COUTTS Bank - how much to be a customer?

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  • dmg24
    dmg24 Posts: 33,925 Forumite
    I am a self employed Designer so therefore I do not have a secretary/accountant or a financial advisor to look after my affairs so therefore it does matter what the statement says. I know that they do not look the same. That much I do know.

    If you do not have a secretary and/ or accountant then you do not have enough money to be a Coutts customer! ;)

    In my first job I had to write a letter to Coutts. Being a rather naive eighteen year old I wrote to Coutts Solicitors. The reply enclosed a copy of my letter, with a big circle round my error and a note stating 'We are a bank!'. :o

    Coutts statements used to be handwritten (a long time ago). I haven't seen one for a good few years, but they looked the same as any other statement last time I did.
    Gone ... or have I?
  • COOLTRIKERCHICK
    COOLTRIKERCHICK Posts: 10,510
    Combo Breaker First Post
    Forumite
    There is no way I am putting all my private financial data on this forum. Lol.


    lol.... even though i am nosey:D i am not that nosey;)

    what i meant was in general what type of wage/income is the starting point for them to consider you for an account.

    i must admit by some of hte posts it looks as though having one of these accounts is more of a status symbol, rather than having a good bank account...
    Work to live= not live to work
  • Kavanne
    Kavanne Posts: 5,093 Forumite
    Excuse me?! Yes I actually do have the income & the capital to easily meet their preset specifications. Anyway surely it is none of your business whether I do or not? As I said before I am only interested in having a look at an example bank statement so that I can understand it as I have severe dyslexia. After seeing said document I will then be able to make a decent decision.
    If you truly are eligible, phone them and when you have your first meeting with your Private Banker to set up your details they can explain it all to you then.
    Kavanne
    Nuns! Nuns! Reverse!

    'I do my job, do you do yours?'

  • Extant
    Extant Posts: 2,140 Forumite
    No chance for you honey if you have to ask :rolleyes::rolleyes::rolleyes::rolleyes::rolleyes:

    What sort of nonsense are you talking now?

    Different private banks have different client requirements; Coutts will actually take on people that some of the independent private banks - the real private banks - would never touch.

    Coutts is a BRAND NAME of RBS and has been little more than that for a long time. If you are really impressed by that, you live a very, very sad life and a financially moronic one when you consider that a) any bank will offer you the same banking facilities that Coutts do - and many won't charge arrangement fees on overdrafts etc. and b) a good IFA will serve you much better than what Coutts can in-house.

    A lot of people seem to place high credence on the fact that they're the supposed Royal bankers. But look at the British monarchy - I can't believe any of you look up to them!
    What would William Shatner do?
  • 03scrompton
    03scrompton Posts: 34 Forumite
    EarthBoy wrote: »
    How can you know that unless you've seen one? In which case you wouldn't be asking.

    Because one of my friends used to have an account with Coutts & she said that they are completely different.
  • 03scrompton
    03scrompton Posts: 34 Forumite
    dmg24 wrote: »
    If you do not have a secretary and/ or accountant then you do not have enough money to be a Coutts customer! ;)

    In my first job I had to write a letter to Coutts. Being a rather naive eighteen year old I wrote to Coutts Solicitors. The reply enclosed a copy of my letter, with a big circle round my error and a note stating 'We are a bank!'. :o

    Coutts statements used to be handwritten (a long time ago). I haven't seen one for a good few years, but they looked the same as any other statement last time I did.

    If one is working as a self-employed businessman then he/she would probably not employ an accountant.

    My dad is a self employed businessman and does not employ an accountant yet still could meet the specified requirements set by Coutts as he was seriously looking into getting an account with them. Unlucky!
  • 03scrompton
    03scrompton Posts: 34 Forumite
    lol.... even though i am nosey:D i am not that nosey;)

    what i meant was in general what type of wage/income is the starting point for them to consider you for an account.

    i must admit by some of hte posts it looks as though having one of these accounts is more of a status symbol, rather than having a good bank account...

    The first bracket is of a net income of £75,000 a year. Yes but the interest gained for the amount of money in there cannot be matched by any other bank. Coutts also has wider withdrawal limits (for instance Natwest's limit on a Debit Card is usually £250 however a Coutts card it is double that).
  • never-in-doubt
    never-in-doubt Posts: 20,613 Forumite
    edited 11 June 2009 at 1:29AM
    I am a self employed Designer so therefore I do not have a secretary/accountant or a financial advisor to look after my affairs so therefore it does matter what the statement says. I know that they do not look the same. That much I do know.

    Ahhh, a dyslexic self employed designer that doesn;t have an accountant.... that's a first! So tell me then, how do you complete your VAT/Payroll/Accounts/NI conts/ER liabilities/rates/H&S?

    You know what i'm getting at here surely? You must earn a lot to be looking at this account therefore you'd be above the VAT threshold, a higher rate tax payer (presumably) and ultimately you'd have to file accounts in some capacity.

    Correct me if i'm wrong but using dyslexia isn't really fair when it appears on face value that you're probably either; BS'ing or very lucky to have mild dyslexia in either case the point remains - book an appointment and see for yourself what they look like - i;m sure a prospective customer with half a mil net worth has a right to see a statement prior to opening an account?

    However, one also ponders the legitimacy and raises the doubt would you like to see an image so you can cut/paste things and make it appear that you have a Coutts account.... :cool: :rolleyes: ;)

    Only a cynic would think that of course :o
    :o 2010 - year of the troll :o

    Niddy - Over & Out :wave:
  • never-in-doubt
    never-in-doubt Posts: 20,613 Forumite
    If one is working as a self-employed businessman then he/she would probably not employ an accountant.

    I think you'll find this statement to be total nonsense, most SE people do have accountants! So do Directors of Ltd Co's etc.....

    High earners in general, or those with wide expense claims or lots of taxes usually do have accountants and you know why? They will save you money and allow perks and keep you out of prison for misleading the tax/vat man!

    Talk sense. Please :eek:
    :o 2010 - year of the troll :o

    Niddy - Over & Out :wave:
  • Extant
    Extant Posts: 2,140 Forumite
    The first bracket is of a net income of £75,000 a year. Yes but the interest gained for the amount of money in there cannot be matched by any other bank.

    Wow, you've been sucked right in by their branding. Some sort of belief that Coutts is a superstar bank.

    Coutts offers 0% interest on their current accounts. Same as most banks. Not even 0.1%.

    Coutts wealth management and investments fare no better or worse than those provided by any other bank.
    Coutts also has wider withdrawal limits (for instance Natwest's limit on a Debit Card is usually £250 however a Coutts card it is double that).

    £500? So what? First Direct do £500 on their cards. Barclays Premier is £750, and I've got two of them in my pocket.

    Again, nothing special there!
    What would William Shatner do?
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