Impossible Union bank Of India Investment

only1claire

so you create an online account and get as far as using their postcode for your address which fills in your address. except you have a house name so the number box is empty here ends your first attempt as you leave.
then you get an email a week later with a unique refewrence number etc and you try to log on to pay the money in using the bank details from the email. Not a chance. you still cant log on so you call them. call centre says you must be successful after going through it with him. then he comes up with the idea that if you use your bank to pay in ten thousand pounds maybe the confirming email will have another unique reference number to allow you to log on. do you want to gamble ?
union bank of india did not deserve the hype of a mL endoresemnt as a top investment. useless

eskbanker

only1claire said:

union bank of india did not deserve the hype of a mL endoresemnt as a top investment. useless

What "hype of a mL endoresemnt as a top investment"?

If you simply mean that they were shown in a list of savings accounts sequenced by interest rate, then that's rather different, and it's always worth also reading the caveat at the foot of each page:

This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service

bristolleedsfan

only1claire said:

so you create an online account and get as far as using their postcode for your address which fills in your address. except you have a house name so the number box is empty here ends your first attempt as you leave.
then you get an email a week later with a unique refewrence number etc and you try to log on to pay the money in using the bank details from the email. Not a chance. you still cant log on so you call them. call centre says you must be successful after going through it with him. then he comes up with the idea that if you use your bank to pay in ten thousand pounds maybe the confirming email will have another unique reference number to allow you to log on. do you want to gamble ?
union bank of india did not deserve the hype of a mL endoresemnt as a top investment. useless

Fair to say that how it is designed to work -

1. Apply for fixed rate account
2. Fund account
3. Assuming funding has met T+C and application stated deposit amount receive email within 24 hours confirming funds received
4. Shortly after above email receive another email - "Your Login Details for accessing Union Premier Bond account are enclosed as an encrypted PDF attachment".

Swipe

I'm surprised so many people are prepared to go through the stress of something going wrong with these smaller banks. When I pay something into an account I prefer to see instant confirmation that my money has arrived.

soulsaver

Yes - not a process we're all comfortable with, chuck our hard earned money into the ether* and wait 24 hours for a confirmation that it arrived.

Especially when you realise the headline interest is 'simple' interest - not compounded for >1yr accounts.

* I was going to say 'black hole' but decided that in the circumstances, it may be seen in a poor light...  

soulsaver

PS Can you see a black hole in a poor light? lol

Malthusian

You can't see a black hole in any light; the nature of a black hole is that it sucks all the light away. To "see" something, light has to bounce off it and into your retinas. If light (poor or good) hits a black hole it doesn't come back. We can only "see" them by observing what happens to objects around them. 
The more you know!

Albermarle

Swipe said:

I'm surprised so many people are prepared to go through the stress of something going wrong with these smaller banks. When I pay something into an account I prefer to see instant confirmation that my money has arrived.

It is better to see instant confirmation that money has arrived
Problem with that it is costly, as these smaller banks, where you typically have to wait a day, pay the best rates.
In any case they are all covered by £85K FSCS .

Swipe

Albermarle said:

In any case they are all covered by £85K FSCS .

Even if your money never arrives?

mcfly998

Just had my confirmation from them, for the deposit I sent on Sunday (3yr fixed).  It would have been nice to have the account details and confirmation sooner, but I always double check the details before I do a transfer and everything has gone through just as they said it would and with no headaches. Ask me again in 3 years though.

lohr500

@only1claire Which account were you/are you trying to open with UBI?