How to choose a bank?

Bob_Do3

I want to open a New Savings Account.

I was wondering what the most important factors to consider are?

Any help would be great, I am a complete novice!

Thanks, B

atush

Maybe a Q for the banking thread?

I choose one that gives me the rates and acess tomy money I require. Then you have to consider ease of use (ie local, internet, telephone, post).

Loughton_Monkey

http://www.moneysavingexpert.com/banking/

Bob_Do3

Thanks a lot guys

How important is security ? Especially with the rise of internet banking ?

Sceptic001

Bob_Do3 wrote: »

Thanks a lot guys

How important is security ? Especially with the rise of internet banking ?

In the unlikely event that you suffer fraud on your savings account the bank is obliged to reimburse you unless it can prove that you have been negligent in some way (eg. by disclosing your log-in details to a third party).

Bob_Do3

How important are branches these days?

Isn't all banking done online?

Thanks,

B

Yorkie1

I often go into my bank, to pay in cheques or to sort out things which otherwise I'd have to try to resolve with their overseas call centre...

Reaper

You have to decide what is the most important for you. For example if customer service was vital to you then you would go for First Direct and avoid Santandar.

If money matters most then the Haliax give you £5 in any months you pay in at least £1000. Other banks give you a cash incentive for joining.

If you are likely to dip into overdraft some accounts penalise you heavily.

Maybe you want one with a branch nearby.

Start by reading the site Best Bank Acounts article and decide what is important to you.