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Results: Which do you think is best?

Lloyd’s Bank

56.67% • 17 votes

Halifax Bank

43.33% • 13 votes

You may not vote on this poll

30 votes in total.

  • FIRST POST
    • gettinnerdy
    • By gettinnerdy 4th Aug 17, 8:52 PM
    • 25Posts
    • 0Thanks
    gettinnerdy
    Is more than one bank account better?
    • #1
    • 4th Aug 17, 8:52 PM
    Is more than one bank account better? 4th Aug 17 at 8:52 PM
    I have two current accounts now, down from 6 as I've been consolidating.

    I have a Barclays Bank Account and a Halifax Current Account - and I don't pay any fees for either of them.

    I'm wondering what the majority of people do...

    Have one current account for everything? Or if many of you have two - and maybe use one just for direct debits and the monthly bills and each month transfer just enough money into the bill paying Account to cover all the bills?

    Or do you find it easier just to have the one account with everything there?
Page 1
    • surreysaver
    • By surreysaver 4th Aug 17, 8:58 PM
    • 2,342 Posts
    • 1,316 Thanks
    surreysaver
    • #2
    • 4th Aug 17, 8:58 PM
    • #2
    • 4th Aug 17, 8:58 PM
    Easiest? One, maybe two in case one stops working. Most lucrative? I've currently got 12. Depends how much time you want to spend micomanaging your money - although moving money can be automated to a degree, you still need to keep on top of it.
    I consider myself to be a male feminist. Is that allowed?
    • colsten
    • By colsten 4th Aug 17, 9:40 PM
    • 8,809 Posts
    • 7,496 Thanks
    colsten
    • #3
    • 4th Aug 17, 9:40 PM
    • #3
    • 4th Aug 17, 9:40 PM
    It is a sound idea to have at least 2 current accounts, at different and unconnected banks. Provided you keep money in both, it can protect you from any problems that may occur with one of them.

    On this forum, many people have many more than just 2 accounts as they are using them as savings accounts, or as access to savings accounts.
    • Geoff1963
    • By Geoff1963 4th Aug 17, 9:42 PM
    • 1,056 Posts
    • 678 Thanks
    Geoff1963
    • #4
    • 4th Aug 17, 9:42 PM
    • #4
    • 4th Aug 17, 9:42 PM
    More than one, but not too many.
    It can be useful to have an account which is generally empty, for any transactions which might seem a little suspicious, to limit the damage.
    Several accounts means several x the daily cash withdrawal limit.
    • Heng Leng
    • By Heng Leng 5th Aug 17, 12:48 AM
    • 4,265 Posts
    • 1,311 Thanks
    Heng Leng
    • #5
    • 5th Aug 17, 12:48 AM
    • #5
    • 5th Aug 17, 12:48 AM
    Keep at least 2 - more if it suits you.
    • CKhalvashi
    • By CKhalvashi 5th Aug 17, 12:52 AM
    • 8,789 Posts
    • 24,995 Thanks
    CKhalvashi
    • #6
    • 5th Aug 17, 12:52 AM
    • #6
    • 5th Aug 17, 12:52 AM
    2 is always best.

    I got stuck in London until a friend helped when Lloyds systems went down about 5 years ago around Christmas.

    Had I had another card with me (it was my fault I didn't, I admit that) it would have saved about an hour and the £20 of fuel I had to give someone else for dealing with it for me.
    "I kada sanjamo san, nek bude hiljadu raznih boja" (L. Stamenkovic)

    Call me Remainer or Romaniac, but not Remoaner. It's insulting and I have the right to have my voice heard too.

