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Charter Savings Bank Reviews

Ratings based on 30 reviews Last review 5 days ago
2.27 / 5Average overall rating

Charter Savings Bank - launched in 2015 and provide savings account to UK residents form their HQ in Wolverhampton. If you're wondering whether to save your money with Charter Bank, read our community reviews to see what people like you have to say...

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Charter Savings Bank - launched in 2015 and provide savings account to UK residents form their HQ in Wolverhampton. If you're wondering whether to save your money with Charter Bank, read our community reviews to see what people like you have to say about the company. Already have your savings with Charter Bank? Leave a review of your own and help others decide whether Charter is the right place for their money. At Smart Money People, with your help, we're changing financial services for the better.

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Your Charter Savings Bank Reviews (30)

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17th September 2017

Bad maturity experience

I fell in to the trap of pre-selecting a maturity option several weeks before the maturity...

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I fell in to the trap of pre-selecting a maturity option several weeks before the maturity date.
I was then caught out by a rate rise in the selected bond 3 days before the maturity date.
Guess what, I now have the matured bond reinvested in the older lower rate, and the bank say that is fine as I indicated that I wanted to invest in a 2 Year fixed rate, so I have the rate at the date I indicated my re-investement options. But I should not expect a rate rise to be applied to my new fixed rate account that was not opened until 3 days after they increased there rate.
I should have ignored their maturity options and opened a 2 year bond a few days before maturity at the old rate, then after maturity check the current tare and if it is better, open a second bond at the higher rate and manually transfer the matured funds into the higher rate account.
So it is all my fault!!!

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28th July 2017

Harsh treatment

I invested some money with this bank, unfortunately I made a very stupid mistake, I signed up for a 95 day notice account completely misunderstanding and thinking it meant I would lose 95 days interest . I tried to buy a house , signed the contract...

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I invested some money with this bank, unfortunately I made a very stupid mistake, I signed up for a 95 day notice account completely misunderstanding and thinking it meant I would lose 95 days interest . I tried to buy a house , signed the contract and then when I tried to withdraw the money I found out I cannot have the funds for three months. Eventually I was told if I could get a letter from my solicitor confirming my situation it would go to senior management for a decision. After 5 very stressful days of waiting I received a phone call telling me that the senior management team have decided that the terms and conditions are very clear. I had already offered to pay back all of the interest I have received which to my mind isn't such a bad deal for them - they've had my money for 7 months get any interest back, it's not like they are the losers. However they prefer to be rigid which will mean I lose the house, still have to pay solicitors fees - thanks for nothing Charter Bank I'll make sure to spread this experience far and wide.

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15th March 2017

POA shambles

Tried to open a POA account for my mother. Having opened my account with my cheque, Charter Bank wanted an additional proof of address document, which I duly sent. I didn't use Recorded Delivery as it takes 20 minutes queuing at the Post Office. A...

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Tried to open a POA account for my mother. Having opened my account with my cheque, Charter Bank wanted an additional proof of address document, which I duly sent. I didn't use Recorded Delivery as it takes 20 minutes queuing at the Post Office. A week later, without warning, the bank returned my opening deposit. On phoning, they told me they hadn't received the identification document. Then they said they HAD just received it, but too late to keep the account open. "Just received it"? A likely story! I am asking for compensation for loss of interest. We'll see.

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15th January 2017

Fixed rate bond

I have had two fixed rate bonds which i opened in the last six months with Charter saving bank . Great online service and the second account took just took a few minutes to open . Interest is paid monthly on time into my nominated account . To date...

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I have had two fixed rate bonds which i opened in the last six months with Charter saving bank . Great online service and the second account took just took a few minutes to open . Interest is paid monthly on time into my nominated account . To date very pleased with my investment .

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30th November 2016

Reduced interest rate without notice, but still require notice for closure of account

In August, Charter reduced the rate on its 120 day notice account with retrospective effect (the due before communication). This is in contrast with other "challenger" banks and other organisations with whom I have notice accounts. These...

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In August, Charter reduced the rate on its 120 day notice account with retrospective effect (the due before communication). This is in contrast with other "challenger" banks and other organisations with whom I have notice accounts. These organisations either gave advance notice of the reduction in rate corresponding to the notice period of the account OR allowed a short period during which the account may be closed (but not partial withdrawals made) if the change in interest rate was unacceptable. But Charter savings did not do this and refuse to budge on this.

