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  • FIRST POST
    • buffman
    • By buffman 3rd Aug 18, 1:07 PM
    • 381Posts
    • 188Thanks
    buffman
    Wyelands Bank
    • #1
    • 3rd Aug 18, 1:07 PM
    Wyelands Bank 3rd Aug 18 at 1:07 PM
    Has anyone had any experience saving with Wyelands Bank?

    Thanks
Page 1
    • Shedman
    • By Shedman 3rd Aug 18, 1:48 PM
    • 230 Posts
    • 137 Thanks
    Shedman
    • #2
    • 3rd Aug 18, 1:48 PM
    • #2
    • 3rd Aug 18, 1:48 PM
    Not actually had an account with them yet but rang their Customer Services (UK based as far as I could tell) the other day as we are looking at opening an account for MiL using a power of attorney. I was impressed by knowledge and helpfulness of the staff member with whom I spoke (certainly more knowledgable of the process than some other online banks).

    I also will be interested in anyone's actual experience with opening and operating account with them.

    EDIT: Update on actual experience

    Had to send in postal application as doing the account opening under a POA. Took 13 days to get notified of account being opened which meant that had to do a CHAPS payment to get funds in on time. Not impressed - no idea why they couldn't have emailed to say Account was opened. With Secure Trust Bank on the other hand we sent application by post on Monday, received email at 11am on Tuesday to say Account was open...very impressive.

    Although application was dated and sent off during period when the 2.15% one year bond was on offer, due to their slowness in opening account that was withdrawn and we have only been given the 2.05%.

    Most infuriating of all...they dont answer the phone (or rather they answer the phone and then you're on hold for eternity and still no agent takes the call). This despite them requiring us to call to set up internet security..so no online access yet

    So not a great experience. Thank goodness it's a fixed bond and nothing needs doing for a year.
    Last edited by Shedman; 20-08-2018 at 3:53 PM.
    • Ifts
    • By Ifts 3rd Aug 18, 10:09 PM
    • 1,810 Posts
    • 1,141 Thanks
    Ifts
    • #3
    • 3rd Aug 18, 10:09 PM
    • #3
    • 3rd Aug 18, 10:09 PM
    Has anyone had any experience saving with Wyelands Bank?
    Originally posted by buffman
    Iv'e got a 2 year fixed rate bond with Wyelands Bank. All went OK with opening the account and funding it.


    I also will be interested in anyone's actual experience with opening and operating account with them.
    Originally posted by Shedman
    Opening the account was straight forward and trouble free - can't really comment on operating the account as mine is a FRB, once opened that's it until maturity.


    Here is the link to my post from 4 months ago on another Wyelands Bank thread (maybe more info there for you):

    https://forums.moneysavingexpert.com/showthread.php?p=74159668#post74159668
    Never let the perfume of the premium overpower the odour of the risk
    • trickydicky14
    • By trickydicky14 5th Aug 18, 3:59 PM
    • 173 Posts
    • 28 Thanks
    trickydicky14
    • #4
    • 5th Aug 18, 3:59 PM
    • #4
    • 5th Aug 18, 3:59 PM
    I have been attempting to open a 1year saver account all day and I just get error messages on the screen
    • lindabea
    • By lindabea 5th Aug 18, 4:21 PM
    • 1,035 Posts
    • 148 Thanks
    lindabea
    • #5
    • 5th Aug 18, 4:21 PM
    • #5
    • 5th Aug 18, 4:21 PM
    I have been attempting to open a 1year saver account all day and I just get error messages on the screen
    Originally posted by trickydicky14
    I'm also unable to get into their website. I keep getting the following msg
    This site canít be reached
    www.wyelandsbank.co.uk is currently unreachable.
    Try:

    Checking the connection
    Checking the proxy and the firewall
    ERR_SSL_VERSION_INTERFERENCE

    Looks like they may have some security issues with their site
    Before doing something... do nothing
    • Terry Towelling
    • By Terry Towelling 5th Aug 18, 4:36 PM
    • 745 Posts
    • 585 Thanks
    Terry Towelling
    • #6
    • 5th Aug 18, 4:36 PM
    • #6
    • 5th Aug 18, 4:36 PM
    Looks like they may have some security issues with their site
    Originally posted by lindabea

    Could be due to demand as the 1-year bond is a top rate just now.
    • trickydicky14
    • By trickydicky14 5th Aug 18, 9:09 PM
    • 173 Posts
    • 28 Thanks
    trickydicky14
    • #7
    • 5th Aug 18, 9:09 PM
    • #7
    • 5th Aug 18, 9:09 PM
    8pm just managed to sign up on line for a 1year saver, it took a lot of goes to get sorted but now up and running.
    • gld73
    • By gld73 9th Aug 18, 2:07 PM
    • 211 Posts
    • 123 Thanks
    gld73
    • #8
    • 9th Aug 18, 2:07 PM
    • #8
    • 9th Aug 18, 2:07 PM
    Opened an account on their website (1 yr fixed rate) last night and it all went smoothly. Fingers crossed it all goes smoothly for the next year and I get the 2.15% interest!
    • buffman
    • By buffman 9th Aug 18, 5:45 PM
    • 381 Posts
    • 188 Thanks
    buffman
    • #9
    • 9th Aug 18, 5:45 PM
    • #9
    • 9th Aug 18, 5:45 PM
    So far, so good.

    Opened a one year bond last week and successfully funded it yesterday. Received my information pack in the post and have been able to set up online banking. My deposit was visible online by the end of the day that it was sent. Also their customer service department has been very helpful in answering my questions.

    Everything has run very smoothly though I will only know for sure when it is time to withdraw my funds.
    • 2010
    • By 2010 10th Aug 18, 7:00 AM
    • 4,221 Posts
    • 3,356 Thanks
    2010
    It might be wise to hold opening until the 1st Sept to see what rates are available after the BoE increase.
    Providers have said nothing will happen until then.
    • FatherAbraham
    • By FatherAbraham 10th Aug 18, 7:13 AM
    • 914 Posts
    • 680 Thanks
    FatherAbraham
    Has anyone had any experience saving with Wyelands Bank?

    Thanks
    Originally posted by buffman
    The important problems with financial institutions occur when depositors want their money back, not when opening accounts or calling the customer-service help desk.
    • buffman
    • By buffman 10th Aug 18, 8:11 AM
    • 381 Posts
    • 188 Thanks
    buffman
    The important problems with financial institutions occur when depositors want their money back, not when opening accounts or calling the customer-service help desk.
    Originally posted by FatherAbraham
    Indeed. That is why it is imperative to only put money with financial institutions covered by the Financial Services Compensation Scheme and not to go above the £85,000 (or £170,000 for joint accounts) protection limit.
    • Patr100
    • By Patr100 14th Aug 18, 12:10 PM
    • 1,356 Posts
    • 570 Thanks
    Patr100
    Question about their fixed rate savings eg one year =they say
    You can choose to have your interest paid monthly or at maturity.
    Obviously withdrawals are not permitted but if interest is calculated daily, if you close the account early before the fixed term do you lose all the interest paid at that point?
    ---I Shop Therefore I Am ---
    • eskbanker
    • By eskbanker 14th Aug 18, 12:33 PM
    • 8,704 Posts
    • 9,932 Thanks
    eskbanker
    Question about their fixed rate savings eg one year =they say
    You can choose to have your interest paid monthly or at maturity.
    Obviously withdrawals are not permitted but if interest is calculated daily, if you close the account early before the fixed term do you lose all the interest paid at that point?
    Originally posted by Patr100
    It looks to me like the issue is moot, in that you can't close it early, unless you're seeing something that suggests you can?
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