RCI Bank - incommunicado?

wmb194

JonSalji said:

wmb194 said:

JonSalji said:

Rollinghome said:

You are right though, that from the many complaints, both here and elsewhere, it seems that RCI are just not answering their phones or messages.  A lot of banks have understandingly had trouble with customer service lately, but none seem quite as bad as RCI.

I was considering their two-year fix due to the favourable interest rates but was put off because the most recent threads I can find were about RCI being difficult to contact.

Some banking apps, I find, have improved tremendously. I can leave a question and then get a notification when someone responds. Can then jump on quickly to have a conversation. 

Don't let it put you off. These accounts are very simple and the terms and instructions on how to make a deposit are clear. I've opened one and don't feel the need to contact RCI about anything.

It’s more for a “just in case” situation. I thought about it and actually went for a 3 year fix with TSB in the end - have also posted another thread here talking about how I had some issues, so mainstream banks don’t mean no problems 😆

Yeah, well, that was TSB. Its IT is abysmal. Generally fixed rate bonds are straightforward because you deposit once and withdraw once.

Rollinghome

JonSalji said:

Rollinghome said:

You are right though, that from the many complaints, both here and elsewhere, it seems that RCI are just not answering their phones or messages.  A lot of banks have understandingly had trouble with customer service lately, but none seem quite as bad as RCI.

I was considering their two-year fix due to the favourable interest rates but was put off because the most recent threads I can find were about RCI being difficult to contact.

Some banking apps, I find, have improved tremendously. I can leave a question and then get a notification when someone responds. Can then jump on quickly to have a conversation. 

It's likely to get a lot better when/if rates settle down, and I'd guess that a lot of the queries are about errors on the site rather than major problems. 

For example, people asking for monthly interest and expecting 4.60% AER for 1 yr have noticed that their account shows as "4.51% AER".  That seems to be just an error and is the monthly gross rate, not the AER.

So most people shouldn't need to contact them, but for the ones who do, they'll probably be out of luck.

JonSalji

Rollinghome said:

It's likely to get a lot better when/if rates settle down, and I'd guess that a lot of the queries are about errors on the site rather than major problems. 

For example, people asking for monthly interest and expecting 4.60% AER for 1 yr have noticed that their account shows as "4.51% AER".  That seems to be just an error and is the monthly gross rate, not the AER.

So most people shouldn't need to contact them, but for the ones who do, they'll probably be out of luck.

That’s definitely true. I have barely looked at my bank account for the past few years, just shunting money off into the usual savers accounts. The rise in rates have prompted me to do something - but still very much a novice in shuffling money around to take advantage of stuff so easily panicked by things!

LHW99

Had no problem opening a fixed rate account from RCI. Only (slight) issue is I can't transfer money across from the existing easy access account I hold with them, money for the fixed rate has to come via the linked current account.

Slightly odd, but the interest is OK so I can work around.