Please give your feedback on personal current accounts

webwiz

Charges should be closely related to the banks costs. So a reasonable rate of interest should be paid on credit balances, and a transaction charge equal to the banks actual cost of carrying out the transaction levied. Free banking would end, but some people with relatively large balances and few transactions would gain, and those with smaller balances but making more use of the bank's services would pay something. What could be fairer?

wiganshale

I want three things:
1.a promise to keep ATM's free of charges (else I'd join counter queue and draw out lump sums)
2. a promise to keep personal cheque system (I don't fancy sending currency, via the post, to those who, like myself don't have card readers and don't like giving out my bank details)
3. A promise not to give away money, to someone who claims to be me, and then take it out of my account, demanding proof that I'm not the person, who has defrauded them.

Dave_save

1. Transfers between banks should be instantaneous. This method of holding on to 'disappeared' cash for a few days, is nothing less than theft by the banks.
2. Banks should reward loyalty by giving consistent rates to ALL customers, not just to new ones.
3. Online banking should allow for more details on transactions. Each transaction line entry should show everything, not just a shortened version leading to guesswork.
4. Changes in interest rates should have a legal fixed time period time to take effect, both upwards and downwards, say 30 days.
5. Online banking pages should show the interest rates being applied to that product and also a note, in advance, when it's about to change. My bank hides this amongst a number of pages which are almost impossible to find.

Good luck, but I won't hold my breath!

jambosans

Dave_save wrote: »

4. Changes in interest rates should have a legal fixed time period time to take effect, both upwards and downwards, say 30 days.

I believe this is already the case. Under PSR banks/ credit institutions are required to give 2 months notice of changes, as opposed to the standard 30 days.

Inactive

Keep things just the way they are, they suit me fine.

Those that spend the banks money pay for the service, those that don't... don't.


Simples...

carlrom

All bank statements (paper/online/atm) should show the relevant interest rate(s).

leaphaze

Halifax is part of the fast payment scheme. If you transfer money to another bank in the scheme (i.e. A&L) it arrives there within 2 hours. If you transfer money to another bank not in the scheme (i.e. Nationwide), you're not even allowed to transfer the money the same day. The money can't leave the account until the following day! Why?

I don't know if Halifax are the only ones doing this.

philcooper_2

Most people have already mentioned most of what I wanted to say, however I to add one important thing:

I have always maintained my accounts prudently and have never been overdrawn; I now feel that I am being penalised for other people's irresponsible behaviour.

The interest and lending rates I receive are ludicrous. I would prefer it if banks rewarded customers who have a favourable track-record with substantially better lending and saving rates.

rachel_reeves

If you have a basic account with no overdraft facility, sometimes it is easy to go over (i have done so by £3) Lloyds TSB have sent me letters stating i owe £690 for being £3 overdrawn. if the suffiecient funds arnt in there then i strongly believe the banks should not let the transaction go through. i would rather go without then rack up a bill for £690... i wouldnt mind if i had spent that money, but going £3 overdrawn to incurr £690 charges is a bit much. More and more people are in financial hardship - why do banks always penalise the ones that struggle? it makes me sick.

bendix

I have accounts with Barclays in the Uk, NatWest in Jersey, Bank of New Zealand in Auckland and Siam Commercial Bank in Thailand.

I have never had anything but exceptional service from all of them, but then again I have never been overdrawn and - more importantly - I take an interest in my financial wellbeing.

I can't help thinking that a lot of common gripes about banks come from people who - frankly - don't understand banking 101 principles and bring the problems upon themselves.