MBNA 1 year fixed rate savings account

Steve_xx · 8 June at 5:04PM

https://forums.moneysavingexpert.com/discussion/comment/82027700#Comment_82027700

I can understand how you feel about MBNA bank. However, they are a part of Lloyds.

In march 2024 I took out a one year fix with them. I opened it with 1k, with the intention of adding some more. But I felt jittery for the reasons that you've mentioned above and so I decided not to add any further funds. I left the 1k in there for the year maturing in march 2025 at which point I received funds plus interest. There was absolutely no problem and I wouldn't mind putting money there again.

mills112 · 8 June at 5:39PM

https://forums.moneysavingexpert.com/discussion/comment/82027700#Comment_82027700

they are legit but they are very basic. see the thread here below. you get issues when it comes to maturity as you just have to wait for them to put it into a holding account before you can take it out as they can't accept maturity instructions. this is my experience with the co-op bank as well when it comes to maturity.

https://forums.moneysavingexpert.com/discussion/6652522/mbna-problem/p2

nbrewitt · 11 June at 9:54AM

I have had a one year bond in the past with this bank with no issues but it does seem quite old fashioned to only have phone banking as an option and it's the main reason that I've not opened another although their rates are competitive.

DjangoUnchained · 11 June at 11:53AM

I signed up for it before realizing it was phone only ( my fault for not noticing ) but i only sent a £1 to test it out, but as it took nearly a week to get any acknowledgment of the 31 deposit Ive given it a big miss. I'll leave my £1 in so i can look forward to recieveng £1.05 in a years time lol.