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Review of the RCI Bank, Freedom Savings Account:

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Freedom Saver Easy Access till it isn’t

I cannot stress this enough but if you value having access to your funds or good customer service forget RCI and go elsewhere! They are not an ONLINE ONLY bank they insist on various correspondence being sent by snail mail! They don’t return phone calls, ‘Managers’ are always on another call. The complaints team don’t phone either they just stick a letter in the post saying they are looking into it. My account and funds have been frozen since Friday the 13th! The RCI Bank Story: With our strong roots and a simple, human approach to banking, we're making a difference. It's a story that demonstrates how our passion for innovating and helping people get on and enjoy life has been driving our business for nearly 100 years. This doesn’t describe the RCI BANK that I know! There is nothing SIMPLE about the approach they have taken with me and they certainly haven’t made my life ENJOYABLE. I cannot recommend RCI Bank, like many I sometimes switch current accounts to take advantage of switching offers and after changing my linked account with RCI using their requested method of sending the change of details by post, (weird given everything else is done online). They then send a code (again this comes by post) that needs to be input in order to complete the change of linked account. I input the code on Wednesday the 11th, I received email confirmation that my new linked account was ready to use only for them to freeze my account Friday, I went to access my money and the withdraw function had gone. I put it down to app issues but then received a letter on Saturday stating I needed to submit further confirmation that the new linked account they had already approved was mine?! Even though I had received the code they sent to my registered home address. Customer service cannot help and apparently ALL the Managers are on other calls. It is UNACCEPTABLE for an online-only bank to freeze my account and inform me via SNAIL MAIL. I have had no contact from the department that put the account on hold and no contact from the complaints department either, I registered a formal complaint on Saturday the 14th. Add this to the fact transfers in and out of their accounts take hours if not days when most other banks complete the same in minutes if not seconds and RCI Bank no longer looks like the best option for my money. 6 days in and account still frozen and still no meaningful contact from RCI. No contact from the department that put the hold on the account and no contact from complaints either. I will be complaining to the Ombudsman in due course as this is unacceptable. Think very carefully before investing with this company, yes the interest rates are competitive and if you are happy to fix your money then great but if you want easy access DO NOT rely on being able to withdraw your money when you want to and assume there will be radio silence from them if they put a hold on your account. 10 days in and my account is still frozen. The documents I submitted were rejected as they had my full name on the address page and referred to me with just my surname on the second page. Weird though how they have just paid away my interest to the current account they DON’T think is mine?! This whole debacle is unforgivable and RCI should be held accountable for the appalling way they treat their customers. If you appreciate open and responsive communication with your bank look elsewhere. Reviewed on: 24th June 2025

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