Icesave Online Savings Review

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Icesave Online Savings
3.2 stars
Average rating for this product is: 3.2 out of 5

From 8 ratings and 36 reviews

Thumb up 67% of users recommend this product

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westcountryboy's Review of Icesave Online Savings

22nd Apr 2008

Overall Rating

1.5 stars
  • Value for money
    1.5 stars
  • Type Of Account
    Easy Access
Good Points

Good rates, website generally works well


Bad Points

Long hold for telephone customer services
Poor information on website


General Comments

I opened an account with Icesave on line on 2nd April. I then rang them to find out how to get money into the account. I was told about the various methods, BACS, CHAPS, cheque etc but nothing was said about what I should use considering how close I was to the end of the tax year. There was also nothing on the web site.I chose to set up a direct debit from my current account as this was the cheapest method. I then finished the online process and applied for an ISA for 2007/9.
Sure enough a few weeks later I received a letter saying they had set up an ISA for 2008/9 because they could not open the account until they had received the money.
Very poor communication from Icesave here has cost me a whole years ISA allowance.

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LenderAccountDescriptionInterestAEROverdraft  
Overdraft RateOverdraft Limit
AbbeyDirect ISASave from just £1 to receive 2.00 AER (variable) tax free.Annually2.00%N/A