    I can spell, my iPad can't.
    • agrinnall
    • By agrinnall 5th Aug 17, 11:08 AM
    • 18,679 Posts
    • 14,397 Thanks
    agrinnall
    • #7
    • 5th Aug 17, 11:08 AM
    • #7
    • 5th Aug 17, 11:08 AM
    It's not only better, it's foolish not to have at least 2 entirely separate accounts, as explained by colsten.
    • datlex
    • By datlex 5th Aug 17, 12:15 PM
    • 1,447 Posts
    • 1,235 Thanks
    datlex
    • #8
    • 5th Aug 17, 12:15 PM
    • #8
    • 5th Aug 17, 12:15 PM
    Given poor interest rates on money and lack of pay rises, I have several to earn rewards and interest. I found my finances improved no ended when I moved from 1 account to 2 accounts. Since then I have a number which I use for rewards. I use banking apps to check my accounts daily. It doesn't take much work at all. I have done so since I had only a couple. Anyone with internet access who does not check their accounts at least once a week is quite frankly stupid.
    • katejo
    • By katejo 5th Aug 17, 5:27 PM
    • 2,995 Posts
    • 1,149 Thanks
    katejo
    • #9
    • 5th Aug 17, 5:27 PM
    • #9
    • 5th Aug 17, 5:27 PM
    I have 2. A main one which takes my salary, pays regular bills and has all my DD's. A 2nd one which is a savings account in principle but which pays for non essential expenses/projects/holidays. I transfer money into it each month and it also feeds other savings accounts.
    • gettinnerdy
    • By gettinnerdy 22nd Nov 17, 8:57 PM
    • 25 Posts
    • 0 Thanks
    gettinnerdy
    Lloyd’s or Halifax
    Based on People’s views, if you have experience of both - which bank out of the two do you believe offers better service and better products?
    • ceredigion
    • By ceredigion 22nd Nov 17, 9:22 PM
    • 2,409 Posts
    • 3,012 Thanks
    ceredigion
    Why ?
    ..............
    • gettinnerdy
    • By gettinnerdy 22nd Nov 17, 9:29 PM
    • 25 Posts
    • 0 Thanks
    gettinnerdy
    Simply because I would like to know
    • ceredigion
    • By ceredigion 22nd Nov 17, 9:41 PM
    • 2,409 Posts
    • 3,012 Thanks
    ceredigion
    BoS, Then
    ..
    • gettinnerdy
    • By gettinnerdy 22nd Nov 17, 9:53 PM
    • 25 Posts
    • 0 Thanks
    gettinnerdy
    Bank of Scotland isn’t even an option in the poll. I’m asking - Halifax or Lloyd’s, not Halifax hsbc and McDonald’s
    • jonesMUFCforever
    • By jonesMUFCforever 22nd Nov 17, 10:04 PM
    • 24,251 Posts
    • 11,534 Thanks
    jonesMUFCforever
    There is no ' in Lloyds bank!
    What goes around - comes around
    give lots and you will always receive lots
    • dj1471
    • By dj1471 22nd Nov 17, 10:13 PM
    • 952 Posts
    • 635 Thanks
    dj1471
    Both banks are owned by Lloyds Banking Group. The customer service, online banking, apps etc. are all the same, only the brand differs.

    Products differ but without knowing what you're interested in it's impossible to offer any advice. IMO Lloyds tend to offer more competitive products (e.g. Club Lloyds before they dropped the rate and the rumoured-to-be-discontinued-soon Avios credit cards).
    • Eco Miser
    • By Eco Miser 23rd Nov 17, 1:47 AM
    • 3,218 Posts
    • 2,979 Thanks
    Eco Miser
    I use both. The web sites are identical, apart form the branding.
    Halifax pays me £3 a month, tax paid.
    Lloyds pays me about £8 a month gross.
    I save the maximum into each RS, £400 into Lloyds and £250 into Halifax.
    Lloyds sends me a magazine each month.
    I've had no reason to call customer service, although the one time I needed to pay in a cheque, the CS lady in the bank was most helpful in showing me how to use the ATM to do this.

    I find Halifax Share Dealing Ltd, branded as Iweb a useful investment platform.
    I don't use any other of their products.

    And after all that, I don't think either provide intrinsically better products or service than the other.
    Eco Miser
    Saving money for well over half a century
    • forgotmyname
    • By forgotmyname 23rd Nov 17, 3:34 AM
    • 26,200 Posts
    • 10,454 Thanks
    forgotmyname
    First Direct offer better products, not so sure about customer service though.

    Or possibly Nationwide.

    Your question about which one of your two offer better products will surely depend on what products you want?

    Halifax Clarity card for non UK purchases etc. Or a savings account that pays 5%, thats why i opened a (FD) account.
    Punctuation, Spelling and Grammar will be used sparingly. Due to rising costs of inflation.

    My contribution to MSE. Other contributions will only be used if they cost me nothing.

    Due to me being a tight git.
    • radoslaff
    • By radoslaff 23rd Nov 17, 4:29 PM
    • 41 Posts
    • 8 Thanks
    radoslaff
    I'm voting for Lloyds for no other reason but that that yesterday Halifax rejected my Halifax Clarity application. I know it's not professional but... I'm a Lloyds fan anyway.
    • SnowTiger
    • By SnowTiger 23rd Nov 17, 9:27 PM
    • 3,103 Posts
    • 2,084 Thanks
    SnowTiger
    I don't think there's much difference between Halifax, LLoyds and BoS.

    My BoS account was blocked recently because I made a suspect transfer. I then failed their security questions when I called them.

    I don't have a BoS branch near me and was asked to pop in to a local Halifax branch with ID.

    After my ID was checked I ended up speaking on the in-store phone to their security department. The guy I spoke to mentioned that my Halifax and Lloyds accounts had been suspended along with my BoS account.

    After I answered his questions all three accounts were unlocked.

    I think behind the scenes the three brands operate as one.

    Perhaps the better one is the one that offers what you need, where you need it.
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