I've been using an IceSave Savings Account for about two months now and I've had a lot of people asking what I thought of it, so here's a review of the product and my impartial opinion.
The BankThe IceSave account is operated by a subsidary of Landsbanki based in Reykjavic, Iceland. It is regulated by the Financial Services Authority so if the bank goes bust, you can recover 2000 and 90% of the next 33'000 under their compensation scheme. However, Landsbanki is a well-established (and the oldest) bank in Iceland, so bankruptcy is very unlikely. They also subscribe to the Banking Code, which creates, ensures and enforces fair dealing and good banking practices to consumers.
The AccountThe two main reasons I opened an IceSave account were its fantastic interest rate (currently 5.45% gross, 4.36% NET for basic-rate tax payers) and the guarantee that the interest rate would stay at least 0.25% above the Bank of England base rate. The base rate increased to 5.25% this week, which means the IceSave interest rate will go up to at least 5.5% very soon. The guarantee lasts until October 2009.
You can opt for interest to paid monthly which reduces the gross interest rate to 5.32%.
The IceSave account is open to all UK residents aged 18 or over for savings between 250 and 1 Million.
It is an online savings account, so you don't receive much post from them and can view transactions 24 hours a day.
Opening an AccountTo open my account, I simply visited their website and filled my details into their online application form. I also set up a Direct Debit with them for transferring funds to the IceSave account from my current account.
A few days later, I received my welcome pack and login details and went straight to their website. I logged in and changed my account so it paid interest monthly before setting up a small Direct Debit of 300. Just under a week later, the money was in my IceSave account so I transferred the remainder of my savings over, which again took about 5 days.
Online BankingThe login procedure for IceSave's online banking consists of two parts. Firstly a username and password is required (this is sent through the post when you open an account). Secondly, you have to select three characters from either a memorable name, date or place (you choose these when you are opening an account).
The first screen after logging in shows your current balance and has links to view your statement, change your details, make a transaction or log off. The interface is simple and uncluttered and very easy to navigate. Performing any action is pretty much self-explanatory.
ConclusionOn the whole, my experience of the IceSave account has been a good one. I've experienced no problems, transactions have been quick and operating the account is painless. I've never had to call up customer services, so I can't comment on that however, I did have a small query that I sent them via e-mail that took about a week for them to respond to. I would have expected it to be quicker but that is my only gripe.
I'm very happy with my IceSave Savings account and expect to continue using it in the long-term.
Arkad
iAutoblog the premier autoblogger software
沒有留言:
張貼留言