What makes you choose your bank (Please help it's part of a University assignment)

7891368

Hi All

As part of a University project we have to assess an area of business and look into it's markets; I've chosen retail banking.

Aside from rates what made you choose your bank...convenience, service, someone recommended them etc?

OR what would make you switch?

TIA

mum2one

I changed my bank account as I was previously with alliance and leicester and they were brought out by Abbey, (santander as theyre all being named) and as I had previous bad experience with Abbey, i changed to halifax.

the reason was it was established, I had childhood accounts there, good presence on the high street, online banking, and was free banking at the time.

What would make me switch-
If i could get a better interest rate on my overdraft, I'm not brand loyal any more, and if I hadn't got money going in different times of the month, i's switch 2mor, just the hassle.

Good luck with the project x

busiscoming2

Ive been with my bank for donkeys years. My dad banked with them and had no problems so I went with them too that was in 1979 and I still have my sole account with them now.

I have a joint account elsewhere with my DH, this was his account and my name was added when we lived together. Again his parents banked with them.

To change, a bank would have to offer brilliant customer service, no fees and a really good incentive.

whitewing

When I was a child it was because of the moneyboxes you got given, and also that they were in the same bank.

As an adult, it was mainly student discount, then changed at Uni because of the service. Have stuck with the uni bank partly because of internet banking and partly because of a regular standing order coming in from a person who is abroad.

MoneySaverLog

My initial bank was opened for me by my dad when I was born that was a TSB savings account. Since then I've had various accounts with them. I had a speedbank card when I was like starting secondary school or something.

When I was 14 I remember walking into TSB Temple Row and asking for a cheque book, told them I was interested in computers and needed to write some cheques. They said YES, also they took me behind the counter and showed me round their computers and told me how they worked together which for the time I seem to remember were state of the art. They did not have to do that, but they did and I will always remember them for it.

Since then I've moved branches to Lloyds in Solihull as that's where I work and it's more convenient, though I appreciate you can have your branch anywhere you like and use any branch now.

I've had other accounts, but this is my longest running bank and now main account.

skylight

I went with the only bank that accepts bankrupts AND has decent online facilities as they were essential. While the BR is still on my credit file, I am unable to move from them but as I am very happy I am currently not likely to do so when my sentence is up.

elsien

My first current account was with the same bank as my parents.
I moved to my current bank because my last bank seriously p!ssed me off with poor customer service. I don't remember why I chose it, probably convenience as it was before I got into internet banking. I stay with them mainly through inertia, and also the perceived hassle of moving direct debits elsewhere. But it's also because the products I have suit me and are free. (I do not wish to be hassled to buy packaged accounts every time I set foot in the place.) I do however want 2 current accounts with the same bank, and a lot of them that pay more interest or give rewards need a minimum amount paid in a month. Which I wouldn't have for 2 accounts running side by side.
I would move to the Co-op due to its more ethical stance if there were a branch near me, but there isn't. Even with internet and telephone banking, I do like having a local branch to go into when I want/need to.
As far as savings go, I'm a rates tart. That's the main reason for shifting which I do regularly.

Starrystarrynight

I joined the bank that my Dad was with when I first started working at 16.
After that, I got a job with a different bank and, at the time, we were compelled to have a sole current account with them, and I've stayed there ever since.
I think there is very little that would convince me to move banks now. I guess I know all the pitfalls and don't want the hassle.

Yorkie1

My first account aged 17 was because of the freebie (leather filofax!).

My main bank account, which I opened when I became a student, was partly based on convenience to the campus, and also because I liked the colour green (it was Lloyds). Have retained an account with them ever since as they've been OK and their Vantage accounts are fine.

Since then, any other additional (savings) bank accounts have been based on interest rate.

jen245

I have accounts with a few different banks, but use Natwest as my main bank, as I like their online banking, I have a branch close-by, and they have been good to me with regards to credit facilities. They'd have to mess up badly to make me switch, but I've had accounts with them for 5 years with no issues.

piglet39

Good luck with the project:)

I opened my bank account many years ago with Natwest because the branch location was convenient for me although a year or so after opening the branch closed :mad: which was a bit of a pain. I've had no issues customer service wise, had a bit of a sticky patch when they wanted to take away cheque book/overdraft etc and my account was placed with the Account Management dept. The staff in the Account Management team were excellent though and v understanding about the problems I was having at the time and even let me keep the o/d & cheque book facilities (5 years ago) and so I will stay with them out of personal loyalty (although I'm sure they wouldn't miss me one iota if I left:rotfl:)

Piglet