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RCI Bank: Fixed Term Savings Account reviews

Name: Fixed Term Savings Account
Rating: 4.5 (507 reviews)

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4.27

Based on 507 reviews, last reviewed 23rd Aug 2024

100% decrease in 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

76%

15%

Latest highest rating:

5

Great service and the simple way you really informat... Great service and the simple way you really information Reviewed on: 23rd August 2024

Latest lowest rating:

1

Very poor service RCIs total inability to manage my maturity instructions leading up to and after my fixed bond maturing has left me out of pocket. I can’t have been le... Read more Reviewed on: 23rd November 2023

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About this product

With RCi, you can lock your money away in a fixed term savings account.

RCi fixed term savings accounts are available for one, two, three, four or five years. You’ll need to open the account with between £1,000 and £1 million. Unlimited top-ups can be made in the first 14 days.

RCi fixed term savings account reviews help you find out what it’s really like to be a customer. If you’ve used RCi before, you can also leave a review and share your experience.

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RCI Bank Fixed Term Savings Account reviews (507)

Don't Bother

If you want to talk to customer services expect to be on the phone at least an hour before talking to anyone. Very poor customer service Reviewed on: 24th November 2022

Non-existent customer service

They simply do not respond, whether to email, Facebook Messenger or Twitter. They have no # that can be called from abroad. Reviewed on: 22nd November 2022

Customer service, what customer service??

completely agree with the previous reviewer who wrote 'is anyone there?' applied for an account two weeks ago. response was they needed more proof of identity, so the same day, sent a photocopy of driving licence in the post. one week later, heard nothing. have sent 3 emails since (automated response promises a reply within 4 working days - Not a Chance!), spent hours on the phone listening to music. giving up. don't want an account with an organisation like this. interest rates may be good, but the customer service is NON EXISTENT. going elsewhere .... Reviewed on: 18th November 2022

Flawless Online account setup

Amongst all the chaos that these fantastic products have caused I wanted to be the voice of balance , just to say that my account opening and funding has been flawless this week. Everything worked first time, user Id, account verification and a confirmation for each deposit made. Obviously the sheer volume of interactions that RCI are currently dealing with a causing some challenges but as far as experiences go this has been flawless. Reviewed on: 18th November 2022

Response

Just received a standard response saying they are prioritising new account openings, so loyalty to existing long term customers takes a back seat! Unbelievable. They have 8 weeks to contact me and respond to my issue or I raise a formal complaint with the financial ombudsman - i cannot do that until 8 weeks have passed otherwise i would. No personal service, no service of any kind to customers. Time to go. Reviewed on: 17th November 2022

Authentacation code

have now received four letters requested to authenticate linked account So far none have been recognised so I cannot withdraw my funds I am still within the 14 days cooling of period without being able to contact them on phone I cannot close this account I think it will end up as goverment repayment as this is a zombie bank Reviewed on: 16th November 2022

Reply from RCI Bank Hi Keith, head of savings here, and with bit of a long reply to all the comments but bear with me. I’m very sorry if you had a long wait time on the telephone or not being able to connect. We’ve kept some very competitively priced accounts on sale for the past two weeks up to this morning. At a time when household finances are stretched, I asked the team to give some priority to opening accounts at these rewarding rates (rather than taking the products off sale) so customers would earn a competitive return on their savings for years to come. I’m sorry this impacted your experience with us. I also regret this happened to as many people as it did- we do take onboard all feedback. Due to the sheer volume of applications, the team has been busy processing over 30k manual account openings, telephone calls, emails, and inquiries as we welcomed tens of thousands of new savers. We’re heartened that so many UK households are saving and getting a rewarding rate of interest. We’re now working through the contact backlog. If you still have an outstanding issue and would like a personal response to your query, please follow us on Facebook and send us a private message so that we can contact you directly. Please make sure it’s a private message and you don’t publish your personal information for all to see. Best wishes!” Response date: 17th November 2022

Contact difficulty

Nobody answers the phone or responds to emails....ever!! Rubbish service and i am transferring to another bank ASAP as well as contacting the financial ombudsman Reviewed on: 16th November 2022

