OneSavings Bank

OneSavings Bank

OneSavings Bank is a lending and retail savings bank based in Chatham, United Kingdom. The company began trading as a bank in 2011.

Reviews Rating
20%
Review Score
This figure is an average of the reviews score, taken from customer reviews and the overall rating of the bank.
35%
BankRank® Score
This figure is the average of the bank’s total sentiment score and the review scores.
Matt Crabtree
Senior Editor
Matt Crabtree
Matt Crabtree is a senior editor at CompareBanks. He has over 10 years experience in writing about all aspects of finance and is passionate about helping consumers make informed decisions about their money.
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Overview

First Glance

OneSavings Bank is a lending and retail savings bank based in Chatham, United Kingdom. The company began trading as a bank in 2011.

Contact Info

Bank Website
Email
mail@krbs.com
Address
85 Sun Wharf, Chatham ME4 4ET, UK
Phone
01634 848944

About OneSavings Bank

OneSavings Bank is a lending and retail savings bank based in Chatham, United Kingdom. The company began trading as a bank in 2011.

The One Savings Bank Group trades under three brands in the UK: Kent Reliance, Interbay Commercial, Prestige Finance and Heritable Development Finance. The bank’s operations are mostly funded by retail savings from the Kent Reliance brand, originally established in 1847.

One Savings Bank also operates in the Channel Islands, under the brands Jersey Home Loans and Guernsey Home Loans.

OneSavings Bank Products and Services

OneSavings Bank operates in these primary segments:

  • Buy-to-let / SMEs
  • Residential mortgages
  • Personal loans
  • Retail savings

Buy-to-let mortgages are offered to experienced landlords on residential property purchased for investment purposes and commercial mortgages for commercial or semi-commercial investment properties. The bank also offers residential development finance to small and medium developers and to owner-occupiers, mostly in London and the South East. One Savings Bank also partners with specialist mortgage brokers to offer residential and shared ownership mortgages.

One Savings Bank also provides funding opportunities to other lenders.

Available retail savings products include fixed-term bonds, easy access and fixed rate savings accounts, children’s savings accounts and ISAs. Children’s savings accounts support Demelza Hospice for Children.

OneSavings Bank Awards

In 2017, One Savings Bank was awarded as ISA Provider of the Year by Consumer Moneyfacts, and as best Cash ISA Provider – an award it has won for the last five years. Also in 2017, the lending sales team was awarded the Best Business Development Team gong at the Mortgage Strategy Awards.

OneSavings Bank Security

One Savings Bank is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority. Deposits of up to £85,000 are covered by the Financial Services Compensation Scheme (FSCS).

OneSavings Bank Contact Details

Reliance House
Sun Pier
Chatham
Kent
ME4 4ET

Telephone: 01634 848944

Email: mail@krbs.com

Have a question about OneSavings Bank?

Find answers in Q&As and ask your question

Hallo, Mijn vraag is, de onesavings bank in Amerika, www.onesavings.net is deze een afdeling van jullie? Zo ja? mijn vriend heeft daar een account en is niet meer online te openen, zo kunnen wij niet op de banksite en inloggen sinds dinsdagavond 17 JANUARI4 '23 wij hebben daar ook geen bankapp van. Dit heeft voor ons gevolgen wat er nu gebeurd, wij zijn ook niet op de hoogte gebracht van dit probleem. Kunnen jullie a.u.b. dit probleem voor ons oplossen? Dit apprecieer ik ten zeerste. Met vriendelijke groeten Sabine Roggemans — Sabine Roggemans

Is this bank connected with Paragon or Charter bank?? — Catherine Reynolds

Do you offer online banking? I want an mortgage account where all communication is held online — Cynthia Broodie

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OneSavings Bank Reviews

Jon Willey
November 24, 2022

“I have tried to be unbiased in this review to enable individuals to form an informed decision regarding Kent Reliance itself, the staff representing the company and the systems and practices they both work to”

I have tried to be unbiased in this review to enable individuals to form an informed decision regarding Kent Reliance itself, the staff representing the company and the systems and practices they both work to.
We all make errors and deserve the opportunity to put them right. However continual systematic failures and repeated assurances that the matter will be or has now been resolved when it hasn’t, in my view is totally unacceptable. Financial and health impacts cannot be understated from such a lack of action and the time spent trying to resolve the matter and waiting for excessive amounts of time in a telephone queueing system. Kent Reliance are clearly inundated with calls and cannot cope with such a volume.
My circumstances are:
09/06/2022 – A letter was received from Kent Reliance stating my fixed rate mortgage was coming to an end and outlined several options open to me. One of those was to choose another fixed rate deal. I chose a fixed rate five-year deal at 3.44% and applied for the same as this was similar to my existing mortgage.
19/07/2022 – A letter was received from Kent Reliance outlining a mortgage offer of five years at a fixed rate of 3.44%. The various forms in accepting the offer were completed and returned.
15/08/2022 – A letter was received from Kent Reliance stating that my mortgage was linked to a Standard Variable rate and the rate was now 7.83%. The payments were over double what I had been paying and what the mortgage offer was.
22/08/2022 – I telephoned Kent Reliance and after a considerable time in the queue spoke to an agent who informed me to ignore the letter I had received, that I would be on the new product from 01/09/2022 and that I would receive confirmation soon after that. There was nothing further I needed to do. (To date (24/11/2022) no communication has been received).
28/09/2022 – Without explanation an amount was taken out of my account by Kent Reliance at almost three times the fixed rate amount and far more than the letter stated on 15/08/2022.
30/09/2022 – I telephoned Kent Reliance and again spent a considerable amount of time in the queue. I explained everything to the agent, who informed me there was nobody available to deal and that somebody from the retentions team would call me back later that day. I stated that I wasn’t happy with this and a complaint was raised. I was told somebody would call me back within three days in relation to the complaint. (No call backs were made). I followed it up by sending an email of my complaint.
04/10/2022 – I telephoned Kent Reliance at 10am and was informed I was 129th in the queue. There was an option to save my place in the queue and have a call back. I chose this option. No call back was made.
05/10/2022 – I telephoned Kent Reliance at 9am and again waited a considerable amount of time to speak to an agent who informed me that the new fixed rate mortgage would be in place this month and overpayments taken would be refunded. I further call was received from Kent Reliance who confirmed the new product had been activated and I would receive confirmation shortly. To date (24/11/2022) the new product is not activated and no confirmation has been received by myself.
07/10/2022 – A letter was received acknowledging my complaint, which would be investigated and responded to within four weeks. A telephone number was provided as a contact for any questions.
28/10/2022 – A further letter was received from the complaints specialist stating that the matter was still being investigated and a response would be sent within a further four weeks. A contact number was provided for any questions.
28/10/2022 – An amount was taken out of my account by Kent Reliance at almost twice the fixed rate amount. I telephoned Kent Reliance and after twenty minutes pressed the option to keep my place in the queue and receive a call back. I also tried to contact the complaints specialist and left a message for them to call me back. No call back was received from either an agent or the complaints handling specialist.
31/10/2022 – I telephoned Kent Reliance at 9am and waited a considerable amount of time to speak to an agent. They informed me that the new mortgage was active and that the significant overpayments would be refunded within ten working days. (To date (24/11/2022) no refunds have been received).
To date (24/11/2022), after almost six months from the first letter, the matter is still not resolved and no monies have been refunded.

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