MSE News: New sharia account offers 1.6% easy-access savings - but should you get it?
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I applied, opened and funded the account at the weekend.
On line password arrived but not ID - rang to enquire and ID provided by phone - was able to log in, change details, see initial deposit - all fine.
An easy and efficient process.
Did your online password arrive separately, or with the Welcome pack? Might have missed it in the bumpf I got.
I have received a telephone banking PIN, so I can try that.Retired 1st July 2021.
This is not investment advice.
Your money may go "down and up and down and up and down and up and down ... down and up and down and up and down and up and down ... I got all tricked up and came up to this thing, lookin' so fire hot, a twenty out of ten..."0 -
quirkydeptless wrote: »Did your online password arrive separately, or with the Welcome pack? Might have missed it in the bumpf I got.
I have received a telephone banking PIN, so I can try that.0 -
Online password arrives separately from welcome pack
Password arrived Today
Assalamu AlaikumRetired 1st July 2021.
This is not investment advice.
Your money may go "down and up and down and up and down and up and down ... down and up and down and up and down and up and down ... I got all tricked up and came up to this thing, lookin' so fire hot, a twenty out of ten..."0 -
I've received the telephone banking PIN. I'll see what tomorrow's post brings.
I can't see it written anywhere if there is a time limit to making the £500 deposit, anyone know? I guess they'll close the account if not funded...but when?How's it going, AKA, Nutwatch? - 12 month spends to date = 2.31% of current retirement "pot" (as at end March 2024)0 -
I've received the telephone banking PIN. I'll see what tomorrow's post brings.
I can't see it written anywhere if there is a time limit to making the £500 deposit, anyone know? I guess they'll close the account if not funded...but when?
On that basis I immediately funded both accounts with £500 each just to be on the safe side.
Received the telephone PIN’s this morning by post but no info as yet regarding internet login details etc.0 -
Received my User ID Today, so Welcome Pack, Telephone PIN, User ID and password arrived in 4 different letters, in different posts, I expect for security :money:
I transferred the £500 on the day I opened the account. I've just transferred in more from my Marcus account.
So with BLME (via HL active savings) and Wahed (investment account), this makes my third Sharia account opened now, all this year!
Assalamu alaikumRetired 1st July 2021.
This is not investment advice.
Your money may go "down and up and down and up and down and up and down ... down and up and down and up and down and up and down ... I got all tricked up and came up to this thing, lookin' so fire hot, a twenty out of ten..."0 -
On line ID arrived today. 2 letters down, 2 to go!!How's it going, AKA, Nutwatch? - 12 month spends to date = 2.31% of current retirement "pot" (as at end March 2024)0
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On line password received. Logged on, money deposited, all ok!
I have searched the T&C's for the words, minimum and within and nothing relating to a minimum deposit or balance seems to be included, strange.
Can we presume there is no minimum operating balance?
Their notice accounts do specifically mention deposit within 14 days...but I can't see anything remotely similar in respect of the everyday saver.
Anyone else agree?? Or have I missed it? (It had been known!!)How's it going, AKA, Nutwatch? - 12 month spends to date = 2.31% of current retirement "pot" (as at end March 2024)0 -
How is the interest paid compared with a normal instant access account?
eg is the 'expected profit' added daily?
if you withdrew money after say 2 days would you get your money back.plus 2 days of 'expected profit'?0 -
How is the interest paid compared with a normal instant access account?
eg is the 'expected profit' added daily?
if you withdrew money after say 2 days would you get your money back.plus 2 days of 'expected profit'?
Hmmm, that seems a bit woolly too.
It would appear "profit" is calculated on the last working day of the month, based on the calculation period of calendar month. So average balance for the month??
Anyone?How's it going, AKA, Nutwatch? - 12 month spends to date = 2.31% of current retirement "pot" (as at end March 2024)0
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