Are the High Interest Rates Worth the Hassle? (Abbey National)

Member Name: WhiteMarion

Product:	Abbey National
Date:	19/07/09 (214 review reads)
Rating:

Advantages: V G interest rates. Branch Staff.

Disadvantages: Rude/Unhelpful/Difficult Telephone Banking staff.

I have opened 2 saving account with the Abbey online and I can only describe the experience as interesting. I opened both of these savings accounts simply because their interest rates were higher than other high street banks. I used the online account application service on the internet which I found to be well laid out and simple, quick and easy to use.

The problems with my first account started when I had to get information out of them regarding a passbook for the account. Their telephone help lines were terrible. From the start of every conversation I almost knew that I wasn't going to get a satisfactory answer. Some of the staff I spoke didn't even seem to know the product they were trying to help me with and in some case they were quite rude and abrupt. It turned out after four telephone conversations with staff that there was no passbook with this account. Now, maybe I should have known this when I opened the account but I would have thought it would have been a fairly simple question for any bank staff to answer and certainly not four telephone conversation worth of a query.

After the high interest rate for this account had finished I closed this account which was a fairly painless experience and quickly switched my money to another bank account. I did note the interest rate was good and the interest had been added correctly. I don't usually check the interest on my account but I felt it was needed in this case as from my experiences I was left with little faith in some of the staff's banking ability.

Earlier this year I was tempted back to Abbey by another high interest saving account this time it was an instant access one with a debit card.

My main problem with this account was trying to receive my savings card. For some reason my account card was sent to a branch for my pickup. I understand that it might be necessary to send my card to a branch as it is a function of me saying that my letter box is shared even though this is with my fiancé. What I don't understand is why it got sent to a branch which was nowhere near my home? Infact, I think there are three or four branch's which are closer. I tried to get the card sent to my house advising them of my situation but they refuse to help and so I ended up having to waste a Saturday morning trekking across Edinburgh to find this branch.

On a slightly brighter note the staffs in the two branches I have been into have been lovely and happy to help with any queries I have had. I have nothing but respect for them as I believe they would get a great deal of complaints especially because customers are left so confused by the telephone banking staff.

The bank has recently become part of the Santander group so I hope the first thing they sort out is the telephone help lines.

~~Conclusion~~

I apologise if this review seems like a bit of a rant but I have never really been made so angry by a banking organization before, having said that the reason you choose a savings account is to try and get the most money from interest as possible. Abbeys account did this at the time but they certainly made me work for it. Is it worth the hassle? Only you can decide but I hope this review helps you make up you mind in some way.

Summary: A bank that makes you work for your money!