How reliable is Kent Reliance BS - looking for existing customer to reassure me!

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135

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  • DotMatrix
    DotMatrix Posts: 79 Forumite
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    innovate wrote: »
    Probably. Depends on the terms of your account.

    I am a bit baffled that you deposited £10K into somewhere without having familiarised yourself with the T&Cs first. Seems you are lucky you met KRBS rather than some scamsters.

    Reading instructions isn't my strong point I'm afraid. ;)
  • Wilkins
    Wilkins Posts: 444 Forumite
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    Their FAQ does say that they are intending to expand the online functionality. However, I have seen no change over six months and under the balance figure it says:

    "Some text goes here if we want to add additional info "

    Not very professional! Looks like a student project which ran out of time.
  • cobaw
    cobaw Posts: 1 Newbie
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    I invested £4K in a 2yr Bond, July 2014. I registered for Online Banking but have had a deal of trouble with their Customer Service. Uneasy about this, I found these threads on Kent Alliance and this has not reassured me at all.
  • kidmugsy
    kidmugsy Posts: 12,709 Forumite
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    Our dealings with them have all been fine, but it's the tales of bad experiences that really matter.
    Free the dunston one next time too.
  • colsten
    colsten Posts: 17,597 Forumite
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    I have held various accounts with them over the years, mainly their regular savers which are excellent. Their online setup is a bit wanting but the branch and phone service is very good in my experience.
  • xylophone
    xylophone Posts: 44,413 Forumite
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    I've had (and still have) an account with them - on line not so hot, but happy with the products.
  • beaniebengal
    beaniebengal Posts: 4 Newbie
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    I would not recommend them, based on my experience of opening an account with them they seem to be very disorganised. I applied online for an account over 3 weeks ago, and so began a back and forth of emails and letters and phonecalls to India. First they said they could not verify my identity by online checks - that has never happened before, and when I challenged it they said they had made another check and it was fine. Then they were not happy with the proof of address I sent them, because of a 1 character difference between two utility bills, but then later they said they were satisfied and I would not need to send any more paperwork. They then opened the account, and sent me one-time-only details to pay in the initial amount, which I did the same day, but I received a chasing email several days later, which made me wonder where my money had gone. They had promised they would send me details of the account so I could pay more money in, but this didn't arrive. I chased by email and didn't get any reply. Then today I got another letter asking for more paperwork to verify my address. I rang India again, but I could not find out why we were suddenly back at the beginning of the process. At that point I realised I had completely lost confidence in them, so I asked them to close the account and send the money back.
  • FB13
    FB13 Posts: 153 Forumite
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    jimjames wrote: »
    All true. I'd pointed out at the time of the vote that the likely outcome would be that there would be no mutual ownership once the private equity kicked in. Was told by Chief Exec that I was scaremongering but that is what has happened - actual % of KRBS owned by members is well below that owned by JC Flowers and may even be as low as 10% now with JC Flowers (Private equity) owning the other 90%.

    A mutual? Maybe in name but not in reality.

    If you read their latest accounts, the percentage owned by the "members" is now down to 0.31%. JC Flowers owns the other 99.7%
  • Speculator
    Speculator Posts: 2,225 Forumite
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    edited 9 October 2014 at 10:20AM
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    My ISA matured on 1/10 and I returned the maturity instruction 2 weeks before maturity. I wanted to close the ISA and transfer the funds to my current a/c. Checked on 3/10 and funds still not received so called the Indian call centre.

    She said they did not receive my instruction and it has been transferred to an easy ISA. On Friday, I sent off two separate letters 1st Class to close my account by BACs transfer. Checked today and still nothing.

    Just lucky the amount is only £160 and not £16K!
  • FLAPJACK
    FLAPJACK Posts: 524 Forumite
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    Wish I had seen this thread earlier!


    Today I went online and opened a 1 year fixed rate bond with KRBS, like other posters I was rather concerned that there seemed a lack of online security...I only had to make up a password.


    Then as mentioned I was asked if I wanted to deposit a sum...this is before I had been given an account number. On the confirmation email it says that if I don't deposit a sum within the next 7 days then the account will be closed. Because of this I called them to ask how can I see my account with them without any login details (in order to see the sum deposited in the account) I was told that this information will be posted within 5 days and that I can call to see if the money has arrived before then!


    I felt uneasy about this and even more so now after reading other peoples views on KRBS system.


    I realise that I only have to sit out the 7 days and the account will be closed.
    What worries me now it that I used my bank account details as my nominated account for the interest to be paid into on maturity. Can KRBS take money from my account? I know it's a silly question but would like to see if I am being paranoid about this.


    Thanks
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