Best Bank Account article discussion

Pompey_girl

Just a bit of info for Halifax Current Account holders. We changed to Halifax a few years ago when they offered 4% interest on the current account. I recently noticed the new High Interest Account advertised in my branch and asked what interest I was getting on my account. They told me it was a measly 2% ,they had never advised me the rate had gone down! I asked to transfer to the High Interest Account which they have now done, only took a signature and a couple of minutes.
They are relying on the apathy of current account holders, so get out there and ask for your interest! Just keep an eye that you don't go over £2500 in credit as you only get a tiny rate on anything over that!

regularsaver1

Pompey Girl - every branch has leaflets with rates in, the rates are on the internet and they are provided in bank statements

There were white leaflets withg changes to accounts, rates and overdrafts in bank statements (I got one myself)

Up to account holder to check this, and yes you can redesignate it yourself, but not everyone wants this account, and in some cases can not pay in £1000 a month

stickman

I have new bank a/c basic type, no o/d /chequebook facilities which suits me fine, however my debit cardfrom them is Visa Electron which basically is limited in its uses as not all retail/petrol/hotels outlets accept them. My bank advises to open current a/c but I dont think I will get one as I am on a DMP and surely the bank will find this if I apply for a current a/c. Are there any banks that will give you a normal debit card as per the one you get with a current a/c or one that is more accepted than Electron as its embarrassing at times finding out that when you go to pay the shop doesnt take electron and that you have to look/ask all the time before you go shopping, petrol etc etc any advice greatly appreciated.
Thanks Moneysavers.

regularsaver1

I know the Halifax Easycash (basic account ) has Visa Electron, but at one time there was no symbol at all. Quite a lot of retailers take electron now. Don't be embarresed

To get a current account you have to pass the credit score

But some banks seem to offer visa debit cards or maestro on their basic accounts

iain1775

I earn over £15k therefore according to Martins post the Halifax account should be best for me - however as this is my main account and as soon as my money goes in it pretty much goes staight back out again there is never £2.5k in there to take full advantage of the 6.2% interest, therefore would the Abbey account, paying 6.3% on first £1k be better??
In a typical month there will be over £1k in the account for less than 10 days, I will also typically go overdrawn for a couple of days a month.
Just to complicate things I am already a halifax c.a customer so have recently switched to the high interest account- will i still get the £100 bonus?- should I look at closing account and going to the Abbey?
My partner earns similar money and outgoings are simila - would we benifit from opening a joint account, paying twice as much in but also effectively withdrawing twice as much also?

Martin - Help!!!

Moonbeam

iain1775 wrote: »

I earn over £15k therefore according to Martins post the Halifax account should be best for me - however as this is my main account and as soon as my money goes in it pretty much goes staight back out again there is never £2.5k in there to take full advantage of the 6.2% interest, therefore would the Abbey account, paying 6.3% on first £1k be better??
In a typical month there will be over £1k in the account for less than 10 days, I will also typically go overdrawn for a couple of days a month.
Just to complicate things I am already a halifax c.a customer so have recently switched to the high interest account- will i still get the £100 bonus?- should I look at closing account and going to the Abbey?
My partner earns similar money and outgoings are simila - would we benifit from opening a joint account, paying twice as much in but also effectively withdrawing twice as much also?

Martin - Help!!!

As interest is calculated daily on HBOS account don't see the point in switching for 0.1% extra, but you could do if you wanted to - As an existing customer you don't qualify for the £100 switching anyway - and you won't have used their switching service to re designate your account.

If your partner banks elsewhere they could switch - therefore earning the extra £100.

regularsaver1

The £100 ends tomorrow though

Rave_Knave

I thought about transferring from A & L to Halifax after hearing Martin on the radio this afternoon. My reason, I currently get whopped by A & L for charges ranging from £25 - £34 and as life is tough at the mo. it's killing me. Then I looked at the Halifax charges table and they range from £28 - £39 . So my advice is be very careful and don't fall for the hundred quid although it would be very nice.

I also noticed that they charge £5 to provide a copy of a paid cheque or an extra statement. Does it really take less effort to do this than it does to send out an automated Failed Direct Debit letter every time. I don't think so. We've been had.

CopperPlate_2

Not if they were the last bank on earth would I go to Halifax. Might as well keep it in a biscuit tin.

BrandNewDay

Halifax (Bank of Scotland) sorta tricked me out of the 6% interest today when switched. She told me that I had to open as a basic account and then could change to something else when the switching was all sorted out... and now I realize that I won't be a "new" customer! Grrrrr.:(

I'll still get the £100, though.