Fed Up with my Current Account

DiggingOut

Was with Bank of Scotland, and the merger with Halifax has messed up all kinds of things for me. I've had it, I'm changing.

In order of priority, I want:
1. Good customer service.
2. A good interest rate (I pay in a lot every couple of months, then no more until it is gone, but the average balance is pretty high).
3. Flexibility -- these accounts that you have to pay in a set amount each month don't work well for me, because of the way my money comes in.
4. Online banking.
5. The ability to go into a branch if something goes wrong and let my kids run around and scream and terrorize the place until they sort out the problem.
6. Extras/signup bonus/etc.

Anyone have any thoughts/recommendations? I've had so much trouble with HBOS that if I took my kids in every time, they would get arrested....

nearlyrich

All except for point number five you can't beat First Direct in my opinion.

I have never had any problems in 14 years so I haven't needed to go in to a branch and throw a stroppie.

You need to check which account you open if you aren't paying in a regular salary or £1000 per month.

Tony_H_3

3. Flexibility -- these accounts that you have to pay in a set amount each month don't work well for me, because of the way my money comes in.

A possible solution to this could be to "pay-in" the desired amount monthly into your new account, which offers all of your other points. For example, egg.com savings accounts do allow you to make regular automated payments into a different current account. You'll obviously be more aware about whether this would be feasible according to your circumstances & needs.

DiggingOut

nearlyrich wrote:

All except for point number five you can't beat First Direct in my opinion.

Interest rate on their current accounts isn't great, though, is it?

DiggingOut

Tony_H wrote:

A possible solution to this could be to "pay-in" the desired amount monthly into your new account, which offers all of your other points. For example, egg.com savings accounts do allow you to make regular automated payments into a different current account. You'll obviously be more aware about whether this would be feasible according to your circumstances & needs.

Oh, good idea! You're pretty smart. I wonder when I grow up and have over 1000 posts if I'll be as smart.

Oh, well, I'll never grow up. But thanks for the idea, I think that will work. :cool:

moomintroll_3

DiggingOut wrote:

Interest rate on their current accounts isn't great, though, is it?

2% on the current account subject to the usual caveats...

"If you do not credit your account each month with at least £1000 or maintain a minimum balance of £1000, the credit interest rate payable on your credit balances will be 0.10% AER (0.10% Gross p.a. and 0.08% Net p.a.)."

I've *just* switched to them away from the Halifax who I'd banked with for 18 years (the Halifax really messed me about with something, took 2 months to get sorted and then not really to my satisfaction)... During the switch there has been absolutely no attempt by the Halifax to keep my business, an action I believe says everything you need to know about what they think of their customers.

So far, I'm very happy with FD. Ask a question via the secure site, it gets answered within a day normally. I've called a couple of times and got through to people who can both answer my questions and are nice about it in the process.

Customer service is worth more to me than an extra 1% interest on my current account.

G

nearlyrich

DiggingOut wrote:

Interest rate on their current accounts isn't great, though, is it?

Yeah but I'm old enough (just) to remember paying 10p per cheque so any interest on a current account is a bonus to me (LOL). I was really impressed the other day when I got £3.72 paid to me and no interest paid out, makes a change.

In all seriousness I only keep enough in to pay my DDs and the rest goes to ING.
I would not swap the fantastic service from FD for a couple of quid per month interest.

System

DiggingOut wrote:

Interest rate on their current accounts isn't great, though, is it?

I dont think any of the high street banks pay a decent amount of interest compared to the online banks.

I think its about prioritising your needs. I have the LLoyds Classic Plus account, but i am able to put in the minimum amount needed to give me the extra interest but leave as little in it as i can before shifting any surplus into an online savings account. My bank doesnt make much money out of me i can tell you.

My husband has the same account but hes an awkward customer. They know him by name (to avoid no doubt). He went into the branch a couple of weeks ago to open up a business account, they told him what he would need to do, and he told them what he intended to do. His version didnt quite match up to their requirements. So at this point i walked off. He got his business account though, and they agreed to his demands.

Ps if your kids are running riot, they will see to you faster.;)

DiggingOut

Judi wrote:

Ps if your kids are running riot, they will see to you faster.;)

Ah, confession! Is that why they gave him his demands on the business account?

Maybe First Direct is best -- customer service is #1 for me. I guess they are offering £25, does Martin have an affiliated link that will earn him a little if I use it? Couldn't find one, but must admit I didn't look very hard....

System

DiggingOut wrote:

Ah, confession! Is that why they gave him his demands on the business account?

Nothing to do with the kids i am afraid.:o He was a salesman for 15 years and he is pretty good at getting his own way.

Darryl

DiggingOut wrote:

... does Martin have an affiliated link that will earn him a little if I use it? Couldn't find one, but must admit I didn't look very hard....

If you use Martin's current account price comparison link:
http://www.moneysupermarket.com/Link.asp?Source=MSE&Section=currentaccounts
Then this site will get some cash for the link. First Direct are listed under the Best Selling accounts / Best Rate table on this page.

Hope this helps

Darryl.