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19th November 2016

Excellent Bank - good service - best rates

I have always found personnel within Charter Bank to be friendly, efficient, knowledgeable and helpful. No matter who I have spoken to my query/problem has been dealt with immediately and with no hassle. The rates they have offered over the past...

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I have always found personnel within Charter Bank to be friendly, efficient, knowledgeable and helpful. No matter who I have spoken to my query/problem has been dealt with immediately and with no hassle. The rates they have offered over the past couple of years have been very competitive during these hard times for Banks and I would highly recommend this Bank to other savers.

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19th November 2016

So far very good

Recently opened a one year bond. Easy to do on line and user friendly. Good comminication and fast service. Paperwork sent very quickly by post and text messages at every stage to keep me informed of progress. No problems so far. Yes most of the...

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Recently opened a one year bond. Easy to do on line and user friendly. Good comminication and fast service. Paperwork sent very quickly by post and text messages at every stage to keep me informed of progress. No problems so far. Yes most of the communication is undertaken online but this is the way things seem to happen these days. Maybe the company has listened to customer complaints and addressed them. I would recommend this company.

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19th November 2016

Excellent Bank - amazing, efficient staff - superb for savings.

Hopefully, you can still see my earlier comments about this Bank. However, to re-iterate what I said earlier. I have found Charter Bank to be amazing. Very proficient, helpful and easy to deal with. Every member of staff that I have ever spoken to...

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Hopefully, you can still see my earlier comments about this Bank. However, to re-iterate what I said earlier. I have found Charter Bank to be amazing. Very proficient, helpful and easy to deal with. Every member of staff that I have ever spoken to has been polite, friendly and knoledgeable and an asset to their organisation. From my personal experience, I cannot rate them higher and will continue to use them for my Savings. Rates are good, competitive for the market - paperwork amazing. I also find the on-line banking/savings to be easy to operate. EXCELLENT ALL ROUND - i cannot understand the negative comments.

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6th November 2016

Good interest rates, great customer service

I wanted to know how to transfer the balance from a matured account into a new one. The agent who took my call was polite, easy to understand and gave clear instructions. What's more, my call was answered within seconds with no irritating music or...

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I wanted to know how to transfer the balance from a matured account into a new one. The agent who took my call was polite, easy to understand and gave clear instructions. What's more, my call was answered within seconds with no irritating music or "Your call is important to us" messages. Great that you can even call on a Sunday. Charter Savings Bank have very competitive interest rates and I have had excellent service from them over the last year or so. Can't understand some of the other negative reviews.

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6th October 2016

Trying to open POA savings bond - unsuccessful.

Sent all information to open a POA savings bond for my mother did not hear nothing by email, phone or post. After me having to contact to get the news that the solicitors on the POA could not be identified and was going to returned to me. Reason been...

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Sent all information to open a POA savings bond for my mother did not hear nothing by email, phone or post. After me having to contact to get the news that the solicitors on the POA could not be identified and was going to returned to me. Reason been that the solicitors had recently moved and old address was shown plus the solicitors representative had married and was showing her maiden name. My question was why could they not look on Internet to clarify the situation but apparently this was not possible or even they could have confirmed this with a phone call to the solicitor but no this was not possible. Hence I asked for the funds to be withdrawn and I went elsewhere which I did with no problems. I was discussed with the lack of customer service and assistance for I am only trying to help my aging mother.

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6th October 2016

Had Brilliant Service..Sympathetic Staff (GILL)

Had a huge Family Crisis. Needed to cash my Bond immediately, only got 1yr Bond Aug'2016..Applied to withdraw Sept; Spoke to GILL at customer service, she was so V. Kind & did all she could to help & Management came up Trumps on 2 occasions & got...

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Had a huge Family Crisis. Needed to cash my Bond immediately, only got 1yr Bond Aug'2016..Applied to withdraw Sept; Spoke to GILL at customer service, she was so V. Kind & did all she could to help & Management came up Trumps on 2 occasions & got everything sorted for me as quickly as possible. I really can't fault them, they went the extra mile for me. So a big thank you Charter Bank. Mrs Lee

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9th September 2016

Untrustworthy and incompetent customer service

Interest rate on 120 day account cut without any notice on 22nd August, but no option to close account without 120 day notice. Customer services say that account can be closed within 30 days of notification of rate reduction, but then go back on this...

