Handelsbanken

jinkster

I am thinking of opening an account with Handelsbanken.

Does anyone have any comments/ advice regarding these?
Thanks.

Baldur

jinkster wrote: »

I am thinking of opening an account with Handelsbanken.

Does anyone have any comments/ advice regarding these?

Deposits are 'passport' protected by the Swedish scheme up to £44,625.00/500,000 SEK (dependant upon exchange rate) with any top-up to the current £50,000 FSCS limit being covered by the FSCS - see http://www.handelsbanken.co.uk/shb/inet/icentrb.nsf/vlookuppics/handelsbankenrb_cash_isa_key_features_2010/$file/cash-isa-key-features-2010.pdf

Not for me, thanks.

jinkster

Thanks for the advice, I was looking at current accounts rather than savings.

Baldur

jinkster wrote: »

Thanks for the advice, I was looking at current accounts rather than savings.

Presumably you'll still be making deposits into a current account?

In the event of the bank's failure, the same convoluted protection/claims process would apply.

jinkster

Baldur - do you think this bank is another Northern Rock/ Icesave?

Baldur

I don't know but, personally, I would avoid any bank which operates via a 'passported' scheme, without full FSCS cover.

Voyager2002

I understand that it is essentially a wealthy person's bank, similar to Coutt's. Despite its name, it has no connection with the composer of the Messiah and in fact does very little to sponsor musical life. So not much point banking with them.

jinkster

I spoke to them earlier and there is no minimum bank balance/ no charges.

System

It's a Swedish 'High Street' bank.
I got the impression that they were aiming more for business customers.

Voyager2002 wrote: »

I understand that it is essentially a wealthy person's bank, similar to Coutt's. Despite its name, it has no connection with the composer of the Messiah and in fact does very little to sponsor musical life. So not much point banking with them.

Baldur

Heng_Leng wrote: »

I got the impression that they were aiming more for business customers.

They are certainly not aiming to attract large numbers of individual savers, judging by their Cash ISA interest rate of 1% AER variable - which appears only to be available to existing customers.

inmypocketnottheirs

Svenska Handelsbank certainly seems good enough for this deal:

www.handelsbanken.se/shb/inet/ireg1rb.nsf/vlookuppics/swindon_testimonial1/$file/testimonial.pdf