Thinking of opening a new current account (not switching) and would prefer one woth a UK call centre

gsmh

Money_Grabber13579 said:

I think that is very unlikely given that Lloyds were required to sell off TSB for competition reasons and I’m not aware that banking has become significantly more competitive since then.

Surely that was an EU directive, which no longer applies?

Nasqueron

gsmh said:

Money_Grabber13579 said:

I think that is very unlikely given that Lloyds were required to sell off TSB for competition reasons and I’m not aware that banking has become significantly more competitive since then.

Surely that was an EU directive, which no longer applies?

It was both - the EU and UK jointly bailed them out and as a condition (from the EU) of the state aid, they had to split - suppose they could now but given the loss they made selling it off, I suspect they might not want it back. With the digital challenger banks though, potentially there is enough competition that it might not be blocked

TheBanker

Mum161111 said:

Thank you very much for all these helpful replies and links.  My nearest TSB branch is not on the list for closure and, since it seems to have a UK Call Centre, that sounds like a good choice for me.

I prefer having access to a local branch and, although I am not enthusiastic about telephone banking, there times when it is very helpful and I prefer a UK Call Centre.  I'll look into the best TSB Current Account for me.  Many thanks.

Just bear in mind that we see new lists of branch closures being issued on a regular basis - so just because your branch is 'safe' for now it doesn't mean it won't be on next year's list. The only real exception is Nationwide who have their Branch Promise which runs to 2028 (https://www.nationwide.co.uk/about-us/branch-promise/).

What type of things do you do in the branch? If it's just paying in/withdrawing then most banks allow these transactions to be made through the Post Office. However the PO staff can't help with any other banking activities such as cancelling Direct Debits or making Faster Payments. 

Mum161111

Thanks TheBanker.  I know we have to accept that things are changing.  Where I live The Post Office is often queued out of the door and only a few till points are open.  I understand it is to be expected because of the wide range of services offered,  but the queues can be really slow moving.

Just once, but it was upsetting, a bank, not Post Office, cash machine did not give the cash but deducted it from my account.  It took over a week but, thankfully, I did get it back.

I prefer to be served by a teller, face to face inside a branch, rather than deal with a machine for paying in or getting cash,  even some £5 notes, out.  Then, safely, put the money in my purse with some privacy..

Definitely not racist, not at all, but overseas call centres can sometimes be difficult to understand or  seem to answer as if readi g from a script.  I don't  intend any offence - it is just difficult at times.

Things are changing, have to accept it,  although it can be stressful.  Even so have to move with the times.  Thank you for the link and for replying.

EarthBoy

Mum161111 said:

I prefer to be served by a teller, face to face inside a branch, rather than deal with a machine for paying in or getting cash,  even some £5 notes, out.  Then, safely, put the money in my purse with some privacy..

Many banks will direct you to use the inside cash machines for withdrawing cash, or paying it in, unless it's coins.

I went in my local TSB (before it closed) to pay some cash in, and I was intercepted by a woman asking what I'd come for, and when I said I'd come to pay money in, I was escorted to the inside ATM and shown how to pay it in there.  

Mum161111

That has happened to me, EarthBoy.  When I said that I was hoping to get some £5 notes the lady let me go to the teller but told me it might not be possible in the future.  She actually told me I could get £10 notes from the cash machine and go to a shop to get change.  Her approach disappointed me.

Nasqueron

It would probably be easier to get used to using a card for payments rather than going into the PO to try and withdraw cash from a person - you have a card to withdraw money and a good budget app might help more than cash

WillPS

Do you have a building society of any sort nearby? Perhaps an old fashioned passbook account might be more useful than a modern current account.

Mum161111

Yes, WillPS, there is a Nationwide Branch not too far away and I actually have a Savings Account there.  I'm probably very old fashioned but I always looked uponNationwide as not an actual bank.  The overall suggestions seem to be to use a card rather than cash - I need to move with the times.

I have always resisted using the contactless part of my debit card (too fast!) but, again, it is the way things are going.

eskbanker

Mum161111 said:

I'm probably very old fashioned but I always looked upon Nationwide as not an actual bank.

Technically they're not an actual bank, but remain a building society, although there's no material difference in the context of accessing cash from a branch and most other services.