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Interest rate on 120 day account cut without any notice on 22nd August, but no option to close account without 120 day notice. Customer services say that account can be closed within 30 days of notification of rate reduction, but then go back on this arguing that it was not a material reduction in interest rate. These people must be desperate to traeat their customers with such contempt, so surely they cannot remain in business too much longer.

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30th August 2016

So far so good

I started saving with Charter Savings Bank in early 2015, as I wanted to save some money with a different provider (to spread risk) and be able to do so online. It was straightforward to open up the account online (with clear and simple guidance...

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I started saving with Charter Savings Bank in early 2015, as I wanted to save some money with a different provider (to spread risk) and be able to do so online. It was straightforward to open up the account online (with clear and simple guidance provided). since then I have opened a 95-day notice account and two 1-year fixed-rate bonds as the rates offered were competitive. I have recently transferred one of the fixed-rate bonds to another one as Charter's rates remained competitive. No problems with setting-up, monitoring and accessing accounts online. As with all financial products it's essential to monitor rates being offered and change to better providers as and when appropriate. I haven't had reason yet to call Charter Savings Bank by phone, so can't comment on telephone service. As a good telephone service is essential when needed (to resolves issues etc.) - poor telephone servive will be a deal breaker - I give Charter 4/5 stars for overall rating. So overall, so far so good.

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23rd August 2016

Cannot be trusted

Received an e-mail from Charter saying that the interest rate on my 60 day notice account had been reduced with immediate effect. No opportunity to withdraw my savings without penalty and no notice period so I am out of pocket. Gave notice to close my...

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Received an e-mail from Charter saying that the interest rate on my 60 day notice account had been reduced with immediate effect. No opportunity to withdraw my savings without penalty and no notice period so I am out of pocket. Gave notice to close my account as I cannot do business with a bank that would do this.

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11th August 2016

Appalling service

I phoned on July 18th regarding my 12 month bond that was due to expire on the 21st, I was advised that if I let the money transfer to a savings account and then transfer it to a new bond on the 22nd I could get 1.79% instead of the previous 1.66%, ...

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I phoned on July 18th regarding my 12 month bond that was due to expire on the 21st, I was advised that if I let the money transfer to a savings account and then transfer it to a new bond on the 22nd I could get 1.79% instead of the previous 1.66%, when I tried I was informed that that offer had ended! I explained the advice I had been given and an enquiry was set up, I was told I would receive a phone call within 3 working days with the outcome, after 4 days and no response I phoned again, was told the enquiry would now take longer, I received a letter on August 8th saying the enquiry found against me, seriously not happy but there wasn't much I could do about it, I said I would transfer my money to a new bond offering the original 1.66% only to be informed that there were no more bonds available!!! My money is now in a 95 day notice account which pays 1.36%. APPALLING CUSTOMER CARE

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21st July 2016

Disturbing standard of Customer Service and techical support for porducts

Although Charter Savings Bank offer very competitive interest rates, they are severely let down by extremely poor customer service. Despite using the correct log in credentials, I was locked out of my online account and then tried to contact the bank...

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Although Charter Savings Bank offer very competitive interest rates, they are severely let down by extremely poor customer service. Despite using the correct log in credentials, I was locked out of my online account and then tried to contact the bank several times via telephone but have failed due to waiting times of over 5 minutes each time to speak to a person. This is extremely concerning given that the Bank manage funds of the public.

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11th July 2016

terrible experience

Had to keep changing (unsatisfactory?) passwords when trying to open a Bond online and then offline when I became frustrated with the whole login process, plus employee became slightly cross with my lack (to her) of tech ability. Not a user friendly...

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Had to keep changing (unsatisfactory?) passwords when trying to open a Bond online and then offline when I became frustrated with the whole login process, plus employee became slightly cross with my lack (to her) of tech ability. Not a user friendly experience or one I would want to repeat.

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4th July 2016

Good rates but slow transactions.

Charter has good products, but the main complaint I have is that they use BACS for payments instead of Faster Payments. This means that if you action a withdrawal on a Friday, you will receive the funds on Tuesday, instead of immediately with the...

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Charter has good products, but the main complaint I have is that they use BACS for payments instead of Faster Payments. This means that if you action a withdrawal on a Friday, you will receive the funds on Tuesday, instead of immediately with the Faster Payments system used by other banks. If a Bank Holiday intervenes you can wait 5 or even 6 days. If you want to transfer from one Charter account to another (on a Thursday or Friday) you must wait 4, 5 or 6 days and then send the money back to Charter. By that time another weekend may have intervened.

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