| Ease of Use | 4.5/10  |
|---|---|
| Value for Money | 5.5/10 |
| Reviewer Rating | 5.5/10 |
| Overall Rating | 4/10  |
By moneywiz
on 13th Feb 2008
| Used service for | 0 - 6 Months |
|---|---|
| Ease of Use | 2/10 |
| Value for money | 4/10 |
| Overall value | 4/10 |
 moneywiz's recommendation | |
Thought their internet interest rates were competitive. I wanted primarily a savings account.
Problems in setting up the account initially.
I have to say I really do not feel comfortable with this account or with Newcastle Building Society. I almost feel they are on a learning curve with internet accounts and I am somewhat un- nerved by the problems found so far. In the meantime I hope my money is actually in safe hands. I am currently looking for a different home for my savings. Wrong passwords issued. The 'welcome' email was particularly confusing and was not account specific. You had to work out what your account was and what bits of the mail applied to you and therefore what you had to do to activate the account. I got it wrong !. Telephone operator confirmed they were having a number of problems with passwords and that they had complaints about the confusing ' welcome email' .
Difficulty in understanding the on line account 'statement' . They use the word 'processed' against transactions which to you and I means ' complete ' . But not to Newcastle Building Society. To them it means 'may be complete ' or 'may not be complete'. Very confusing as I truly do not understand what is cleared, when things are due to clear, and what is not clear. I do not know what my cleared and usable savings are. There is room for considerable improvement in the statement layout and the use of clear English for describing the precise status of a payment or receipt.
Disappointment at inability to answer questions via email. Several questions put to them by email with standard reply that I will have to telephone for an answer despite the fact no security issues were involved. So not strictly an internet account as you still have to pick up the phone regularly.
Inconsistency between email replies you do get and the telephone advice given. Also the fact that telephone operators are not able to see the same page as you may be looking at on line. eg. their 'definitions ' page may contain similar definitions to those on line but they have a different layout which makes it difficult when you are trying to focus them in to a particular item. "look at item 7" ......... "sorry I only have bullet points - what is item 7 ? "
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