I was thinking of opening a fixed rate account with Conister Bank UK as their recent 9 month rate offering (4.7% AER) was very good. And then I saw the awful reviews on here and on other review sites. Nevertheless, I thought I'd start an application in case they had improved since those reviews were written. When I got to the request for a UTR, with an asterisk by it with no corresponding explanation, I concluded nothing had changed. I just put in my NINO and they seemed OK with that! I ploughed on. I paused again when it asked for my employment status. As I had been retired for nearly 20 years I was astounded to be then asked for details of my last employment including start and end dates. Totally ridiculous, but I made something up and that was OK with them too! I did eventually get to the end of the application and managed to get it accepted and to register for their online portal. It’s almost as if they had taken an old fashioned and long winded Isle of Man paper based manual application form and just computerised it without attempting to improve the process. Along the way, I received a number of emails from them titled, variously, “Member Onboarding” and “Customer Onboarding”. Why can’t they use plain English? At no stage did they say how to fund the account eg payee, sort code, account number and reference details. I had to send a secure message requesting the details. The response I got was extraordinary – they would look into it and let me know. Their T&Cs are inconsistent on how long you have to fund the account. In one place it says you have 30 business days and in another 30 calendar days. That’s around 2 weeks difference! Finally, when I logged on and saw my account (an interim easy access account from which they move funds to the fixed rate account) the first 4 digits of it were crossed out. Why do funds have to go via an interim account at all? And why is half the account number crossed out? Is their portal insecure? I have fixed rate bonds with many UK banks and, in every case, opening an account online was quick and easy and the information provided upfront by the bank comprehensive and consistent. I have decided to put my money elsewhere. Apart from the fact I’m not going to leave money lying around earning not much while Conister gets its act together, I have little confidence they would handle my account well. All I can say to Conister is you have a long way to go, and you will have to up your game hugely, if you want to be successful in the ultra competitive UK savings market. Incidentally, 3 days after launching the 4.7% rate it went down to 3.18%. Maybe they had 100 applications and struggled to cope. What a farce from this amateurish organisation.
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We offer financial solutions across the Isle of Man and the UK, helping customers achieve their goals with trusted, flexible banking services. With a legacy of trust dating back to 1935, Conister Bank is proud to be an independent institution committed to personal service and long-term relationships.
Our expertise covers a wide range of financial products designed to support both individuals and businesses. We provide personal and business finance, high-interest savings options, SME and corporate lending, asset finance, mortgages, bridging loans, block discounting, and secured credit facilities.
At Conister Bank, we believe in more than just transactions - we believe in partnerships. Our customer-first approach means we take the time to understand your ambitions and provide the financial support that makes a real difference. Whether you’re planning for the future, growing your business, or navigating new opportunities, we’re here to help you succeed.See more