Reply from RCI Bank Hi David, head of savings here, and with bit of a long reply to all the comments but bear with me. I’m very sorry if you had a long wait time on the telephone or not being able to connect. We’ve kept some very competitively priced accounts on sale for the past two weeks up to this morning. At a time when household finances are stretched, I asked the team to give some priority to opening accounts at these rewarding rates (rather than taking the products off sale) so customers would earn a competitive return on their savings for years to come. I’m sorry this impacted your experience with us. I also regret this happened to as many people as it did- we do take onboard all feedback. Due to the sheer volume of applications, the team has been busy processing over 30k manual account openings, telephone calls, emails, and inquiries as we welcomed tens of thousands of new savers. We’re heartened that so many UK households are saving and getting a rewarding rate of interest. We’re now working through the contact backlog. If you still have an outstanding issue and would like a personal response to your query, please follow us on Facebook and send us a private message so that we can contact you directly. Please make sure it’s a private message and you don’t publish your personal information for all to see. Best wishes!” Response date: 17th November 2022

poor service

I just opened one year fix saving account When I log into my account, it does not show anywhere what the interest rate is earning I tried to call RCI three times, waited more than 40 minutes every time but no one is answering. I have sent secure message and hope I will get reply soon Reviewed on: 15th November 2022

Reply from RCI Bank Hi Dinesh, head of savings here, and with bit of a long reply to all the comments but bear with me. I’m very sorry if you had a long wait time on the telephone or not being able to connect. We’ve kept some very competitively priced accounts on sale for the past two weeks up to this morning. At a time when household finances are stretched, I asked the team to give some priority to opening accounts at these rewarding rates (rather than taking the products off sale) so customers would earn a competitive return on their savings for years to come. I’m sorry this impacted your experience with us. I also regret this happened to as many people as it did- we do take onboard all feedback. Due to the sheer volume of applications, the team has been busy processing over 30k manual account openings, telephone calls, emails, and inquiries as we welcomed tens of thousands of new savers. We’re heartened that so many UK households are saving and getting a rewarding rate of interest. We’re now working through the contact backlog. If you still have an outstanding issue and would like a personal response to your query, please follow us on Facebook and send us a private message so that we can contact you directly. Please make sure it’s a private message and you don’t publish your personal information for all to see. Best wishes!” Response date: 17th November 2022

Awful customer service (if they respond or you can get through)

Recently opened an account, and nowhere in the account opening documentation does it mention the interest rate that will be applied. Not even available via online banking. Sent multiple messages via online banking, no response for over a week. Tried calling 5 times, each time had to give up after waiting over 45 minutes to connect to someone. Avoid at all costs. Reviewed on: 15th November 2022

Reply from RCI Bank Hi, head of savings here, and with bit of a long reply to all the comments but bear with me. I’m very sorry if you had a long wait time on the telephone or not being able to connect. We’ve kept some very competitively priced accounts on sale for the past two weeks up to this morning. At a time when household finances are stretched, I asked the team to give some priority to opening accounts at these rewarding rates (rather than taking the products off sale) so customers would earn a competitive return on their savings for years to come. I’m sorry this impacted your experience with us. I also regret this happened to as many people as it did- we do take onboard all feedback. Due to the sheer volume of applications, the team has been busy processing over 30k manual account openings, telephone calls, emails, and inquiries as we welcomed tens of thousands of new savers. We’re heartened that so many UK households are saving and getting a rewarding rate of interest. We’re now working through the contact backlog. If you still have an outstanding issue and would like a personal response to your query, please follow us on Facebook and send us a private message so that we can contact you directly. Please make sure it’s a private message and you don’t publish your personal information for all to see. Best wishes!” Response date: 17th November 2022

Completely hopeless trying to contact them by telephone or private messages via your on line account

my husband has died and getting his account settled with RCI is being a nightmare Reviewed on: 15th November 2022

Reply from RCI Bank Hi Monica, head of savings here, and with bit of a long reply to all the comments but bear with me. I’m very sorry if you had a long wait time on the telephone or not being able to connect. We’ve kept some very competitively priced accounts on sale for the past two weeks up to this morning. At a time when household finances are stretched, I asked the team to give some priority to opening accounts at these rewarding rates (rather than taking the products off sale) so customers would earn a competitive return on their savings for years to come. I’m sorry this impacted your experience with us. I also regret this happened to as many people as it did- we do take onboard all feedback. Due to the sheer volume of applications, the team has been busy processing over 30k manual account openings, telephone calls, emails, and inquiries as we welcomed tens of thousands of new savers. We’re heartened that so many UK households are saving and getting a rewarding rate of interest. We’re now working through the contact backlog. If you still have an outstanding issue and would like a personal response to your query, please follow us on Facebook and send us a private message so that we can contact you directly. Please make sure it’s a private message and you don’t publish your personal information for all to see. Best wishes! Response date: 17th November 2022

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