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Frances Heaton

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All reviews (19)

Review of the NS&I, Fixed Term Investments:

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3 Year fixed-term Pensioners' Bonds

During January this year, the government offered pensioners the chance to buy fixed-terms bonds, offering competitive rates. My husband and I opted to invest in a 3 year joint account, offering a very competitive 4% interest rate. More than double the amount of interest than could be found anywhere else! The account was quite easy to set up, we sent the application form through the post, along with cheque. There was also the option to sign up online, however due to the overwhelming response to this attractive offer, the website tended to crash making it almost impossible to carry out the transaction. We like this account as the interest rate is still highly competitive, and will remain so for at least the fixed term of 3 years. However, when the account matures, it is difficult to know whether NS&I will have any more accounts offering competitive rates, or whether the funds will need to be transferred elsewhere. The account is also covered completely by the government if something goes wrong. The only downside that I can see is that NS&I don't appear to be offering competitive rates on their other fixed rate bonds. Reviewed on: 24th December 2015

Review of the Nationwide, Credit Card:

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Spending with Cashback!

Great credit card which gives cashback on spending. No interest to pay when you pay the balance each month. Easily transfer payment through Nationwide's excellent online banking system. Recommended. Reviewed on: 21st November 2015

Review of the Yorkshire Building Society, ISA:

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Great interest while it lasts!

Saving interest rates are poor these days, and when my ISA matured, after checking comparison sites found that Yorkshire Building Society were offering the best interest rate at that time - a market leading 2% per annum! I made an appointment at the branch office and the adviser couldn't have been more helpful. She arranged the transfer from my old ISA account, all the paperwork went through satisfactorily and the documents arrived in good time. The ISA fixed-rate bond matured at 18 months, but I was extremely disappointed to see that the YBS were only prepared to offer derisory interest rates of 1.2% for a new 1-year bond, or 1.3% for 2 years. The Bank of England rate hasn't changed within the time that I have held this account, and I couldn't understand why the building society were offering such poor rates on maturity of bonds. Were they hoping that customers would accept their poor offer and lose out on a better rate? It seemed mean to me! I have (again) checked comparison rates, and am in the process of transferring the ISA account to a financial institution which values their customers. My husband will also do the same when his YBS ISA matures shortly. Because of Yorkshire Building Society's lack of loyalty to customers, they are going to lose out on a considerably amount of money! I advise customers to vote with their feet! Reviewed on: 9th August 2015

Review of the Nationwide, FlexDirect:

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Excellent service and interest rate.

I was informed by Nationwide about their new Flex Direct current account, and decided to switch from our standard Nationwide Flex current account. The interest rate of 5% is available for one year, and after this reverts to 1%, compared to the current account which we already had, which gives no interest. To receive these rates customer have to pay into the account at least £1000 per month. There is no monthly charge for having this account, unlike some other financial institutions who charge for the privilege! The switch went through very quickly with no problems, and the account is available to view through Nationwide online banking. Transfers can be made, direct debits and all aspects of banking can be carried out online. Nationwide's online banking system is second to none. Customers are also entitled to a contacts banking card. One minor problem was that when we had a cheque to pay in at the branch, Flex Direct customers are expected to do this through Nationwide's terminal in branch, rather than hand to an assistant along with your bank card. However, someone showed us how to use and it proved quite easy. We have held this account more than a year now and the interest rate has reverted to 1%, which is less than some other banks are offering at present, for example, Santander's 123 account, which offers 3%. However, we are happy with the account and pleased that we are receiving interest on our every day transactions. Reviewed on: 9th August 2015

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