RCI Bank Reviews

  Ratings based on 42 reviews       Last review 5 days ago    

RCI Bank reviews can help you find out more about this new entrant to the UK savings market. RCI Bank believe that a good savings account can help you to stay in control of your finances and help you get on with living your life. Smart Money People is...

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RCI Bank reviews can help you find out more about this new entrant to the UK savings market. RCI Bank believe that a good savings account can help you to stay in control of your finances and help you get on with living your life. Smart Money People is the place for RCI Bank reviews. Read and write reviews to help increase trust and transparency in financial services.

Overall Rating

Good

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RCI Bank Review Insight

What are people saying in their reviews?

Price & Interest Rates

76% of feedback is Process related

Customer profile

Top Age Profile: 35-44

Top Channel Preference: Online

RCI Bank Products 42

E-Volve Savings Notice Account

Best green account out there, by miles!

Glad to discover this green account that’s paying a decent rate compared to others out there. And don’t have to put my money away for years. Keep it up Rci !

Reviewed on 20th January 2022
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John L
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95 Day Notice Account

Excellent service and quality product

Product well explained, account application and management with no complications. Am kept well informed re: deposits, updates and interest rates. Excellent customer service which promotes a sense of loyalty. Feel valued and appreciated as a customer.

Reviewed on 19th January 2022
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peter
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Freedom Savings Account

Quality product and excellent customer service

Products and their management well explained. Any queries are answered. Can be contacted 7 days a week. Quality products and feel valued and appreciated as a customer.

Reviewed on 19th January 2022
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peter
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Freedom Savings Account

Super account

Straightforward and easy to use with good rstes

Reviewed on 18th January 2022
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Tracey Deeming
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Fixed Term Savings Account

Good return on investment

One of the better interest rates going about at the minute. Easy website to navigate with a phone app makes managing your investment really easy.

Reviewed on 18th January 2022
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Alan Forrest
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Freedom Savings Account

Great bank

I'm at a loss to understand all of the negative reviews. Good interest rates, good communication, easy to contact (last call I was through in around 10 seconds).

Reviewed on 11th January 2022
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Steven S
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Freedom Savings Account

BEWARE of RCI BANK !!

BEWARE : DO NOT USE RCI... Read more

BEWARE : DO NOT USE RCI BANK
READ THEIR REVIEWS!!!
ARROGANT INCOMPETENT WITH A COULDN'T CARE LESS ATTITUDE !
I applied to RCI BANK fto open an account on 3rd March.
It took them to the 17th March to reply to me via email giving my account details.
On the email RCI BANK stated I had 14 days from date of this email (17th March) to make a payment into my account.
I called on the 24th March to make a payment only to find my account had been closed.
RCI BANK ARE A DISGRACE TO THE BANKING SECTOR

Reviewed on 24th March 2021
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Charlie Gorman
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Freedom Savings Account

Been trying to open a fixed rate bond for 5 weeks - still no joy !!!

Completed online application with no problems. Asked to provide additional information/documentation which was sent the same day and the original documents returned without too much delay. Waited a week to receive welcome pack and ID before contacting... Read more

Completed online application with no problems. Asked to provide additional information/documentation which was sent the same day and the original documents returned without too much delay. Waited a week to receive welcome pack and ID before contacting RCI. Have sent e-mails twice since and received automated response immediately noting that a reply will be sent within 4 days - still not had reply to either e-mail approximately 20 days since sending the first !! Appreciate that there may be difficulties due to the Covid 19 restrictions etc, but at least let people know what's going on. 14 days to pay into account way past !!!!! Is it a ploy not to pay the competitive rate promised at time of application ??? Pathetic service

Reviewed on 25th June 2020
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Alan
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Freedom Savings Account

"Your account is open, except that it's closed"

Appalling experience trying to open an account. Sent additional ID proof which didn't seem to arrive, so provided it again by email. Opening account letter said I had 14 days to make a deposit, which I did, but when I couldn't access the account I... Read more

Appalling experience trying to open an account. Sent additional ID proof which didn't seem to arrive, so provided it again by email. Opening account letter said I had 14 days to make a deposit, which I did, but when I couldn't access the account I was told it was because I hadn't used it in time! Absolute rubbish service; I'll be going elsewhere.

