Kent Reliance rant

littlemoney

Kent reliance are in the midst of setting up a new IT platform but have released the new system without full functionality or integration of existing data. Previously I could transfer money from easy access account to new bonds.

Now bonds are on the new platform, with separate login but existing accounts on the old. To transfer money I have to withdraw funds from an easy easy account to my linked bank account and then transfer the funds from my bank account to the bond on the new platform. Crazy.

They seem to have prematurely implemented a new partial working system expecting existing customer to do the joining up for them.

Hoenir

littlemoney said:

Now bonds are on the new platform, with separate login but existing accounts on the old. To transfer money I have to withdraw funds from an easy easy account to my linked bank account and then transfer the funds from my bank account to the bond on the new platform. Crazy.

Transferring legacy data is unlikely to be financially economic. Far easier to let the old bond book naturally run-off. Only a % will remain with Kent Reliance by investing in a new bond. 

x44

All the easy access accounts are still on the old system and indeed it seems you can still apply for easy access and notice accounts on the old system.

It's just the new bonds which at the moment are now on the new system.

So there is next to no chance that the old system will ever be naturally run off and they will have to bite the bullet and move the whole lot over.

Incidentally the Charities bank CAF are going though this exact same process and moving everyone en-masse over to the new system in early June with new usernames and password for all with the hope that after that weekend of transfer it all works smoothly and does not go like the infamous TSB upgrade went!

mebu60

My main rant against Kent Reliance is their seeming inability to process payments the day they are sent.

Dispersing Chetwood funds yesterday around midday to four institutions, all ones who bank through another entity, Kent were the only ones who failed to show the received funds. So that will be Monday now. Though usually shown credited as date of original receipt doesn't make their poor processes any less annoying.