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Why do you bank with your bank?

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Perksy5
Perksy5 Posts: 141 Forumite
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edited 19 January 2023 at 11:31PM in Budgeting & bank accounts
Just curious, I'm getting a bit bored with my main bank account provider and looking to change it up.
Having read through several of the providers there's a lot of overlap on features, some banks are further behind in features/benefits than others and some still have their niche.

So, why do you bank with your bank?  Sentimental reasons? A feature you like? Maybe it's the UI of their app? 

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  • Rob5342
    Rob5342 Posts: 1,579 Forumite
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    My main account is with Monzo, I use them because they have a good app with lots of budgeting features likes having pots you can split money into and have direct debits come out of. Some of the other banks apps are archaic in comparison, despite having been around for far longer..
  • Perksy5
    Perksy5 Posts: 141 Forumite
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    Rob5342 said:
    My main account is with Monzo, I use them because they have a good app with lots of budgeting features likes having pots you can split money into and have direct debits come out of. Some of the other banks apps are archaic in comparison, despite having been around for far longer..
    I've been looking at Monzo, I love their UI. 
    The only off putting thing I have with them is that I'd like the open banking feature to have my cash back credit card there to track its spending easier but im feeling too stingey to pay £5 a month for the privilege when my existing provider does open banking for free.
    Got me thinking why move and thats why I thought I'd making this thread to see what makes others tick. 
  • elsien
    elsien Posts: 33,248 Forumite
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    edited 19 January 2023 at 11:45PM
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     Account one because I’ve had it for years and it works for me and I still get paper statement which I like. And I don’t have a pressing need to move. It’s got quite a good Internet banking page. Not bothered about the app because I don’t use it.

    Account 2 which was with the same bank, I went for the 200 quid account switching bonus. 
    All shall be well, and all shall be well, and all manner of things shall be well.

    Pedant alert - it's could have, not could of.
  • MikeJXE
    MikeJXE Posts: 3,145 Forumite
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    I bank with Santander 123 account, I'm advised on here it's not the best but I have been with them about 10 years and never had a problem.

    I don't worry about missing a few pounds and I'm not rich but I am happy and money doesn't equal happiness
  • ZeroSum
    ZeroSum Posts: 1,025 Forumite
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    edited 20 January 2023 at 12:08AM
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    MikeJXE said:
    I bank with Santander 123 account, I'm advised on here it's not the best but I have been with them about 10 years and never had a problem.

    I don't worry about missing a few pounds and I'm not rich but I am happy and money doesn't equal happiness
    It's more that the full fat version charge extra fees for rubbish interest. 123 lite is a decent account, but it's no longer available to those who haven't already got one.

    Personally, like many on here I don't have a 'main' account. I have different accounts for different things depending on what benefits they offer.
  • MikeJXE
    MikeJXE Posts: 3,145 Forumite
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    ZeroSum said:
    MikeJXE said:
    I bank with Santander 123 account, I'm advised on here it's not the best but I have been with them about 10 years and never had a problem.

    I don't worry about missing a few pounds and I'm not rich but I am happy and money doesn't equal happiness
    It's more that the full fat version charge extra fees for rubbish interest. 123 lite is a decent account, but it's no longer available to those who haven't already got one.

    Personally, like many on here I don't have a 'main' account. I have different accounts for different things depending on what benefits they offer.
    It wasn't rubbish when I opened it, it was 3% and no fees 

    I don't need to change I'm 82 and don't want the hassle, I don't need loads of money either I can support myself with what I have without chasing interest rates 
  • Richard1212
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    I bank with my bank because they give me exactly the types of account I want. I have three accounts and they meet my needs exactly as I want. I have been with the bank for many years and I have rarely been let down----and not many folk find that quality with regard to banks. 
    I am lucky because I do not to keep swapping banks in order to pick up bonuses but I really understand those who do so if it makes a big difference to their finances.
  • mgdavid
    mgdavid Posts: 6,706 Forumite
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    I've been with Barclays for my main accounts since the 1960s. I stay with them because they've never effed anything up, they provide simple mainstream banking services with no gimmicks, and I've never paid them a penny in charges.
    The questions that get the best answers are the questions that give most detail....
  • phillw
    phillw Posts: 5,599 Forumite
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    MikeJXE said:
    I don't need to change I'm 82 and don't want the hassle, I don't need loads of money either I can support myself with what I have without chasing interest rates 
    Doesn't that make your decision kinda unhelpful for the OP who does want the hassle of switching banks?

  • km1500
    km1500 Posts: 2,438 Forumite
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    Chase - spending account (1% cashback)

    Lloyds - bills direct debits account (like the push notifications on my phone)

    Nationwide - main account (like the security esp. new payees need card reader to add)
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