Reviewed on 17th June 2020
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R Vernelle
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Freedom Savings Account

Had to give it 1 star but this is 3 more than it deserves

Avoid at all costs - you will be constantly on hold and the service is poor. And this is what it's like trying to open an account, god knows what obstacles I will encounter when I need to make a withdrawal. I think this was a Martin Lewis... Read more

Avoid at all costs - you will be constantly on hold and the service is poor. And this is what it's like trying to open an account, god knows what obstacles I will encounter when I need to make a withdrawal. I think this was a Martin Lewis recommendation but can't be sure. If so, you dropped the ball on this one Martin

Reviewed on 5th June 2020
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martin
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Freedom Savings Account

Truly awful

I have called them 3 times, the one hold’ time has been 52 minutes, 30 minutes, and 75 minutes. I have emailed and messaged 8 times, never received a single response. They still have £167,980 of my money which I am struggling to recover from them. DO N... Read more

I have called them 3 times, the one hold’ time has been 52 minutes, 30 minutes, and 75 minutes. I have emailed and messaged 8 times, never received a single response. They still have £167,980 of my money which I am struggling to recover from them. DO NOT BE TEMPTED TO USE THEM

Reviewed on 19th May 2020
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Norman Turner
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Freedom Savings Account

Don't do it

I opened an account a couple of weeks ago. Can't access the website - it doesn't recognise the ID they gave me or password. Have been trying to get through for 5 days on the phone - never get through. Have been on hold up to 60 minutes at a time. I... Read more

I opened an account a couple of weeks ago. Can't access the website - it doesn't recognise the ID they gave me or password. Have been trying to get through for 5 days on the phone - never get through. Have been on hold up to 60 minutes at a time. I noticed their facebook had loads of similar complaints, but today noticed all the messages have been deleted, so they are clearly moderating out their customer messages. Emailed them twice in the last week as well - still haven't had response. Emailed them on Facebook, get a 'we will call you message' but nobody calls.

I am now trying to get my money back and close the account!!!

Reviewed on 18th May 2020
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Ann
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Freedom Savings Account

Easy, clear, helpful

I have been saving for my wedding with RCI Bank as their interest rates are competitive. I have always managed to log in successfully without needing the support of the contact centre staff. I did call to discuss my account and the staff member I... Read more

I have been saving for my wedding with RCI Bank as their interest rates are competitive. I have always managed to log in successfully without needing the support of the contact centre staff. I did call to discuss my account and the staff member I spoke to was incredibly helpful. The account is very simple to use and I have had absolutely no issues with opening or managing this account online. THANK YOU for being clear and for your brilliant communication

Reviewed on 26th May 2019
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MrsF
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Freedom Savings Account

Utterly incompetent

Terrible experience with this bank. Their customer service is non existent. They can't or won't help you. They won't transfer my money into the account unless the other bank produce yet another document. At this stage I don't know if I'll ever see my... Read more

Terrible experience with this bank. Their customer service is non existent. They can't or won't help you. They won't transfer my money into the account unless the other bank produce yet another document. At this stage I don't know if I'll ever see my money again.

Reviewed on 8th April 2019
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Raquel
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Freedom Savings Account

Efficient, Helpful, Safe.

I opened my first RCI Freedom Saver online in 2016 with a 1 year fixed rate. I switched that money into a 3 year fixed rate bond at the end of that year which was handles seamlessly. I transfer funds to and from my RCI accounts easily online with... Read more

I opened my first RCI Freedom Saver online in 2016 with a 1 year fixed rate. I switched that money into a 3 year fixed rate bond at the end of that year which was handles seamlessly. I transfer funds to and from my RCI accounts easily online with 100% accuracy.

