Please give your feedback on personal current accounts

typos1

Re: The xenophobic posts about call centre locations: It doesnt matter WHERE the call centre is, it could be on Mars for all I care, the location is irrelevant...as long as they can fully converse in English.

huw01

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

English people ? Well I guess that leaves us Welsh, Scots and Irish out of it as well ! :rotfl:

On the other hand, HSBC does have a Welsh Language Call Centre in Swansea and it's brilliant. I can speak to a person in Welsh and do all of my phonebaking through the medium of Welsh which is brilliant.

Another advantage of being Welsh - try contracting a Welsh speaking phonebanking service to the sub continent !

Leoglas

Most transactions are in the favour of the banks and not the customer. It's about time we saw the end of the archaic system of waiting 7 days for a cheque to clear. This is the age of the internet. If I can buy something online from halfway across the world and have my account debited within 24 hrs, then surely the draconian British banking system can clear a cheque in much less time than that. Eg: my daughter has often been paid her monthly wage by cheque, which means she has to wait another 7 days for it to "hit" her account, while the bank makes a nice little earner from the interest and aims to charge her for failed direct debit payments (had she not the funds). Come on Martin, get hold of this and shake it until the banks listen.

opinions4u

Leoglas wrote: »

It's about time we saw the end of the archaic system of waiting 7 days for a cheque to clear.

The whole concept of the cheque is archaic. The clearing cycle is an inevitability of that.

The solution is to stop using cheques when so many other methods of transferring money exist.

This is the age of the internet.

It is. So don't use cheques then.

If I can buy something online from halfway across the world and have my account debited within 24 hrs, then surely the draconian British banking system can clear a cheque in much less time than that.

It's the "draconian British banking system" that enables your account to be debited in 24 hours. Can you not see this?

The same "draconian British banking system" is phasing out cheques over the next few years anyway.

Eg: my daughter has often been paid her monthly wage by cheque

So it is her employer that is in the dark ages, not the banks.

which means she has to wait another 7 days for it to "hit" her account, while the bank makes a nice little earner from the interest

Please can you explain how the bank is earning interest on this? (I believe they pay interest from the day after a cheque is deposited, even though the clearing process may not provide them with the funds until several days later).

and aims to charge her for failed direct debit payments (had she not the funds).

So she's not managing her money very well if she knows how long the cheque will take to clear but still gets charged.

Come on Martin, get hold of this and shake it until the banks listen

Many genuine gripes about banks are posted on these boards.

But to blame the banks for your daughter's employer paying her by cheque and then your daughter being unable to manage her money is ridiculous.

jw2003

I have an Alliance & Leicester Premier Direct account and most of the time it's fine, I use it on a daily basis, I have withdrawn large amounts in cash within minutes of making the phonecall, I have forgotten about purchases I made and phone querying transactions, a cheque was deposited early once and they increased my overdraft for a few days to avoid charges, I am in and out of my agreed overdraft all the time and their (fully advertised) charges are clear and only apply to the monthly limit BUT sometimes I wish they would use their own common sense a bit more - when I have had a real problem they have not been able to help because the computer says no

visjig

:money:Banks should stop taking Direct Debits for February 1st on January 31st!!!!!!!!!! Bloody theives.........

jambosans

visjig wrote: »

:money:Banks should stop taking Direct Debits for February 1st on January 31st!!!!!!!!!! Bloody theives.........

Is it actually dated the 31st of January, or post-dated the 1st of February? I would assume it's the latter, and therefore it makes no difference that it shows debited today but dated tomorrow.

3guesses

Kashim wrote: »

I would like to see the banking system completely changed.

:
:

3. Banks should not charge interest for lending, instead they should be investors in the business or a property purchase where they would share the risks and reward. Ideally it should be nationalised and acting as a service provider rather than a money making scheme for the rich and subjugate the poor.

Generally speaking, there are 2 types of financing: DEBT and EQUITY. In DEBT financing, you lend money and have it paid back with interest. In EQUITY financing, you invest money and receive a part ownership; as a result, you are entitled to a share of the profits. What you describe in 3. is EQUITY financing. This is the purpose of BOURSES (stock markets) - to allow companies to raise finance by selling a part ownership (shares). Most banks do have private equity divisions, but their principal purpose is to take deposits from those with excess funds to LEND to those who require it.

3guesses

rogerbloxham wrote: »

i have attempted to change banks twice and, on each occasion met with chaos, confusion and stonewalling - why is it so difficult?

Did you read my post on "PORTING" bank accounts (in the same way you port a mobile phone number when switching mobile provider)? As I write, not a single person has referred to the suggestion; instead, most seem to whinge on about all the things their bank does which they hate, while simultaneously failing to recognise that the best way to get the banks to change their behaviour is to vote with your feet (capitalism!). But to make that a feasible proposition, the process of switching/transferring a current account must be simple and seamless: hence, the "porting" approach...

cottager

visjig wrote: »

Banks should stop taking Direct Debits for February 1st on January 31st!!!!!!!!!! Bloody theives.........

If the due date is Feb 1st, it shouldn't be taken earlier... and I'd almost bet money it isn't.

Using your example: depending when a bank's systems are updated, as early as from about 7-8 a.m. on Saturday 30th Jan a DD due out on Monday 1st Feb may well show up, but it's only 'earmarked' (and thus comes off the available balance). It doesn't leave the account till the due date Monday 1st. Check on Tuesday, and the date it left should be 1st, not Jan 30th or 31st.

At Natwest what we see on Sat/Sun is in fact Monday's situation in advance. They update Friday's transactions in the early hours of Saturday, and then it's Monday as far as the system's concerned -- weekends don't exist. But of course we can still log in to the account Sat/Sun and at first glance it could look as if a payment's been taken early. If we didn't and only looked on the Monday, nothing would seem out of the ordinary.