Please give your feedback on personal current accounts

dszen

Why do banks say they do a basic account that is for those who have, or have had bad credit, with no overdraft etc, but then deny you it.
For those finding it hard, a basic account with direct debit facility would save us money with companies like BT that charge for non DD payment. And like sky who require DD to set up a service.

typos1

meltheoriginal wrote: »

I don't understand why it takes so long for money that I transfer, for example, from my account to my flat mate's other bank account takes so long to arrive. In Australia it takes 24 hours. Here it can take up to 3 days. Where does this money go?...

They do it for the money-the money goes into their account and earns them interest for a few days, they earn billons every year like this.

meltheoriginal wrote: »

Overdraft fees here are ridiculous. And I keep telling my bank I don't want to be allowed to go into overdraft but they don't seem to care....

They set up a series of traps so its easy to go overdrawn, so they can charge you-they make billions every year like this.

meltheoriginal wrote: »

...Bsaically, with Uk bank accounts things seem to take forever to happen. And I don't understand WHY.

They hold on to your money for days so they can have the interest-they make billions every year like this.

It should be law that overdrafts are charged only on an interest basis and there should be a maximum rate-25% I reckon.

Every payment should be instant.

Satements should HAVE to show the interest rate.

JacksterD

I'd like everything to be faster. Faster Payments should be fully implemented by all banks and a minimum limit should be specified, for example all bank's minimum limit must be £1000, but they may set their limit higher if they want.

Debit card transactions should be much quicker - preferably instant. If all debit card transactions were instant it would give some people a much better idea of how much they can spend, and would also end the problem of full-auth Visa Debits not working everywhere.

Online banking should show exactly how much is in your account. This isn't a problem for most banks but some banks, like the Co-Operative, don't even update the 'Available Balance' after a debit card transaction until the money has left your account.

Finally, banks should be encouraged to give customers a better idea of what's in their account. Mobile phone banking (SMS and Apps) should be promoted. Customers should be able to set up email and SMS alerts to tell them when money is taken from their account.

johnnie_consho

the first thing I would do is to sack all the call centre workers from abroad..the system needs to be regulated so that we can speak to english people not staff abroad who can hardly spaek our language and are working for butttons so that the banks can reap more profits..I took out my Lloyds tsb account in this country and expect to be able to speak to someone in this country when I have a query. at the moment I am forced to go the CEO of the bank to look for a remedy to a problem caused by a third world person who did not give me the correct information becasue he did not understand what I was saying to him..It is not the fault of the thirdl world person who doubtless is glad of the wage but the fault of the fat cat bankers

izools

johnnie_consho wrote: »

the first thing I would do is to sack all the call centre workers from abroad..the system needs to be regulated so that we can speak to english people not staff abroad who can hardly spaek our language and are working for butttons so that the banks can reap more profits..I took out my Lloyds tsb account in this country and expect to be able to speak to someone in this country when I have a query. at the moment I am forced to go the CEO of the bank to look for a remedy to a problem caused by a third world person who did not give me the correct information becasue he did not understand what I was saying to him..It is not the fault of the thirdl world person who doubtless is glad of the wage but the fault of the fat cat bankers

Every time I call Lloyds TSB I get through to someone in the UK. Which Lloyds TSB are you with!?

chipbeck

izools wrote: »

Every time I call Lloyds TSB I get through to someone in the UK. Which Lloyds TSB are you with!?

Possibly lloyds TSB Collections.

I got a call from a nice Indian man who wanted to know what I spent my money on.

Salah_3

Many of us have inccurred banks charges for unauthorised overdraft while possesing at least one other account well in credit with the same bank.
I suggest that when setting up or updating bank accounts, we should have the facility to link 2 or more accounts so as to have default accounts if one is not in credit, the money due comes from another account within the same bank/branch.

halisant

I made a transfer to another bank via the internet from Santander and was infromed that it will take 4 days which robs me of interest and right to transfer my money within 2 hours which I have been told is possible.

Banks should be made to transfer money within 1 day as in other EU countries. The politicians have a lot at stake and do not have any intention to do this, so the banks will hold our money to ransom and get interest for 4 days before transfers.

I will be writing to the Chancellor (old and new) and asking why it can not be enshrined into Law. After all, OUR money is bailing the banks out.

PammyT

Although my bank contacts me by email and text they chose to use snail mail to sent a letter telling me I was overdrawn. I was really annoyed that they had used the slowest means of communication to get in touch. They defended the non-use of email by claiming the branches didn't have email access (local claim), and due to security (claimed by national head office).
No mention of texts which they regularly use for touting for business and I sure could be adapted to even just alert you to an overdrawn account, no need for long explanation - your overdrawn, go check it out.
The letter took 4 days to be delivered giving them 4 days worth of penalties before I was any the wiser.

rb10

halisant wrote: »

Banks should be made to transfer money within 1 day as in other EU countries. The politicians have a lot at stake and do not have any intention to do this, so the banks will hold our money to ransom and get interest for 4 days before transfers.

I will be writing to the Chancellor (old and new) and asking why it can not be enshrined into Law. After all, OUR money is bailing the banks out.

You are too late.

Take a look at Regulation 70 parts (1) and (2) here.