Will the big banks ever get with the times?

ValiantSon

Skippy13 wrote: »

What a horrible post, calling the elderly stupid just because they don't agree with your opinions. And card purchases are so secure aren't they?

My husband is a self employed handyman and he doesn't accept card payments (he's not stupid BTW, he just hasn't had the call for them). How do you suggest he's paid? Cash isn't always practical and some people don't have internet banking so a cheque suits them.

JuicyJesus didn't say that the elderly were stupid, he said that the banks decided not to abandon cheques after a public outcry, part of which centred around claims (not made by JuicyJesus) that the elderly would not know how to use cards or direct debits. Read the post again.

ValiantSon

mrchrisbrogan wrote: »

Notifications.

Big deal. Also worth pointing out that you can get text alerts on most accounts too, although this isn't exactly the same service.

mrchrisbrogan wrote: »

No pending.

I'm capable of keeping track of my spending.

mrchrisbrogan wrote: »

Account opened and usable within minutes

Same as most banks.

mrchrisbrogan wrote: »

Pin change, freeze card etc in app

I can change my PIN at an ATM. The need to freeze a card seems very niche.

mrchrisbrogan wrote: »

Categorising of spend

Only of any use if you do all of your spending from your current account. As I do most of mine on a credit card (delivering cashback, in-credit interest in my current account, and Section 75 protection) it wouldn't be of any value. Furthermore, it isn't that intelligent; if I went to the supermarket and bought food, toiletries, alcohol, washing powder etc, it would only be able to tell me that I had spent £X at the supermarket - big deal.

Can I introduce you to Excel?

mrchrisbrogan wrote: »

Less charges, foreign currency spend etc

Fewer charges. Which charges would these be? I pay an account fee for Santander 123, which gets me 1.5% interest on £20,000 (yes, I do get the full rate - the cashback covers it) and cashback on my direct debits. None of my other accounts cost me a bean.

Spending in foreign currencies is free and at the near perfect Mastercard rate with my Halifax Clarity card. The slight advantage of Starling (Monzo's limits make it a lot less so) is the ability to get cash at those rates. I would consider a Starling account just for this, but like my Halifax card it would only ever get used when I was abroad, with me transferring money into the account before I went away.

What is the etc?

mrchrisbrogan wrote: »

To name a few things...

That's about it, isn't it?

ValiantSon

mrchrisbrogan wrote: »

To give more context. Last week I opened monzo and NatWest.

With NatWest I’ve been lumbered with payment restrictions. Had to go into branch with ID and was in there for over an hour. Card reader is only sent if ordered and I can’t transfer my money back to Lloyd’s except for 250 a day after 4 day grace period.

Monzo opened in minutes - card arrived in two days and fully functional - no fuss.

That's one specific bank, who are notorious for being eccentric, to put it politely. This does not speak to Santander, Halifax, Lloyds, TSB, HSBC, First Direct etc.

RandomUser923759

FriendlyFoe - yes that’s another point I forgot to mention that I love - in app chat.

RandomUser923759

I’ve used excel to track my spending for years. I’m much happier using the likes of Yolt now.

RandomUser923759

I have Halifax, HSBC, Lloyds, TSB, BOS, NatWest, AMEX.

I used amex where I can. Starling for joint spending and now monzo for personal spending.

Monzo and starlings features, speed, clarity etc etc all far surpass all the other banks I have.

ValiantSon

mrchrisbrogan wrote: »

I!!!8217;ve used excel to track my spending for years. I!!!8217;m much happier using the likes of Yolt now.

Good for you, but it hardly coounters what I wrote, does it?

mrchrisbrogan wrote: »

I have Halifax, HSBC, Lloyds, TSB, BOS, NatWest, AMEX.

I used amex where I can. Starling for joint spending and now monzo for personal spending.

Monzo and starlings features, speed, clarity etc etc all far surpass all the other banks I have.

These are much less tangible benefits than you previously tried to argue for. I note that you haven't actually responded to any of the points I made.

RandomUser923759

I am not really hear to argue. Personally just think it!!!8217;s time backs got with the times.

ValiantSon

mrchrisbrogan wrote: »

I am not really hear to argue. Personally just think it!!!8217;s time backs got with the times.

If you present points/arguments/views on a forum then you should be prepared for somebody to challenge them.

You are entitled to think what you want and I'm entitled to think that it is garbage.

RG2015

ValiantSon wrote: »

You are entitled to think what you want and I'm entitled to think that it is garbage.

In my opinion comments like this are unnecessary and lower the tone of the thread. There are good points on both sides of this conversation and I see no need to belittle others' opinions.