Halifax Problems. advice needed.

Naf

rb10 wrote: »

They most certainly do!

At Santander you don't even get a debit card on the basic account.

No debit card, no counter access and I don't even think withdrawals can be made through the Post Office anymore. I think the account balance limits are substantially lower, too.

Also, unless things have changed the account doesn't even count as a current account on their system: doesn't improve your credit rating or standing, and can't be upgraded - a whole new application is needed, which means you have to move all your own wages, benefits, DDs & SOs...

Savvy_Money

Yes thanks for pointing out the obvious BASFORLAD. I'm quite capable of understanding that if you don't like the terms you don't have to take the product but I am entitled to suggest it's not fair to those customers who have to have a basic account!

opinions4u

Savvy_Money wrote: »

I am entitled to suggest it's not fair to those customers who have to have a basic account!

Not fair?

Halifax has a massive share of the basic account market. Well in excess of 50%. Most of these are customers who will never save. Cannot borrow. Don't buy insurance and rarely keep a balance in their accounts beyond the day of a wage / benefit credit.

They are of no economic value to the bank at all.

So a few restrictions on what facilities are available on the account doesn't seem unreasonable to me. If they didn't take action to contain the costs sooner or later there would be a backlash from other customers who have to queue for longer and an inevitable outcome would be a decision to make it harder to get a basic account or to exit the market altogether.

With a debit card that can be used in all ATMs, IDM machines in most branches and online banking it's not said Halifax make life excessively difficult or these customers.

Savvy_Money

Well I'm glad that opinions4u perceives it as perfectly acceptable that people who are already vulnerable can have a restrictive service. I'd rather keep a social conscious and suggest the Halifax could afford counter service if needs be as I'm sure that they make enough profit (from all it's other customers) for what will be a very small element to their market.

I'm objecting to the principle that people are treated as 3rd class. That does not suggest in anyway that the Halifax is going to change its policy (it's not) but I can and will object to the principle

opinions4u

Savvy_Money wrote: »

I ... suggest the Halifax could afford counter service if needs be as I'm sure that they make enough profit (from all it's other customers) for what will be a very small element to their market.

HBOS losses between 2008 and 2012 add up to more than the total profits ever made in the history of HBOS, Halifax and Bank of Scotland.

Well I'm glad that opinions4u perceives it as perfectly acceptable that people who are already vulnerable can have a restrictive service

I take the view that a business can choose who it does business with and on what terms. Equally, a customer can choose to do business elsewhere.

I can and will object to the principle

Object away. It's not an unreasonable stance. I just don't agree with it.

Naf

opinions4u wrote: »

I take the view that a business can choose who it does business with and on what terms. Equally, a customer can choose to do business elsewhere.

Yes, they usually can.

What Savvy seems to be missing is my point above; that if it were solely up to the banks they wouldn't do business with these people at all. People that 'require' these accounts should realise the fact that they are lucky to be able to get them in the first place, not complain about the facilities or lack thereof.

EDIT: I realise that sounds a bit harsh, and its not intended to be. What I mean is that not so very long ago, people in the same situation would have had little choice but to take a savings account with access only at the counter - no ATM or debit card. And the terms on most (possibly all) of those accounts prohibit them being used for wages. No DDs or SOs either.

Savvy_Money

opinions4u wrote: »

HBOS losses between 2008 and 2012 add up to more than the total profits ever made in the history of HBOS, Halifax and Bank of Scotland.

I take the view that a business can choose who it does business with and on what terms. Equally, a customer can choose to do business elsewhere.

Object away. It's not an unreasonable stance. I just don't agree with it.

I don't think the losses were caused by basic bank accounts. I accept your view but likewise I don't agree with it. As I said in a previous post it's academic anyway as I preferred the machine to the counter staff!

System

I don't particularly agree with the restriction but it is what it is.

You could open up a savings account or a Bank of Scotland basic account (Cash Account) as either would give you Halifax counter access.

anti_bad_credit_lass96 wrote: »

ok. well thank you all very much for your replies.

pvt

Savvy_Money wrote: »

I understand that basic accounts often operate this way but I don't like the way banks treat basic bank account holders - they're sort of saying yes you can have an account with us but don't expect to treated as a proper customer - very third class.

Hear hear!!

I recently bought an economy class ticket for a BA flight, and was similarly annoyed to find I wasn't entitled to the lounge access, size of seat, level of pampering, choice of movies, lobster thermidor, and vintage champagne, which all the passengers in First class received.

I too felt very third class. Quite literally in fact.

Mrs_Ryan

I have an EasyCash account and funnily enough they fell over themselves to allow me to pay in at the counter when I showed up with a compo cheque of 2.5k the last couple of HMRC cheques I've had they've let me pay in over the counter as well.
I know Santander used to have guidelines that said 'to advise anyone with a balance over 1k the basic account wasnt suitable for them' When I worked for them I got a bonus payment which meant 1 month I got a salary credit of 1100 instead of my usual £750 and I had to check it was ok to receive it but as I was a staff member they werent bothered at all.