Appointment required to open saving account?

nilrem_2

Is this going to be the next bit of hassle to contend with? I understand that some people need advice and it should be available if needed and it is fair that you might not be able to walk into a Bank or BS without an appointment for that advice. But myself and I suspect that quite a few people here know just what they want and wish to just visit a branch with all the paperwork made out and leave it with them to open the account.

A few months ago I wished to open an Fixed rate account with A & L and filled in all the forms, wrote out the cheque for the amount and took with me all the necessary ID, however I was asked if I had an appointment which I had not and they refused to take my money without it so I walked down the street and paid opened an account with Nationwide instead.

Now I have had the same experience at Northern Rock, I have always been able to walk into the branch with the paperwork filled in and they would open the account and post the stuff to me, this week they refused me and said I can only open an account if I have an appointment with them first!

Do other people find this annoying? Have you had this experience? I would like to know what other institutions insist on appointment to open an account so that I can avoid them.

OK some might find this petty but I really don't want to make an appointment, in the past it wasn't needed so why now?

juicyjude

INteresting post that. I was thinking of opening a fixed rate bond with NR if I have to make an appointment, will re consider. Dont need the hard sell, will take my money elsewhere.Feel the same as you Nilrem

Stompa

I assume these were accounts that couldn't simply be applied for online?

juicyjude

Sometimes its just nice to be able to go into branch, speak to a human being, give all your ID in personally and be given it back straight away, and know it has been verified, and get the staff to do the work. Job done, we hope, old fashioned I know, but just sometimes its nice.

nilrem_2

juicyjude wrote: »

INteresting post that. I was thinking of opening a fixed rate bond with NR if I have to make an appointment, will re consider. Dont need the hard sell, will take my money elsewhere.Feel the same as you Nilrem

Until recently I would go into the NR branch' in the High Street get the info and application forms or download the forms from the website; then return another day and it was a simple matter of handing them in, they had to send them to head office for processing anyway, last time I went in I was told that they can not do that and that I would have to make an appointment in future.

You could try your local NR in case it is just particular to some branches, I would be interested if all NR branches insisted on the appointment.

nilrem_2

Stompa wrote: »

I assume these were accounts that couldn't simply be applied for online?

You can apply online but it is a convoluted process, all they do is send you forms to fill in or allow you to d/l a form which you still have to post to them, I always found it much easier to just take the completed form into the branch especially as I passed it once a week, also I knew that they had got it!

nilrem_2

juicyjude wrote: »

Sometimes its just nice to be able to go into branch, speak to a human being, give all your ID in personally and be given it back straight away, and know it has been verified, and get the staff to do the work. Job done, we hope, old fashioned I know, but just sometimes its nice.

I agree entirely and that is exactly how NR did things until a few weeks ago.

I did visit the Nationwide this morning and they were happy to accept my savings etc without appointment, luckily their interest rates are better than NR ATM so I shall vist them again next week with my investments.

Andystriker

I suppose it depends on how much you want the account.

It does not bother me going to an appointment, and there is no way I will have any product other than the one I went in for.

Sure, they try and sell you other stuff and ask you personal details, but you just have to field their questions.

I opened and account at The Yorkshire BS the other week. Had to go for an appointment, and just fielded their questions.


Do you have any savings elsewhere?

No this is all my money coming to you.


Do you have any Life Insurance?

Don't want any thanks.


Do you have any ISA's?

Yes used up this years allowance thanks.

So you do have savings elsewhere?

Oh yes I have ISA's don't I.


Would you like us to Insure your house?

The wife does that so no thanks.



And so it goes on, but after about half an hour I get the account I wanted.

alanq

It does seem illogical that one can open an account by phone, online or by post without guidance but to open an account in branch one needs to sit with an approved person.

A couple of years ago Abbey lost me as a customer when I went in to open an account with completed forms and ID. They had no one free to open an account at that time and I was told to post my application in. I refused to put my ID in the post and asked them to copy my ID and accept the forms over the counter to deal with at their leisure. They refused and I tore up the forms before leaving.

I managed to open a NR account recently with little delay. They had no one free when I went in but I was given an appointment for 45 mins later.

In the case of YBS on the other hand I went in, asked for the forms, completed them in the branch, handed them over the counter with a cheque and was given a receipt for my application. The account was opened in my absence and a proper receipt arrived in the post the following morning.

opinions4u

The FSA require account providers to demonstrate that they have either given face to face customers advice on which account to have, or have ensured that the appropriate choice of products for a customer's needs have been explained.

Failure to do so could leave the bank or building society open to claims of mis-selling and, given the regulatory regime, the FOS would come down on the customer's side if there was no evidence of compliance with this requirement.

The only way to identify the customer's savings needs properly is to talk to them and ask them some questions. Without doing this, how would they know that you are opening the right account for your circumstances?

While it would be nice if they could see every customer there and then, it is inevitable that this wouldn't always be possible at busy times or when a number of staff are on holiday, ill, training courses etc.

Personally I see it as over-regulation that doesn't always benefit the customer. But the reality is, and some of the posts on this forum support the point, that most people in this country don't understand different types of savings accounts and the FSA believe that we should all be nannied as a result.

Jonbvn

opinions4u wrote: »

The FSA require account providers to demonstrate that they have either given face to face customers advice on which account to have, or have ensured that the appropriate choice of products for a customer's needs have been explained.

Failure to do so could leave the bank or building society open to claims of mis-selling and, given the regulatory regime, the FOS would come down on the customer's side if there was no evidence of compliance with this requirement.

The only way to identify the customer's savings needs properly is to talk to them and ask them some questions. Without doing this, how would they know that you are opening the right account for your circumstances?

While it would be nice if they could see every customer there and then, it is inevitable that this wouldn't always be possible at busy times or when a number of staff are on holiday, ill, training courses etc.

Personally I see it as over-regulation that doesn't always benefit the customer. But the reality is, and some of the posts on this forum support the point, that most people in this country don't understand different types of savings accounts and the FSA believe that we should all be nannied as a result.

I agree to a point. However, some of the banks/BS also use it as an opportunity to try and flog some of their rubbish products.