... I chose to open a Sainsburys Bank account a couple of years ago and I have nothing but praise for them so far.
Paying in and withdrawing your cash is easy peasy.
Paying in is via post (pre paid envelopes are provided), direct debit or Bank Giro Credit from another account.
The Sainsburys ... Read review
Advantages: Easy to administer, good interest rates Disadvantages: None
...I chose to open a Sainsburys Bank account a couple of years ago and I have nothing but praise for them so far.
Paying in and withdrawing your cash is easy peasy.
Paying in is via post (pre paid envelopes are provided), direct debit or Bank Giro Credit from another account.
The Sainsburys account does not provide a chequebook as it is primarily a savings account but if you have an ordinary chequebook account ... ...with Sainsburys is easily accessible at the Royal Bank of Scotland ATM machines.
The rates of interest as at 9th May 2001 are as follows: -
Up to £2,499 3.35%
£2,500 to £9,999 3.60%
£10,000 to £24,999 3.75%
Over £25,000 4.10%
You can choose to have the interest credited to your account monthly, at the end of each calendar month or annually on the last working day in February each year.
... more
When I first started using the Internet and earning a little extra cash here and there I decided to open a new savings account and put this money away so that it would mount up. I chose to open a Sainsburys Bank account a couple of years ago and I have nothing but praise for them so far.
Paying in and withdrawing your cash is easy peasy.
Paying in is via post (pre paid envelopes are provided), direct debit or Bank Giro Credit from another account.
The Sainsburys account does not provide a chequebook as it is primarily a savings account but if you have an ordinary chequebook account elsewhere this does not pose a problem. The money invested with Sainsburys is easily accessible at the Royal Bank of Scotland ATM machines.
The rates of interest as at 9th May 2001 are as follows: - Up to £2,499 3.35% £2,500 to £9,999 3.60% £10,000 to £24,999 3.75% Over £25,000 4.10% You can choose to have the interest credited to your account monthly, at the end of each calendar month or annually on the last working day in February each year.
The statements are produced every quarter, but balances are available at the Royal Bank of Scotland, which is where withdrawals are also made.
Having looked at other banks and building societies these rates are very favourable when you take into consideration that this is an instant access account.
I also get free telephone banking, which means I can ring at any time to get a balance and a list of current transactions. This is an automated service (although you can speak to someone if you need to) so it's quick and easy. You can also use this service to request paying in books, notify a change of address, and request money transfers, or report a lost or stolen cashcard.
Sainsburys even offer 1,000 reward points, equivalent to £5, if they make any of the following mistakes on your account: Print the wrong name on your Sainsburys cashcard Print the wrong name on your paying in book Address the statements incorrectly Don’t reply to a letter from you within 3 working days Make a mistake with any charges on your account
The only 'problem' which I have had so far is when I wanted to transfer a larger amount of money into my current bank account at First Direct, i.e. more than I could withdraw from the ATM machine. I needed to do the transfer overnight and I was charged for this service. If I could have given a couple of days notice it would have been free of charge.
I realise that this is quite a short opinion in comparison to my usual ones but this is effectively an account which is simple to administer and which has good rates of interest – nuff said!
Advantages: Simple to use, set up, 24 hour service. Disadvantages: £250 maximum withdrawal, no branches.
I don’t want to sound old at twenty-four but I remember the days when a trip to the supermarket was to buy bread, milk, butter and eggs but now it seems that you can buy everything from clothes, televisions, computers and even financial services. If you’d ever told me ten years ago that I’d start banking with a supermarket I’d have laughed all the way to the fruit and veg aisle – it just wouldn’t have happened. Yet roll on 2003 and I am the owner ... ...The reason I signed up to this bank is that (as those of you who have read my other reviews might recall) I have had a few problems with banks of late and have been in the process of moving my accounts around. The Sainsbury’s account is one for my savings, for holidays and the like, just to keep it separate from my monthly outgoings and trips to the pub.
Signing up for the account is easy. You can either log on to sainsburysbank.co.uk, phone 0500 ...
Benniash 12.08.2003
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Ciao members have rated this review on average: very helpful Review of Sainsburys Bank Accounts
Advantages: Competitive interest rates Disadvantages: You can only withdraw £250 per day
I've had my instant access savings account with Sainsbury's bank for around 3 years now and I'm very impressed. Youn only need £1 to open an account and the interest rate is extremely competitive when compared with ordinary high street banks (currently around 5%). As the name of the account suggests you can access your money instantly from any Link machine so it's not hard to get hold of your money as, lets face it, there's a Link machine on evry ... ...£250 per day. You also get to choose the colour of your cashcard! You can either orange, green or blue.
Deposits can be made by posting a cheque (they will provide you with prepaid envelopes) or by setting up regular standing orders. You can access your account 24 hours a day using telephone banking. The phone number is free and the service easy to use. If you do experience problems then it's easy to get hold of a customer service adviser.....I ...
JoMerrington 24.04.2001
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Ciao members have rated this review on average: helpful Review of Sainsburys Bank Accounts
Advantages: Quick to open and high interest rate Disadvantages: Poor ongoing service and access problems
...for some time and saw Sainsburys Bank as a new option. Whilst there was no actual incentive to open an account with Sainsburys (reward points etc), I thought I would give it a go as the interest rate offered was quite high in comparison with others. Opening the account was relatively simple and they sent me the information and paying in envelopes quickly afterwards. HOWEVER, 4 weeks after opening the account, I am still advised by Sainsburys that ... ...is "not yet active". Coupled with the fact that there are so many security questions before you can get onto your account home page (which are capital letter sensitive - so remember how you typed it initially!), I would not recommend the bank to other users. Go for a Lloyds TSB saver instead - they have a similar rate of interest and the account is much more user-friendly! ...
princemoosie 22.09.2006
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Ciao members have rated this review on average: helpful Review of Sainsburys Bank Accounts
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4. You can Save Back, take money from your debit card, as you pay for your shopping and have it pad directly into your savings account
You can manager your account in several ways too. For months I didn't really "manage" my account, I just let the money trickle in and looked at my statements when they came through the post. To me this seems to be the easiest way to "manage" your account.
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Expired-Account 23.11.2007 (23.11.2008)
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Advantages: Reasonable interest rates Disadvantages: Poor and insensitive customer service
I opened a Sainsbury's Bank internet Saver over a year ago and I left a small amount of money there intending to add more later but the interest rate dropped soon after I opened it and I never bothered. Earlier this month I decided the time had come to find out how much was in the account and close it. That was when my troubles really began! I couldn't log on and all those questions about favourite singers etc just confused me and I was locked out of my account. I phoned their 'helpline' ( what a misnomer this is) and they wanted to know how much I had in the account. My pleas that this was why I wanted to log-on in the first place fell on deaf ears. I was then asked a question I couldn't understand and another about when I had opened the account. I had expected to be asked my date of birth, address or one of the memorable or secret ...
