Charter Savings Bank is a UK-based retail savings bank that specializes in providing a variety of savings products, including savings accounts, Cash ISAs, and fixed-rate bonds. The bank aims to help customers maximize their savings potential while ensuring a secure and straightforward banking experience. With an emphasis on competitive interest rates, Charter Savings Bank appeals to individual savers looking to grow their funds in a tax-efficient manner. The target market for Charter Savings Bank includes UK residents seeking reliable savings options. The company focuses on delivering accessible financial solutions tailored to the needs of its customers, while also addressing important topics such as fraud prevention and financial safety. By offering a range of savings products, Charter Savings Bank positions itself as a trusted choice for consumers looking to enhance their savings strategies.
Charter Savings Bank receives mixed feedback from its customers, with a notable portion praising the ease of opening accounts and the competitive interest rates offered. Many reviewers highlight the straightforward process for setting up ISAs and transferring funds, appreciating the postal confirmation and responsive customer service.
However, several critical themes emerge, particularly regarding the slow onboarding process and frustrations with the bank's outdated website. Customers express dissatisfaction with the declining interest rates after account opening and report complications during the application process, including confusing ID verification requirements. While some find the rates decent, others feel misled by initial offers.
Summary generated with AI from recent reviews
Each source counts by its number of reviews. Only reviews written by people are scored.
| Source | Rating | Reviews | Weight | 6-mo | Fake risk |
|---|---|---|---|---|---|
Trustpilot Imported Trustpilot reviews | 3.7 | 60 | 100% | -0.1 | ● Low |
Monthly average rating from reviews written by people · latest review Sep 2025.
| Month | Average | Reviews |
|---|---|---|
| Jun 25 | 3.7 | 11 |
| Jul 25 | 3.1 | 14 |
| Aug 25 | 4.3 | 19 |
| Sep 25 | 3.3 | 16 |
Share of positive (4–5★) and negative (1–2★) reviews mentioning each topic · based on the 60 most recent reviews.
“Very easy to open account”
“TRANSFERRING OUT IS A VERY SLOW PROCESS, CLOSED ACCOUNT ON FRIDAY MONEY STILL NOT PAID INTO MY BANK AT 11”
Same method for every company: overall rating, legitimacy checks, the average rating of reviews mentioning each area and the 6-month trend · Finance & Insurance.
| Company | Overall | Legit | Website & app | Service | Trend | Reviews |
|---|---|---|---|---|---|---|
 | 3.7 out of 5 (good) | 100 out of 100 | 3.4 out of 5 (fair) | 4.1 out of 5 (good) | — | 60 |
| 4.2 out of 5 (good) | 100 out of 100 | 3.0 out of 5 (fair) | 3.3 out of 5 (fair) | — | 1,200 | |
| 4.7 out of 5 (good) | 100 out of 100 | 4.6 out of 5 (good) | 4.7 out of 5 (good) | — | 1,060 | |
| 4.8 out of 5 (good) | 100 out of 100 | 4.7 out of 5 (good) | 4.9 out of 5 (good) | — | 1,060 | |
| 4.8 out of 5 (good) | 100 out of 100 | 4.0 out of 5 (good) | 4.7 out of 5 (good) | — | 1,060 |
Bottom line: Charter Savings Bank is #5 of 5 on overall rating in this group. On website & app, JustCover Travel Insurance scores higher (4.7 vs 3.4).
60 reviews of Charter Savings Bank. Filter by what matters to you.
Over a year ago
WAS ONCE A GOOD BANK, DECENT RATES, NOW SADLY GONE DOWNHILL. ENTICES YOU WITH ATTRACTIVE RATES, THEN QUICKLY LOWERS TO A POORER RATE. TRANSFERRING OUT IS A VERY SLOW PROCESS, CLOSED ACCOUNT ON FRIDAY... See more
Over a year ago
On boarding is slow , procedures are archaic, security needs to be brought into 21 St century
Over a year ago
The rates were pretty good, now just above average. The site is absolutely awful. Straight out of the 1990s. Every time I log in it kicks me out and makes me log in. The ui is gross, the user journeys... See more
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WAS ONCE A GOOD BANK, DECENT RATES, NOW SADLY GONE DOWNHILL. ENTICES YOU WITH ATTRACTIVE RATES, THEN QUICKLY LOWERS TO A POORER RATE. TRANSFERRING OUT IS A VERY SLOW PROCESS, CLOSED ACCOUNT ON FRIDAY MONEY STILL NOT PAID INTO MY BANK AT 11.20AM MONDAY. DREADFUL AND TOTALY INADEQUATE FOR MODERN DAY BANKING. NOW MOVED MY MONEY AWAY FROM THEM.
