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Charter Savings Bank: Fixed Rate Bond reviews

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2.90
Based on 62 reviews, last reviewed 15th Mar 2024
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53%

Latest highest rating:

5

splendid experiences several accounts over the years, all dealt with promptly and with due communication. Very competitive rates Reviewed on: 15th March 2024
George Walton's avatar
George Walton

Latest lowest rating:

1

CharterSavings bank unprofessional and inflexible. CharterSavings bank have £50k of mine in a recent Isa. I instructed them to add my remaining £2.5K from an old provider within their 30 days limit to ... Read more Reviewed on: 29th January 2024
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Fiona M
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About this product

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Charter Savings Bank Fixed Rate Bond reviews (62)

Very BAD first impressions

1
It appears the only good thing about CSB is their competitive interest rates. That is, if you can manage to open an account with them in the first place. The application process on their website is very cumbersome and full of glitches, at every step. Ridiculously, they ask for 3 security questions but limit the answers to strictly no spaces and a certain number of characters. Makes no sense if your answers require two words or more. But the frustration doesn't end there. In my case, their system wouldn't recognise my nominated current account (odd, given that another Saver I opened with a different bank recently had no troubles at all), but to add insult to injury, they then demand you post (signed delivery) bank statements to their office as evidence. As it happens, my current account is a digital bank and they don't post out paper statements. I mean, come on, it is the 21st century is it not? I find it somewhat hypocritical that CSB (an online bank, no less) insists on such dated procedures. I thought I was opening an account with a modern, digitally-friendly bank. But, clearly not. According to their paperwork, they respond to queries via email within 2 working days. Well, they don't respond within this timeframe as I discovered, and I'm not waiting around to find out if they can be bothered to assist later. First impressions are everything. They can forget my application now. Best depositing cash with a more reliable and efficient bank! Charter Savings clearly have a long way to go before they're up to the standards of other digital/online banks. In the meantime, I'd recommend AVOIDING. Don't be tempted by their interest rates – you'll regret it. Reviewed on: 27th June 2023
Lucas's avatar
Lucas

Could they make it more difficult to open a new account

1
On a smart phone the website was also hard to get through. Having to read docs then close them to get a tick. Loosing all my application to have to restart numerous times. Then it’s choice of password questions didn’t like my answer as they were too short. Why ask, best friend, nickname or football team if the answers are to short to have to make them longer. Stupid. Then to compound it all it wants photocopies of ID and bank statements printed and posted. Only bank to have asked this, so as my printer is playing up they just lost a new customer as it’s to much hassle. Reviewed on: 23rd May 2023
Drew Mc's avatar
Drew Mc

Good rates. Great service.

5
I've been using Charter savings for several years. The rates have always been competitive and account opening is simple. Reviewed on: 26th March 2023
mikef's avatar
mikef

Post or Online?

5
I have never been a fan of online banking, using postal or in branch accounts. However with the issues the virus caused I bit the bullet and went on line. First concern was security Charter just felt safer more detailed than others yet it is simple to use. The rates excellent queries resolved very quickly. The queries were simply from a oldie with minimal computer experience. Absolutely delighted. Reviewed on: 9th March 2023
Thomas Hall's avatar
Thomas Hall

Frustrated that they don't action anything

1
Over a month ago I tried to transfer money from the ISA account to the original account where the money came from, its taken 5 phone calls and nothing has been resolved. I made a compliant and was told someone will ring in 3 days, it's been 6 days and no call. I've sent another letter over a week ago and no response. They are still holding my mother's savings and i am unable to help her to transfer the money back. I would not recommend this bank. Reviewed on: 7th December 2022
Kussum's avatar
Kussum

top bank

5
been with charters for bonds got good % every time they always answer probs via secure message service and promptley also got good rates with them on another account were you can withdraw anytime so excellant , Reviewed on: 29th November 2022
lizred's avatar
lizred

Use to be good...

1
Unfortunately unlike other BS who increases the interest rate on your notice ac automatically , Charter does not, held for over an hour on the phone, 2 weeks ago to see if as an existing customer whether I can go into a higher interest ac without giving 90 days notice, I couldn't so pulling my funds out and going to a BS who cares about their customers money. Reviewed on: 1st November 2022
Margaret Thompson's avatar
Margaret Thompson

Cruel CSB

1
We have invested in a fixed bond with CSB that expires next summer. However, few months ago I had major surgery and can't work for the next 6 to 12 months, hence needed some of the savings invested to live on. Although the terms are strict about fixed bonds withdrawals, I have asked CSB to help and after 5 weeks of trying they asked for monthly outgoing expenditure which I provided. They paid approx 3 months' worth. When this run out, I had to ask for more again which CSB again asked for another monthly expenditure which I obliged. However, this time they are asking for bank statements on exactly what we are spending the money on as if we are liars and doing something else with the money. The difficulty is we are using credit cards and some of money paid in borrowed for our family which is not easy just to submit a bank statement. A Bank rep called us and wasn't interested in the circumstances just to say that's the terms if you want further withdrawals which he subsequently sent a letter to confirm his stance. This behaviour is cruel and immoral and total disregard for the difficult circumstances we are enduring in our daily life. We have decided to keep our dignity and self respect and had to take a loan and sell our car to survive for now. Please let this be a lesson if you are considering doing business with CSB. P.S One special thanks to Gregory Allyne whom dealt with our requests and understood our circumstances but unfortunately the senior management who made the cruel decisions. Reviewed on: 19th October 2022
Flymo's avatar
Flymo

Nobody answers phone

1
Very bad customer service.On the phone for 50 minutes still no one answers.Very frustrating. What kind of customer service is this. Reviewed on: 3rd October 2022
E. Price's avatar
E. Price

Move along (to another bank), nothing to see here.

1
Prospective clients, beware! All financial accounts with any financial organisation, generally have a 14 day cool-off period where one can cancel the account without any penalty. The fixed rate account with Charter Savings Bank (CSB) does not. Once you've opened a fixed rate account with them, you are locked in without recourse to cancelling it within the 14-day period. Although this is mentioned in the T&Cs (as a brief note and not a bullet point), I think it merited a review post here for prospective clients' reference should they visit Trustpilot while considering CSB as an investment option. My word-of-mouth will always be negative for CSB due to its client-unfriendly terms. Reviewed on: 31st August 2022
TG's avatar
TG

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