Smartsave - 1 year fix. Any issues?

What_time_is_it

I'm considering Smartsave for a 1 year fix @ 5.28%. I was all set on going with MBNA, but I'm put off by the fact that it is telephone access only!
Is there anything I need to be aware of with Smartsave? Any issues anyone has had? Any reason why I shouldn't go with them?

Bigwheels1111

No contact number puts me off.

What_time_is_it

Good point.
I really don't like the look of MBNA or Smartsave to be honest.
Anywhere else you'd consider putting a chunk of money away for 1 year right now? Or leave it in instant access and keep an eye on the market?

MarkFromCornwall

What_time_is_it said:

Is there anything I need to be aware of with Smartsave?

Just be aware that you are only allowed to have one savings account at a time with Smartsave.

Murielson

Been looking into same thing and noted this gets posted a fair bit:   https://moneyfactscompare.co.uk/savings-accounts/1-year-fixed-rate-bonds/

Not my work but certainly some options there

Andy7856

My SmartSave fixed account has recently matured and I have had no issue what so ever with them.  Been a term account its pretty much a fix and forget account.   Opening the account was a breeze, it allowed a £1 test deposit, then gave me 14 days to credit any further monies.

I've had no reason to need to contact them throughout 12 month - so the lack of phone number was not a big issue to me as at the time I was receiving a marketing leading rate.    Approximately 3 weeks prior to the account maturing the online account gave me a number of options what to do with the maturing funds.   I selected to close the account.  The morning of the closure the full monies was credit to my nominated account by 9am.

Assuming SmartSave could offer me a further marketing leading rate and I was indeed seeking a further fixed rate account I would be very happy to have stayed.  

Personally the lack of phone number makes no difference to me.. once the money is in the account you have very little reason to communicate with them.

Gers

What_time_is_it said:

I'm considering Smartsave for a 1 year fix @ 5.28%. I was all set on going with MBNA, but I'm put off by the fact that it is telephone access only!
Is there anything I need to be aware of with Smartsave? Any issues anyone has had? Any reason why I shouldn't go with them?

I'm on my third 1 year fixed term account with Smart Save and have had no problems at all. They have communicated by email and very responsive.

Oct 2021 / 22 the interest rate was 1.34%

Oct 2022 / 23 the interest rate was 4.31%

Oct 2023 / 24 the interest rate is 5.94% 

Roger175

Both wife and I have 1 yr fixed accounts with Smartsave - very easy to deal with, no issues as far as I can see

VKE

I've a 1yr Fixed with them them ends later this year, the fustrating thing like others have mentioned is only being allowed 1 savings account

happybagger

Yes, that's my reason so far for not having an account. They tend to 'pip' the competition by 0.01% so I prefer to go with the second best, just in case smartsave do ever offer a market leading (by a long way) account, then I'd be able to open it.

If I'd have gone with them before and have the account still, I would have blocked that route.