I'm switching to Handelsbanken

jinkster

I am in the middle of switching to Handelsbanken from Nationwide.

1) Called the local branch as they operate on a postcode system - you have to open your account at the branch in your postcode area

2) Had a friendly chat - wanted to see bank statements, proof of ID etc.

3) Explained that they want customers to stay with them for along time

All sounds good so far.....I'll keep you posted!

KTF

What do they offer that Nationwide dont?

jinkster

A personal friendly service that does not cost - basically its like having a private bank account that does not include eligibility criteria and a monthly fee.

I did some research and it sounds like some Coutts customers have moved to Handelsbanken.

Only time will tell I guess!

MrsTinks

Amazing that the concept has taken this long to come over from Scandinavia They're well established there and I think we used to have an account with them about 15 years ago when I lived in Norway...
Might ponder returning to them but annoyingly they are 15 miles and £1.80 per hour parking away... so maybe not *sigh*

jinkster

It would be worth giving them a call - all they ask if you go down for a chat. Perhaps they have free parking aswell.

Degenerate

KTF wrote: »

What do they offer that Nationwide dont?

That warm feeling that comes from being covered by the EEA passport scheme, and having your Sterling deposits protected by a non-Sterling country's deposit guarantee, just like IceSave.

Olipro

of course it's worth noting that Iceland isn't in the EU and has a population that's roughly the size of Coventry.

Sweden on the other hand... well, it's self-evident.

Degenerate

Olipro wrote: »

of course it's worth noting that Iceland isn't in the EU and has a population that's roughly the size of Coventry.

Sweden on the other hand... well, it's self-evident.

There's only one Government in the world with unlimited capacity to back Sterling deposits, and it isn't Sweden.

They may be a better bet than Iceland, but the very concept of the passport scheme is perverse, IMO - Icesave demonstrated that. Handelsbanken should bring their UK operations under a FSA license and into the FSCS. I regard any bank operating in the UK that doesn't with suspicion.

Olipro

Degenerate wrote: »

There's only one Government in the world with unlimited capacity to back Sterling deposits, and it isn't Sweden.

They may be a better bet than Iceland, but the very concept of the passport scheme is perverse, IMO - Icesave demonstrated that. Handelsbanken should bring their UK operations under a FSA license and into the FSCS. I regard any bank operating in the UK that doesn't with suspicion.

Given the size of Sweden's economy, I doubt the collapse of Handelsbanken would be something the Swedish government would be driven to renege on on a "too big to save" basis... not to mention the fact that if Iceland, an non-EU member can come to an arrangement with the UK government then frankly, I don't see it as politically feasible for Sweden to stick two fingers up at other EU savers.

premierfella

jinkster wrote: »

... basically its like having a private bank account that does not include eligibility criteria and a monthly fee....

The "What type of customer can we help?" section on their internet home page seems to indicate that they are looking for high net worth customers (assets > £300k). Do they really not question the opening of a personal bank account with them without having such assets or a substantial income?

jinkster

Not at all - I certainly do not have that amount of money. Give them a call - my salary is approx 50k/yr and due to recent house purchase my savings are only a few thousand!

http://www.handelsbanken.co.uk/shb/inet/icentrb.nsf/vlookuppics/1_news_gf_2010_safest_banks/$file/gf_worlds50safestbanks2010.pdf - Try this link if your sceptical about how safe they are.

I was chatting to them about there very poor ISA interest rate and basically they said - we are not desperate for any funds, that is why it is low. I do remember Icesave offering a very good interest rate just before they went under.

Anyone got accounts with them and can speak from an inside view?