Halifax won't let me open a savings account without seeing an advisor?

mbailey

opinions4u wrote: »

It's more than possible that there is no form. Until the Banking Adviser has logged on, asked some questions and typed in the answers.

You are correct, they don't have forms these days. It is all done typing directly onto the computer by the advisor.

What I don't get is some accounts can be opened online, some on the telephone, but others ONLY in the branch.

GeorgeHowell

How can it possibly be FSA mandated that customers have to see an advisor before opening an account when with most banks (if not Halifax) you can do this online without seeing anyone at all ?

It's surely B/S and savours of being all part of the relentless effort to get people in and then try to convince them to buy products that are more risky and more complex than is good for them.

There are other banks -- I suggest closing the account and taking the money to one of them.

HoneyAndLemon

You can apply for pretty much any account online/by phone/in branch. If you apply online/by phone depending on if they can electronically verify you or not, you may need to go into a branch to get your ID verified by someone.

If you go into a branch to apply for anything, it must be done by a Banking Advisor. The cashiers do not open any accounts. They also do not have application forms to give to customers.They serve customers in the queue, and deal with general querys at the help & advice desk.

Banking advisors key everything onto the system while you are in the appointment. They will try to cross sell you stuff. Halifax is a business. They need to make money. You can say no.

We are still in the tax year end month. Most branches will be booked up with all the ISA's etc. Saturdays tend to be booked weeks in advance as they are most popular. Most are only open until 12, meaning about 3-4 appointments per Banking Advisor, so again not much space for walk ins.

I dont understand why you would think there would be someone free immediately when you walk in off the street. It's one of the busiest time of the year for branches. Of course it would make too much sense to call beforehand.

And yes it is all due to regulations that cashiers do not open accounts, and only advisors do. Financial advisors give advice on investments etc, Mortgage advisor obviously deals with mortgages, Banking advisors deal with Savings, Loans, Bank accounts, Credit cards etc. Cashiers do the counter. Simple.

People moan about the banks mis-selling stuff, and yet when procedures are then set in place for ALL information to be laid out in front of the customer before they go ahead, people complain again. Cashiers would simply not have time to go through all the information customers are required to know these days.

Macca83_2

There are other banks who would be more than happy to take your money. But you'll still find yourself sitting in front of a banking advisor regardless of where you end up.

opinions4u

GeorgeHowell wrote: »

How can it possibly be FSA mandated that customers have to see an advisor before opening an account when with most banks (if not Halifax) you can do this online without seeing anyone at all ?

The moment a branch allows a customer through the door the FSA will consider the branch to have a duty of care to the customer. If the customer fills in the wrong form and ends up with the wrong product the finger of blame will be clearly pointed.

Where a customer is opening an account online no such duty of care exists. Although the various words, phrases and warnings on the product pages of a bank's web site are usually all thought through to ensure the customer has the necessary information to hand.

It's surely B/S and savours of being all part of the relentless effort to get people in and then try to convince them to buy products that are more risky and more complex than is good for them.

You see the posts on here from people who want to withdraw from their term deposit but have, after the event, discovered a no withdrawals clause. You read the confusion people have around their ISA. You regularly get the question "what should I do with £50k for 3 months?" which really isn't rocket science but people struggle with it.

You may be smart enough to make your own choices. I think I am. But we will be treated the same as other customers who know a little bit less.

Like it or not the FSA has put the onus of protecting the interests of these people on to bank staff if the customer walks in to a branch or rings a call centre. Like it or not financial institutions have to come up with processes that meet these obligations. Invariably this means anybody selling an account, even if it's to order, has to follow that process.

Some institutions may take their regulatory obligations more seriously than others.

There are other banks -- I suggest closing the account and taking the money to one of them.

It is an option.

But if they don't act the same way it may be worth pondering how seriously that competitor takes regulatory requirements.

ses6jwg

Very few large banks will allow you to open an account at the counter any longer.

There are a few reasons:

1) Increased regulation
2) Less opportunity to cross sell other products
3) Creates queues which results in service complaints

atush

opinions4u wrote: »

It's more than possible that there is no form. Until the Banking Adviser has logged on, asked some questions and typed in the answers.

that may well, be. but I have opened a number of children's accts in branch with different banks and there was ALWAYS a form to fill out. always

atush

mbailey wrote: »

You are correct, they don't have forms these days. It is all done typing directly onto the computer by the advisor.

What I don't get is some accounts can be opened online, some on the telephone, but others ONLY in the branch.

Opened one last year. They had forms, or the computer with the advisor. Was the Same form, and was told I could fill out the printed one and bring ointo branch to save the advisor time. What they do os print the form after for your signature.

Macca83_2

There are no forms.

A year ago Halifax was on an entirely different system. So what you think you may know about opening a children's account a year ago is irrelevant.

How about you go in tomorrow kick up a fuss and demand that your account is opened there and then without seeing a banking advisor. Then next year when you find out the interest rate is 0.1% or you can't withdraw your child's savings. You can come back in here and start a thread about how Halifax misled you into losing out on your child's savings

just an idea...

ses6jwg

p.s. nobody would care if you took your business elsewhere

childrens savings accounts are practically worthless to the bank and they only offer them as a certain percentage of people will do life insurance off the back of them, or the children might open their first bank account there