Oxbury.com Reviews

Based on looking at the website, Oxbury.com operates as a specialized UK bank primarily serving the agricultural sector, offering savings accounts and lending facilities. However, a critical aspect that immediately comes to light for those seeking truly ethical financial dealings is their emphasis on “competitive interest rates” across their savings and lending products. This directly indicates that Oxbury.com operates on an interest-based riba financial model, which is strictly impermissible in Islamic finance. Engaging with interest, whether through earning it on savings or paying it on loans, carries severe admonitions in Islamic teachings, making it a financial avenue that should be entirely avoided. For individuals and businesses striving for financial practices aligned with their faith, Oxbury.com’s offerings, while seemingly beneficial for farmers, are not a permissible option due to their reliance on interest.

Instead of pursuing interest-based financial products, we are encouraged to explore and support alternative, ethical financial models that align with Islamic principles. This includes promoting halal financing, honest trade, and ethical business practices that foster true economic growth and social justice without resorting to exploitative interest mechanisms. The pursuit of wealth should always be balanced with righteousness and adherence to divine guidance, ensuring that our transactions bring blessings rather than burdens.

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IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Oxbury.com Review & First Look

Upon an initial review of Oxbury.com, it’s clear they position themselves as a niche financial institution dedicated to the UK’s agricultural sector. Their website is professional, well-structured, and communicates a strong focus on supporting farmers. The primary services highlighted are Oxbury Transition Facility, Oxbury Savings Accounts, and Oxbury Lending.

• Target Audience: Farmers, agricultural businesses, and individuals interested in supporting the rural economy.
• Core Promise: Providing tailored financial solutions for farmers, while also allowing individuals to save and contribute to this mission.
• Key Selling Points as presented on the site:
  • Specialization in agriculture, unlike larger, more generalized banks.
  • Face-to-face banking services through dedicated Relationship Managers.
  • Commitment to reducing carbon emissions and improving soil health through their Transition Facility.
  • FSCS protection for savings up to £85,000.

However, the pervasive mention of “competitive interest rates” across all their savings and lending products immediately flags a significant concern from an Islamic finance perspective.

While the website presents a clear vision and professional image, the foundational interest-based model means it operates outside the permissible financial frameworks for a Muslim.

Oxbury.com Cons

Given that Oxbury.com operates on an interest-based model, the primary “cons” for a Muslim audience are not related to the bank’s operational efficiency or customer service, but rather to its fundamental financial structure.

• Riba Interest Involvement: This is the most significant drawback. All savings accounts offer “competitive interest rates,” meaning depositors earn interest, and all lending products working capital, asset finance, long-term lending involve paying interest. Both earning and paying interest are strictly forbidden in Islamic finance.
  • Prohibition in Islam: The Quran and Sunnah explicitly prohibit Riba due to its perceived exploitative nature, promoting inequality and detaching money from real economic activity.
  • Impact: Engaging with interest-based products, even if the intention is to support a noble cause like farming, would be considered impermissible.
• Lack of Sharia-Compliant Alternatives: The website does not offer any Sharia-compliant financial products, such as Mudarabah profit-sharing for savings or Murabahah cost-plus financing for lending, which would avoid interest.
• Ethical Conflict for Muslims: For those committed to Islamic financial principles, using Oxbury.com would create a direct conflict with their religious obligations, regardless of the perceived benefits to the agricultural sector.

Oxbury.com Alternatives

For individuals and businesses seeking to manage their finances in a manner consistent with Islamic principles, several alternatives can be considered.

These alternatives focus on ethical, interest-free transactions and investments.

