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Monument: Savings reviews

Name: Savings
Rating: 4.57 (94 reviews)

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4.29

Based on 94 reviews, last reviewed 9th Sep 2024

100% decrease in 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

77%

14%

Latest highest rating:

5

Top Marks In All Areas Deposits and withdrawals really are instant with no delay like other so called 'instant access' accounts I've used. A great app too and favourable rat... Read more Reviewed on: 23rd August 2024

Latest lowest rating:

1

STAY AWAY Would not recommend anyone who are thinking to move their money into monument savings because of their interest rates. I have a large sum of cash whi... Read more Reviewed on: 9th September 2024

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About this product

You can save between £25,000 and £2,000,000 with Monument.

Choose from fixed term deposits, notice accounts and easy access savings. Monument savings accounts can be opened and managed through the mobile app. If you need help, you can speak to the UK-based team instantly in the app or via the phone.

Monument savings account reviews help you find out what it’s really like to be a customer. If you’ve used Monument before, you can also leave a review and share your experience.

Monument Savings reviews (94)

Review of the Monument, Savings:

I am unsure about his App.

I am unsure about his App. I opened a 45-day notice account and all went well- easy to set up and use the App. However, on trying to withdraw my money I noticed there is no option/button to close the account nor nothing telling me what the daily interest is/ has be earnt. So, I could only draw out the Balance amount displayed minus the interest which stays in the account after the withdrawal? -according to a chat session. As I thought this was rather silly, I changed my interest payments from compounded to being paid into my linked account. This didn’t happen and the interest has stayed in my account. On using the chat facility again, I was told there is a technical glitch and I would have to wait 48hrs to get my money. Not impressed. The other idea of not having a log out button is plain daft- The reason is safety/security so you can’t remain logged in? All decent apps allow you to log out and then automatically log you out anyway after a period of inactivity – some of which you can set to a particular timer i.e. 2mins, 5mins etc. This App is just LAZY. This App needs a CLOSING ACCOUNT button and a LOG OUT button – it also needs to FUNCTION properly. If I have got to ring/chat to you every time I needed to do something with my money then what's the point of an App at all? Is the App working for Monument or Monument working for the App? Reviewed on: 2nd May 2024

STAY AWAY

Would not recommend anyone who are thinking to move their money into monument savings because of their interest rates. I have a large sum of cash which I now need access too and they’re refusing to transfer my money back to my own personal account with no reason. They’ve held my money for months with no issues and the minute I want access to my money they’ve blocked me on the app They’ve cut all communication with me and managers are refusing to speak to me. The staff are rude and ignorant. I have the right to know what is going on with my money! Emailed the CEO Ian Rand and the board directors to ask for some help and no response from them. Sent many emails over the few weeks and still not heard a response. Reported them to FCA and financial ombudsman and will be taking legal action against them. Would never bank with them again. Awful experience. Reviewed on: 9th September 2024

Reply from Monument Hello, Azam; thank you for taking the time to leave a review. As communicated by our team to you, we have regulatory obligations that we must abide by and cannot discuss cases like this on a public forum for confidentiality reasons. Unfortunately, cases like this are outside our control. If you have any queries, please get in touch with us, and thank you for banking with Monument. Response date: 31st October 2024

Top Marks In All Areas

Deposits and withdrawals really are instant with no delay like other so called 'instant access' accounts I've used. A great app too and favourable rates of interest make Monument a top provider in my opinion. Reviewed on: 23rd August 2024

Cracking interest rates on savings!

Cracking interest rates on savings! Easy application process. The app is very straightforward to use. Transfers/transactions occur without delay and notifications are sent by text and email to keep you well-informed. Reviewed on: 11th August 2024

It’s ok until things go wrong!

For the last year this bank has been great, however I made a silly mistake today and transferred into the 35day access fund instead of my instant access fund. It was using my Barclays Bank and saved account details. I instantly contacted Monument and informed them of my error, they basically said TOUGH LUCK and are holding my funds for 35 days. Unfortunately for me these were my self assessment tax funds and I won’t be able to access them in time so it’s a costly mistake on my part. I would normally have other funds available but we have some property transactions this month making funds transfer more complicated than usual. I have encouraged friends and family to bank with Monument but I’ll be telling them how wrong I was. I’ll be closing my accounts and my parents this week, I’ll obviously have to wait 35 days to close mine… and that can’t come soon enough. If you make an error DO NOT expect to be treated like a human being by this bank, they have a computer says no mentality. Reviewed on: 3rd July 2024

Exellent

It was incredibly easy to set up a savings account. Everything was very clear. The website and App are excellent and easy to use. They keep one informed quickly and in a very clear manner. All in all an excellent experience. Reviewed on: 24th May 2024

App is useless.

Downloaded app told all was OK. App didn't work. Emailed Monument who responded quite quickly. The app then worked. The following day I went to make my initial deposit, the app wouldn't work. I've seen some good reviews for Monument, but from my experience they are hopeless. Reviewed on: 1st May 2024

Great savings interest

Nice and simple to set up and use as well as offering some of the best interest rates out there at the moment. Reviewed on: 18th March 2024

High interest, and good service.

High interest, and good service. Easy to use Reviewed on: 15th February 2024

They're not quite ready yet

Hi, this is a relatively new bank, they're not yet listed on the bank of England's fcs list, and bear with them as they won't reply to requests for information and the chat function on the app is still having glitches. I test opened a savings account yesterday, and did call up the assistant there for information but he was still not able to provide support or info about fcs. It's best to wait a little to see if things improve next year Reviewed on: 7th November 2023

Wait! We are experiencing an extremely high volume of customers :)

I was waiting for their reply for around 10 days, but the bank kept saying: 'Sorry! We are experiencing an extremely high volume of customers' Reviewed on: 4th April 2023

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