Choosing a new bank/account

Kewsea

In recent weeks I have been considering moving my main account from Starling to one of the High St banks.  It's not that I am unhappy with Starling in any way but I am at a point where I'd like to simplify things and have most of my financial needs (current account/credit card/loan if needed) with one institution.  Obviously Starling only offers me a current account (along with an excellent app etc).

I started by not having a preference for any particular bank, and I already had spare current accounts with Santander, Smile (Co-Op) and Lloyds.  I ruled out Barclays early because many years ago my parents were treated shabbily by them and I wouldn't entertain them.  My only strict criteria was that the app was decent enough to be usable so I looked at NatWest and HSBC as well, figuring that I had most of the big players covered enough to make a good decision.

The reality has been quite the opposite:

1.  NatWest.

Ths was probably favourite and they have really done a lot with the app/online and I was able to open an account seamlessly and offered me a Premier Account  Pity it went downhill from there with my being unable to apply for a CC due to an online glitch (they don't know why and have promised to call me back 4 times - no response).  I am also about to move to iOS from Android and accessing the app with the blink Face ID is an utter joke.  So may rule them out, which is a shame.

2.  Lloyds.

Their app is probably the most fully featured despite being cluttered and riddled with ads which drove me nuts, but easy enough to use.  The issue I had was their customer service over some very small issues.  Their online chat was hopeless and unhelpful, the phone line took 45 minutes and equally unhelpful, to the point where I was ready to delete it completely.  That probably rules them out but may be used as a switching donor account.

3.  HSBC.

In all not bad but their app and online offering, along with their CS response and application times, are so damn slow.  So much slower than every other I tried. The app is basic.  At a push, I could go with them as i can't fault its functionality but that's all.  They seem stuck in the past.  Their cards are nice though.

4 - Santander.

I was pleasantly surprised - current account and cc opening a breeze, app easy to use, CS through chat was responsive and I have a local branch.  The ONLY thing deterring me is the number of negative reports about them generally and on here - are they that bad?

5 - Smile.

Part of me wants to do this as there's something just nice and simple about it.  Plus I like the smiley face on their card :-).  However their tech is absolutely woeful.

So - what to do?  I guess I could try others (Nationwide, TSB) as others like Halifax and RBS will simply be Lloyds and NatWest clones.  

I'll caveat all the above by saying that I know opinions on banks vary wildly based on individual experiences and that there will always be praise and tales of woe in equal measure.

Would be keen to hear anyone who has faced similar dilemmas, particularly whether moving away from an app based bank was a smart idea after all.

Thanks in advance.

wmb194

iOS face ID works perfectly for me with NatWest on my iPad and iPhone. Lloyds would be my pick but I apparently don't need help from CS as much as you seem to. You'll never find a perfect choice, though, as they all have their foibles.

GeoffTF

I have my credit card with a separate bank so that if my bank's system goes down, I can still make payments.

Lions_89

It has to be HSBC. Are you in a rush? Once the account is open it’s good. Yes they are a bit old fashioned but never had any issues. 

Cloth_of_Gold

I'm with RBS. It's part of the NatWest group so don't know if the app is the same but I find it excellent. I can do pretty much everything on it apart from get out, or pay in cash, of course. I can even pay in cheques using it and the money is in my account the next day. I don't use face ID, just put a 6 figure code in, which takes seconds.

I was considering moving to a more ethical provider (either Nationwide or Cumberland BS, which both offer current accounts) but they both have lots of terrible reviews on Trustpilot. Not that that is the be-all and end-all but it did put me off as I really want my banking to go smoothly and if switching to a more ethical choice is going to give me a lot of problems I'd rather wait and see if they improve their digital 'offering' in the next few years.

wmb194

Cloth_of_Gold said:

I'm with RBS. It's part of the NatWest group so don't know if the app is the same but I find it excellent. I can do pretty much everything on it apart from get out, or pay in cash, of course. I can even pay in cheques using it and the money is in my account the next day. I don't use face ID, just put a 6 figure code in, which takes seconds.

Yes, it's identical to NatWest's. Ulster's is also the same.

Middle_of_the_Road

I use most of the apps you mention. Also agree the Lloyds/Halifax app is a bit cluttered, and prefer the simplicity and easy operation of the Santander app. Natwest is also good to navigate, logging in with finger print is better than face log in. I've had no problems with Santander and would recommend as a sole current account. The Edge account pays cashback on some spending and direct debits and allows opening the 7% Edge saver for balances up to £4k. 

friolento

It is very high risk to have all your finances with the same bank. What if there is a problem, not even of your own making? You could be stuck without access to money. 

I would have a minimum of 2 current account at two unrelated banks / building societies, plus at least one credit card with a third unrelated bank.I would also make sure I have at least one VISA and at least one Mastercard, in case either network goes down.

As to which is best: I suppose it depends a lot on what you like / dislike. I find the Loyds Group, Natwest Group and Nationwide apps quite good, but am a habitual Santander customer so use them most of the time.

Rob5342

I'd say that having everything with one bank would complicate things rather than simplify them. If you have the apps installed then it's just face or fingerprint to get into each of them, once set up then transferring money between them is just as quick as transferring between accounts at the same bank, and you can just choose each account on its merits and change them whenever you find a better one.

If you want to view it all in one app then some banks let you add accounts from other banks - Halifax for example.

It seems silly to have a worse credit card deal just to save a few seconds opening a different app.

boingy

My advice is: not Smile, not Smile, not Smile, not Smile, not Smile, not Smile, not Smile, not Smile....
They are on the way out.

Add First Direct to your shortlist

Kim_13

I’d echo the advice regarding having at least two current accounts with funds in. As regulations advance, account freezes become more common and you’ll need to have access to funds elsewhere to tide you over. Starling now pay 3.25% interest so it makes sense to keep a modest amount in there for this purpose. They state that customers who have previously left them should contact them if they wish to open a new account - with the high street banks you can just apply, so it may not be possible to get another Starling account if you later regret the switch.

Starling use Mastercard, so I’d opt for Lloyds - I believe they’re the only one on your list still using VISA cards, to give yourself that backup. Nationwide Building Society are also VISA and have given a commitment not to close branches for at least a few years. I do like their app but it’s annoying having to log into online banking to set up a new payee with a card reader - though you could say this is more secure.