• Islamic Banks and Financial Institutions:
  • Primary Choice: Seek out fully Sharia-compliant banks or financial institutions that operate without interest. In the UK, institutions like Gatehouse Bank or specific Islamic finance divisions within larger banks offer products such as:
    • Sharia-compliant savings accounts: These typically work on a Mudarabah profit-sharing or Wakalah agency basis, where returns are generated from ethical, real-asset-backed investments rather than fixed interest.
    • Halal mortgages Home Purchase Plans: Often structured as Ijara leasing or Murabaha cost-plus sale, avoiding conventional interest.
    • Business financing: Options like Murabaha, Musharakah partnership, or Ijara that are asset-backed and do not involve interest.
• Ethical Investment Platforms:
  • Direct Investment: Look into ethical investment platforms that vet their investments for Sharia compliance. These platforms typically avoid industries like alcohol, gambling, conventional finance, and entertainment.
  • Sukuk Islamic Bonds: Invest in Sukuk, which are asset-backed Islamic financial certificates structured to comply with Sharia, offering returns based on underlying assets or projects rather than interest.
• Crowdfunding and Peer-to-Peer Platforms Sharia-Compliant:
  • Ethical Funding: Some platforms are emerging that facilitate ethical, interest-free crowdfunding for businesses and projects. Thorough due diligence is crucial to ensure genuine Sharia compliance.
• Direct Business Partnerships Musharakah/Mudarabah:
  • Risk-Sharing: For agricultural businesses, explore direct partnerships where capital providers share in the profit and loss of the venture, rather than receiving fixed interest payments. This aligns perfectly with the spirit of Islamic finance, which emphasizes risk-sharing and ethical collaboration.
• Community-Based Lending/Savings Groups:
  • Mutual Support: Form or join local community groups for interest-free lending Qard Hasan or collective savings and investment, fostering mutual support and ethical financial practices within the community.
• Saving and Investing in Real Assets:
  • Tangible Assets: Instead of interest-bearing savings, consider saving with the intention of investing directly in tangible, productive assets like land, equipment, or ethical businesses, which can generate real, permissible returns.

When considering any financial product or service, it is paramount to verify its Sharia compliance with knowledgeable scholars or reputable Islamic financial advisory bodies. The core principle is to avoid Riba in all its forms and ensure that wealth is generated and managed through ethical, permissible means that benefit society as a whole.

Oxbury.com Pricing

Based on the information available on Oxbury.com, “pricing” primarily refers to the interest rates offered on their savings products and charged on their lending facilities. Since their entire model is interest-based, for a Muslim individual or business, this aspect is a direct contravention of Islamic financial principles, rendering it impermissible.

• Savings Account Rates:
  • Personal 18 Month Bond Account Issue 18: Advertised at 4.45% AER Fixed.
  • Easy Access Account Limited Edition 2: Advertised at 4.32% AER Variable.
  • Farm Business Savings – Farm Easy Access Tracker Ltd Edition 1: Advertised at 3.88% AER Variable.
  • These rates represent the return generated for depositors, which is a fixed or variable interest payment.
• Lending Rates:
  • While specific lending rates are not publicly listed on the homepage which is common for bespoke business lending, the website clearly states they provide “funding” to farmers, and the nature of conventional banking implies these loans will carry interest charges.
  • Their “Transition Facility” is described as providing “flexible funding to help farmers manage cash flow and capital needs,” which, in a conventional banking context, means interest-bearing loans designed for specific agricultural transitions.

From an Islamic perspective, these “prices” interest rates are the very element that makes Oxbury.com’s offerings impermissible.

The allure of “maximising the return on your money with competitive interest rates” is precisely what Muslims are commanded to avoid.

The focus should always be on real economic growth, profit-and-loss sharing, and ethical transactions, rather than guaranteed returns derived from interest.

Oxbury.com vs. Conventional Banks from an Islamic Finance Lens

When comparing Oxbury.com to other conventional banks, from an Islamic finance perspective, the distinction is largely academic.

Both operate on the same fundamental, interest-based system riba.

• Oxbury.com:
  • Niche Focus: Specializes solely in the agricultural sector in the UK. This is their unique selling proposition in the conventional banking world. They offer bespoke, relationship-driven services for farmers.
  • Perceived Benefit: For conventional customers, their deep understanding of farming might lead to more tailored and supportive financial products, potentially aiding the transition to sustainable farming.
  • Islamic Finance View: Despite its laudable mission to support farming and sustainability, its reliance on interest for both savings and lending means it falls into the same impermissible category as any other conventional bank for a Muslim. The positive societal impact of supporting agriculture does not override the fundamental prohibition of interest.
• General Conventional Banks:
  • Broader Scope: Offer a wide range of financial services to various sectors personal, corporate, commercial, investment banking.
  • Varied Expertise: While some may have agricultural departments, they generally lack the dedicated, specialized focus of Oxbury.
  • Islamic Finance View: Also operate on an interest-based model, making their products generally impermissible for Muslims.

