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Advice on changing bank account from Santander?
Comments
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I don't know where you heard coop is not safe? You need to be careful with security for online banking whichever bank you choose. I find LTSB with Vantage to be a good no nonsense bank account and in my case gives me a healthy 4% return.
I remember I read that they had taken over a couple of other banks that were in trouble, which would suggest they are not as safe as they seem. Although I am not suggesting they are unsafe!
I'm currently considering switching to Halifax or Cooperative. The latter has an offer on at the moment where you can get the Privilege Premier Current Account fee-free for a year (normally £9.50 a month).'The journey home, is never too far...'
'Wasting money is an insult to people who don't have any'
Reducing my spending, one month at a time...0 -
Would echo what the guys have posted most banks are going to be better than Santander, Lloyds are good have no problems with them Halifax offered me an account when nobody else probably would. I have had bad issues with HSBC but that might just be me !!!0
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Unsure if a rewards account is worth the money? I would use most of the things they provide but £12.50 seems a lot (but not if Halifax give me £5 a month). What are the general views on such accounts?'The journey home, is never too far...'
'Wasting money is an insult to people who don't have any'
Reducing my spending, one month at a time...0 -
Unsure if a rewards account is worth the money? I would use most of the things they provide but £12.50 seems a lot (but not if Halifax give me £5 a month). What are the general views on such accounts?
£5 a month is £60 a year. Certainly worth having, but not worth the effort of switching if this a poor reward for poor service."A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
Ride hard or stay home :iloveyou:0 -
I think you can buy those extra services for less than £12.50. Please remember these services are sub-contracted. The bank do not provide break down recovery or deal with your insurance claim etc.
£5 a month is £60 a year. Certainly worth having, but not worth the effort of switching if this a poor reward for poor service.
Thanks I'm going to apply for an account without the monthly payments but where I receive £5 a month. Just means I'll have to pay my salary into my account which is what I planned on doing anyway!'The journey home, is never too far...'
'Wasting money is an insult to people who don't have any'
Reducing my spending, one month at a time...0 -
From the complaints I have read on this forum and in the media any bank will be better than Santander!
If what you are after is trouble free banking, I would recommend the two banks which always come in the top 2 for customer satisfaction. They are of course First Direct and the Co-op Bank.
Both bank are safe.0 -
Thanks I'm going to apply for an account without the monthly payments but where I receive £5 a month.
I believe some of the cashback sites had an offer as well.Just means I'll have to pay my salary into my account which is what I planned on doing anyway!
* Don't get excited; there's now a limit of 1 sole and 1 joint per account holder.0 -
I've been happy with a friendly and efficient service from both Halifax and First Direct. Plus they both seem to be offering switching incentives at the moment!
In terms of safety as long as you go for a bank covered by the FSCS and don't hold more than £50,000 in that particular banking group you shoul be covered, see http://www.moneysavingexpert.com/savings/safe-savings0 -
Thanks for all your advice and suggestions
I have decided to open an account with First Direct and they are in the process of sending out the forms for me to sign. Telephone/online banking is the best option for me as I live fairly remotely with the nearest bank being about 25 miles away.
I plan on moving my savings accounts and ISA over from Santander to Halifax over the next couple of months. I may decide to open up a Halifax Current Account to get the £5 a month too.
Hopefully this won't interfere with my mortgage (awaiting a completion date) as the direct debit has already been set up with my Santander account so it should get transferred during the switching process?
Many thanks again!'The journey home, is never too far...'
'Wasting money is an insult to people who don't have any'
Reducing my spending, one month at a time...0 -
Thanks for all your advice and suggestions
I have decided to open an account with First Direct and they are in the process of sending out the forms for me to sign. Telephone/online banking is the best option for me as I live fairly remotely with the nearest bank being about 25 miles away.
I plan on moving my savings accounts and ISA over from Santander to Halifax over the next couple of months. I may decide to open up a Halifax Current Account to get the £5 a month too.
Hopefully this won't interfere with my mortgage (awaiting a completion date) as the direct debit has already been set up with my Santander account so it should get transferred during the switching process?
Many thanks again!
Good luck with your bank move!
Remember that for your FD account you can use HSBC branches to pay in money/cheques if you happen to have an HSBC branch nearby. If that's not an option you can ask FD to send you prepaid envelopes and paying in slips for paying in cheques.0
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