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MBNA 1 year fixed rate savings account
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Steve_xx said:TheMysticBeaver said:People losing their mind over no online access…First things first, it tells you that right at the beginning before you even apply that the account is manageable via Telephone only.Secondly, Banks get a huge pushback from a lot of people when they try to push digital access and now they offer an account without it people are outraged.MBNA are working on online access, and I would imagine come the turn of the year there will be news on this. Paper statements are available should anyone wish for them however in accordance to the whole Lloyds banking group, Emails are not deemed a safe route to deliver statements Hence why no one will be receiving email statements.
They have had some issues with their Texting system and id suggest anyone who hasn’t received a text to give them a call to resolve the issue.Come maturity, Funds including interest are automatically transferred back into your nominated account. You will receive a reminder 2 weeks prior to maturity.Unfortunately I think there have been a lot of people who have seen this account advertised via MSE Martin Lewis and have jumped in head first without reviewing if this account suits them.1 -
Hoenir said:Steve_xx said:TheMysticBeaver said:People losing their mind over no online access…First things first, it tells you that right at the beginning before you even apply that the account is manageable via Telephone only.Secondly, Banks get a huge pushback from a lot of people when they try to push digital access and now they offer an account without it people are outraged.MBNA are working on online access, and I would imagine come the turn of the year there will be news on this. Paper statements are available should anyone wish for them however in accordance to the whole Lloyds banking group, Emails are not deemed a safe route to deliver statements Hence why no one will be receiving email statements.
They have had some issues with their Texting system and id suggest anyone who hasn’t received a text to give them a call to resolve the issue.Come maturity, Funds including interest are automatically transferred back into your nominated account. You will receive a reminder 2 weeks prior to maturity.Unfortunately I think there have been a lot of people who have seen this account advertised via MSE Martin Lewis and have jumped in head first without reviewing if this account suits them.1 -
Steve_xx said:TheMysticBeaver said:People losing their mind over no online access…First things first, it tells you that right at the beginning before you even apply that the account is manageable via Telephone only.Secondly, Banks get a huge pushback from a lot of people when they try to push digital access and now they offer an account without it people are outraged.MBNA are working on online access, and I would imagine come the turn of the year there will be news on this. Paper statements are available should anyone wish for them however in accordance to the whole Lloyds banking group, Emails are not deemed a safe route to deliver statements Hence why no one will be receiving email statements.
They have had some issues with their Texting system and id suggest anyone who hasn’t received a text to give them a call to resolve the issue.Come maturity, Funds including interest are automatically transferred back into your nominated account. You will receive a reminder 2 weeks prior to maturity.Unfortunately I think there have been a lot of people who have seen this account advertised via MSE Martin Lewis and have jumped in head first without reviewing if this account suits them.
Unfortunately not many do understand the process and go jumping into things without checking first.
it won’t be an account that everyone likes, but there’s nothing to manage so what does an online portal offer that a paper statement doesn’t? Completely different if it’s a accessible account where you can withdraw from, but it’s not so I’m not sure what anyone gains from an online portal other than to confirm what you will already know and what a telephone call or paper statement would confirm.1 -
Steve_xx said:Hoenir said:Steve_xx said:TheMysticBeaver said:People losing their mind over no online access…First things first, it tells you that right at the beginning before you even apply that the account is manageable via Telephone only.Secondly, Banks get a huge pushback from a lot of people when they try to push digital access and now they offer an account without it people are outraged.MBNA are working on online access, and I would imagine come the turn of the year there will be news on this. Paper statements are available should anyone wish for them however in accordance to the whole Lloyds banking group, Emails are not deemed a safe route to deliver statements Hence why no one will be receiving email statements.
They have had some issues with their Texting system and id suggest anyone who hasn’t received a text to give them a call to resolve the issue.Come maturity, Funds including interest are automatically transferred back into your nominated account. You will receive a reminder 2 weeks prior to maturity.Unfortunately I think there have been a lot of people who have seen this account advertised via MSE Martin Lewis and have jumped in head first without reviewing if this account suits them.
a fixed rate saving account which you find in 14 days doesn’t have any requirement for customer interaction other than for confirmation that funds have been recieved which you would receives via Text or you can request a paper statement.
Considering they’re covered for deposits up to £85,000 with the FSCA and are part of the Lloyds Banking Group, I’d find it very difficult to imagine they will lose your investment.1 -
TheMysticBeaver said:Steve_xx said:TheMysticBeaver said:People losing their mind over no online access…First things first, it tells you that right at the beginning before you even apply that the account is manageable via Telephone only.Secondly, Banks get a huge pushback from a lot of people when they try to push digital access and now they offer an account without it people are outraged.MBNA are working on online access, and I would imagine come the turn of the year there will be news on this. Paper statements are available should anyone wish for them however in accordance to the whole Lloyds banking group, Emails are not deemed a safe route to deliver statements Hence why no one will be receiving email statements.
They have had some issues with their Texting system and id suggest anyone who hasn’t received a text to give them a call to resolve the issue.Come maturity, Funds including interest are automatically transferred back into your nominated account. You will receive a reminder 2 weeks prior to maturity.Unfortunately I think there have been a lot of people who have seen this account advertised via MSE Martin Lewis and have jumped in head first without reviewing if this account suits them.
