Why is opening an additional bank account so hard?

wmb194

Middle_of_the_Road said:

wmb194 said:

LoobyLou1 said:

Thanks everyone. I have already gone ahead and opened an account with TSB. I just cannot fathom why a bank would do its utmost to put you off opening an account with them? 

Why TSB(!)? That's out from the frying pan and into the fire.

Hardly, all banks have their detractors, and TSB seem no worse than other traditional options. I suspect the OP also prefers an established name, rather than the likes of Tandem, Chase, Kroo, Starling, Monzo and the like.

We'll have to disagree. In my experience TSB is dreadful. Lloyds for instance is about a million times better. Santander's bad but I'd still rate it far ahead of TSB.

Middle_of_the_Road

wmb194 said:

Middle_of_the_Road said:

wmb194 said:

LoobyLou1 said:

Thanks everyone. I have already gone ahead and opened an account with TSB. I just cannot fathom why a bank would do its utmost to put you off opening an account with them? 

Why TSB(!)? That's out from the frying pan and into the fire.

Hardly, all banks have their detractors, and TSB seem no worse than other traditional options. I suspect the OP also prefers an established name, rather than the likes of Tandem, Chase, Kroo, Starling, Monzo and the like.

We'll have to disagree. In my experience TSB is dreadful. Lloyds for instance is about a million times better. Santander's bad but I'd still rate it far ahead of TSB.

I'm sure TSB have their share of unhappy customers, as any bank will. I've had no problems with Santander, or any bank to date, but there's always a first time.

GeoffTF

wmb194 said:

Middle_of_the_Road said:

wmb194 said:

LoobyLou1 said:

Thanks everyone. I have already gone ahead and opened an account with TSB. I just cannot fathom why a bank would do its utmost to put you off opening an account with them? 

Why TSB(!)? That's out from the frying pan and into the fire.

Hardly, all banks have their detractors, and TSB seem no worse than other traditional options. I suspect the OP also prefers an established name, rather than the likes of Tandem, Chase, Kroo, Starling, Monzo and the like.

We'll have to disagree. In my experience TSB is dreadful. Lloyds for instance is about a million times better. Santander's bad but I'd still rate it far ahead of TSB.

With Santander I can do Faster Payments up to £100K over the telephone, and debit card payments up to £50K online. With Lloyds I would have to go into a branch for Faster Payments over £25K, and would be limited to £25K for debit card transactions. I did a £46K debit card payment yesterday. It went straight through. I have a friend who has been scammed twice, and Santander compensated him on both occasions. Lloyds, no thanks.

wmb194

GeoffTF said:

wmb194 said:

Middle_of_the_Road said:

wmb194 said:

LoobyLou1 said:

Thanks everyone. I have already gone ahead and opened an account with TSB. I just cannot fathom why a bank would do its utmost to put you off opening an account with them? 

Why TSB(!)? That's out from the frying pan and into the fire.

Hardly, all banks have their detractors, and TSB seem no worse than other traditional options. I suspect the OP also prefers an established name, rather than the likes of Tandem, Chase, Kroo, Starling, Monzo and the like.

We'll have to disagree. In my experience TSB is dreadful. Lloyds for instance is about a million times better. Santander's bad but I'd still rate it far ahead of TSB.

With Santander I can do Faster Payments up to £100K over the telephone, and debit card payments up to £50K online. With Lloyds I would have to go into a branch for Faster Payments over £25K, and would be limited to £25K for debit card transactions. I did a £46K debit card payment yesterday. It went straight through. I have a friend who has been scammed twice, and Santander compensated him on both occasions. Lloyds, no thanks.

You tell us repeatedly that Santander keeps blocking your payments, though. Lloyds doesn't block mine. You can use multiple Lloyds current accounts to circumvent those sorts of restrictions but you're an outlier. Most people won't find them a big issue.

LoobyLou1

Sorry, I hadn't realised my choice of bank would set off such a discussion! My original query was simply that I couldn't understand why some banks do not make it easy to bank with them. 

wmb194

LoobyLou1 said:

Sorry, I hadn't realised my choice of bank would set off such a discussion! My original query was simply that I couldn't understand why some banks do not make it easy to bank with them. 

You mean, the Co-op aka Smile doesn't. I think we all agree but most other banks will allow you to open additional current accounts with a few clicks and a short application.

TSB makes it easy for the first but you might have some fun if you open additional as it tends to get into a mess with creating and merging new internet banking profiles.

adindas

In the last few months (less than a year) I have managed to open four Bank Accounts. But good to explain, I have opened new bank accounts with the major banks I have been banking with. So for other people the case might be different.

penners324

GeoffTF said:

wmb194 said:

Middle_of_the_Road said:

wmb194 said:

LoobyLou1 said:

Thanks everyone. I have already gone ahead and opened an account with TSB. I just cannot fathom why a bank would do its utmost to put you off opening an account with them? 

Why TSB(!)? That's out from the frying pan and into the fire.

Hardly, all banks have their detractors, and TSB seem no worse than other traditional options. I suspect the OP also prefers an established name, rather than the likes of Tandem, Chase, Kroo, Starling, Monzo and the like.

We'll have to disagree. In my experience TSB is dreadful. Lloyds for instance is about a million times better. Santander's bad but I'd still rate it far ahead of TSB.

With Santander I can do Faster Payments up to £100K over the telephone, and debit card payments up to £50K online. With Lloyds I would have to go into a branch for Faster Payments over £25K, and would be limited to £25K for debit card transactions. I did a £46K debit card payment yesterday. It went straight through. I have a friend who has been scammed twice, and Santander compensated him on both occasions. Lloyds, no thanks.

Try Starling. Payments upto £250k. And they don't randomly block your account 

penners324

Middle_of_the_Road said:

wmb194 said:

LoobyLou1 said:

Thanks everyone. I have already gone ahead and opened an account with TSB. I just cannot fathom why a bank would do its utmost to put you off opening an account with them? 

Why TSB(!)? That's out from the frying pan and into the fire.

Hardly, all banks have their detractors, and TSB seem no worse than other traditional options. I suspect the OP also prefers an established name, rather than the likes of Tandem, Chase, Kroo, Starling, Monzo and the like.

Yet he has account with Smile....🤔

penners324

Smile is the issue. Coop are basically trying to close them down.

I had a Cahoot account for many years, looked like the account to have then Santander stopped bothering with them.