Which UK banks behaved best in the crisis?

Quaffa

Hi. Newbie here...

Let us assume that I want to change my bank, that is to say change the bank with whom I currently hold a current account.

I am presently with Santander, having a product of theirs called 'Bank Account PICR', and I would like something similar elsewhere.

But which bank should I move to?

What I would like to do is move to the bank which behaved the best, (or do I mean the least badly), in the period leading up to the crisis of 2008. (So obviously RBS & HBOS are disqualified.) And Barclays are crooks over the LIBOR rate fixing affair.

So what options am I left with?

grumbler

Barclays were not the only crook and AFAIK, unlike some other banks, they were not bailed out in the crisis.

I prefer using more pragmatic criteria for choosing banks than some 'behaviour' and LIBOR manipulation: interest rates and charges, bonuses and extras, customer services.

dr_adidas01

Quaffa wrote: »

Hi. Newbie here...

Let us assume that I want to change my bank, that is to say change the bank with whom I currently hold a current account.

I am presently with Santander, having a product of theirs called 'Bank Account PICR', and I would like something similar elsewhere.

But which bank should I move to?

What I would like to do is move to the bank which behaved the best, (or do I mean the least badly), in the period leading up to the crisis of 2008. (So obviously RBS & HBOS are disqualified.) And Barclays are crooks over the LIBOR rate fixing affair.

So what options am I left with?

I would have said Lloyds TSB but there part of the HBOS group so you can't bank with them based on this statement "HBOS are disqualified"

It really only leaves you with HSBC as the only other big bank, and there not exactly squeaky clean either!!!!

nilrem_2

Cooperative bank/Smile don't seem to bad but they are not very 'exciting' also their interest rates are pretty poor.

antrobus

dr_adidas01 wrote: »

I would have said Lloyds TSB but there part of the HBOS group so you can't bank with them based on this statement "HBOS are disqualified"....

It's the other way around. HBOS are part of the Lloyds Banking Group.

System

I would guess CO-OP bank is only the bank as such, the rest would be Building Societies such as Nationwide or Yorkshire.

• LTSB and HBOS would have also needed individually bailed out if they hadn't merged.
• Barclays were bailed out; by Middle Eastern governments.
• HSBC was bailed out by it's main Asian operations.
• Clydesdale / Yorkshire bank by it's main Australian operations.

grumbler wrote: »

Barclays were not the only crooks and AFAIK, unlike some other banks, they were not bailed out in the crisis.

I prefer using more pragmatic criteria for choosing banks than some 'behaviour' and LIBOR manipulation: interest rates and charges, bonuses and extras, customer services.

danielson81

Metrobank?

grumbler

Heng_Leng wrote: »

• Barclays were bailed out; by Middle Eastern governments.
• HSBC was bailed out by it's main Asian operations.
• Clydesdale / Yorkshire bank by it's main Australian operations.

Who cares? And I would call this 'raised money' from volunteer investors rather than 'were bailed out'.

Quaffa

Thanks for the advice. I think the Co-Op looks interesting.

dr_adidas01

Quaffa wrote: »

Thanks for the advice. I think the Co-Op looks interesting.

May look interesting there online banking is so antiquated and it takes them days to update balances on accounts. My Co-Op account is the least used because of this.

nilrem_2

Quaffa wrote: »

Thanks for the advice. I think the Co-Op looks interesting.

Consider Smile if you want online banking, they are owned by the Co-Op but as with them the interest rates are derisory (compared to others).