High interest for current account (smile.co.uk)

Member Name: abulkalam2001

Product:	smile.co.uk
Date:	22/09/00 (459 review reads)
Rating:

Advantages: decent rate of interest

Disadvantages: cannot see any

I have been banking with smile for the last couple of months.

Like most, I wanted a bank that is easy to access and pays a decent rate of interest on a current account.

With my previous high street bank, the interest rate on the current account was < 0.5%.

Currently smile pays 4.5%. If you have a deposit account as well, then the rate is 6.0%. Comopare this with Barclays paying 1-2%.

A friend had been using smile for the past few months and recommended this to me. The account opening was prompt - received a cheque book and cash card within a few days. paying in book followed in 2 weeks or so. Although smile are participating in automation the DD transfer process - i did not have confidence and did it all manually.

After the initial pain of transferring DD's, I have not had a complaint.

I now earn about £5-£6 per month in interest, against 20-30P from my previous bank. The service is really reliable, I have never had a single instance where my account has been unavaliable. The telephone service is great, and there is no surcharge .

In summary. Once the account is fully set up, it's a joy to use. They can be a little slow on features - they still don't offer advanced date bill payment (barclays have had this for >6 months), but the features they do offer are good, and work reliably.

October 2000
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It is now possible to make payments set for a future date. I have tried it and it appears to work.

Summary: