RCI bank experiences

dont_use_vistaprint

I set up the 4.6% saver a few days ago I couldn’t make any deposits until the code came in the post. This came yesterday and I have set it up now.

I’m not too comfortable with  process from making a deposit, you do not name yourself as the payee and you have to use a very long code as a ref that cannot be pasted. 

I did a test transaction a few hours ago of £10 and nothing shown yet but the money has left my account.

it’s not a great start the process so far doesn’t give me much confidence.

anybody using this ? 

Runner_Duck

I've used RCI Bank for a number of years and it has always been fine.  I don't think I've ever checked how many hours a deposit takes to appear, I believe they use a third party for customer deposits so maybe that takes a little longer?

Ayr_Rage

Stop stressing!

I have used several institutions where you use their main account and have to set them up as a business payee and use a reference to identify your own account.

In every case although it goes to them as a Faster Payment it takes a while for them to credit it to your personal account.

Is your £10 above the minimum funding requirement for that account, most seem to be £100.

Edit : What account is paying 4.6%, cannot see any at that rate now.

slinger2

The 95 day account pays 4.60% gross when you go for the monthly interest option

Ayr_Rage

slinger2 said:

The 95 day account pays 4.60% gross when you go for the monthly interest option

Apologies, missed that, but it also looks like @dont_use_vistaprint has missed the minimum funding requirement of £1000 and only sent a tenner.

Zaul22

This is totally standard.

dont_use_vistaprint

Ayr_Rage said:

slinger2 said:

The 95 day account pays 4.60% gross when you go for the monthly interest option

Apologies, missed that, but it also looks like @dont_use_vistaprint has missed the minimum funding requirement of £1000 and only sent a tenner.

Yep, they emailed they will return it needs to be £1000 min. Well the payee details worked anyway ;-)