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Charter Savings Bank: Fixed Rate Bond reviews

Name: Fixed Rate Bond
Rating: 2.63 (62 reviews)

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2.90

Based on 62 reviews, last reviewed 15th Mar 2024

No new 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

34%

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

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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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 (62)

Review of the Charter Savings Bank, Fixed Rate Bond:

splendid experiences

several accounts over the years, all dealt with promptly and with due communication. Very competitive rates Reviewed on: 15th March 2024

Outstanding

Very good would highly recommend Reviewed on: 2nd June 2019

Never a problem

I have saved with Charter for a few years and have never had a problem, it seems that reading through the reviews that some customers do not read the small print and Ts & Cs and are not fully aware of the contract they are entering in to. Reviewed on: 30th May 2019

POOR CUSTOMER SERVICE

OPENED A FIXED RATE ISA, HAD HEARD HOW THEY GIVE YOU A LOWER RATE AFTER YOU'VE PUT YOUR MONEY IN, AND NONE OF THIER PAPERWORK STATES THE RATE I OPENED IT AT, SO HAVE WRITTEN TO THEM TWICE TO CONFIRM THE RATE IN WRITING BUT NO RESPONSES IN A WEEK BY EMAIL. MY BANKS FRAUD SQUAD HAD CONTACTED ME TOO ABOUT OPENING THIS ACCOUNT WHICH THEY DONT NORMALLY DO WHEN OPENING NEW ONES, SO DECIDED TO GO ELSEWHERE AS GUT FEELING DOESNT FEEL RIGHT Reviewed on: 1st May 2019

Take your money not happy to give back

As with a number of reviews I have read here on fixed or notice accounts, should your circumstances change the bank expect you to prostrate yourself before them with a begging bowl to access even a small part of your funds. As with others I offered to pay any penalties they required but they were completely intransigent. I had to call down on some of my pension with a considerable financial penalty to cover a set of circumstances totally beyond our control. DO NOT USE THIS BANK Reviewed on: 30th April 2019

Tried to open a one year bond.

Tried twice to open a one year bond. Completed the online application and posted off proof of identification (not freepost like others). Emailed to query why I heard nothing. They replied saying could not discuss via email. Rang twice to find out what was happening and was told that that they were still checking id (after two weeks!) You're required to make deposit within 14 days??! Three weeks later still not heard from them. I've now given up! Their loss. Reviewed on: 25th January 2019

Very simple to open and a great interest rate

I found it very easy to open my account. It was all online and I completed it very quickly. One time I forgot my password and phoned up, they were lovely people and couldn't do enough for me and helped me set up a new password. I went to Charter as they had the best interest rate, and I'm so glad I did - they've made everything very simple. Reviewed on: 21st January 2019

Good Honest SAVINGS WITH BEST RATES OFFERED.

Excellent service online, safe. with constantly best rates offered. Reviewed on: 7th November 2018

Appalling

Horrific customer service. Hard to get hold off and attitude issues if you ever even get hold of them. Reviewed on: 19th August 2018

Very disappointed

I experienced difficulty in timely encashing my matured bond, not least of all because of what I regarded as the bank's inadequate on-line system. I made a formal complaint which I consider was not thoroughly investigated. Needless to say I will not in the future be investing with this bank again. Reviewed on: 28th January 2018

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

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