Unfortunately not many do understand the process and go jumping into things without checking first.
it won’t be an account that everyone likes, but there’s nothing to manage so what does an online portal offer that a paper statement doesn’t? Completely different if it’s a accessible account where you can withdraw from, but it’s not so I’m not sure what anyone gains from an online portal other than to confirm what you will already know and what a telephone call or paper statement would confirm.1 -
TheMysticBeaver said:Steve_xx said:Hoenir said:Steve_xx said:TheMysticBeaver said:People losing their mind over no online access…First things first, it tells you that right at the beginning before you even apply that the account is manageable via Telephone only.Secondly, Banks get a huge pushback from a lot of people when they try to push digital access and now they offer an account without it people are outraged.MBNA are working on online access, and I would imagine come the turn of the year there will be news on this. Paper statements are available should anyone wish for them however in accordance to the whole Lloyds banking group, Emails are not deemed a safe route to deliver statements Hence why no one will be receiving email statements.
They have had some issues with their Texting system and id suggest anyone who hasn’t received a text to give them a call to resolve the issue.Come maturity, Funds including interest are automatically transferred back into your nominated account. You will receive a reminder 2 weeks prior to maturity.Unfortunately I think there have been a lot of people who have seen this account advertised via MSE Martin Lewis and have jumped in head first without reviewing if this account suits them.
a fixed rate saving account which you find in 14 days doesn’t have any requirement for customer interaction other than for confirmation that funds have been recieved which you would receives via Text or you can request a paper statement.
Considering they’re covered for deposits up to £85,000 with the FSCA and are part of the Lloyds Banking Group, I’d find it very difficult to imagine they will lose your investment.1 -
Steve_xx said:TheMysticBeaver said:Steve_xx said:TheMysticBeaver said:People losing their mind over no online access…First things first, it tells you that right at the beginning before you even apply that the account is manageable via Telephone only.Secondly, Banks get a huge pushback from a lot of people when they try to push digital access and now they offer an account without it people are outraged.MBNA are working on online access, and I would imagine come the turn of the year there will be news on this. Paper statements are available should anyone wish for them however in accordance to the whole Lloyds banking group, Emails are not deemed a safe route to deliver statements Hence why no one will be receiving email statements.
They have had some issues with their Texting system and id suggest anyone who hasn’t received a text to give them a call to resolve the issue.Come maturity, Funds including interest are automatically transferred back into your nominated account. You will receive a reminder 2 weeks prior to maturity.Unfortunately I think there have been a lot of people who have seen this account advertised via MSE Martin Lewis and have jumped in head first without reviewing if this account suits them.
Unfortunately not many do understand the process and go jumping into things without checking first.
it won’t be an account that everyone likes, but there’s nothing to manage so what does an online portal offer that a paper statement doesn’t? Completely different if it’s a accessible account where you can withdraw from, but it’s not so I’m not sure what anyone gains from an online portal other than to confirm what you will already know and what a telephone call or paper statement would confirm.May I ask, did you already open one?0 -
TheMysticBeaver said:Steve_xx said:TheMysticBeaver said:Steve_xx said:TheMysticBeaver said:People losing their mind over no online access…First things first, it tells you that right at the beginning before you even apply that the account is manageable via Telephone only.Secondly, Banks get a huge pushback from a lot of people when they try to push digital access and now they offer an account without it people are outraged.MBNA are working on online access, and I would imagine come the turn of the year there will be news on this. Paper statements are available should anyone wish for them however in accordance to the whole Lloyds banking group, Emails are not deemed a safe route to deliver statements Hence why no one will be receiving email statements.
They have had some issues with their Texting system and id suggest anyone who hasn’t received a text to give them a call to resolve the issue.Come maturity, Funds including interest are automatically transferred back into your nominated account. You will receive a reminder 2 weeks prior to maturity.Unfortunately I think there have been a lot of people who have seen this account advertised via MSE Martin Lewis and have jumped in head first without reviewing if this account suits them.
Unfortunately not many do understand the process and go jumping into things without checking first.
it won’t be an account that everyone likes, but there’s nothing to manage so what does an online portal offer that a paper statement doesn’t? Completely different if it’s a accessible account where you can withdraw from, but it’s not so I’m not sure what anyone gains from an online portal other than to confirm what you will already know and what a telephone call or paper statement would confirm.May I ask, did you already open one?
I did open it and funded it with 1k, which I'll leave as is. But, as already described, I feel distinctly uncomfortable to add more.0 -
Jordan72 said:I too decided not to invest with MBNA, although I had applied. After successfully applying, I tried to set up online access, only to be informed that to complete the online process I'd need to phone (how ludicrous!). I phoned and was met with a recorded message that eventually advised that phone calls weren't currently being accepted. So MBNA have lost my business. What hoops might i have to have gone through when it would mature? I dread to think. An utter waste of time.
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It's really strange to me to be honest. MBNA savings is just Lloyds Bank by yet another name and it makes you wonder why go through all the faff of setting up new pages on their website, presumably new backend systems, and some have mentioned they are working on adding savings to the app, when they could just increase the rate on the Lloyds 1 year fix?The cynical answer is of course because they don't want average joe to get those rates, the new account is firmly targeted at rate chasers who read MSE and the like and will take any amount of faff for a few extra fractions of a percent. But surely the infrastructure cost will not outweigh the amount of extra customers the account would get if it were on the Lloyds system. (And in any case isnt it kind of odd to frame it this way, it's a savings account! Surely the more people put money in it the more money they make not less. Unless you frame it as the "additional interest we take off the top and not given to average joe" which feels a bit sad to be honest.).1
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