On boarding is slow , procedures are archaic, security needs to be brought into 21 St century
I tried to set up an ISA with charter in mid July. They send information about your ID documents and this was confusing as it said you needed these signing and then wanted them in the post - I was confused and ended up calling charter who told me I didn't need to do that, just email them. Charter noticed my nominated bank details were wrong so closed my account and told me to start again, so I did, and this is where things got worse with charter. I re-opened an account with the correct details... and its been weeks since I have heard anything. It shouldn't take weeks to set up an account. I called up and asked what is the hold up, they said there is a note on my account but couldn't explain but was told that I am at the top of the account list and they will get back to me. Most banks do this automatically but this bank seems to work on human power alone - which comes along with all the human errors (takings months to deal with when AI set up my account with Leeds building society in 5 hours!?). I got a call back within 30minutes to let me know about the error on my account - they said my nominated account is wrong. I was confused and shocked as I had already re-applied with the correct details so this is not possible!? She looked into the application so see I was telling the truth and charter had processed my old application twice or changed the numbers to my old account (their error!) She said leave it with her and they will call me back - assuming my bank would then be set up that day, well nobody called me back. A week later I called up to ask what the hold up is - they repeated everything like "oh your nominated account doesn't match" - wait so a week later you have done NOTHING!?! my account is still on hold!? I am wasting my time with this bank and over a month worth of interest lost not having this account open !? If I had just gone somewhere else then I would already have a bank and started saving and earning interest but I was sold by charters great rates... but its all a lie if you can't actually open an account as I would have earnt more putting it somewhere else during this time frame. Do not fall for charters deals, you won't even get an account. I requested a call back but they never called me back. This is now another week later (a month in total from applying) and they said I am "in the final stages" but at this point I do not trust this bank to hold my money. With limited communication, terrible customer service, terrible online systems, terrible processing. Why would I trust them? Why would YOU trust them? Please go elsewhere and save your time and actually save your money
The rates were pretty good, now just above average. The site is absolutely awful. Straight out of the 1990s. Every time I log in it kicks me out and makes me log in. The ui is gross, the user journeys are ugly. Would try to avoid unless their rates were stellar, which they no longer are I have interacted with customer care once and they were excellent.
Very easy to open account. I like the fact there is postal confirmation of ISA via a certificate. Really good that account attached has to be verified by a postal letter with I’d number. Seems very secure.
simple and fast
I found the process to open a new ISA and transfer funds from another provider was straight forward and any queries I had during the transfer were answered clearly. I also found it easy to speak to a member of staff on the phone without having to wait an inordinate amount of time before my call was answered.
Easy process to open account had a slight problem but was my fault grat help from customer service and quick confirmation of transaction
Competitive interest rates and the type of account (notice/savings) that I wanted. The application process was over-complicated and the the account opening department of Charter Savings was exceptionally slow!
I had a fixed rate bond which was maturing. Charter sent me my options and I chose to re-invest in a 2 year fixed rate bond. When they reinvested the bond on maturity they did not give me the current rate of 4.25 but the poorer rate that had been in existence a month before when I told them I would reinvest in a 2year fixed rate bond. When I asked for them to return my money as there must be a cooling off period and I could of then reinvested my funds at the current rate they told me they couldn't do that. However I could add to my investment. So they have given me a poorer rate. They will take more money from me in the 14 day period after maturity but won't give me my money back. Talk about heads I win, tails you lose ! Even National Savings honour better rates.
Great service, really smooth set up and transfer
Whilst applying for an ISA, the nominated account verification did not work. No other banks have had problem performing automatic verification of said account. The application thus needed manual verification, to which I supplied the needed documents. After this, there was an absolute vacuum of information or updates from Charter Savings. I phoned every few days, to be told checks are done and it was with an account opener. it's been sat with them for over two weeks with zero activity and zero updates. I have had to chase for information throughout, and it was pretty much no information in response. Taking it as a sign to come, I requested to cancel the application. They couldn't even provide convincing confirmation that I will receive written confirmation of cancellation, especially when a ISA transfer is also on the line. I feel in absolute limbo as to if my money will safely remain as is.
Simple process to open Fixed rate ISA and transfer funds across from another provider.
Excellent! Very straightforward At a time when interest rates are fluctuating in the blink of an eye, Charter’s systems are a dream. Gave me a feeling of reassurance. Very satisfying
I disagree with some reviewers about the ease of opening an online account. You have to provide answers to THREE security questions that have so many restrictions, it makes it difficult to know what to put down as an answer. Why some of these provincial banks like to make life difficult for customers never fails to amaze me. The smaller the bank the more neurotic and security obsessed they become!
Good renewal terms for fixed-rate ISAs, but you have to work hard to find them. See how below. My 2-year fixed-rate ISA with Charter matures on 14th Sept so I logged in to check renewal deals. I wanted a 3-year fix, which is available for new customers - but not in the options list for me! And the 2-year fix offered to me was 3.95% vs 4.16% for new customers! HOWEVER, when I rang the customer services line, part of the long pre-recorded stuff before you get to speak to a human explained thus: "If you want to renew an ISA with another account than the ones offered, click on the link 'open another account' at the top of your account page." Hey presto, all of the accounts available to new customers were there, including the 3-year fix I wanted at 4.16%. To be fair, now I have looked properly, that was also mentioned in the middle of the maturity email: "Choose a different account from our website. You may find an account you prefer on our website, rather than those offered on the 'Maturity options' screen." If Chartered Savings Bank is prepared to offer existing customers the same deals as new customers, it would be more honest of them to display those as renewal options, instead of requiring the customer to go hunting for them, which will result in some missing the best deals.
Overall, an easy account to open but the instructions in the emails were not clear. As a mature internet user, things need to be crystal clear.
Excellent, so far only just opened an account.
Great website, simple understandable processes and good communication
Charter Savings Bank is a UK-based retail savings bank that specializes in providing a variety of savings products, including savings accounts, Cash ISAs, and fixed-rate bonds. The bank aims to help customers maximize their savings potential while ensuring a secure and straightforward banking experience. With an emphasis on competitive interest rates, Charter Savings Bank appeals to individual savers looking to grow their funds in a tax-efficient manner. The target market for Charter Savings Bank includes UK residents seeking reliable savings options. The company focuses on delivering accessible financial solutions tailored to the needs of its customers, while also addressing important topics such as fraud prevention and financial safety. By offering a range of savings products, Charter Savings Bank positions itself as a trusted choice for consumers looking to enhance their savings strategies.
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