I do not understand the multiple reviewers saying RCI is hard to access online, unless their issues lie between their keyboards and the floor. I have never once been unable to log in, never once had to change my password (because I can remember it, which always helps). If people have an issue with RCI following proper security protocols to set up an account, how would they react if they didn't do that and your money went astray?? And I have never contacted them by phone without receiving helpful, attentive and knowledgeable service. And no, I don't have a friend or family member who works there.

They're good. They're very good. The fixed rate savings rates now look a tad low after 2 interest rate tweaks but that's the risk you take. My bad, not RCI, 's.

Seriously, if you have ANY computer competence at all, ignore the naysayers and sign up.

Reviewed on 21st August 2018
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Vince McLean
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Freedom Savings Account

Clear information, reliable service

I opened my account in April 2018, easily, within minutes. Received SMS confirmation of receipt, within two hours of sending funds. Account statements are clear and user-friendly. Log-in procedure is fast and not absurdly complicated (unlike many... Read more

I opened my account in April 2018, easily, within minutes. Received SMS confirmation of receipt, within two hours of sending funds. Account statements are clear and user-friendly. Log-in procedure is fast and not absurdly complicated (unlike many banks). Service-desk was fine on the one occasion I used them. Have not yet withdrawn funds, but if it takes one day longer than Faster Payments, that is not a problem for me. My deposit is substantially above the guarantee limit, which shows that I trust RCI.

Reviewed on 21st August 2018
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Russell
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Freedom Savings Account

With them 9 months now

POS: Never had a problem with logging in. I think having the 3 different questions for logging in makes it more secure, get a txt when they have received my funds, I don't have more than £90,000 ( todays exchange rate) so is prottected by FGDR, better ... Read more

POS: Never had a problem with logging in. I think having the 3 different questions for logging in makes it more secure, get a txt when they have received my funds, I don't have more than £90,000 ( todays exchange rate) so is prottected by FGDR, better interest than uk banks with there silly bonus percentage for a year.
CON: Not in faster payment so have to wait a bit for transfers so give it a 4 star

Reviewed on 18th July 2018
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Will
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Freedom Savings Account

A second review..

I first opened my account in Nov '15, and wrote my first review on here almost a year later in Oct... Read more

I first opened my account in Nov '15, and wrote my first review on here almost a year later in Oct '16.

Now - having read some of the more recent (and very poor) reviews - I would like to just confirm, for anyone who is interested, that my own experience remains extremely positive.

Back in Nov '15, I opened my account online quickly and simply, and without a glitch.
Since then, I have NEVER failed to log in successfully at the first attempt. And in addition, I have made both deposit and withdrawal transactions along the way, which (likewise) were processed quickly and simply at the first time of asking.

We're now in Jun '18, and I have never had to phone or email the bank about anything.

I do wonder at times whether some peoples' issues may actually be of their own making - without them realising this.

Reviewed on 20th June 2018
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S Sadler
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Freedom Savings Account

Simple and straigtforward

I have had none of the log-in problems encountered by other customers on this site. Instead my online application went through extremely smoothly and quickly. I particularly like the confirmatory sms when funds are deposited. The interest rate for an... Read more

I have had none of the log-in problems encountered by other customers on this site. Instead my online application went through extremely smoothly and quickly. I particularly like the confirmatory sms when funds are deposited. The interest rate for an easy-access account is far better than any comparable UK bank.

Reviewed on 26th April 2018
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Chris Jones
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Freedom Savings Account

Nightmare process to open an account - if you ever succeed

Opening the account seems to be a never ending story, with a very convoluted and not transparent process (need to send proof of address, multiple confusing emails, etc..) and no matter what happens you always end up with being locked out as the 30... Read more

Opening the account seems to be a never ending story, with a very convoluted and not transparent process (need to send proof of address, multiple confusing emails, etc..) and no matter what happens you always end up with being locked out as the 30 days from you application date (which is never known) always run out. Tried twice same results - now moving to an alternative provider. Advice, don't waste your time

Reviewed on 3rd April 2018
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Geoff Rolandi
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