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Charter Savings Bank: Fixed Rate Bond reviews

Name: Fixed Rate Bond
Rating: 2.67 (63 reviews)

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2.85

Based on 63 reviews, last reviewed 2nd Apr 2025

100% increase in 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

35%

52%

Latest highest rating:

5

Good accounts which are easy to open on line Good accounts which are easy to open on line Reviewed on: 2nd April 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

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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 (63)

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

Good accounts which are easy to open on line

Good accounts which are easy to open on line Reviewed on: 2nd April 2025

splendid experiences

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

Charter offers fixed rate for 1 to 5 yrs.

Charter offers fixed rate for 1 to 5 yrs. Reviewed on: 28th February 2024

Easy to deal with

They are also lovely to deal with and offer competitive savings rates Reviewed on: 26th February 2024

Good interest rates, efficient web site.

Good interest rates, efficient web site. Reviewed on: 26th February 2024

Excellent bank

Excellent service, good interest rates, efficient, easy to access Reviewed on: 31st January 2024

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 add funds online. A standard reply asked me to find a form, print it out and post it to them ( but would not guarentee action until up to 15 days). When the form reached them after their date of 30 days, which they had not mentioned when they asked me to send the form in 4 days! they refused to accept my money...Unbelievablely unprofessional and inflexible position. So disappointing. To compare I have just set up to move that money with 4 clicks on line to an ISA with Skipton building society...what a difference .Go there dont invest in Charter, they cant be bothered to help a customer (45 minutes on the phone too). Date of experience: 29 January 2024 Reviewed on: 29th January 2024

Fixed rate ISA

Transferred 3 ISAs to them over a month ago and only one amount has been deposited. Contacted the other 2 establishments and have been told that transfers took place over 2 weeks ago. Tried to contact Charter with no response, what did I expect they are a typical bank making money off me without giving anything in return…. As soon as I get my money all in one place it’s coming straight out. Reviewed on: 13th November 2023

Best rates

Great rates for fixed rate bonds. safe and secure Reviewed on: 14th September 2023

Excellent and easy way to save

Have used this company for my savings for at least ten years. Saving rates are very competitive Reviewed on: 29th July 2023

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