Top Bank Accounts Discussion Area

Babache

Hi all.
Had an in-depth look at the article and (some) comments on here but, well ...

Story so far: Relocated to the UK last year and am at present unemployed. Am using my sister's a/c where my benefit is payed twice-monthly. I will need to relocate shortly for job purposes but have no money so I need to open an a/c in my name AND finance a relocation which is not being covered by future employer.

The fact that I have lived abroad means I have no credit history but I need to finance approx £2000 / 3000 which I would pay within 12 months (18 tops). Should I maybe wake up and join the real world or could that be possible? Any have any similar experience or advice to give? All comments and input very much welcome!

Thanking you, Babache.

mmmmh

I do never have bank account with HSBC or First Direct. May I apply for both of them, e.g. get a HSBC account before 6 Feb and switch to First direct in Aug?

johnbarratt76

Hi

My wife and I have a joint flex account with Nationwide for all the household bills. We first set it up becuase of the free overseas withdrawals. Now that this has been withdrawn and its interest rate is almost non existant i'm looking for an account that delivers a good rate of interest and preferably free overseas withdrawals but doesn't have a monthly fee atatched to it.

Does anyone have any ideas of who to switch to and if anyone has switched from Nationwide who did they switch to and has it been a good expereince.

Thanks

John

Fortyfoot

johnbarratt76 wrote: »

Hi

My wife and I have a joint flex account with Nationwide for all the household bills. We first set it up because of the free overseas withdrawals. Now that this has been withdrawn and its interest rate is almost non existent. I'm looking for an account that delivers a good rate of interest and preferably free overseas withdrawals but doesn't have a monthly fee attached to it.

Does anyone have any ideas of who to switch to and if anyone has switched from Nationwide who did they switch to and has it been a good experience.

Thanks

John

Many years ago I switched from Lloyds to Nationwide for the 2% interest on their current account. I am now in the process of switching back having added "Vantage" to my Lloyds account. The account now pays up to 4% interest up to £7000. Lloyds have a branch close by so I use that for deposits as Nationwide have closed their local agency.

I have the Nationwide free travel insurance so will be depositing £750 a month to pay some DDs and SOs and then transfer the balance back to Lloyds.

YBS on line saver pays 2.1% so anything over £7000 would be transferred to my account with them.

Fortyfoot

Leon2005

Hi All

I am interested in swapping my Halifax current account which has a £300 overdraft interest free (£5 per day when £300 is exceeded) for something more competitive. Has anyone had this account and switched for a greater overdraft somewhere else?

I am buying a new car soon, I have £2k raised, and need another £2k, and figured an interest free overdraft might be the cheapest way forward, but then I normally use my overdraft every month, so I would have to clear the £300 before transferring to a different account, is this correct?

Any input is appreciated.

Leon

vixen1500

I have just opened accounts with santander and halifax as they were apparently the best buy Top in credit ones.

But now I notice at the bottom of the article details of the Lloyds Vantage and must say I was really surprised to find that not mentioned either in best bank or best savings.

Is this because there is some sort of catch which I have not noticed - only 4% interest on balances upto £7,000 seems to me to be a very good deal.

Love to hear back on this
:beer:

izools

mmmmh wrote: »

I do never have bank account with HSBC or First Direct. May I apply for both of them, e.g. get a HSBC account before 6 Feb and switch to First direct in Aug?

Yes this is OK. Even though FD is part of HSBC they will pay the £100 bonus for switching from one to the other.

I opened my HSBC account in August and will be switching to FD in May to take advantage of the fantastic savings rates and sublime customer service (so long as I pass their checks)

izools

pona wrote: »

I went to open a current account at alliance and Leicester it was advertised at 6% interest last year- what I didn't realise though was Alliance and Leicester were charging a 6.1% to run the account.
Please be careful when opening any account - if the interest seems to be very good there is normally a catch.
Needless to say I didn't open the account - I was given good advice from someone who had had their fingers burnt.
I still haven't found an account that I don't have to pay a management charge or one that I can gain a decent amount of interest.
I'm rarely overdrawn but I don't earn a salary so I don't qualify for the accounts that are advertised.
Does anyone have any ideas where I can get a current account that pays some interest preferably more than0.01%?

Lloyds TSB Current Plus has a good rate if your balance is typically £2,500 or less. There is no fee for the account but they will try and sell you a fee-charging account. Be persistent that you don't want an AVA product(Added Value Account) and they will back off with the hard sell.

Apply over the phone and make sure they open it as Current PLUS and not Current VANTAGE. Vantage pays much less interest than Plus on lower balances.

You can still pass the credit checks with them if you aren't drawing a salary so long as you have a clean credit file (or in the case of my flatmate even if you have an appauling credit file )

lionheart99_2

hi, does anyone know whether it is true that you can get bad "credit ratings" for "abusing" current account offers?

I have 3 halifax accounts and I'm swapping £1000 between them and getting paid £15 a month + £5 on their credit card. I left a+l over three months ago so I believe I can switch my main halifax bank account, get £100 from santander, get the 5% on £2,500 from santander and still keep my 3 halifax accounts getting £15 a month.

Truthfully I should be paying in £4000 a month to gain these benefits but the system is obviously very easy to get round. I have no problems with getting as much as I can from the banks, but I have been telling lies because I obviously don't earn £4000 a month so am I taking it too far in that I may get a bad "financial record"?

superostia

I'm just wondering whether anyone can confirm whether First Direct will pay the £100 on transfer of money from a seperate account as opposed to a transfer of salary directly from employers?