Key Similarities from an Islamic perspective:

• Reliance on Riba: Both fundamentally depend on charging and earning interest.
• FSCS Protection: Both are typically regulated and offer deposit protection e.g., FSCS in the UK for eligible deposits, which is a consumer protection feature unrelated to Sharia compliance.
• Transactional Nature: Both facilitate traditional banking transactions like deposits, withdrawals, and transfers.

Fundamental Difference for Muslims:

The purpose or target audience of a conventional bank, whether it’s specialized like Oxbury.com or broad-based, does not alter its fundamental nature if it deals with interest. For Muslims, the critical differentiator is the presence or absence of Riba. Therefore, neither Oxbury.com nor a mainstream conventional bank offers a permissible avenue for financial dealings if they are rooted in interest. The alternative remains Islamic banks or ethical financial products that strictly adhere to Sharia principles, regardless of the sector they serve.

How to Cancel Oxbury.com Subscription Not Applicable

The concept of “subscription” as a recurring service fee isn’t directly applicable to a traditional bank like Oxbury.com.

Banks typically don’t operate on a subscription model.

Instead, customers open accounts savings or lending or utilize specific facilities.

If a customer wished to cease their relationship with Oxbury.com, it would involve closing accounts or repaying loans/facilities.

• Closing a Savings Account:
  • Typically involves withdrawing all funds and formally requesting the account closure. This often requires contacting their customer service or Relationship Manager directly.
  • Process:
    1. Withdraw Funds: Transfer all funds from the Oxbury savings account to another nominated bank account.
    2. Contact Oxbury: Reach out to their customer service via phone, email, or secure message within their online banking platform.
    3. Formal Request: Clearly state the intention to close the accounts. They may require a written confirmation.
    4. Confirmation: Ensure you receive confirmation that the account has been successfully closed and there are no outstanding balances or obligations.
• Repaying a Loan/Facility:
  • This involves fulfilling the terms of the loan agreement, including repayment of the principal and any accrued interest.
    1. Review Loan Agreement: Understand the terms and conditions for early repayment, if applicable, and any associated fees.
    2. Contact Relationship Manager: Engage with the assigned Relationship Manager to get an exact payoff figure.
    3. Make Final Payment: Remit the outstanding balance, including principal and interest.
    4. Obtain Release/Confirmation: Ensure documentation confirming the loan is fully repaid and the facility is closed.

It is crucial to note that even in the process of closing accounts or repaying loans, any interest earned or paid up to that point would still be part of the transaction history with Oxbury.com.

For a Muslim, the goal should be to avoid initiating such impermissible transactions in the first place by opting for Sharia-compliant financial institutions.

How to Cancel Oxbury.com Free Trial Not Applicable

Similar to the “subscription” concept, the idea of a “free trial” is not relevant to a conventional banking service like that offered by Oxbury.com.

Banks do not offer free trials for opening savings accounts or obtaining loans.

Customers engage with banking services by opening an account, depositing funds, or applying for credit.

There isn’t a trial period where one can use their banking services for free and then decide to “cancel” it without financial implications.

• Savings Accounts: Opening a savings account involves depositing actual funds and potentially earning interest from day one or after a certain period, depending on the terms. There’s no trial.
• Lending/Facilities: Applying for and receiving a loan or a facility involves immediate financial commitment and repayment obligations, typically including interest charges, from the outset. There is no “free trial” of a loan.

Therefore, any search query for “How to cancel Oxbury.com free trial” is based on a misunderstanding of how traditional banking services operate.

The focus for ethical finance should remain on avoiding interest-based models from the very beginning.

Frequently Asked Questions 20 Real Questions + Full Answers

Is Oxbury.com a legitimate bank?

Yes, Oxbury.com is a legitimate and fully regulated UK bank.

