How/Why did you choose your first Current Account?

Goldiegirl

My first current account was with Barclays. I opened it in 1976 when I was 16, when I started working for them

Five years later I got a job with the Halifax. I kept using my Barclays account, until Halifax started doing current accounts - I can't remember the date.

I kept the Barclays account until a couple of years ago for sentimental reasons, but closed it down, as I've been tidying up my life in general.

Savvy_Money

My first current account was a Midland Bank Livecash account. 1989 I think. Only a cash card and I'm not sure why I opened it as my wages were cash. I think it must have been the free filofax that excited me.

JSR

NatWest, it was opened by my parents on my 10th birthday (1988) and came with free pigs and later WWF medals (wildlife not wrestling!). The account was converted into a current account when I started working and it was my main account until about 2 years ago. Call me weird but I can't bring myself to actually close it as it has sentimental value! I even put money through it every so often to make sure it doesn't go dormant. :shhh:

Bloomberg

ChrisLights wrote: »

Hi everyone

After spending hours reading on here about current accounts and the every day issues they cause, but also about switching or returning to a specific bank, I thought it could be interesting to find out how people chose their very first bank account. In today's world, it seems very much down to £100 incentives or £5/month payment, but before all that, what influenced your decision?

I'll start, my very first account was with Lloyds TSB, my grandmother decided for me after looking up some information on good old Teletext, in those days I didn't have a clue...

Thanks for starting such an interesting and somewhat nostalgic thread. Back in the early eighties when I was a teenager my parents opened me a Barclays Supersaver account. That was back in the days when Midland Bank were giving out the black bags with the griffin - older readers will remember this. I stayed with Barclays until I was in my early twenties and then switched to the Abbey National as Barclays had made some mistakes on my account and ATM balances were not in real time. I also liked the idea of being able to pay bills via cash machines.




Then the Abbey National started charging one pound to use an ATM that wasn't theirs. I then switched to Nationwide as they were extremely competitive with charges and overseas withdrawals. I got annoyed waiting for them to implement faster payments and the fact that their online statements were a full day behind was also an issue for me. I then jumped ship to HSBC who have been the best by a country mile.

Katgrit

I opened my first "grown up" account 2 weeks before I started Uni back in 1996. I chose Barclays because they were local, and had good rates and large interest free overdraft. So Mum and I made an appointment in branch and sat down with all my ID. The conversation went as follows:

Barclays: So you want to open a student account with us?
Me: Yes. Here's all my ID, my letter from Uni confirming my place on the course and here's my Mum who would like to set up a standing order for £400 a month (that was at the time A LOT of money for a student to be funded by) into my new account.
Barclays: Great. Can we see your letter saying you'll be getting a government grant?
Me: Erm...No. I wont be getting a grant. My parents earn too much. But they'll be giving me a large contribution each month, £400 in fact, and paying for all my halls of residence upfront. I shouldn't need to take out a student loan hopefully.
Barclays: No can do. We need the grant letter before we'll open the account.
Mum: But she wont be entitled to a grant. She hasn't even applied for a grant. Me and my husband earn to much. But I'll set up a monthly standing order for £400 from my own account to her.
(Mum worked for the careers service in University admissions so knew her stuff)
Barclays: But everyone gets a grant.
Mum: She wont. We earn too much.
Barclays: Oh. Are you sure?
Mum: Yes. We'll be supporting her. The money we'll be giving her is actually MORE than the grant would be.
Barclays: We still need the grant letter.
Mum: Even though it'll say she isn't getting a grant?
Barclays: Yep.
Mum: So you want us to apply for something you know we're not entitled to, wait 28 days for a letter telling us she isn't entitled to it and come back here to show you, at which point you'll ask if she's getting parental contributions instead?
Barclays: Yep.

The woman went and got the manager, we had the whole conversation over again, then we walked out of the door up the road to Natwest who we're perfectly happy with the fact I was being supported by my parents rather than the government. The manager set up the account there and then and I've been with Natwest ever since.

Prior to her retirement last year everytime my Mum was lecturing at a 6th form or Uni careers event and got a Barclays rep creeping to her she would always happily tell them this tale.

Goldiegirl

endure wrote: »

My first bank account was at Williams Deacons. I had to have it because I was an employee. I wasn't allowed to have any accounts with banks other than WD. Things were a bit stricter then.

Stricter? They wouldn't be allowed to get away with that nonsense nowadays.

Actually, as a bank employee, I prefered to have my account at the bank I was working for, it made life a lot easier.

In the days before the internet I could always keep track of my account, just by doing an enquiry on it, and also make sure the admin of it was being done ok.

In addition, as I worked for the Halifax, my parents opened accounts with the Halifax too. When my dad died, I had to get power of attorney for my mum and later when my mum died, I just had to walk upstairs at the office to get someone to do the admin on my parents accounts - no stressful trips into branches were needed.

I keep my main accounts with the Halifax even though I no longer work for them, as I've got to have them somewhere, but I repaid my mortgage as I wasn't happy with the admin on it. Prior to being made redundant I was able to keep an eye on my mortgage far more easily.

bsms1147

Natwest, for the young person railcard!

datlex

My first current account was with the bank in the village where I went to college. I used it purely due to convenience- I didn't have access to a car. Ironically several years later, I use the same bank having opened a new account as my backup account- the one to which cheques get paid and unspent money at end of week is sent to.

anoncol

The first bank i chose was Midland because it had a free rail card when i was a student.

anotheruser

dr_adidas01 wrote: »

Its was the Midland bank (Now HSBC) simply because my parents banked with them...

This.

My personal current account is with HSBC and probably always will be. I do like their internet banking, nice and simple, but they do nothing to innovate or push banking into the future; Their secure key for internet banking has been the only innovation I have seen as a customer.

My joint account was with them (purely for convenience), but we've since switched to Santander.

My savings account is also now with Santander (ISA) - no reason to stay on a low basic saver with HSBC.
I also have a savings account with Halifax (for £5 reward).

My old Credit Card was with HSBC but I'm closing that as I temporarily opened a Halifax Clarity (for the 0% fees abroad). I planned to close it as I rarely (once or twice a year) use my credit card, but thought I may as well keep it, so closed the HSBC one.