I like to write reviews on ciao about whats good and bad from a users point of view. The reviews a...
I like to write reviews on ciao about whats good and bad from a users point of view. The reviews also include different perspectives and comparisons ive experienced with other products and life experiences.
Member since:02.06.2001
Reviews:37
Members who trust:3
Having been a customer for a year now I have experience which I can share about thes E-bank. When I joined I was getting disgruntled with my highstreet bank so I decided to switch. I contacted Smile and the details arrived promptly. I received letters which I just had to sign and pop in pre-payed envelopes. The procedure was made very simple and the staff were very helpful. Within a couple weeks the transition was complete and I was about to find whether or not I really did have reason to smile. Further assurance was given to me by the fact it was backed by the Co-operative bank, this company is aimed at offering a standard of service to customers and the customers come first. The bank had also received a kitemark from the British Standards Institute for security. Ontop of all that they promised to repay any loss experienced due to computer crime.
The bank offers a cash ISA which is one of the best rates around (I checked) and a Visa which is also high up there(I checked). The only niggle I had with the account was when I applied for a government loan. I was asked to present 3 statements as a requirement and printoffs from the computer were not good enough. The statements had to come from head office and there was a charge of £7.50 for each statement. The online management is where this account comes into its own, I like the fact that you can carry out decisions at any time of the day so there isnt the worry of having to be at the bank for 5 o clock. After my girlfriend set-up her Smile mini cash ISA I did a transfer between accounts it took seconds to do and the transfer was immediate showing the balance on her account almost immediately and this was at 6 o clock in the evening. For me this was very impressive stuff. I know that Smile says transfers between accounts are instant but to see it was very impressed all the same. We did come across another disadvantage though just to even things out. This was that Direct debits from an ISA cost £3 to set up.
In conclusion I would say that my current account is now better managed as I have better access and control of my finances. I can also say I am receiving better service and the £500 % free is very useful. All this is ontop of a better interest rate.
How helpful would this review be to a person making a buying decision? Rating guidelines
Great stuff. I've only got the cash ISA with them but it's good to know that the rest is equally straightforward. I did actually take part in a market-research group to iron out the bugs in their sign-up software, and that's what got me interested. Their halo has slipped a tiny amount lately as according to the "Sundays", they are not quite the best % rate, but they were at the beginning of the year when I started out. Regards, Chris
Advantages: Ethical bank, good interest rates, cheap overdraft, OK site, Post Office OTC service Disadvantages: Extortionate admin and penalty charges, can't remove overdarft, seems slow
magdadh 18.01.2005 (18.01.2005)
·
Read review
Ciao members have rated this review on average: very helpful
Review of Smile Accounts
Jun 30th, 2001
very helpful by (100%):
