Best current acct??

pmduk

Stclair describes one way of doing it. That way all the admin will be done by RBS at a date and time of their choosing. I preferred to keep control of the situation and went online at the RBS website and opened a new account. I listed the direct debits and contacted the firms concerned and gave them the new dd details, extracting a date from them that they would begin to use the new account. Then cancelled the old dd as the last payment had been taken. Sounds very confusing, but was actually quite easy.

pmduk

Going with a building society seems another quick way of ending up with the dreaded santander. viz Abbey, Alliance & Leicester and the many other societies incorporated into those 2 previous giants.

GillM

janie wrote: »

Had wondered about that. What's the internet banking like with them? I never need to go into a branch anymore - nobody gives me cheques:(
This is a big decision I think. And one that needs careful consideration - and one I could do without, but hey ho such is life:)

I've had a flexaccount with Nationwide for over 20 years and used on-line banking since it was introduced. I've never had any problems with the on-line banking (unlike Halifax/RBS which are not bad but do have glitches from time to time). The only time I ever had a problem with the account (years ago - can't remember the details now but it was something to do with a direct debit) they sorted the problem very quickly and paid me £10 compensation. I definitely recommend them.

tony6403

I am this week going to move my current account from Yorkshire Bank. Their conduct of my account has been faultless , my only gripes are the waiting times when I go into the bank and , more particularly , the fact that I get nothing by way of interest on my account balance.
I am drawn to Santander because of their offer of £100 and the 2.5% interest on up to £2,500 in the account.
I can see that Santander are unpopular on here , but what sort of maladministration am I at risk from?

AnonymousForObviousReason

@tony6403: Customer service is the main problem, as soon as something problematic happens you're chasing around for help without any chance of getting it. Trying to get to talk to a human is difficult and then there is the likelihood of being cut off or just plain lied to. This isn't just a phone centre issue either the staff in branch are also quite clueless.

Problems people have include, losing internet banking access (days, weeks or months to restore), double taking or DD or SO, accounts being charged underfunding fees - even though correct amount of money being paid in, DD not being actioned (this is due to changing sort codes but typical of chaos caused without thought or warning), losing documentation, losing ISAs, gaining ISAs (not so bad buy criminal if you spend), loosing people (I exist as a current account but am a completely different person as an ISA customer because I have the first line of my address repeated), etc.

Interest rates and £100 is a good incentive but the risks are also quite high, I've been personally affected by this lot and will advise you the risk is not worth the return. I've since moved bank and am waiting for the problems others have of Santander not releasing DD and SO details to new bank.

Fedz

janie wrote: »

Had wondered about that. What's the internet banking like with them? I never need to go into a branch anymore - nobody gives me cheques:(
This is a big decision I think. And one that needs careful consideration - and one I could do without, but hey ho such is life:)

Personally I like Nationwide & their online banking is nicely laid out, easy to understand & ... well works

If it's a British bank you're after then Co-op is the way to go

Fedz

pmduk wrote: »

Going with a building society seems another quick way of ending up with the dreaded santander. viz Abbey, Alliance & Leicester and the many other societies incorporated into those 2 previous giants.

I wouldn't coin it 'another quick way'. It takes quite a long while through member voting if this was going to happen.

Besides Santander has enough on it's plate with shabby Abbey, A&L, RBS (UK) & NatWest (Scotland) - they know they couldn't handle any more at the moment.

So UK Building Societies remain British for quite some time yet

knightfox

pmduk wrote: »

Going with a building society seems another quick way of ending up with the dreaded santander. viz Abbey, Alliance & Leicester and the many other societies incorporated into those 2 previous giants.

I dont know if Santander will have even thought of any other BS. They are busy buying RBS etc. Then I would have thought that they would be interested in Lloyd and what they need to sell. After that then it is almost certain that any more buying with need approval from regulators. Which I would think they would not get.

Anyway there is a constant rumour that Santander UK is going to be floated on the London Stock market. Therefore making Santander British.

Baldur

Neither Abbey or Alliance & Leicester were Building Societies when they merged into the Santander behemoth, they had already demutualised - Abbey in 1989 and A&L in 1997, so hardly a rapid process.......

janie

Fedz wrote: »

Personally I like Nationwide & their online banking is nicely laid out, easy to understand & ... well works

If it's a British bank you're after then Co-op is the way to go

Do theNationwide have a 'buffer' zone on their current acct? I have one with RBS of £100 & so never have to go into my true overdraft & therefore don't get charged. Have looked at website & it doesn't seem to mention this.