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Changing bank atfer 40 years where to go?
Comments
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I'm surprised that the government hasn't actually provided some political pressure for at lest one bank to be maintained, particularly in rural areas and small towns.
As well as directly bailing out rbs and lloyds the government provided a tacit guarantee that kept all banks afloat during the gfc.
If nothing else it would be a positive bit of PR for both politicians and the financial industry, no one can say either party isn't in need o f a bit of that.
I know RBS promised not to close where they were "the last bank in town" but that went down the drain. They're closing a branch near me, which doesn't leave any bank branch in the area. Okay, I live in a city so there are lots of other options, but people like the OP get stuck.
Post office closures are rife too. Another 37 in January this year.
Maybe banks should be forced to contact customers with accounts at the branch being closed, and those who use the branch regularly. They should be forced to identify other nearby banks (i.e. competitors) and offer to help switch the accounts to those banks if the customer wants to. I wonder if they would think twice then?0 -
Maybe banks should be forced to contact customers with accounts at the branch being closed, and those who use the branch regularly. They should be forced to identify other nearby banks (i.e. competitors) and offer to help switch the accounts to those banks if the customer wants to. I wonder if they would think twice then?
Finding out which branches are near to where you live and switching to another account is such an easy process i don't think a letter explaining this would have much effect.
Plus i'm sure they would be happy to help their unprofitable branch using customers to switch to another bank.0 -
Finding out which branches are near to where you live and switching to another account is such an easy process i don't think a letter explaining this would have much effect.
Plus i'm sure they would be happy to help their unprofitable branch using customers to switch to another bank.
Maybe but there's a real problem in rural areas, even moderately sized towns where there's no bank branch of any brand.
It's not just a banking issue, it's one of they key elements of many communities and makes it more difficult for people in rural rates in general.0 -
Maybe but there's a real problem in rural areas, even moderately sized towns where there's no bank branch of any brand.
It's not just a banking issue, it's one of they key elements of many communities and makes it more difficult for people in rural rates in general.
But it's only really an issue for businesses who need to pay in cash and withdraw coins.
With online banking, telephone banking, cash machines and the increase in acceptance of card payments very few people actually need to use a bank branch.
People are generally resistant to change so sometimes they have to be forced to change by removing obsolete ways of doing things.
One thing that always surprises me is the amount of people who still go to a cash machine to withdraw cash and then go and spend it in a shop that accepts card payments.0 -
Finding out which branches are near to where you live and switching to another account is such an easy process i don't think a letter explaining this would have much effect.
Plus i'm sure they would be happy to help their unprofitable branch using customers to switch to another bank.
A lot of people still don't realise how easy it is to switch. One of my colleagues had no idea until I explained it, and showed her MSE. She just did it and was surprised by how simple it all was.
Yes, you may know there is an alternative, but if you don't know how easy it is to switch you're not going to. RBS is closing a branch near me (not an issue as I switched my account anyway) and the information they gave was all about internet/mobile banking and using the post office.
If it REALLY was about giving you your options when your branch is closed, that should include other banks. It should also be part of simple customer care. "We're closing your branch, you can use the post office, or there is another bank nearby, and we can help you move your account in 7 days" followed by an explanation of how easy it is. That makes sure people know they have that option rather than "jog on down to the post office".
I live in the city and I use internet and mobile banking, so to be honest branch closures have not really affected me. But in rural areas it's a real problem.0 -
But it's only really an issue for businesses who need to pay in cash and withdraw coins.
With online banking, telephone banking, cash machines and the increase in acceptance of card payments very few people actually need to use a bank branch.
People are generally resistant to change so sometimes they have to be forced to change by removing obsolete ways of doing things.
One thing that always surprises me is the amount of people who still go to a cash machine to withdraw cash and then go and spend it in a shop that accepts card payments.
No, it's absolutely not.
It's one element of destroying small communities, similar to closure of post offices, local shops and often schools.
It also means that there's very few jobs for people who then tend to move and we end up with more being sucked into big cities, especially London, and fewer young people of working age being retained in rural areas.0 -
Except in the OP's position where there is a need to pay in cash, not easily done online!
Yeah but you can use a third party eg loomis.co.uk/our-solutions/cash-in-transit.html
I'm new so can't post actual links but if you copy that into a browser it'll work.
Yes I know it's an expense but then the op would still have to fork out for petrol if they did it themselves.0 -
I have no idea how that service is priced but would be extremely surprised if the cost of helmeted security staff in armoured vans was in any way comparable to fuel/parking for occasional deposits at a post office or bank branch so this sounds like a sledgehammer to crack a nut!Curiosity2018 wrote: »Yeah but you can use a third party eg loomis.co.uk/our-solutions/cash-in-transit.html
I'm new so can't post actual links but if you copy that into a browser it'll work.
Yes I know it's an expense but then the op would still have to fork out for petrol if they did it themselves.0 -
I have no idea how that service is priced but would be extremely surprised if the cost of helmeted security staff in armoured vans was in any way comparable to fuel/parking for occasional deposits at a post office or bank branch so this sounds like a sledgehammer to crack a nut!
Well then the op will have to choose the cheapest. What I'm saying though is basically the op has options.0
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