Write a review

Go to business site

Charter Savings Bank: Fixed Rate Bond reviews

Name: Fixed Rate Bond
Rating: 2.7 (64 reviews)

View other Charter Savings Bank products

2.84

Based on 64 reviews, last reviewed 13th Jun 2025

No new 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

36%

51%

Latest highest rating:

5

COMPETITIVE COMPANY very helpfuland informative with products a nd services for ISA FUNDS ETC Reviewed on: 13th June 2025

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

Read all reviews See your review

About this product

Charter Savings Bank bond reviews are honest reviews written by people like you. While many people look at the interest rates on offer, what about the Charter Savings Bank's customer service? Smart Money People is fast becoming the UK's leading source of independent Charter Savings Bank bond reviews. We need your help! By writing your honest reviews, you can help increase trust and transparency in the financial world.

Charter Savings Bank Fixed Rate Bond reviews (64)

Review of the Charter Savings Bank, Fixed Rate Bond:

Consider carefully before making commitment

With the prevalence of banking fraud and identity theft, nothing about opening an account with Charter Savings gave me confidence that my money or personal data would be safe. They appear to have a hole in their FCSC coverage and are unable to provide assurance that private and personal data is purged from their system when an account application is cancelled. On applying for an account I received an email describing how to make an initial payment, and how they would send a User ID by post to allow online access to the account. There was however a little rider tucked neatly into the middle of the email advising that funds sent to the bank wouldn't be covered by the Financial Services Compensation Scheme (FSCS) until the account was opened; this caught my attention. A couple of days later another email arrived stating the bank would be in contact in due course to confirm the next steps; which I assumed would be a letter through the post containing the User ID mentioned in the previous email. This I further assumed would allow me to confirm that, before making a deposit, the new account was active and covered under FSCS. I also wanted to confirm the account interest rate and maturity date before proceeding. Three weeks later I received an email, containing no reference ID, asking me to call an 0800 number so they could have a "quick word regarding [my] recent enquiry". On calling the number, customer services had some difficulty tracing my application as I couldn't give them a reference indicator from the email. I was also troubled by one of their security check questions asking me to provide the account number of the bank from which I would be transferring funds; which I refused! It was then explained to me that my application had been processed and required an initial deposit to open the account. This raised an issue as I was not comfortable transferring funds to an unknown entity until I had confirmed (online) that the account was open and active. I was unable to do this, however, as the account firstly required a deposit before they could provide online access! The issue I have with the above is that it creates a transaction hole where funds are not covered by FSCS. This FSCS hole seems irregular as haven't experienced a similar difficulty with other financial institutions. Having no desire to deposit my money into an online entity with lapses in its FCSC coverage - I chose not to proceed. Having decided to cancel my application I asked for written assurance that all my private and personal information, submitted as a prerequisite for opening an account, would be purged from their records and database. They were unable to provide this assurance, and couldn't even put me in contact with an individual or department that could. Reviewed on: 24th October 2017

Nobody answers phone

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

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

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

Never had a problem

I've never had a problem with Charter. Always found customer service to be excellent and very friendly. Each time I've phoned I've been given sound advice by those I've talked to. I've found waiting time on phone calls to be no worse than any other company I've rang be it one of the utilities or broadband providers. Reviewed on: 6th August 2022

Clumsy procedures

On maturity you are offered renewal rates that are lower than they offer on the web. To overcome this you need to have your funds placed in an easy access account temporarily. Farcical. Reviewed on: 27th July 2022

Do Not Answer phone.

Very poor customer service tried numerous times to get through, also get cut off after waiting for 45 minutes. They say the are very busy at any time that you ring them, i say that they do not have enough staff available. This is very frustrating and i can not recomend Charter Savings Bank to anyone that expects any kind of customer service. Reviewed on: 9th June 2022

Look Elsewhere for a bank that cares

Do not use this bank. It took six days for them to return my funds. In This day of fast payments this is totally unaceptable and in no way fair for the customers of this bank. This seems to be an ongoing problem looking at other reviews of this bank. They do not seem interested in changing the way in how they choose to do things. I guess they just pocket the additional interest which is totally unjust. Reviewed on: 8th June 2022

Very slow to return your Funds

Would not recomend this bank as they hold on to your money for days when closing the account, in this day of fast payments this is totally unaceptable. would deffinatley look elswhere if you wish to be treadted as a valued customer. Reviewed on: 1st June 2022

Terrible service

I applied to remove my money 90 days ago on 95 day account they won’t give us our money until August - another 94 days!! Nobody answers the phone. Tried for 2 hours. This is a disgusting company. Reviewed on: 26th April 2022

Very very slow transfer on money back

They hang on to your money 1 2 days after the click date to earn themselves interest whilst you loose out.. Beware Reviewed on: 21st March 2022

They hang on to your money

They delay payment of funds to your account from matured account. one / email - they ignore. Need your money quickly - Good luck with that! Reviewed on: 1st March 2022

Do you have a different Charter Savings Bank product?

Share your experiences with products to help others make smarter financial decisions and learn more about different products available. Write a review

Are you a business? Get insights, reply to reviews, invite customers and understand their needs

Alternative products

e-Bond
from Nationwide 4.32 from 7 reviews
Income Bonds
from NS&I 2.68 from 25 reviews
Premium Bond
from NS&I 2.80 from 147 reviews

Want to see more from Charter Savings Bank?

Easy Access
from Charter Savings Bank 2.99 from 23 reviews
Notice Account
from Charter Savings Bank 1.85 from 18 reviews

View all products

Join Smart Money People

Keep up to date on ratings of your favourite businesses. Find out about our awards and write new reviews with ease

Create an account

News, guides and insight from our team

View resource hub