mogish
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JN bank
Oct 18, 2023 13:51:00 GMT
via mobile
Post by mogish on Oct 18, 2023 13:51:00 GMT
Anyone used them? Any issues? Offering 5.9 on 3 year fixed bond.
Fscs protection apparently.
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adrianc
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Post by adrianc on Oct 18, 2023 14:42:58 GMT
Jamaica National Bank, mutual. Interesting.
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agent69
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Post by agent69 on Oct 18, 2023 14:59:19 GMT
Jamaica National Bank, mutual. Interesting. Free reefer when you open a new account?
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Steerpike
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Post by Steerpike on Oct 18, 2023 16:05:46 GMT
Jamaica National Bank, mutual. Interesting. Free reefer when you open a new account? Only for the joint account.
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k6
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Post by k6 on Oct 18, 2023 17:38:37 GMT
Starling does 5.53% for 1-year fixed Saver . Also FSCS . . . just saying  |
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adrianc
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Post by adrianc on Oct 18, 2023 18:31:48 GMT
5.53% for 1yr, 5.9% for 3yr. Oooh...
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mogish
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JN bank
Oct 18, 2023 19:43:12 GMT
via mobile
Post by mogish on Oct 18, 2023 19:43:12 GMT
Ya dont theenk de are good na?
Reviews elsewhere seem positive.
Natwest seem to want a current account opened before fixed rate products can be had, close bros need uploaded ID.
So nobody has used them then?
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bernythedolt
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Post by bernythedolt on Oct 18, 2023 21:10:39 GMT
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bernythedolt
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Post by bernythedolt on Oct 18, 2023 23:02:49 GMT
Ya dont theenk de are good na? Reviews elsewhere seem positive. Natwest seem to want a current account opened before fixed rate products can be had, close bros need uploaded ID. So nobody has used them then? I avoid these time-consuming hassles by using Hargreaves Lansdown's Active Savings platform, which you might wish to look at. I suspect Raisin might work similarly and no doubt others are available. You provide your credentials just the once to HL and from that point on you can choose any of the several savings products they offer, without having to keep re-certifying with each & every company. I've used this savings platform for three years now and find it a very convenient way to blag a decent rate when it comes available. Fairly often they'll have a high, or even market-leading, savings rate on offer. To illustrate how convenient I've found it, I currently have 11 different savings accounts on the go with them, and Mrs Dolt has 10. That's one helluva lot of admin paperwork/ anti money-laundering guff/ ID proof/ t&c's hassle all instantly taken care of. There's no way I'd have had the inclination or stamina to open 21 separate standalone accounts! Disclosure: No, I don't work for them and am not associated in any way, other than being a client for several years! 
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mogish
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Post by mogish on Oct 19, 2023 6:34:19 GMT
Mr dolt, that is very helpful. I didnt realise HL offered this. I thought they only did pensions.
Great I will have a look
It was on mse I saw JN bank so guessed the must be legit. Always worth getting other opinions though.
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Greenwood2
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Post by Greenwood2 on Oct 19, 2023 8:43:48 GMT
Ya dont theenk de are good na? Reviews elsewhere seem positive. Natwest seem to want a current account opened before fixed rate products can be had, close bros need uploaded ID. So nobody has used them then? I avoid these time-consuming hassles by using Hargreaves Lansdown's Active Savings platform, which you might wish to look at. I suspect Raisin might work similarly and no doubt others are available. You provide your credentials just the once to HL and from that point on you can choose any of the several savings products they offer, without having to keep re-certifying with each & every company. I've used this savings platform for three years now and find it a very convenient way to blag a decent rate when it comes available. Fairly often they'll have a high, or even market-leading, savings rate on offer. To illustrate how convenient I've found it, I currently have 11 different savings accounts on the go with them, and Mrs Dolt has 10. That's one helluva lot of admin paperwork/ anti money-laundering guff/ ID proof/ t&c's hassle all instantly taken care of. There's no way I'd have had the inclination or stamina to open 21 separate standalone accounts! Disclosure: No, I don't work for them and am not associated in any way, other than being a client for several years! Looks interesting, they say their rates may be different from those available directly, I assume lower because they charge fees to the banks. Can you give an idea how much lower if that is correct?
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benaj
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Post by benaj on Oct 19, 2023 9:31:59 GMT
FSCS protection and PRA regulation is sufficient comfort for me to deposit up to the FSCS limit I did have a quick look at the filed accounts (year to 31 Mar 2022) for the UK company find-and-update.company-information.service.gov.uk/company/11734380/filing-historyThe costs of getting a challenger bank up and running are significant - JN showed an accumulated loss of £19.6m at that point. We also get some insight into the difficulties of choosing who to lend to when you are trying to grow the loan book at pace e.g. Note 14 from the accounts. Expected Credit Loss of £2.7m on £60m of loans. View AttachmentInteresting rating from FICS. Santander a- Nationwide a- Principality bbb JN bank b+
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bernythedolt
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Post by bernythedolt on Oct 19, 2023 13:58:43 GMT
I avoid these time-consuming hassles by using Hargreaves Lansdown's Active Savings platform, which you might wish to look at. I suspect Raisin might work similarly and no doubt others are available. You provide your credentials just the once to HL and from that point on you can choose any of the several savings products they offer, without having to keep re-certifying with each & every company. I've used this savings platform for three years now and find it a very convenient way to blag a decent rate when it comes available. Fairly often they'll have a high, or even market-leading, savings rate on offer. To illustrate how convenient I've found it, I currently have 11 different savings accounts on the go with them, and Mrs Dolt has 10. That's one helluva lot of admin paperwork/ anti money-laundering guff/ ID proof/ t&c's hassle all instantly taken care of. There's no way I'd have had the inclination or stamina to open 21 separate standalone accounts! Disclosure: No, I don't work for them and am not associated in any way, other than being a client for several years! Looks interesting, they say their rates may be different from those available directly, I assume lower because they charge fees to the banks. Can you give an idea how much lower if that is correct? Yes, that's where their fee derives from (and they are up front about that). It often means a fractionally lower rate than you'd get by going direct, but I consider that acceptable for the convenience. When I checked last night, the Coventry limited access account I'd opened via HL at 5.08% was paying 5.2% if you went direct. But I couldn't face the extra hassle, so wouldn't have opened an account that way. Sometimes, however, HL's rate is actually market leading, which is worth watching out for. I always compare their rates against the best rates published daily by MSE and then judge whether (1) the convenience of opening a new account, and (2) having all accounts bundled together in one convenient basket, outweigh going directly. www.moneysavingexpert.com/savings/savings-accounts-best-interest/My view is this. If I have £5,000 to invest for a year, 5.08% via HL will return £254 interest (before tax). Going direct would have returned £260. My time saved in not having to step through all the hoops every time is worth more than £6 to me. Obviously the size of your investment will determine your own decision here. The rates available change almost daily and Raisin right now does look more competitive, so I must give them a closer look. Don't underestimate the convenience of having all your fixed savings accounts under one umbrella. I can see at a glance which are about to mature, so, over the years, I've managed it such that our different accounts mature fairly regularly during the course of a year. This makes cash flow easier, but means you get the higher rates associated with fixed (rather than low rate instant access) savings while still enjoying regular access to funds. The ideal I'm working towards is to have one fixed rate savings account maturing each month... on a regular cycle. This is achievable because they (sometimes) offer savings terms of 1 month, 3 months, 6 months, 9 months, 1yr, 15 months, 18 months, etc, so a bit of careful juggling can get you there.
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