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RCI Bank: Fixed Term Savings Account reviews

Name: Fixed Term Savings Account
Rating: 4.5 (511 reviews)

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4.33

Based on 511 reviews, last reviewed 1st Mar 2025

400% increase 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

Easy to manage online savings account with good rates Easy to manage online savings account with good rates Reviewed on: 1st March 2025

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.

RCI Bank Fixed Term Savings Account reviews (511)

Review of the RCI Bank, Fixed Term Savings Account:

Offer very good rates of interest to savers

I have been with RCI Bank for a number of years and found them a first class Bank. Reviewed on: 17th January 2022

Service

Update 17th December 2022 - money has now arrived Reviewed on: 16th December 2022

Where is my money?

I opened a fixed term 1 year account on 05/11/22. I set up a payment method through my current account to add funds to the RCI account. This was successful. However on 09/12/22 I tried to add funds, these were rejected 3 days later and returned to my current account. I tried this again on 13/13/12/22 and the funds were again rejected on 14/12/22. I tried this again yesterday and the funds do not appear to have been applied o my account, nor have they bee rejected (returned). I have telephoned RCI on three occasions, waiting 13, 15 and 22 minutes respectively. It is clear I am not going to get through on the phone. I have now e-mailed them. I will be complaining to the finance ombudsman and/or FCA and I will be seeking to complain directly to the CEO. I now question the competence and efficacy of this bank. Reviewed on: 15th December 2022

Impossible to contact

I have tried for over 3 weeks to contact RCI bank by messaging, email and phone. I am finding it impossible to get assistance to the point where I am going to close my account and move my money elsewhere. No thank you very much RCI Bank Reviewed on: 15th December 2022

Good rates but communication terrible

The rate I get is reasonably good - communication is very poor. 6 days on I am still waiting a response to my simple question. I also tried ringing, held on for almost 40 minutes and then gave up. RCI is either understaffed or overwhelmed with business - either way is not acceptable as a customer. Reviewed on: 30th November 2022

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

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