2nd Current Account Advice

pwuk

Hello,

I have an account with Lloyds TSB and am very satisfied with their Customer Service and the way they look after my accounts.

I did have dormant current accounts with Barclays and Abbey but have just closed these based on their poor Customer Service. I had considered Natwest as an option but their Customer Service also seems to lack....

In my view it would be useful to have a secondary current account but would welcome advice on which bank to opt for? I will not be using the account as my main account and it will always have an in-credit balance.

I recognise that views will vary but would like to hear your from you.

opinions4u

If service matters most, First Direct. Useful for their 8% regular saver. Open an additional savings account too in order to avoid the monthly fee.

If you can fund with £1,000 a month, go for Halifax or Bank of scotland Reward account and claw in the fiver each month.

jen245

I second the Halifax option, and have a Reward account as my 2nd account, the free fivers are a nice bonus

Lith

opinions4u wrote: »

If service matters most, First Direct. Useful for their 8% regular saver. Open an additional savings account too in order to avoid the monthly fee.

If you can fund with £1,000 a month, go for Halifax or Bank of scotland Reward account and claw in the fiver each month.

Realy? i wasn't aware of that, i thought they charge for the account and thats it? but open a saving account!!!! no charge?


Thank's

pwuk

Any comments on Smile or Co-op?

samwsmith1

I would highly recommend First Direct for the service that they offer - it's nice when you ring up to be straight through to someone in the UK in a couple of rings.

Lith wrote: »

Realy? i wasn't aware of that, i thought they charge for the account and thats it? but open a saving account!!!! no charge?


Thank's

Correct, see here:

First_Direct wrote:

Banking Fee Waivers

You will not have to pay the Banking Fee:

• for the first six months following account opening
• for any month in which you:
  • pay into your account* (other than by internal transfer from another first direct account) a minimum of £1,500 or you maintain an average monthly balance on your account* in excess of £1,500 (month means calendar month and we will work out the average monthly balance by adding together the end of day balances for each day during the month and dividing the sum by the number of days in the month) or
  • hold a first direct mortgage, credit card, personal loan, savings account (*excludes Regular Saver Account and Fixed Rate Saver), first directory, or first direct car or home insurance policy; or

http://www2.firstdirect.com/1/2/rates/charges

DrSyn

If customer service is important to you then you might like to know that both "First Direct" & the "Co-op Bank" always get 80% customer satisfaction in every poll. They are both well liked by their customers with good reason. In todays climent thats not easy!

You might like to watch BBC 1, 13/06/11 Panorama "Can you trust your bank?"

gdecruz

If you are happy with who you are banking with open a second current account with them. I have two with one bank both First Direct and have the standard overdraft xlause on the main one and a straight corward current account that I transfer x amount into each month and use for day to day activity - works fine

DannyboyMidlands

If you're happy with Lloyds then I'd open the 2nd account with them. That's what I've done and its easy to manage them both from the same online login. They pay about 3% (used to be 4%) on your balance too. Which is nice.

Having said that, I also have a Halifax Reward current account that I wash a grand through each month in order to receive the free fiver and a First Direct current account in order to access the 8% regular saver.

Basically the same grand does the rounds of all the accounts in order to satisfy their T&C's.

pwuk

Whilst I am satisfied with Lloyds, as a precaution I would like an alternative. First Direct and Co-Op suggestions seem good.

Thanks for your recommendations.