how to know what current account to get

Brie

OK so here's the problem.  I've got a VirginOne flexi mortgage account which is essentially a current account with a massive overdraft.  This has worked very nicely for me since it was opened over 20 years back and I've no good reason to shut it down.   Except that V1 which is an RBS based account has had their online presence shifted to NatWest.  

Now the V1 system while occasionally glitchy had a nice customer service message service and other things I liked.  2 of the main things were there was a way to set up expected transactions - so I could track my various incoming payments - and there was a monthly overview - so I could see opening total, money in and out, current balance and then expected money in and out and a predicted month end balance.  This all was very helpful with me managing our money, knowing when I might need to transfer in or out. 

The NatWest system has none of this just current balance and a list of transactions that have happened.  And yes I could build a spreadsheet that would help me simulate the V1 system but I'd rather not have to. 

So the question is - is there a current account somewhere, with some bank, that will give me the monthly overview along with the expected transactions that the V1 account had?  I've looked at what's on offer by a couple of banks and all they talk about is switch bonuses, interest rates and things that are of little interest to me.  What I want is to see what a statement looks like or the online system.  I'm not interested in apps on my phone just what I would see on my pc.  

(I am guessing that the V1 system shut down is due to the decreasing number of clients and the cost of maintaining a separate system.  I understand why NatWest would do this but it's a shame they are moving on to a similar platform.)

Emmia

HSBC offers something called "Balance Forecast" which shows your expected payments for the rest of the month and the projected balance at the end of the month.

Payments can also be adjusted - for example your actual credit card bill rather than an estimate based on last month etc. and the forecast then updates.

I see this on the app - I'm not sure whether the website does it too.

NikaFrame

Brie said:

OK so here's the problem.  I've got a VirginOne flexi mortgage account which is essentially a current account with a massive overdraft.  This has worked very nicely for me since it was opened over 20 years back and I've no good reason to shut it down.   Except that V1 which is an RBS based account has had their online presence shifted to NatWest.  

Now the V1 system while occasionally glitchy had a nice customer service message service and other things I liked.  2 of the main things were there was a way to set up expected transactions - so I could track my various incoming payments - and there was a monthly overview - so I could see opening total, money in and out, current balance and then expected money in and out and a predicted month end balance.  This all was very helpful with me managing our money, knowing when I might need to transfer in or out. 

The NatWest system has none of this just current balance and a list of transactions that have happened.  And yes I could build a spreadsheet that would help me simulate the V1 system but I'd rather not have to. 

So the question is - is there a current account somewhere, with some bank, that will give me the monthly overview along with the expected transactions that the V1 account had?  I've looked at what's on offer by a couple of banks and all they talk about is switch bonuses, interest rates and things that are of little interest to me.  What I want is to see what a statement looks like or the online system.  I'm not interested in apps on my phone just what I would see on my pc.  

(I am guessing that the V1 system shut down is due to the decreasing number of clients and the cost of maintaining a separate system.  I understand why NatWest would do this but it's a shame they are moving on to a similar platform.)

That’s really useful to know about HSBC’s Balance Forecast, thanks for sharing. I’ve been looking for something along those lines too, since most banks seem to focus more on shiny sign-up bonuses rather than practical tools for managing day-to-day cash flow.

From what I’ve seen, a lot of banks are moving those features into mobile apps rather than desktop banking, which is a bit frustrating if you prefer to do everything on a PC. Have you (or anyone else) come across a bank that still offers proper forecasting and monthly overviews through online banking rather than just on the app?

TwiceNightly

Lloyds Bank offer something similar to HSBCs forecast on their website as well as in the app. After a couple of months of regular payments, it shows you the upcoming payments coming out of your account up to a date that you choose (for example, outgoing payments before the end of the month).

It shows them in a timeline too, with the amount next to each one.

Eco_Miser

TwiceNightly said:

Lloyds Bank offer something similar to HSBCs forecast on their website as well as in the app. After a couple of months of regular payments, it shows you the upcoming payments coming out of your account up to a date that you choose (for example, outgoing payments before the end of the month).

It shows them in a timeline too, with the amount next to each one.

As does Halifax. However, if a DD is for an irregular amount, such as clearing the balance on a credit card, that payment just never shows up on the timeline, and the predicted balance is useless. I stopped even looking at the forecast, and relied on my own spreadsheet.

Emmia

Eco_Miser said:

TwiceNightly said:

Lloyds Bank offer something similar to HSBCs forecast on their website as well as in the app. After a couple of months of regular payments, it shows you the upcoming payments coming out of your account up to a date that you choose (for example, outgoing payments before the end of the month).

It shows them in a timeline too, with the amount next to each one.

As does Halifax. However, if a DD is for an irregular amount, such as clearing the balance on a credit card, that payment just never shows up on the timeline, and the predicted balance is useless. I stopped even looking at the forecast, and relied on my own spreadsheet.

With the HSBC forecast you can adjust the payment if it is on the timeline - for example let's say my credit card bill one month was £1000 and the next month it was £250 - I you adjust the amount in the forecast.

The only snag is that if you don't have a credit bill  HSBC doesn't let you put a zero payment into the forecast, so I end up putting a credit card bill for £0.01 in instead.