I had a Woolwich Card Saver account which I opened a few years ago because it seemed like a great idea. The premise was that you managed your account via the cash machines and that it offered a high interest rate because of this. I found it extremely inconvenient and the interest rate wasn't that great. The problem was that I couldn't pay any money into the account because I was working at the time and couldn't get to the bank in order to get the envelopes needed to pay money in at the cash machine. This negated the point of me managing my account in this way and I had since discovered a much better way of banking and a much better account paying a higher rate of interest. Cheltenham & Gloucester offered a phone account that was linked to a cheque account and this is what I use now. The Woolwich Card Saver account was a nice idea, it just didn't quite work for me.
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Advantages: Quite a few branches and a couple of good accounts Disadvantages: You need to actively moitor your accounts - they will NOT do it for you. They are only out to make a PROFIT
CareBear 02.03.2001 (05.03.2001)
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Review of Woolwich Accounts
Advantages: Flexible Open Plan Mortgage can earn good interest which can reduce the mortage. Disadvantages: Setting up the account took forever to the point of getting close to loosing the property. Got some compensation though.
bunicadoca 01.09.2006 ·
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Review of Woolwich Mortgages
Advantages: Payoff chunks of mortgage whenever you want. Offsetting saving accounts, interest calaculated daily Disadvantages: Can be tempted to borrow to the max
odtaa 07.11.2008 (07.11.2008)
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Review of Woolwich Mortgages
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Oct 3rd, 2000
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