueing up to give scammers LC&F five star ratings until their money was stolen. A low Trustpilot rating is indicative that the business isn't wasting money engaging with Trustpilot. Several services I use and rate have a low Trustpilot rating.

Ayr_Rage

They are currently offer a great deal for another fixed term when my current fix ends in 2 weeks. 

4.5% for 12 months with profit on maturity or 4.43% if paid quarterly.

I think they want to keep me !

Their retention offer beats anything here https://moneyfactscompare.co.uk/savings-accounts/1-year-fixed-rate-bonds/

On Moneyfacts they are still the best for 18/24/36 months however the personalised retention offers in my letter beat the publicly available rates too.

Rollinghome

the_gardener_2 said:

They really do offer a bad deals on all their products .   Just look at their trustpilot ratiings.

For low Trustpilot ratings check out the major banks such as Santander and Lloyds.  Around half that of AlRayan.  The best ratings tend to be for new, small banks, who are often much adored, until they aren't.

Band7

Low Trustpilot ratings are often / most of the time given by people who haven’t read the T&Cs and therefore have inflated expectations.

Not a place I would go to for opinions on financial products. 

As to Al Rayan: I don’t currently have money with them as I get better deals elsewhere. I have had money with them in the past, for many years, and I’d be back in a flash if they have market-leading products again, like they did in the past, for ISA and non-ISA savings. 

Beddie

I have used them and found them to be straightforward to deal with.

soulsaver

Ayr_Rage said:

They are currently offer a great deal for another fixed term when my current fix ends in 2 weeks. 

4.5% for 12 months with profit on maturity or 4.43% if paid quarterly.

I think they want to keep me !

Their retention offer beats anything here https://moneyfactscompare.co.uk/savings-accounts/1-year-fixed-rate-bonds/

On Moneyfacts they are still the best for 18/24/36 months however the personalised retention offers in my letter beat the publicly available rates too.

Yeah - but the others' personalised retention offers aren't on Moneyfacts either...

allegro120

Band7 said:

Low Trustpilot ratings are often / most of the time given by people who haven’t read the T&Cs and therefore have inflated expectations.

Not a place I would go to for opinions on financial products. 

As to Al Rayan: I don’t currently have money with them as I get better deals elsewhere. I have had money with them in the past, for many years, and I’d be back in a flash if they have market-leading products again, like they did in the past, for ISA and non-ISA savings. 

Very much agree, Trustpilot is not the place for informed advice on making financial decisions. I don't see much value of their "stars" and posted comments.

AR was working well for me for few years. They were in the lead in IA game for some time, but not competitive any more. I hope they will catch up.  Currently I have some funds stuck in 1 year fixed @2.33%, matures on 6th June - one of the silly mistakes I've made thinking that the rates are unlikely to raise much further.