The hidden cost of banking with smile

scoobie

I'm with smile and I should warn you the worst things about them is their bank statements or lack of..

The online ones have a poor layout and they charge you £2.50 per statement if you want them through the post. Home printed bank statements aren't acceptable in most situations where you are trying to prove your income , so you'll bound to end up forking out £2.50 at some point.

So, you might say, you can always get the statements for free online. ok, yes, but that takes times and time is money. Also I find I'm much less likely to check them online , its much more hassle than checking one you've got in the post that day...

..This means you're not keeping an eye on your balance and your spending habits... which could mount up to be a real hidden cost in the long run.

My advice - smile isn't all its cracked up to be.

gardnt1

Totally disagree I'm afraid!
Whole idea of online banking is that you do it online!
I've been with Smile since they first started and couldnt be happier with their service....never had problems with printed statements with other organisations either. Smile customer service if you ever need to speak are great.....its easy to see in my opinion why they seem to get many awards.

Bossyboots

scoobie wrote:

I'm with smile and I should warn you the worst things about them is their bank statements or lack of..

The online ones have a poor layout and they charge you £2.50 per statement if you want them through the post. Home printed bank statements aren't acceptable in most situations where you are trying to prove your income , so you'll bound to end up forking out £2.50 at some point.

So, you might say, you can always get the statements for free online. ok, yes, but that takes times and time is money. Also I find I'm much less likely to check them online , its much more hassle than checking one you've got in the post that day...

..This means you're not keeping an eye on your balance and your spending habits... which could mount up to be a real hidden cost in the long run.

My advice - smile isn't all its cracked up to be.

Apart from the paying for a paper statement, the problems outlined here are down to you not the bank. It is the same with any online banking, you have to put in the time to check. It is not smile's problem if you do not keep track of your spending and don't want to log on. You surely would only get a paper statement once a month but with online banking you can check your balance every single day if you wanted to. That is surely far more advantageous than discovering in the middle of the month when the paper one arrives that you have a problem and you can rectify the situation much sooner if you spot it online first.

soolin

I love my Smile account purely because it does update quickly online so I can always keep an eye on what my finances are doing.

Soo

scoobie

gardnt1 wrote:

Totally disagree I'm afraid!
Whole idea of online banking is that you do it online!

Then why do other banks with online banking send out statements?

The reality is you have to have real statements if you're applying for loans with other organisations, or dealing with the taxman. You can't do everything online.

homersimpson_3

before i offer possible solutions to this (don't want to mislead people) can someone please advise whether smile have any branches or is everything done on line. also does smile send you prepaid enevlopes. are they free?

oldagetraveller

Other banks with online facility more than likely are "traditional" in their operations, ie. high street branches etc. As some of their current account interest rates reflect!
Smile are online only and as such don't have any branches.
Yes, smile supply prepaid (1st class post) envelopes for paying in and writing to customer services. Just go to the customer services section of their website, after logging on, and all the options are there to choose, including the envelopes. Sent out to registered address very quickly.
I have been with smile for years and have never had any problems providing printed statements to other organisations for whatever reason. Barring a catastrophe I'll never change banks - perfectly happy with them.

soolin

homersimpson wrote:

before i offer possible solutions to this (don't want to mislead people) can someone please advise whether smile have any branches or is everything done on line. also does smile send you prepaid enevlopes. are they free?

Smile customers can use branches of the Co Operative bank if you can find one, otherwise they are entirely an internet bank.

Envelopes both for the Post Office and posting are free of charge.

Soo

Robert_Sterling

soolin wrote:

Smile customers can use branches of the Co Operative bank if you can find one. Soo

I have never seen one.

erb

I have just opened a smile current account. On their web site it says you can pay cash and cheques in to smile account at the Post Office. The envolpes smile sent me to pay in at the Post Office say do not include cash. Anyone know how to pay cash into your smile account at the Post Office?

homersimpson_3

the only reason i asked what smile do, is because i raised similiar queries when opening my bank account -alliance and leceister. all the banking is done on line- you have to print off statements and they don't send you paper ones. when i opened account i asked the man what if someone wanted a copy of a statement and wouldn't accept one printed off internet. the man said i had to bring it into branch and get the branch to stamp it and they had no problems with any company accepting internet statements with their branch stamp. would the co-op stamp a smile internet statement or are smile and co-op regarded as seperate. if not print off internet statement, send it to smile and ask them to stamp it or write a letter on their letterheaded note paper that internet statement is genuine and that comoany can phone them directly if any problems to check. if smile are providing prepaid envelopes won't cost you anything because they're paying for postage.