Which Bank accounts

PRAISETHESUN

MouldyOldDough said:

The wife and myself have had a joint Flex account with the Nationwide for over 20 years and now want to open individual accounts with debit cards for personal spending - in addition to the flex account.... with a lump sum of around £5000 each to start with - would this be a "current account" ?

a smallish (say £100 per month) can be paid into each account.

So what is the best bank to use ?

If possible interest may be preferable but not necessary

Surely the easiest option would just be to each open sole flex accounts with Nationwide? You're allowed to hold sole accounts in addition to your joint one.

MouldyOldDough

steven141 said:

Kroo sounds like what you are looking for although beware if withdrawing cash you can only withdraw up to £200 per month for free otherwise they charge for ATM withdrawals above that. You also can't put in cash at the post office and they dont have any branches. Otherwise they are pretty decent and have savings pots as well.

Thanks - yes I just found Kroo and was going to ask whether it was any good ?

Does anyone have an account with Kroo ?

They offer a straight 3.4% with debit card current account

I assume that there are no restrictions on using the card ??

GreenScepter

Kroo also offer spending insights which you may find helpful. There's a few categories but no custom options from what I can see. Not the most advanced in the world but better than nowt.

For using the card there's a £100 single tap limit for contactless payments and a £300 multiple tap limit before the PIN is required (see below). It seems like it can't be changed. I know with Monzo for instance you can set custom card limits if that's something you want. If you use Google/Apple pay these limits won't apply.

Kroo is also relatively new. I signed up earlier this year and got a first edition card. So something to bear in mind if you prefer a more established brand.

MouldyOldDough

GreenScepter said:

Kroo also offer spending insights which you may find helpful. There's a few categories but no custom options from what I can see. Not the most advanced in the world but better than nowt.

For using the card there's a £100 single tap limit for contactless payments and a £300 multiple tap limit before the PIN is required (see below). It seems like it can't be changed. I know with Monzo for instance you can set custom card limits if that's something you want. If you use Google/Apple pay these limits won't apply.

Kroo is also relatively new. I signed up earlier this year and got a first edition card. So something to bear in mind if you prefer a more established brand.

What are customer service like - quick or take a long time to respond ?

MouldyOldDough

PRAISETHESUN said:

MouldyOldDough said:

The wife and myself have had a joint Flex account with the Nationwide for over 20 years and now want to open individual accounts with debit cards for personal spending - in addition to the flex account.... with a lump sum of around £5000 each to start with - would this be a "current account" ?

a smallish (say £100 per month) can be paid into each account.

So what is the best bank to use ?

If possible interest may be preferable but not necessary

Surely the easiest option would just be to each open sole flex accounts with Nationwide? You're allowed to hold sole accounts in addition to your joint one.

No - part of the reason is that should Nationwide ever suffer an outage - we have all of our eggs in one basket - so would be unable to access any funds !

Nasqueron

I use Kroo to dump cash at least if I have filled Santander and Nationwide, they pay interest promptly and app is easy but I have never had to contact customer services

GreenScepter

MouldyOldDough said:

GreenScepter said:

Kroo also offer spending insights which you may find helpful. There's a few categories but no custom options from what I can see. Not the most advanced in the world but better than nowt.

For using the card there's a £100 single tap limit for contactless payments and a £300 multiple tap limit before the PIN is required (see below). It seems like it can't be changed. I know with Monzo for instance you can set custom card limits if that's something you want. If you use Google/Apple pay these limits won't apply.

Kroo is also relatively new. I signed up earlier this year and got a first edition card. So something to bear in mind if you prefer a more established brand.

What are customer service like - quick or take a long time to respond ?

Don't know I'm afraid, never used their customer services. I should add this isn't my main account so I can't rate them on regular day to day stuff, I can see the app and whats on the app though.

You may like to know you can view your card details in the app with Kroo. Quite a few banks offer this now, but not all.

Olenna

MouldyOldDough said:

PRAISETHESUN said:

MouldyOldDough said:

The wife and myself have had a joint Flex account with the Nationwide for over 20 years and now want to open individual accounts with debit cards for personal spending - in addition to the flex account.... with a lump sum of around £5000 each to start with - would this be a "current account" ?

a smallish (say £100 per month) can be paid into each account.

So what is the best bank to use ?

If possible interest may be preferable but not necessary

Surely the easiest option would just be to each open sole flex accounts with Nationwide? You're allowed to hold sole accounts in addition to your joint one.

No - part of the reason is that should Nationwide ever suffer an outage - we have all of our eggs in one basket - so would be unable to access any funds !

A non-Nationwide credit card would sort that.

You could convert your existing joint account to a FlexDirect / FlexPlus then open a new FlexAccount each . This would have the advantage that your sole and joint account cards would be a different colour..

MouldyOldDough

Olenna said:

MouldyOldDough said:

PRAISETHESUN said:

MouldyOldDough said:

The wife and myself have had a joint Flex account with the Nationwide for over 20 years and now want to open individual accounts with debit cards for personal spending - in addition to the flex account.... with a lump sum of around £5000 each to start with - would this be a "current account" ?

a smallish (say £100 per month) can be paid into each account.

So what is the best bank to use ?

If possible interest may be preferable but not necessary

Surely the easiest option would just be to each open sole flex accounts with Nationwide? You're allowed to hold sole accounts in addition to your joint one.

No - part of the reason is that should Nationwide ever suffer an outage - we have all of our eggs in one basket - so would be unable to access any funds !

A non-Nationwide credit card would sort that.

You could convert your existing joint account to a FlexDirect / FlexPlus then open a new FlexAccount each . This would have the advantage that your sole and joint account cards would be a different colour..

We want to get a separate account (s) from Nationwide - in case Nationwide ever have a problem - like a few banks have had recently - and prevented from accessing any funds

And NO credit cards - thanks

MouldyOldDough

I am also unsure as to the longevity of some of these new banks

I realise that I have fscs protection of my savings - but would prefer not to have to use this - if the bank has problems etc