Chetwood Bank Reviews

Very happy with my experience. Chetwood answered the phone quickly for me to check a couple of points. Account opened and funded very easily on line; they emailed back to me within two hours on each occasion to confirm funds in place, but do ensure you transfer funds exactly as they ask you to. I don't normally post reviews, but it all seems to work just as they promised in their 'blurb'; wonderful!

Set up a fixed 4.5% saving account via martin lewis money saving expert website. Transfered £1 over from main bank account. Transfered into Chetwood Bank account within 45 minutes. Then transfered a £4999 over. Did not receive a email to say money had been transfered in the hr, so went to log in. When I tried to log in, came up password and user information not valid (will not even let you change password). I have not had a email since yesterday from Chetwood bank confirming the second payment. Cannot get in touch until monday 8am via phone. Anybody had this problem.

Completely wasted my time applying for a 1 year fixed savings account with this company. Applied online and two days later they advised me they couldn't open an account as they couldn't verify my information! No reason given. This was despite completing an in depth online form. Never had an issue like this before, with other companies. Don't waste your time with this mob!

Easy to use and ready available money if required

Clear, friendly, efficient service. A pleasure saving with Chetwood Bank.

Pros and cons, in that order: Easy to see transactions online 14 days notice of an interest rate change Secure login process Given the faster payment service the slow withdrawals, ie 24 hours on a working day which for now ludicrous reasons is applied as MON-FRI while we operate 24/7 7/7 means a loss of interest as the withdrawal is applied immediately. Very slow account closure & application of accrued interest. Again this is slow even compared to 1990s banking. I had two accounts to close, which for no good reason required two separate secure messages, but only one was acted upon so I had to repeat the tiresome process.

Survey sent by Chetwood Bank was badly designed/programmed but the products from the bank are valuable and highly valued - keep up the good work and don’t cut interest rates too much

Great service from start to finish. Easy to set up and manage

Easy to open the savings account

Easy to open an account, good rate of interest, intuitive online banking

I have an existing account and only wished to transfer my easy access account to a fixed rate account. The facility to do this immediately was not available so I had to apply for the new account. This seems long winded. Perhaps systems need to be reviewed to help existing customers. However I was very pleased with the help and care provided by Andy to achieve this.

Excellent. I read the reviews first and was interested by some of the negative comments so I thought I’d provide my feedback. I have numerous accounts with smaller savings providers who operate similar systems. They are not a clearing bank and so you send your money to the bank’s account with their bank, in this case Barclays. You state it’s a business account and then put your unique account reference in so that your funds can be identified. This is perhaps unusual for some people but I have used systems like this for many years. Then there is the linked account requirement. Again this is something I have been used to having for many years with other smaller providers. It’s actually a good security feature as that is the only account you can also withdraw funds to. The next day credit of funds if you withdraw is also operated by other smaller providers and is because of the use of a larger clearing bank for withdrawals and deposits. As an aside, all banks quote “up to 48 hours” for a faster payments credit to allow for security checks and system issues. I opened 2 accounts: 1 yesterday and after the swift opening and credit of my funds, a second account today. I also phoned to check deposit cut off time and received an excellent response from Lauren (thank you). I am very happy with Chetwood Bank and as someone who was head of audit at a well know financial institution, I have no issues with the set up. However, if you don’t like the idea of - a linked account, business account through Barclays, credits one day later, don't open an account.

I just learned Chetwood Bank do not supply Tax certificates on their savings accounts. Why?, its such a small, teeny weeny service to offer. This means when you are preparing your self assessment tax return, you have to download and faff about with downloading data into an excel spreadsheet to prove the amount of interest received. This is the first time in my experience I have discovered this, in over twenty years of making self assessment tax returns and using savings tax certificates to do so. As a relaitively new bank you seem to have much to learn, do you really think making a customers' life more difficult helps with customer retention?

Wanted to close my account because of the low interest rate. According to Chetwood, the only way to do this is zero balance your account, and wait for monies to be credited to your nominated account (next day), then wait an extra day for interest up to closure. Why cant the whole amount be paid next day? It gets worse, im now told via telephone that the interest payment might now take an extra two days to be paid to my nominated account . Looking at other reviews, it seems this withdrawal problem is common. With hindsight, the best time to close an account is the day after monthly interest is paid into your savings account.

My partner had a struggle logging into her account this morning and used the chat service to contact Chetwood. After answering security questions, Andy from customer service,resolved the matter within a few minutes.

Very easy to open my account but reassuringly secure. A good rate of interest (paid monthly on.easy access accounts). Website is clear and easy to navigate.

Very clear application form, great customer service. Felt confident investing for a competitive interest rate.

Application was easy. Competitive interest rates.

I am fed up with the constant requests I receive for "feedback" and "reviews". As I tell every firm/company trying to waste my time on such stupid nonsense ---- if I am NOT satisfied with their service, they will definitely be told as much in no uncertain terms. There should be no necessity to praise them for good service which, naturally, I expect.

Easy to open account. great rates for savers