Best current account for me

hyposmurf

Im currently with Halifax,pretty fed up with the poor service they offer.Been with them since I was a child but their service has just got really poor over the past two years and their rates are crap.I dont go into my overdraft and am looking for a current account with highest APR.
Im looking at the A&L Premier Direct account.What drawbacks/restrictions are there to the account?Are there any cgarges for having the account?I looked at Halifax reward account (£5 a month) which all seemed fine until I realised they charge you for the account.
Can also get £45 back from quidco for changing.Whats the change over process like?
I have a number of direct debits that come out each month so would need to ensure these are all set up in time,whats the process like?

opinions4u

hyposmurf wrote: »

I looked at Halifax reward account (£5 a month) which all seemed fine until I realised they charge you for the account.

They don't charge you for the Reward account and that pays the fiver a month. They charge you for the Ultimate Reward Account.

If you're funding the account with £1000 a month you get the fiver - which will, for most people, be more than the highest APR on an alternative account elsewhere.

What are the service issues that have affected you?

You might have been best posting this on the Budgeting & Bank Accounts part of the forum.

G_M

Try posting in the bank account forum here. and read the threads there.

Halifax reward - no charges to get the £5 pm. But crippling daily overdraft charges.
A&L - good rate but rubbish service.

Direct Debits - whoever you go for will offer a 'switching' service. My advice is to ignore it and do it yourself. Get a list of your DDs, standing orders, salary credits etc. Some you can amend instantly either online or by phone, some you'll need to write to. Keep a record of who you contacted and when. YOU won't mess it up, the bank will!

(mind you, when they mess up you can complain and demand £25/£50 'compensation' - but you have to live with your salary going to one account while the DDs come out of the other!)

ses6jwg

If it is service you value, I would hesitate before joining "Santander"

Lokolo

APR is also used for borrowing. AER is for savings. So I doubt you want the highest APR....

And if you want the highest interest rate get a savings accounts, thats what they are there for.

It amazes me how people want lots of credit interest on current accounts.

But I also agree with what the other posters have said.

rb10

Lokolo wrote: »

It amazes me how people want lots of credit interest on current accounts.

Those of us who are in credit keep, on average, a little over £1000 in our current account.

That is a lot of money to keep at an 0% or 0.1% interest rate, so if the bank is going to give you 6% interest on this (ignoring any potential customer service issues here) or £5 per month then it's well worth taking.

butterfly72

hyposmurf wrote: »

Im currently with Halifax,pretty fed up with the poor service they offer.Been with them since I was a child but their service has just got really poor over the past two years and their rates are crap.I dont go into my overdraft and am looking for a current account with highest APR.
Im looking at the A&L Premier Direct account.?

Don't expect better service with A&L. they are just terrible and I would avoid at all costs!! Type them into the search and just take a look at the many threads complaining about the awful service. Also, the onlline system is very poor compared to Halifax. Its not in real time for your viewing or for the numpties.. umm I mean, customer service assistants at A&L. This can cause all sorts of problems. Also, they seem to have a habit of sending out SO/DD twice. They did this to me and it caused me to go OD. It took months to sort.

hyposmurf

Lokolo wrote: »

APR is also used for borrowing. AER is for savings. So I doubt you want the highest APR....

And if you want the highest interest rate get a savings accounts, thats what they are there for.

It amazes me how people want lots of credit interest on current accounts.

But I also agree with what the other posters have said.

Yes my slip, meant AER.Yes ideally I'd like the highest rate I can get for the current account, at the moment I just keep what I need in my CC and after my bills are out switch most the balance over to a savings account.But if the A&L offers a high rate would be easier for me just to keep my money in one account.

hyposmurf

rb10 wrote: »

Those of us who are in credit keep, on average, a little over £1000 in our current account.

That is a lot of money to keep at an 0% or 0.1% interest rate, so if the bank is going to give you 6% interest on this (ignoring any potential customer service issues here) or £5 per month then it's well worth taking.

Yes thats what I was thinking, but also curious as to where the catch is.Problems with Halifax I've had are card chewed up in machine,told to visit my bank to get another but the staff telling me our branch is too small youll have to visit another.The service was pretty poor to.Set up a fixed rate ISA with them and they screwed it up over and over again.Switched funds over from Icesave.They had no idea how to do it,visited them numerous times and they just looked bamboozled.Surely they wouldve had an internal memo going around or some info regarding this type of set up.It was months after the Icesave problem,not exactly something a bank should not be aware of.Eventually set up my ISA but at a lower rate.Really unprofessional service.Their cash machine has been out of order regarding deposits 90% of the time I've visited it.Wanted to cancel my Visa years ago they said I'd be better off to keep it, so I did even though I didnt use it.Recently wanted to use it but oh joy they have cancelled it.Also set me up on the wrong credit card in the past.

Thanks for all your comments I might stay clear of A&L.

G_M

Get the best rate you can for your savings account(s).

For your current account, I don't think the rate is the most important element. Reliability, service, good internet/phone access, Faster Payments - these are more important for a working account.