13th June 2016
Raphaels Bank, one of Britain’s oldest independent banks has won the 2016 Moneyfacts Award for Best Notice Account Provider for its range of notice accounts. The accounts, which were also Highly Commended by the Moneyfacts Awards in 2015, provide excellent interest rates of 1.35% APR for 60 days’ notice, 1.55% for 6 months’ notice and 1.70% for 12 months’ notice. The Bank has not reduced these savings rates over a period of time unlike other providers.
Contrary to many other awards, the Moneyfacts awards are not judged based on entries submitted, but by the monitoring of accounts and providers from March 2015 to February 2016. Raphaels Bank notice accounts have topped Moneyfacts’ list within this period.
Miles Roberts, CEO of Raphaels Bank commented, “We are delighted to win such an influential and important award, which recognises our range of our first-rate notice accounts, voted ‘as best in the market’. At Raphaels Bank we always look to provide excellent service for our customers, and are delighted that this has been recognised by Moneyfacts.”
The 60 Day Notice Account has a minimum opening balance of £2,000 up to a maximum balance of £250,000.There is no limit on the number of deposits or withdrawals, provided the 60 day notice period is given for withdrawals, however if your balance falls below the minimum, a rate of 0.25% will apply. The 6 and 12 month notice accounts have a minimum opening balance of £5,000. Raphaels prides itself on transparency and as such does not artificially inflate the interest rates with bonuses or introductory offers, but provides a consistently competitive rate for savers.