Monument Easy Access 5.11%

j_netprofit

Can't see any threads about this account? Anyone have one?

Saw this comment in the top easy access thread but no further discussion on it...

"Have tried opening Cynergy and Monument. Both a disaster! App this, scan that, SMS coming, activate here .... (20 x with Cyn. ) Gave up. No thanks"

What interests (no pun intended) me other than the rate is the unlimited withdrawals, sounds like a winner

friolento

It's a niche account as it is unlikely that too many people would be able to keep the minimum £25k balance.

What_time_is_it

I'm thinking of applying for it. Sounds great, apart from the £25k minimum. But the easy access nature of it is appealing.

friolento

I don't like that they don't publish their T&Cs online. There is only rudimentary info like "If we change the rate, we’ll let you know by emailing you". What is their notice period?

j_netprofit

friolento said:

I don't like that they don't publish their T&Cs online. There is only rudimentary info like "If we change the rate, we’ll let you know by emailing you". What is their notice period?

To be fair that’s what Chip do, and for the last year it’s been like a red letter day. I think I got three if not four emails letting me know the rate was increasing. 

Recently dropped but still decent, however imminently moving all that money over into this monument account now.  

TheWoodler

Re Monument: You can find their General and account-specific Ts&Cs both online and in-app with links to the relevant documents, which are far from rudimentary. As I’d expect of any online or app-based bank. 

Malchester

Have this account and found it easy to use. Deposits are instant but not withdrawn anything yet so don't know what they are like

j_netprofit

Just applied, was straight forward but now need to wait two business days to set up. 

friolento

TheWoodler said:

Re Monument: You can find their General and account-specific Ts&Cs both online and in-app with links to the relevant documents, which are far from rudimentary. As I’d expect of any online or app-based bank. 

Could you post a link please to the easy access saver T&Cs - I could not find them online. TIA

j_netprofit

https://assets.website-files.com/6435124ea79f72c265f72807/64be60de089aca267084a118_Monument Easy Access Terms M506_06_2307.pdf

TheWoodler

Go to Easy Access Savings https://www.monument.co/savings/easy-access-savings - scroll down the page, below the FAQs, which is where you found your ‘rudimentary’ interest statement, to the Summary Box, and the links to both the EA and the General Ts&Cs are in that Summary Box first paragraph. 

Both links take you to Legal, and both documents can be downloaded from either link. In-app the links directly open the respective documents. Both are in line with the FCA Banking: Conduct of Business Sourcebook 2 Annex 1 note 4 (form of summary box and relationship to Ts&Cs). https://www.handbook.fca.org.uk/handbook/BCOBS/2/Annex1.html