Ethical banking?

TwinLizzy

What banks etc would be described as 'ethical'? I know about the Cop-op bank, but there must be others?

Are there any articles on this site about ethical banking/saving? I tried a search, but didn't come up with anything much.

Thanks!

Savvy_Sue

the only other ethical bank I know of is Triodos, and not sure if they do individual accounts - oh yes, looks like they do.

Smile is part of the Coop, of course, and I use them and get on well with them. Green, in that they don't send paper statements!

Boudica

I changed to co-op in February this year. I had reclaimed my bank charges from my previous bank and thought that it would be a fresh financial start for me.

It's the worst thing I could have done. The Co_op have been useless and I wouldn't recommend them at all. They didn't change over my payments as promised, I ended up doing it myself, they allowed money to be taken from my account without authorisation, they have messed up direct debit payments. They are atrocious.

I'm looking to move bank again cos i'm not putting up with their incompetent attitude.

Don't want to put you off, just thought i'd let you know of my situation before you make your decision. I'd like to find an ethical bank too although I don't think the words "ethical" and "bank" quite go together

more_money_for_me

Could look at Ecology building society, depending on what you are looking for.

Maddie

I bank with smile and have had no problems. To respond to the post regarding bad service above, there is a chance this could be a one off. I have had bad service from many banks over the years (abbey, lloyds, hsbc, halifax all spring to mind). I joined when they had a free wine offer so it was doubly good!!

TwinLizzy

Thanks folks. We're currently with Co-op, and have had no problems at all with them. Just wondering where else I can look for savings accounts to be ethically consistent.

What do people think about Egg? http://new.egg.com/visitor/0,,3_75122--View_995,00.html

hardpressed

Has anybody an experience of Reliance Bank run by the Salvation Army? Their web site says that 75% of their profits go to help fund their work. I'm tempted to give them a try.

moonrakerz

Ethical banking ? an oxymoron if ever I saw one !

rag_doll

I've been with Smile for 4 yrs, only 1 hitch with Direct Debits, sorted it out quickly & they compensated me £10!
Have savings account with Triodos, have found them to be excellent, a refreshing change to phone them up on a local rate number, get answered straight away, by someone in this country, who is friendly, knowledgeable & professional, but doesn't speak as if a robot!

rosh12

If you search on Google for ethical banking there area a few articles on the Guardian website and Observer etc on different optoins.

Also https://www.ethiscore.org has some limited free info on banks and their ethics, although you have to pay for full reports, it's a good place to find out which banks are most ethical- you can then look at the banks' own ethical policies on their websites to see if it ticks your boxes (i.e is it environmental concerns, human rights, international stuff, where your money is invested, or general corporate social responsibility here in the UK that you are most concerned about?). The only prob is, any bank will have an ethical policy so it's hard to sort out the wheat from the chaff...

I've been with the Co-Op and Smile for a few years adn never had a problem at all- when setting up accounts, getting things transferred from old accounts, changing name / address etc.

In terms of Egg, they are or were owned by Pru and Citigroup- not sure if they have any particularly ethical credentials, though online is usually seen as greener? I just tried to find out more about who 'owns' them now, but failed

Good luck!

inkie

Can only speak for business side of reliance - never had any problems.