Their website states they are protected by the Financial Services Compensation Scheme FSCS up to £85,000 per person or per company, per authorised firm.

What is Oxbury.com primarily focused on?

Oxbury.com is primarily focused on serving the UK’s agricultural sector, providing specialized financial products for farmers and allowing individuals to save with the purpose of supporting the rural economy.

Does Oxbury.com offer personal savings accounts?

Yes, Oxbury.com offers personal savings accounts, including Easy Access Accounts and Fixed Term Bonds, with advertised competitive interest rates.

Are my savings safe with Oxbury.com?

Yes, eligible deposits with Oxbury.com are protected by the Financial Services Compensation Scheme FSCS up to £85,000 per person or per company, providing a layer of security for savers.

What kind of lending does Oxbury.com provide?

Oxbury.com provides various lending solutions for farmers, including working capital, asset finance, and long-term lending, aimed at helping them grow, develop, and improve their farms.

What is the Oxbury Transition Facility?

The Oxbury Transition Facility is a unique offering from Oxbury.com that provides flexible funding to help UK farming businesses manage cash flow and capital needs as they transition to lower-carbon and more resilient farming systems.

Does Oxbury.com have a physical presence or just online?

While they offer online banking, Oxbury.com emphasizes personalized face-to-face banking services through their dedicated Relationship Managers, suggesting a blend of digital and direct engagement, particularly for their farmer customers.

What are the interest rates offered by Oxbury.com on savings?

Oxbury.com advertises competitive interest rates on its savings products, such as 4.45% AER Fixed for their 18 Month Bond and 4.32% AER Variable for their Easy Access Account as per the website’s main page information.

Is Oxbury.com Sharia-compliant?

No, Oxbury.com is not Sharia-compliant. Gordonramsayrestaurants.com Reviews

Their financial model is based on charging and paying interest riba on their lending and savings products, which is strictly prohibited in Islamic finance.

Can businesses open savings accounts with Oxbury.com?

Yes, eligible businesses, including farm businesses, can open savings accounts with Oxbury.com.

How does Oxbury.com support the rural economy?

Oxbury.com states that every pound saved with them goes to help farmers and the wider market produce food, preserve the countryside, and deliver a positive impact to the rural economy by providing them with necessary funding.

What customer feedback is available for Oxbury.com?

Customer testimonials on the Oxbury.com website highlight aspects like quick and efficient account setup, effective communication, approachable staff, and a feeling of trust in supporting the farming community.

How can I contact Oxbury.com customer service?

While specific contact details phone number, email are not on the immediate homepage, their website mentions customer service and interaction via their banking app, suggesting various channels for communication.

Does Oxbury.com offer an online banking platform or app?

Yes, Oxbury.com provides 24-hour account access via Oxbury Online Banking and an Oxbury app for their customers.

Are there any fees for opening an account with Oxbury.com?

The website does not explicitly detail account opening fees, which is common for savings and lending accounts, but it’s advisable to review their terms and conditions or contact them directly for full fee schedules.

What makes Oxbury.com different from other banks?

Oxbury.com distinguishes itself by its singular focus on the UK agricultural sector, offering specialized financial products and dedicated Relationship Managers who understand the unique needs of farming businesses, unlike larger, more generalized banks.

Can I get a mortgage through Oxbury.com?

The website mentions “long-term lending” for farmers, which could include facilities for purchasing or improving farm properties.

However, it’s not a conventional residential mortgage provider for the general public. Mytransgenderdate.com Reviews

How quickly can I set up an account with Oxbury.com?

According to customer testimonials on their site, the process of setting up an account with Oxbury.com is described as “very quick and efficient.”

What are the eligibility requirements to open an Oxbury savings account?

Eligible individuals, businesses, or farm businesses can open an Oxbury savings account.

Specific detailed requirements would be available during the application process or by contacting them directly.

What are the alternatives to Oxbury.com for ethical finance?

For ethical and Sharia-compliant finance, alternatives include Islamic banks e.g., Gatehouse Bank in the UK, Sharia-compliant ethical investment platforms, direct business partnerships based on profit-sharing Musharakah/Mudarabah, and community-based interest-free lending initiatives.