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RCI Bank: Freedom Savings Account reviews

View other RCI Bank products
4.89
Based on 10,370 reviews, last reviewed 15th Mar 2026
290900% increase in 5 star reviews
in the past 90 days
400% increase in 1 star reviews
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Latest highest rating:

5

Freedom - good name for the RCI account RCI is good with communication updates and at keeping informed of updates to the account, competitive rates, rate changes down and up, reliable uncomp... Read more Reviewed on: 15th March 2026
JR's avatar
JR

Latest lowest rating:

1

I recently told RCI bank about an illness I have and... I recently told RCI bank about an illness I have and wanted to close my accounts. I was told my money would be in my nominated bank account by the clo... Read more Reviewed on: 12th March 2026
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T S
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About this product

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.

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RCI Bank Freedom Savings Account reviews (10370)

Very hard to access online

1
We have to change passwords every time we access as the system cannot recognise the last password we used; very time consuming. Interest rates are low so why bother with a bank who's IT is so inefficient? Reviewed on: 10th June 2017
Anonymous's avatar
Anonymous

Highly inefficient

1
They took 30 days to open my account, then sent me an email that I must transfer money to the account within 30 days after applying to open it (i.e. on the very day the email was sent), but they never sent me my online login details. 10 days later I received a letter with the same content as that email. I immediately called them, asking when I will receive my login details. They said they closed my account because I didn't use it and they will not re-open it but I shall apply again for a new account. NO THANK YOU. Don't waste your time with this bank! Reviewed on: 20th May 2017
C Mueller's avatar
C Mueller

Saving made Simple!

4
It was easy to set up a savings account with RCI and their online support is very good. Despite the recent changes in saver rates, they still offer a very competitive product and for this reason, I have been saving with them for almost 2 years. It is easy to access and transfer my savings and I would have no hesitation in recommending them to others. Reviewed on: 7th May 2017
Jane Hanson's avatar
Jane Hanson

5* Banking

5
While RCI accounts can be difficult to log in to, saving with them has allowed me to save more money than previously. The interest rate is only slightly higher than my other savings account (Natwest)- but being attached to my current account, I find it much too easy to remove money when my funds appear low, only to never put it back in. Using a different service means my money is left well alone, but I am convinced the great customer service will make it easy to remove my money when the time arises. Reviewed on: 2nd March 2017
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Molly Lyon

BEST OF THE BEST

5
Simple easy access account with the best rate out there.Easy to set up and manage. Reviewed on: 24th December 2016
Steve Ballard's avatar
Steve Ballard

So far so good...

3
I opened my account in Nov '15, and so far no issues. With regard to previous reviews, my understanding is that the requirement for a registered account is fairly obvious - it's where an online savings bank accepts a deposit from, but more importantly, it's where they return a withdrawal to. This, to my mind, keeps things simple and secure (for both parties). With regard to interest rates, I also opened at 1.65%. And whilst there have been a couple of reductions along the way, these were small and not wholly unexpected, given the prevailing financial climate - and were well communicated in advance by the bank each time. With regard to the larger drop from 1.45% to 1.2% in particular, this was a direct result of the BoE halving the base rate from 0.5% to 0.25%. This impacted similarly upon savings rates across the board, therefore (I feel) it is probably unfair to use this as a stick to beat RCI Bank with within a review..! Reviewed on: 5th October 2016
S Sadler's avatar
S Sadler

Easy usage

4
Easy to set up and online but need a linked account to pay in/ withdraw not a big problem however. The one downside like listed already is that when I joined at a 1.45% interest paid per annum (1.44% if paid monthly) at the beginning of July the interest has now been lowered to 1.2%. Reviewed on: 31st August 2016
john's avatar
john

If you want a teaser rate...

3
Moved to RCI in October 2015 when they were offering a rate of 1.65%, it was then lowered to 1.55% in January and has now been lowered to 1.45% (March), pretty disappointing really, the number of changes per year s/b limited. Also, you can only pay money in from a registered account, i transferred money from another account to RCI and it was rejected, taking 2 days to re-appear in my original account, not ideal. Reviewed on: 28th March 2016
jack1986's avatar
jack1986

Good rate

3
Easy to open account online and the interest rate is better than most. Cannot comment on customer service as it has not been needed. These are a foreign bank so have a different protection scheme for money Reviewed on: 28th March 2016
val's avatar
val

Instant access savings

5
Just opened a savings account with RCIbank as it has the best rate of interest around so far for instant access. I had some issues with passwords etc which were of my own making but the bank dealt with them patiently and respectfully. All is up and running smoothly so far with interest shown monthly. Reviewed on: 1st March 2016
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Peter Smith

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