Aldermore Slow Service

billy2shots

I will caveat this post by highlighting the time of year and a few days of mail strikes. However the process of opening an Aldermore 1 year fixed savings account has been painfully slow for modern times IMHO. 

14 November 2022 - Opened a 1 year fix but couldn't fund the account or log in due to receiving an email that day asking me to POST them a bank statement as proof of ID. No online verification was offered. 

The statement was posted that day. 14th November. 
The first Royal Mail strike was 24th November. 

Weeks go by without any contact and I mentally move on presuming my letter was lost in the post or misplaced by Aldermore. The account I opened was at 4.35%. Whilst waiting, the 1 year interest rates have dropped particular with providers I was prepared to use. 

I opened a higher paying current account than I had, parked the money in there and resigned myself to waiting until next year's ISA season opens for some of it (his and hers). 

Evening of 30th December - Email from Aldermore to say my account is fully open and I can start paying in!! 
I now have the account and ID numbers. 
14 November - 30th December!!

I notice the 1 year fixed has changed from 4.35 to 3.95 so I was eager to log on to see if I still got the 4.35% or not. 

Log in via website down for maintenance!!!




Obviously I can wait until the website is up and running but should I expect the rate to still be 4.35% given the length of time that's past. 

I'm in two minds about changing my financial plans yet again due to this new development especially as I don't think it's the best service from Aldermore, do I want to tie up £50k with them???

egroeg1980

I setup an alternative account with aldermore and I must say it was extremely quick. I was also applying for both barclays and fd at the same time which were slower, so Id say you were clearly unlucky. 

Equally so, the account I signed up for disappeared the next day after I had applied (instant saver, 2.85%) and when my paper work came through and logged on, it was indeed what I had applied for. So that should give you some comfort that you're locked in to the product and rate you selected.... 

Hope that helps! 

Albermarle

 Opened a 1 year fix but couldn't fund the account or log in due to receiving an email that day asking me to POST them a bank statement as proof of ID. No online verification was offered. 

I opened an Aldermore account with no need to send off a bank statement. So either they have changed their policy, or more likely the on line verification failed for some reason. There have been many similar threads about this, but with different providers each time. If the on line verification fails, it usually means significant delays, especially with postal strikes and the Xmas period.

LHW99

Albermarle said:

 Opened a 1 year fix but couldn't fund the account or log in due to receiving an email that day asking me to POST them a bank statement as proof of ID. No online verification was offered. 

I opened an Aldermore account with no need to send off a bank statement. So either they have changed their policy, or more likely the on line verification failed for some reason. There have been many similar threads about this, but with different providers each time. If the on line verification fails, it usually means significant delays, especially with postal strikes and the Xmas period.

I had the same experience as the OP, although I began the process 18/11. I got fed up with waiting, and phoned them (longish wait) the week before Christmas, and customer services must have kicked the computer, as I got confirmation of opening just before Christmas.

egroeg1980

Check the Coventry one now mind you, think they've just increased theirs to 3.25...

billy2shots

Finally received the last letter needed to access my account today 14th November - 5th December. 

Can't see what interest rate they have applied given the delay. 

1 Year Fixed is the only terminoly in various places. No % mentioned anywhere. 

Via Google, Aldermore say click account summary but again it just says 1 Year Fixed. 

Pulling teeth springs to mind.