Best b/s or bank for current account pensioners

morgan

Hi Folks..

I am looking for the best Building Society or bank for current account pensioners.
My mortgage is finished and have 4 small pensions going into my bank each month which is NEVER overdrawn and a seperate account holding a modest sum earning zilch so I need a decent establishment to move from Natwest whom I have totally lost faith in

Many thank's

grumbler

I think you have to give your definition of the 'best' and 'decent' and to explain the reasons of losing faith in Natwest in the first place.

Otherwise, just read the MSE article: Best Bank Accounts

itsanne

Why for pensioners? If your pensions total more than £500 a month and you have 2 direct debits, Santander 123 will give up to 3% interest on your savings and cashback on some direct debits. If your pensions total more than £1000, Nationwide gives 5% interest on savings up to £2500, but only for the first year so you'd probably want to change again after that.

I'd suggest reading the best bank accounts article:

http://www.moneysavingexpert.com/banking/compare-best-bank-accounts

You can also get cashback when opening a new account.

Good luck

morgan

grumbler wrote: »

I think you have to give your definition of the 'best' and 'decent' and to explain the reasons of losing faith in Natwest in the first place.

Otherwise, just read the MSE article: Best Bank Accounts

Why do you want to know my reasons? They are personal reasons
Simple question really...NO Mortgage account..Need a current account from somewhere other than Natwest..

As stated in previous opening post

itsanne

grumbler wrote: »

I think you have to give your definition of the 'best' and 'decent' and to explain the reasons of losing faith in Natwest in the first place.

Otherwise, just read the MSE article: Best Bank Accounts

I imagine grumbler was suggesting that more specific advice could be given if you explained yourself more - on the basis of things you had already said.

You've been rather touchy with someone who was trying to help!

grumbler

morgan wrote: »

Why do you want to know my reasons?

I think it is obvious. What's the point in changing banks if you might find exactly the same problems that you don't like at Natwest.?

They are personal reasons

Well, at least this explains something.

Simple question really...NO Mortgage account..

Not simple to me. I have no idea what a Mortgage Current Account is.

Need a current account from somewhere other than Natwest..

MSE arthicle has to be sufficient then.

dr_adidas01

morgan wrote: »

Hi Folks..

I am looking for the best Building Society or bank for current account pensioners.
My mortgage is finished and have 4 small pensions going into my bank each month which is NEVER overdrawn and a seperate account holding a modest sum earning zilch so I need a decent establishment to move from Natwest whom I have totally lost faith in

Many thank's

It depends on how much you have going into your accounts.

Lloyds do a classic vantage account that gives you up to tiered interest of up to 3% depending on how much you have in your account.

http://www.lloydstsb.com/current_accounts/vantage.asp

Santander do the 123 account again with variable interest rates depending on how much you have in the account but does have a monthly fee of £2. You could also get cashback on this account with your direct debits if this is something your interested in.

http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&c=Page&canal=CABBEYCOM&cid=1237892266671&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_ViewSelector

innovate

itsanne wrote: »

If your pensions total more than £500 a month and you have 2 direct debits.....

There is no requirement for pensions (or salary) - - - the entire requirement for the monthly deposit is as follows:

You must pay at least £500 into your account every month. This is not a calendar month, it is the month from the date you opened your account. For example, if you opened your 1 23 Current Account on the 7th of the month, you must pay £500 between the 7th and 6th of the following month, every month to qualify. Please ask a member of staff to find out which date your account was opened.

This £500 minimum monthly payment does not include refunded amounts from your Visa debit card. Interest and transfers into the account from another Santander account in your name (whether in your name or in joint names with another account holder) do not count towards your monthly amount.

Source: http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223430984175&cachecontrol=immediate&ssbinary=true&maxage=3600

Your £500 can come from any legal source that you see fit to use.

pqrdef

It also depends on how you like to do your banking.

If you like phone banking, First Direct is pretty good, Santander is a non-starter.

If you like going into branches, pick a pleasant and convenient and efficient branch. If you don't, avoid the sort of bank that thinks popping into a branch is the answer to everything. It's a bad sign if you have to go to a branch to open the account.

Online banking, not a lot to choose. With Santander you need a charged-up mobile to set up a new payee. Also, their website confuses me into making payments out of the wrong account.

If you like monthly paper statements, not all banks do that. Nationwide do with the FlexAccount, not FlexDirect, but their statements aren't hugely informative. Banks are strangely variable in what they tell you about where the money came from and went to.

morgan

itsanne wrote: »

I imagine grumbler was suggesting that more specific advice could be given if you explained yourself more - on the basis of things you had already said.

You've been rather touchy with someone who was trying to help!

Not touchy...Just private ..

morgan

grumbler wrote: »

I think it is obvious. What's the point in changing banks if you might find exactly the same problems that you don't like at Natwest.?
Well, at least this explains something.
Not simple to me. I have no idea what a Mortgage Current Account is.
MSE arthicle has to be sufficient then.

Never mentioned a Mortgage Current Account
No Mortgage Just a current account needed
Thank's anyway