Vanquis Bank

cricidmuslibale

Savings_Dave said:

A question which I can't find an answer to - if I leave the monthly interest in the account as opposed to paying out to my nominated account would I earn interest on the interest or is it just the original deposit amount ? Thanks

Yes you would earn interest on the interest as well as on the original deposit amount. That’s how compound interest works and why the monthly gross interest rate you earn will usually be slightly lower than the AER or annual gross interest rate.

jimexbox

Savings_Dave said:

Still no letters after two weeks and no e-mail reply - had to phone after on hold for nearly an hour...have made some progress but still need a code in the post!

A question which I can't find an answer to - if I leave the monthly interest in the account as opposed to paying out to my nominated account would I earn interest on the interest or is it just the original deposit amount ? Thanks

If you choose monthly interest (one year) it will show as 4.51%, which is 4.6% AER if you leave the interest in the account. 

Millyonare

Two weeks for 1 account. Nearly 3 weeks in, and the 2nd account is still not open.

Have binned them off.

SPWaller

I applied on the 7th November and waited over 2 weeks for them to open it after sending off paperwork. I then had to change my nominated account, waited another week or so for the letter with the code. Finally got it today and submitted it, only to get the below message.

"Your nominated bank account will be available for online transactions soon. We will send you a message when it is ready."

Does anybody know how long this is going to take as I haven't got much longer until the 30 days are up to fund the account?

Would be seriously p'd off if I miss out after this complete farce.

Thanks

Ted_01

It should work the following day, that was my experience.

intalex

How (and when) can one view the following details on a Vanquis fixed rate on online banking, once the initial deposit(s) have been made (today in my case)?
- Gross interest rate (I've chosen the monthly paid-out option)
- Maturity date

Thanks in advance

jimexbox

intalex said:

How (and when) can one view the following details on a Vanquis fixed rate on online banking, once the initial deposit(s) have been made (today in my case)?
- Gross interest rate (I've chosen the monthly paid-out option)
- Maturity date

Thanks in advance

All the info you want will populate in a couple of days. 

intalex

jimexbox said:

intalex said:

How (and when) can one view the following details on a Vanquis fixed rate on online banking, once the initial deposit(s) have been made (today in my case)?
- Gross interest rate (I've chosen the monthly paid-out option)
- Maturity date

Thanks in advance

All the info you want will populate in a couple of days. 

All appearing now - the opening date has also changed from account opening date to today (first deposit), and maturity date is 3 years from today.