Which bank??

System

Certainly sounds like the best idea as the mobile PO seems like your closest 'branch'.

In a crunch, you can always post your cheques to your branch with a depost slip and write your bank details on the back of the cheque.

thestens wrote: »

I think you are right YB keep the TSB account ( already Enhanced - until you mentioned it I had no idea there was such a thing) and pay in cheques at PO ( mobile PO calls at closest village twice a week - new house pretty isolated nearest full time PO is 6 miles away same as banks.)
I opened the bank account when at University as Lloyds was in the college and am now happily retired and have had same account all the time.

anotheruser

I have no opinion on Barclays or the Newcastle Building Society as I haven't used them. However:

HSBC: I believe have been one of the strongest banks throughout the past few years. Their online banking is nice and clear to understand but they lack in so many areas.

While other banks are getting mobile apps on the way, HSBC's doesn't allow you to transfer money, it's basically a "statement" app and only the last few transactions at that!

Their accounts don't really do anything. Yes their paid for accounts are great but it's useless for so many people. Other banks are now well into their different cashback schemes but HSBC is completely ignoring this new craze, perhaps it's beneath them.
However I have had an account with them for well over 10 years and I don't plan on closing it.


NatWest: Not going into the recent system crashes, I found Natwest the hardest bank account to open.
1: Opened online but near the end of the application it said there was an error and I should telephone.

2: Telephoned and told to go into branch.

3: Went into branch, told to come back the following day with passport ID, despite me entering the required IDs online. HSBC usually allow you to see an advisor straight away, which is great as I never know when I need to speak to someone.

4: Went back the following day and opened the account with a guy who made it seem like it I was taking up his tea-drinking time.

5: Received a letter saying my online application was successful and I should visit the branch to sign a form / show ID.

6: Tried to register their phone app but wouldn't work.

7: Telephoned the mobile banking team who said try and text again. I text the number six times. I also had to take a special block off my contract phone so I could text their 68222 number to de-register my number as it transpired I had already registered to the HSBC app. Whether this means you can't use both I don't know.

8: Bill on mobile contract cost me an extra 60p.

9: Complained and got the 60p back, also £10, which was nice.

10: Natwest payments crashed. Luckily I was only paying on Amazon but still hassle to pay using my joint account, then put money back in joint account.

11: Account (will be) closed just 5 months after opening. In fact, I will use it to transfer to my Halifax account to get their £100 deal once my second DD has been sorted.

Shame.

gt94sss2

anotheruser wrote: »

While other banks are getting mobile apps on the way, HSBC's doesn't allow you to transfer money, it's basically a "statement" app and only the last few transactions at that!

Assuming you have a iOS or Android device have you used their Banking on the go app? This allows transfers and payments.

You seem to be describing their older Fast Balance app which as you say only lets you view your balance/recent transactions.

Regards
Sunil

rb10

Sethan wrote: »

You won't get generally any notable interest on any current account,from any bank in any country.

Other than the Nationwide FlexDirect.

And the Lloyds Vantage.

And the Santander 123

And the Bank of Scotland Vantage.

And the TSB Enhance.

And the Halifax Reward.

But other than those exceptions, your statement is correct.

Sethan wrote: »

And saver accounts aren't any better, sitting in the 4-6% AER gross.

A standard savings account would pay 1-2% gross.

YorkshireBoy

rb10 wrote: »

But other than those exceptions, your statement is correct.

Not forgetting:


Clydesdale Bank Current Account Direct


And also not forgetting Yorkshire Bank Current Account Direct.




Perhaps 'Sethan' could list as many providers who don't pay decent interest on at least one of their current accounts (but somehow I don't think so )).

anotheruser

gt94sss2 wrote: »

You seem to be describing their older Fast Balance app which as you say only lets you view your balance/recent transactions.

I see, they finally updated their app.
No Windows Phone app though, which is a shame most banks are ignoring this eco-system as now Microsoft are merging the Windows 8 app store with the Windows Phone app store then apps should work on either. But then by having a Windows Phone, I realise I'm in the minority.

Archi_Bald

Sethan wrote: »

What I'm saying is that I look at a bank for a current account as a current account,saving as saving,investing as investing.

It is your right to keep looking at things in a traditional manner. Just as it is the right of others to think outside the box and place their money where they like.

Sethan wrote: »

So I think it's foolish to expect income from a current account. Easily offset by inflation.

It isn't foolish at all to expect income from a current account. A lot of people on this forum do not only expect it, but they have been getting just such income for the last 18 months or so.

You are right, it's not much above inflation, but that is not unusual. There has always been a correlation between interest rates and inflation.

southantrim3

Myself and OH use the Halifax, I realise they're not the best, especially on the phone but their online setup is superb which is mainly why I stick with them
We have a seperate current account each and also a joint current account. We get the £5 per month for each account, totalling £15 per month, which in my opinion ain't too bad under the current climate.

Gromitt

Sethan wrote: »

I saw one of the mentioned accounts that gives 5% p.a. gross,and then I read "for 1 year.then 1% as long as you supply X amount per month".Seems...useless for me.

Seems to me more like "I'll take that account for one year and then dump it. That's £120 (-tax) of free cash".

Sethan wrote: »

And if you need to talk to the bank and they'll charge your call,it's all over...your profit is gone.

I don't think of it as profit. I think of it as fighting inflation. If I need to ring the bank for some reason I'll use a free phone, international number or call from work (personal calls are allowed), therefore it costs me nothing.

Sethan wrote: »

Anyway.I'd even say that you'll gain more if you get paid,figure out what you afford to save and immediately place it in a savings account,rather than keeping it in a current one.I dunno if that makes sense to you.

It doesn't. Why would I remove my cash from an account paying anything upto 5% and place it into an account paying 1.4% ? Seems daft to me, so instead I make my money work harder. I deposit it in Halifax to get £5, then into 10 others accounts, getting me between 3% and 5%, then I pay bills with it and get cashback, etc.

grumbler

Sethan wrote: »

......lower interest rate on a flat amount can give in certain conditions higher return than a higher rate placed on an ever lowering amount.

This is untrue unless you explain what these 'certain conditions' are.

If you have a lowering amount at, say, 3% it's impossible to get higher return by moving some 'flat' amount to, say, 2%.