Choosing a new bank/account

lr1277

I too have been with FD for 20+ years and they have excellent customer service.

Here are some caveats though:

1) Whenever FD has been discussed in the past, some poeple slate their app. I find it does everything I want but tor those who are app savvy, they have found the app is not for them.

2) Just because FD is part of the HSBC group, does not mean their systems are the same nor that they do everything similarly. I used to have the old John Lewis credit card which was a partnership between John Lewis and HSBC with HSBC providing the back end processing. With their credit card, I could choose the statement date and it would be the same every follwing month. With my FD credit card, when I asked about this, they could only give me a target date, but the statement date might be 1-2 days outside that target date.

3) The FD app set up took me over 30 mins, but the CS rep stayed on the phone with me to help set it up including giving me time to think of and input new passwords.

As you seem to be app focussed, have you considered looking at the reviews on your particular app store for each bank's app? In the Apple store, the reviews seem to cover both the app and the service from the bank. This may or may not help your decision making.

flaneurs_lobster

It's difficult to pick a "best" bank form the dozen or so current accounts and associated accounts/services that I've acquired over the last couple of years, but I'll make one observation because it stands out in my mind.

The Santander online interface is one of the worst pieces of design that I've had the misfortune to try and interact with.

Odd because their app is perfectly fine.

j813ys

The NatWest app is way out infront for the traditional high street bank category.

Only 1 minor problem and 1 missing feature.

Minor Problem - When an individual sends you money it doesn't tell you who it came from unless they put their name in the reference.

Missing feature - no pots/spaces to separate spending and bills money.

They have just brought in incoming money notifications to match the outgoing ones.

It's all pretty slick really.

Middle_of_the_Road

j813ys said:

The NatWest app is way out infront for the traditional high street bank category.

Only 1 minor problem and 1 missing feature.

Minor Problem - When an individual sends you money it doesn't tell you who it came from unless they put their name in the reference.

Missing feature - no pots/spaces to separate spending and bills money.

They have just brought in incoming money notifications to match the outgoing ones.

It's all pretty slick really.

Thanks, I'd not heard about this. Do you need to set it up?

j813ys

It's just a toggle button in notification settings and general.

Cloth_of_Gold

I'm amazed that people have not just a couple of current accounts but many. I've never felt the need to have more than one and having 10 or more, as some people seem to be saying, seems like a lot of work. Why would you need so many? Why do I need more than one in fact, or at most two? I've never had any problems with the one I've got either putting money in, getting it out or transferring it. I have a bs savings account too and some bs investments, but they need little or no managing. 

I used to have two credit cards but closed the Amex one a few years ago as I was fed up of paying the annual fee. The one I have (used to be Visa but is now Mastercard) has never failed to work so I don't see the point of getting a Visa one too. At this stage in my life I just want to try and keep everything as simple a possible as I have enough going on without trying to manage multiple bank accounts and credit cards. Perhaps I'm missing something but I'm nor sure what it is.

cricidmuslibale

Cloth_of_Gold said:

I'm amazed that people have not just a couple of current accounts but many. I've never felt the need to have more than one and having 10 or more, as some people seem to be saying, seems like a lot of work. Why would you need so many?

One reason some of us still have considerably more than a couple of current accounts is that from c. July 2020 to c. February 2022 it was possible to acquire multiple Virgin Money current accounts mainly for the 2% monthly interest which during most of that period was a significantly higher interest rate than was available nearly anywhere else!

More recently, having several or more current accounts is much more likely to be due to being able to pick up switching bonuses. Some folks on here (not me sadly) have made c. £2500 over the last year or so in tax free switching money!

Rob5342

Cloth_of_Gold said:

I'm amazed that people have not just a couple of current accounts but many. I've never felt the need to have more than one and having 10 or more, as some people seem to be saying, seems like a lot of work.

It's a good idea to have at least two current accounts so you have a backup. Sometimes banks systems go down, or a debit card stops working or has to be cancelled due to fraud so it's sensible to have a second account you can use. Problems aren't all that common but if you only have one account then you could be left without the means to spend. I always carry my main bank card, a card for an old account that's empty but has an overdraft facility, and a credit card.

I have 7 current accounts altogether for various reasons. Some I have just to keep an eye on the app features so I can decide if I want to switch my main.account, some I've kept because I have a bad credit score and might not be able to open an account with that bank later and went to keep the option of using them later open. Some I keep simply as I have an account to use for a switching bonus. Most of them I hardly use so there isn't any effort inanaging them.

Middle_of_the_Road

Got 11 at the moment. Most are because a regular saver requires having a current account with the bank in question.

Katiehound

It's a case of not having your eggs in all one basket. 
It's worth having a couple of credit cards in case there's a problem with one.
 I have 4 but  mainly use one.
One is there in case I need a DD.
Another is there as it has no charges if I use abroad.
 None of them cost me anything and one gives me a teeny bit back... very teeny indeed!