RCI Bank Freedom Savings Account Reviews

Ratings based on 35 reviews Last review 3 months ago

RCI Bank savings reviews can help you to find out more about life at RCI Bank. How easy is it to contact RCI Bank? And how friendly are they? Our RCI Bank savings reviews can help you to find out information like this. Smart Money People is an...

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RCI Bank savings reviews can help you to find out more about life at RCI Bank. How easy is it to contact RCI Bank? And how friendly are they? Our RCI Bank savings reviews can help you to find out information like this. Smart Money People is an independent source of honest reviews.

5 14
4 3
3 4
2 2
1 12

Your Freedom Savings Account Reviews (35)

25th June 2020

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...

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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

17th June 2020

"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...

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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.

5th June 2020

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...

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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

19th May 2020

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...

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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

18th May 2020

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...

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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!!!

26th May 2019

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...

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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

8th April 2019

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...

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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.

21st August 2018

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...

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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.

21st August 2018

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...

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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.

18th July 2018

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 ...

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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

20th June 2018

A second review..

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

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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.

26th April 2018

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...

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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.

3rd April 2018

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...

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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

10th March 2018

Good rate, but terrible login process

While paying the best instant access savings rate at the moment this comes at a price. Opening the account is very laborious and, as other reviewers have noted, you seem to get multiple emails requesting you send in ID documentation when you have...

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While paying the best instant access savings rate at the moment this comes at a price. Opening the account is very laborious and, as other reviewers have noted, you seem to get multiple emails requesting you send in ID documentation when you have already done so. Then suddenly, after quite a delay, the account is open. They also must have the worst login validation system ever developed by a bank. It simply does not remember your password. Glad to read that it is not just me that seems to have this problem. I’ve never experienced a system like it.

20th February 2018

Logging in

I logged in 22 January re a withdrawal. No problem. Then this weekend tried to log in to check my balance. A nightmare. It didn't recognise my password. I got a new temporary password. Upon logging in it now told me my User ID was incorrect! It's...

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I logged in 22 January re a withdrawal. No problem. Then this weekend tried to log in to check my balance. A nightmare. It didn't recognise my password. I got a new temporary password. Upon logging in it now told me my User ID was incorrect! It's sorted now after the weekend but I do wonder if I'm going to have this problem recurring in the future. I worked in banking all my life so it's not as if I was illiterate re this sort of thing. Lovely staff but the system could be easier.

5th February 2018

Very Poor, avoid if looking for a decent bank

opened account in December, sent proof of address, then don't hear anything for a month. Letter arrives asking for further proof of address. I sent further evidence which was accepted and was told to wait for account opening. Heard nothing for a...

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opened account in December, sent proof of address, then don't hear anything for a month. Letter arrives asking for further proof of address. I sent further evidence which was accepted and was told to wait for account opening. Heard nothing for a further 2 weeks, called them and they said because it had been over 30 days the application had been closed. Time wasters. No apology. Will not be opening an account.

4th December 2017

The Worse Bank

Based on my own experiences, RCI has the worse customer service. They provided me with false, inaccurate and misleading information. When I complained, they simply avoided the real issues, made cheap excuses and failed to respond to the specific...

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Based on my own experiences, RCI has the worse customer service. They provided me with false, inaccurate and misleading information. When I complained, they simply avoided the real issues, made cheap excuses and failed to respond to the specific issues and questions raised.

28th November 2017

Tries to make headlines.

Although they made a 0.10% increase before the BOE 0.25% rise, THEIR SILENCE HAS BEEN DEAFENING SINCE. The Coventry Building Society has announced a full 0.25% increase on its online saver account from 01 december 2017. Let's hear something from you...

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Although they made a 0.10% increase before the BOE 0.25% rise, THEIR SILENCE HAS BEEN DEAFENING SINCE. The Coventry Building Society has announced a full 0.25% increase on its online saver account from 01 december 2017. Let's hear something from you RCI, even if you tell your own advisers that the rate is under review!!!!!!

18th November 2017

Does what it says on the tin

On my way to being 80 years old and two years ago had no problem setting it up on the Internet and have never had a problem logging in. Have contacted them twice by phone and not only were they helpful, but also they were clearly from up Newcastle...

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On my way to being 80 years old and two years ago had no problem setting it up on the Internet and have never had a problem logging in. Have contacted them twice by phone and not only were they helpful, but also they were clearly from up Newcastle way and could understand my Midlands accent. Yes the rate has often gone down, but they quickly inform you if rates are moving upward.

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