Lloyds, Natwest or Nationwide?

Estj87

For the past 6 years I have had a Halifax Easycash account.

Since March, I have had a Lloyds TSB Silver account (finally, a real bank account!), so I closed my Halifax accounts.

It struck me I'm putting all my eggs in one basket, so I have also opened a Natwest Select account and Nationwide Flexaccount as backups in case Lloyds mess me around.

My question is... And I know this is subjective... Is Lloyds the best of the three to pay in my salary and use daily?

I'm not sure I like Natwest online banking already!

Thanks.

MoneySaverLog

In terms of interest paid on your current account so long as you hold a balance in your current account then yes Lloyds TSB would be the better bank of the three.

Estj87

Thanks. I'll keep the other two 'ticking over' with small change just in case. Thanks.

iluvsaving

You get a 4.25% ISA if you use Nationwide and you would also get a Select Credit Card where purchases abroad are commission free!

nyc_451

Estj87 wrote: »

It struck me I'm putting all my eggs in one basket, so I have also opened a Natwest Select account and Nationwide Flexaccount as backups in case Lloyds mess me around.

What do you mean by messing around?

MoneySaverLog

It's always wise to have accounts in more than one bank, though I've started to streamline mine.

It's possible, though unlikely, that a bank might freeze your account. If you have a back up account you have something to go to at least if that were ever to happen. Having the account in a bank unassociated with the main bank here is key though, just in case they decide to freeze them all.

Also you could loose your debit card, and then you're without funds unless you have a back up account with money in, or an available overdraft for such an emergency.

nyc_451

Wow... I admit I don't know enough about banks, all I've heard is that funds up to 85'000 are insured, so I thought 'oh what can happen to me, poor immigrant'...
What can be the reasons for freezing the account?
I've been with Lloyds for over a year now and almost all of my money is with them, wouldn't even think I couldn't access my money one day...

dzug1

iluvsaving wrote: »

You get a 4.25% ISA if you use Nationwide and you would also get a Select Credit Card where purchases abroad are commission free!

Remember there's a minimum monthly funding requirement to get those benefits

dzug1

blue_mango wrote: »

What can be the reasons for freezing the account?

Unusual spending activity usually. When they suspect fraud.

Rupert_Bear

Estj87 wrote: »

For the past 6 years I have had a Halifax Easycash account.

Since March, I have had a Lloyds TSB Silver account (finally, a real bank account!), so I closed my Halifax accounts.

It struck me I'm putting all my eggs in one basket, so I have also opened a Natwest Select account and Nationwide Flexaccount as backups in case Lloyds mess me around.

My question is... And I know this is subjective... Is Lloyds the best of the three to pay in my salary and use daily?

I'm not sure I like Natwest online banking already!

Thanks.

If anyone messes around it is normally the customer. I have been with Lloyds since 1984 and provided you do not play silly b...ers with them they will look after you. Make sure you have money in your account in time to take any regular payments and stick to their terms and conditions.

Estj87

By messing around I mean moving their customer services to Egypt (as Vodafone have) etc.

I'm very, very careful with my money now. I keep my accounts always on credit and would never risk anything. I learnt that the hard way!

I've decided to use my Lloyds account on a day to say basis (salary, debit ard, direct debits etc) and keep the Natwest account for paying bonus payments into monthly and the odd cheque etc, as Natwest is closer to where I work.

I prefer Lloyds online banking and love 'save the change'

Nationwide... No idea what I'll do!