Ethical Banking

BreamoreBoy

CLAPTON wrote: »

I'ld rather be with an 'unethical' bank that doesn't care about it's customers

Santander???

brizzledfw

Hi

Have been with Co-op and then smile, it's Internet branch since 1994 for it's current account and with them as a mortgage customer since 2006. They have been fantastic and the Internet advice as well as the telephone service is fantastic.

Oh and I have a mortgage product ( agreed not a current account but while we're on the subject o best buys ;-)) which is .99% above BOE BR with no application fee as I was a customer so I would say they reward loyalty.

Best of luck anyway JJ

Brizzle

downshifter

Ecology Building Society?

I have a savings account with them but no idea how it compares etc - don't think they do current accounts, they work much more like an old-style building society before they all became banks. I don't have much there so just leave it to its own devices.

Depends what you need from a bank I suppose, I wish we didn't have to use them at all - some people manage without.

callum9999

jojoach wrote: »

My main concern was with large bonuses being paid to the people who, mainly, have been large contributors to the economic problems we are facing. I dont want my money funding such practices. I will look into the accounts suggested, thanks.

That isn't exactly "ethical banking" then is it. Ethical banking is about not lending to dictators, the weapons trade etc. - nothing to do with bankers pay.

The only banks that will give their CEO's low pay are the very small banks - probably banks virtually no-one on here has ever heard of. (Not that I remotely understand the logic behind such a move. Big companies pay their bosses big sums of money - always have, always will).

notafan

Ethics aside for a minute -I thought about moving my bank account to coop before - but then i got a smile credit card with them first.

Its like using on-line banking from the stone age, it looks like a toddler designed the sight.

I wish they'd invest in the actual look, features and ease of use side of the sight instead of doing stupid polls like 'would you ban heavy petting in public'. Its long overdue a major overhaul.


Besides especially with RBS and LLoyds i suppose its in everyones interest for them to do well in the long run.

Rafter

Clapton,

Have to disagree with you on this one - unusually!

Sure, you can pick examples of poor accounts at almost any institution, but the fact is that any organisation paying best buy savings rates while offering best buy loans for any period would be bust.

Unless all consumers switch their provider regularly, inertia will always mean that bonus' will come off and loyal customers will end up subsidising the rate tarts.

In the long term, as long as it is being run effectively, a Building Society or Mutual will offer better rates and better value because it doesn't have to reward shareholders by paying dividends.

R.

CLAPTON

Rafter wrote: »

Clapton,

Have to disagree with you on this one - unusually!

Sure, you can pick examples of poor accounts at almost any institution, but the fact is that any organisation paying best buy savings rates while offering best buy loans for any period would be bust.

Unless all consumers switch their provider regularly, inertia will always mean that bonus' will come off and loyal customers will end up subsidising the rate tarts.

In the long term, as long as it is being run effectively, a Building Society or Mutual will offer better rates and better value because it doesn't have to reward shareholders by paying dividends.

R.

an oxymoron really as
the evidence is that mutual societies aren't run effectively
and on the whole don't innovate

anyway do your own research and actually look at the co-op saving rates and form you own view

mr_fishbulb

jojoach wrote: »

My main concern was with large bonuses being paid to the people who, mainly, have been large contributors to the economic problems we are facing. I dont want my money funding such practices. I will look into the accounts suggested, thanks.

Your money wasn't funding it in the first place.

Credit crunch was caused by securitisation of risky (toxic) debt, bundled up with some good debt in order to give it a false sense of security.

Public sector cuts and tax rises were caused by people & government spending more than they had.

Changing which bank your salary gets paid into every month wouldn't have made any difference.