Review Time
The Dope is, of course, the customer in Aldermore's eyes. Opened a single access Cash ISA about three weeks ago and Aldermore has now reduced the interest rate. Nothing wrong with that, they said base rates had reduced, so they lopped 0.25% off the rate. Fair enough EXCEPT, they then open a new "Issue" of EXACTLY the same account at a better rate than the previous issue. It's just underhanded and dishonest behaviour. Voted with my feet and moved the money onwards to another institution. Just make sure you check the interest rates you are getting compared to their current rates. If they are worse then express your displeasure and move to another savings provider. I hope this helps those that read it.
This is not a review regarding lowered interest rates - this is to be expected with all financial institutions at the present time.It is not a review about customer service - each time I have spoken to advisers they have been helpful and more than polite: thank you.I am writing this review because both my husband and myself have a Reward Isa with Aldermore, and are fed up of having to jump through hoops to achieve what we want to do: eg a)how to request a transfer into our Aldermore ISA's from another provider. b) actual logging in is virtually impossible - the website fails to recognise our carefully inputted details, and we then have to wait days for a letter containing a code to reset our password. Today I managed to login on my phone without problems, but failed to find the info I wanted. The CS Advisor told me to clear cache and cookies on the laptop, as stored cookies can sometimes prevent login. This had been done yesterday anyway.Doing anything with Aldermore is time consuming and extremely annoying, bearing in mind we live in a digital age, and waiting for postal comms is unnecessary - other financial institutions use a combination of PC and phone to provide/receive codes for security.As soon as we are able, we will transfer out of Aldermore to a different provider.
No different than all the other rip off savings providers, opened a 60 day notice isa paying 4.30% then 8 weeks later rate reduced to 3.90% so moved my savings to their reward isa paying 4.15% then 2 weeks later they reduce that rate to 3.90% now its the same rate across all their isas,🤔 i don't know why I bothered saving with them, may as well put money into a easy access account and still get 4.41%.
RebekahHas been absolutely excellent after my illness,explained everything,then also went to the trouble of documenting our conversation and future options for me to keep in file.Through some really difficult times the team at Aldermore have been extremely professional and understanding.
17 weeks after a complaint was made and 3 weeks after a final response was received endorsing my rejection of a faulty car - and I still cannot get a returned phone call with a confirmed date when the car will be collected and my money refunded!Strange, if I had missed a payment, I am sure I would be contacted exceptionally quickly.
BTL Interest rates are terrible, absolute rip off, the discounted rate they are offering existing customers today is 6.23% which is only 0.20% lower than it was offering 2 years ago even though base rate has dropped 1.5% !! It shouldn't be allowed.
30 days to review application and was rejected because they took longer than expected, not because the documents supplied were not valid. No communication at all regarding the progress of the application. Had to call customer service many times. They have now asked me to apply again, which I am not going to do after the interest rate dropped. Paragon Bank is a much better competitor.
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We launched Aldermore in 2009 to help those with ideas, big or small, with the courage to take their own paths.
From farmers to freelancers, our specialist lending and savings accounts can give you the support you need to help make things happen. We are here for those with ambition, because your success is our success.
We call it banking for the bold.
To get in touch, follow this link:
www.aldermore.co.uk/help-centre/contact-us
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