Thinking of changing banks - thoughts on the best?

Hoogie

Hi All,

So I am currently thinking of changing banks as I am currently with Santander and a few things have started to annoy me about them.

My main gripes is that their telephone service is terrible as I find I am always re-directed severaltimes before getting to the right department and often on hold.

Secondly I have also found their process for opening savings accounts etc isn't as straighforward as it could be, for example they always seem to confirm name/address details with credit agencies despite the fact I already ahve several accounts with them... With Barclays they just open new accounts if you're an existing customer and there is no faffing around.

So my question is what are generally considered to be the best banks? I was under the impression that Barclays and HSBC are well regarded, is this correct?

I am also considering FirstDirect, although I am a bit unsure about the idea of banking with no branches, although to be honest I rarely find myself going into branch.

Basically I am looking for a reliable bank with good customer service and a good range of accounts...

izools

Barclays telephone service is by FAR the WORST I have ever experienced.

Think of Santander customer service, but in place of an ignorant Brit, you get through to someone equally ignorant and incompetent who can't understand the language.

HSBC are pretty good, but if it's customer service you're after First Direct wins the vote without a second thought.

First Direct accounts can be serviced at HSBC Branches. The only thing you can do at HSBC Braches with a HSBC account, which you can't with a FD account, is apply for loans / credit cards / etc. But if you're anything like me, you exclusively do this over the phone or online anyway so it's a moot point.

First Direct won't dissapoint you. And if they do dissapoint you, they'll give you ANOTHER £100 on top of the initial £100 they give you for switching. Can't say fairer than that, can you?

Cmdr_Bond

A lot of people will recommend First Direct from HSBC or Co-op/Brittania (provided by Co-op) for their customer service.

I, myself, am in the process of moving from Santander to Lloyds. I factored in a lot of decisions before making that choice, and it may not be the most suitable for you.

Pari5ian

Can I please ask, with First Direct what happens if you can't deposit £1500 a month?

Thank You

izools

If you can't deposit £1,500 a month the account will still remain open and the bank will happily have you as a customer, they don't frown upon customers who don't earn a lot.

They do however charge £10 for the account in the event that:

You deposit under £1,500 a month AND
Don't have a balance in a savings account with them AND
Don't have a credit card with them.

You can avoid the charge, if you earn under £1,500 a month, by holding a small balance in one of their savings accounts and / or having a credit card with them.

Cheesedoodles

Pari5ian wrote: »

Can I please ask, with First Direct what happens if you can't deposit £1500 a month?

Thank You

You get charged £10 per month you do not deposit £1500 or have an average balance of £1500 or more.

You can avoid this fee by having an additional applicable product like for instance their credit card.

Pari5ian

izools wrote: »

If you can't deposit £1,500 a month the account will still remain open and the bank will happily have you as a customer, they don't frown upon customers who don't earn a lot.

They do however charge £10 for the account in the event that:

You deposit under £1,500 a month AND
Don't have a balance in a savings account with them AND
Don't have a credit card with them.

You can avoid the charge, if you earn under £1,500 a month, by holding a small balance in one of their savings accounts and / or having a credit card with them.

Cheesedoodles wrote: »

You get charged £10 per month you do not deposit £1500 or have an average balance of £1500 or more.

You can avoid this fee by having an additional applicable product like for instance their credit card.

Thank you both, and I hope your replies help the OP whose thread I appear to have hijacked

Stalkdog

Leaving Santander was the best thing I ever did!

Now been with the Halifax for about 5 months. Opened the account to get the £5 reward a month, but have been really impressed so far, so despite originally planning to join First Direct, I think I'm going to stay with them. Things that I really like:

- Call center is UK based and generally quick and really helpful the couple of times I've had to use it.

- Internet Banking is well laid out and easy to use (it's similar to Lloyds TSB, without the service interruptions - so far)

- Overdraft facility is pretty terrible if you have to use it regularly. But if you don't, then having an unpaid item will only cost £5/day rather than a £35 fee plus interest. They also send you a text, so you can fix it straight away.

- The saving products/credit cards/mortgages etc are not necessarily rate topping, but across the board they are really competitive, allowing you to keep most of the services with the same bank, if you want to

- Seems so far they are keen to reward existing companies as much as attract new ones... so you get little rewards like the £5/month, 0.2%AER extra on savings accounts etc.

Anyhow, I'm not trying to sell the Halifax (I can't stand their TV adverts!), but like I said, I've been genuinely surprised at how good they've been so far, so have delayed my move to FD for the time being. At the end of the day, most banks will c@ck up and let you down at some point!

CH27

First Direct are excellent.

tellmeitsfriday

And the 8% (gross aer) regular saver is a nice decision swayer if you need anymore help

cbassno3

I would personally recommend Lloyds Tsb. I switched to them in October from Barclays and they have been first class. In my OP It has everthing that I look for in a bank. Uk call centres, Decent rates ie savings and current account rates, Great internet banking, and very efficent. Not everyone wants the same from there bank it's a question of what you would like and expect.