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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.

RCI Bank Fixed Term Savings Account reviews (507)

Review of the RCI Bank, Fixed Term Savings Account:

Good customer service and interest rates

RCI have good customer service and has better interest rates on the fixed accounts, than most other banks Reviewed on: 17th January 2022

Dissatisfied with getting in touch with somebody

Every time I phone I’m put on hold never knowing how long I’ve got to wait Reviewed on: 14th 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

No Communication

Having invested some money into a 1 year fixed rate bond, I had hoped to add to the funds. Due to conflicting information, I have tried to contact the bank several times. I have left 4 secure messages - no response. I have phoned 3 times and waited online unto 30 mins - no response. I have e-mailed twice - no response. I have sent out 2 written letters via post - no response. I am really worried I will not be able to get my initial investment out. I wish I had read online reviews before going through with this. The financial ombudsman needs to take a look at this company. Reviewed on: 14th November 2022

Reply from RCI Bank Hi Julie, 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 AWFUL AWFUL CUSTOMER SERVICE

I transferred funds into my account last week. However, when I tried to log in, it blocked me out and advised I called the number 0345 6056050. I have tried calling for 3 consecutive days and literally nobody answers. I have also emailed but nobody replies. This is awful customer service!!! Reviewed on: 14th November 2022

Absolute Rubbish

I 'opened' a fixed term savings account. I had to wait for almost a week for a letter to arrive with my log in details despite receiving emails saying the account was open and I could pay into my account. I tried to pay in and the account wasn't recognised. I tried again when the letter arrived and still couldn't pay in. I can't log in to the account either. I have emailed and two weeks later still no reply. I emailed again last week and no reply and I have phoned today and just sat listening to the usual 'high ca volume' message for 35 minutes!! I have just put the phone down. I have tried to find a complaint form or some way of getting through to this shambles of a bank but there isn't one. Be warned - keep away from this bank. I'm contacting Martin Lewis Money about it and I shall endeavour to file a complaint with FSA. Just abysmal and I was going to deposit a large sum but no way will I have any confidence to do any such thing even if it did become possible. DO NOT USE THIS BANK Reviewed on: 14th November 2022

Reply from RCI Bank Hi Lesley, 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

Customer service (part 2)

Finally cracked it. Having been on hold for one hour 25 minutes I got threw to customer service - 'what is you full name' - I replied 'hello, is that RCI Bank?' RCI bank hung up. Conclusion - there is no customer service. Reviewed on: 12th November 2022

Customer service

At the time of writing this review, I am trying to call customer service. I have been on hold for 35 minutes. As a new customer I am wondering if customer service actually exists. Reviewed on: 12th November 2022

Impossible to get hold of

On my first log in I was logged out and needed to call The number to revise my password. After over 2 hours of calls today, they then tell me they are closed!! Disgraceful how can a business work in this way! Reviewed on: 11th November 2022

Reply from RCI Bank Hi Robert, 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

Impossible to get through on phone - trying for well over an hour.

My brand new account is locked on my first login - I've not yet paid anything in. You need to phone to unlock and this seems to be a common problem so I'm just going to go with another bank on MSE. Reviewed on: 11th November 2022

Reply from RCI Bank Hi Ralph, 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

WOW

So easy to set up,if you follow instructions by the letter all will go well and you WON'T have to contact customer services, signed up for 1 yr fixed @ 4.6% and soon as funds become available will be investing for 2yr fixed for wife. Recommended. Reviewed on: 11th November 2022

50k gone missing

I put 25k in over 2 days as per their printed instructions. Account shows zero, can't get through to anyone on the phone. Sweating....... Reviewed on: 11th November 2022

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