Which is the best current account?

meyore

Where I live in sunny Cornwall we don't have much choice of banks etc. we only have lloyds,hsbc,barclays,natwest,abbey and halifax... From my research (ha!) it seems alliance and leicester is the best, but we don't have one locally, and I've been told nationwide is also good, but again not down here... I want to get the best returns etc on the money that is in my account. Does anyone have any recomendations
:rotfl:

gt94sss2

It depends what you are looking for in a bank account and how important is it to you to have a local branch. Do you go to a branch a lot or do you/would you mind using internet/telephone banking?

Generally, First Direct comes out best for Customer service followed by Smile and Nationwide. With First Direct you can use HSBC branches and with Smile you can use the Post Office to deposit money.

Some banks may pay more interest on current accounts than others - many only for the first year - but I believe the general advice is probably not to keep much money in a current account but move it to a savings account as soon as possible - regardless of which bank you choose.

Regards
Sunil

meyore

Thanks for the info, I will look into those tomorrow. I do want a local branch as I like to keep things simple. I don't tend to keep much money in my current account as it all seems to disappear on bills... I just want it to work for the short time its in there.

F1-Robbo

If you're happy with online banking this account is pretty special. OR SO WE THOUGHT. My partner (who signed up earlier than I did) has recently been told by A&L that, after an initial 12 months of having the account, she will no longer enjoy an interest free overdraft facility of £750. From (date), she will have to pay 50p a day if she's overdrawn AT ALL (up to a max of £5 a month).

Now, ok, this means that there's an overdraft facility for £5 a month which is less than I was paying at Lloyds - however - it removes one of the good benefits of having this account.

I guess when my 12 months are up - A&L will write to me too.

WHO ELSE HAS ENCOUNTERED THIS SITUATION? It seems like a pain to have to go through the hassle of switching over direct debits and standing orders only to have to potentially go through it again a year later.

slipthru

F1-Robbo wrote: »

If you're happy with online banking this account is pretty special. OR SO WE THOUGHT. My partner (who signed up earlier than I did) has recently been told by A&L that, after an initial 12 months of having the account, she will no longer enjoy an interest free overdraft facility of £750. From (date), she will have to pay 50p a day if she's overdrawn AT ALL (up to a max of £5 a month).

Now, ok, this means that there's an overdraft facility for £5 a month which is less than I was paying at Lloyds - however - it removes one of the good benefits of having this account.

I guess when my 12 months are up - A&L will write to me too.

WHO ELSE HAS ENCOUNTERED THIS SITUATION? It seems like a pain to have to go through the hassle of switching over direct debits and standing orders only to have to potentially go through it again a year later.

I have an account with A&L i always knew the special rates lasted a year though.

I'm looking to move now. I think halifax have a good account and theres no mention of 12 month special rates.

kaybu_9

does anybody know if A & L are still doing the "introduce a friend" scheme where you both get £25 ?
And if they are, does the person who already has the account have to recommend me and mention that they've done this to A&L ? How does one go about that ?

BlightyAndy

Doesn't https://www.Quidco.com not do cashback for A&L?

bunnymad

kaybu_9 wrote: »

does anybody know if A & L are still doing the "introduce a friend" scheme where you both get £25 ?
And if they are, does the person who already has the account have to recommend me and mention that they've done this to A&L ? How does one go about that ?

I've just done this with my boyfriend, the person who has the account has to recommend you, there's a link to follow on the website http://www.alliance-leicester.co.uk/currentaccounts/index.asp?page=recommend-friend they put in their details and your email. A&L send you an email, then you apply the account using the link on the email. I got my £25 two days ago :T

Alternatively as mentioned above if you apply through quidco they are offering £60 until 18th October.

gelato_cat

I've got one of these accounts but knew about the 12-month thing from the start, so I made a note in my calendar to transfer the money back (it sat in my savings account for the year). A&L didn't write to me to tell me that the interest-free period was ending.

Suze

F1-Robbo wrote: »

If you're happy with online banking this account is pretty special. OR SO WE THOUGHT. My partner (who signed up earlier than I did) has recently been told by A&L that, after an initial 12 months of having the account, she will no longer enjoy an interest free overdraft facility of £750. From (date), she will have to pay 50p a day if she's overdrawn AT ALL (up to a max of £5 a month).

Now, ok, this means that there's an overdraft facility for £5 a month which is less than I was paying at Lloyds - however - it removes one of the good benefits of having this account.

I guess when my 12 months are up - A&L will write to me too.

WHO ELSE HAS ENCOUNTERED THIS SITUATION? It seems like a pain to have to go through the hassle of switching over direct debits and standing orders only to have to potentially go through it again a year later.