Redwood Bank
(3.6)
Great
(3.6)
Entity type
Online Bank
Client type
Business
License
755924
Country
United Kingdom
Year
"2017"
Employee Count
51-200
Total Score
Great
(3.6)
About Redwood Bank
Redwood Bank was launched in August 2017 to offer a real alternative for small and medium sized organisations to make sure that their properties and cash work harder for them. Redwood Bank provides British businesses simple, transparent loans and savings accounts backed up with tailored service, efficient systems and with the knowledge that money is being invested back into British business and into British communities.
Pricing
35 Day Business Savings Account
0.7% annual
95 Day Business Savings Account
0.8% annual
1 Year Business Savings Bond
0.9%
Additional Information
SME
Savings, Loans, Intermediaries
Trustpilot reviews
Ametuerish - at best.
Despite my earlier negative review, I made the mistake of placing corporate money with them as a deposit (35 day notice account). When I tried to set up a withdrawl, it failed. Their operations team confirmed an error on their side and confirmed that withdrawl will take place on the 6th of April. As I expected, no amounts transferred on the 6th of April. Now operations say it will arrive at "some point" this afternoon (more of a hope than a statement at this point). Might have to loge a complaint with the Ombudsman if this does not materilise today. Probably driven by clueless management who have no idea around IT or investments in systems. Reply 8th April: Yes it has been resolved by the operations team who have been outstanding throughout. Seems the only redeeming factor in this saga. Hope your management ack their efforts.
Great service.FANTASTIC BANK
Great service.FANTASTIC BANK
Have had a great experience with their Business Savings Accounts
Have had a great experience with their Business Savings Accounts for a few years. No issues logging in from Mac or PC (just stating based on a previous review). They change their products from time to time and hence suggest keeping an eye regularly on their products, it's sometimes worth switching to the latest product to take advantage of the a better interest rate. The only issue with this, there is no upgrade path as such, one has to open a new account, place a notice on the old one and wait for funds to be released an transferred to the new product. Would be great if they could offer an upgrade path and also auto upgrade when there is an increase in interest rate (would certainly go a long way in rewarding loyalty).
Business Bond refunded in full
I had a year's business bond with Redwood but due to Covid-19 I needed the funds back mid-term. Not only did they refund in full within 2 days, they added on the interest I had accrued which I certainly did not expect. Top service.
Top Service from Redwood
I got a commercial mortgage from redwood last month across 4 properties, commercial and domestic, Ciaran Kilheeney there BDM was great, he came out to see me, and delivered on everything he said. Thanks to the Redwood team Benjamin Tuson
Corporate deposit account opened 6…
Corporate deposit account opened 6 months ago and no problems at all. Plus they pick the phone up when you call - take note high street banks
No problem in opening a new account…
No problem in opening a new account from their website. Welcome pack plus email received within days, with a welcoming phone call too. Login worked first time. OK, it is still early days, but good first impression.
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On this page, you can see a detailed review of Redwood Bank Banks with reviews from real users and our experts. Redwood Bank provides the following services: Loans, Savings Account, Wire Transfer Acceptance.
At the moment, Redwood Bank rating on Finscanner is 3.6 and on Trustpilot is 3.6.
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