Switching Bank Best option.

russellsnr

Hi, so after 50+ years as a Clydesdale bank customer we have been switched to Virgin money some time ago and now going to be part of Nationwide that will apparently mean more emails to the inbox anyway we are looking to switch away from Clydesdale/Virgin Money, do not need a mortgage, no lending required etc., etc. just somewhere for monies to go in and DD, Gas, Electric etc. to be paid out, there just seems so many options from what I read on here with a lot that want a payment monthly for this type or that type of account, lastly want to able to access account to check balance, money in etc. on my phone and online without jumping through hoops to log on to it. Sorry for a long post. Thankyou, Russ.

Ayr_Rage

NW don't send excessive amounts of emails, don't know why you would think that and they have both app and online access.

Time to fire up Google and search "best free bank accounts"

wmb194

https://forums.moneysavingexpert.com/discussion/6665646/switching-bank-best-option

Lloyds is my favourite. Nice browser and app internet banking.

It has a no nonsense free account - Classic - but its Club and Premier accounts have some nice benefits and their terms are way to meet.

Also, for Club and Premier, Lloyds has a good switching offer on:

https://www.lloydsbank.com/current-accounts/switch.html

friolento

Most current accounts are much of a muchness. From time to time, some of them are offering incentives to switch to them. It comes down to personal like/dislike.Full list: https://moneyfactscompare.co.uk/current-accounts/

flaneurs_lobster

Unless there's something that you particularly dislike about Virgin Money's current account then I'd stick with it.

At some point it will change to a Nationwide current account. Again, give it a go and if it's not to your liking then look around for an alternative.

eskbanker

do not need a mortgage, no lending required etc., etc. just somewhere for monies to go in and DD, Gas, Electric etc. to be paid out, there just seems so many options from what I read on here with a lot that want a payment monthly for this type or that type of account, lastly want to able to access account to check balance, money in etc. on my phone and online without jumping through hoops to log on to it

The majority of current accounts don't require monthly payments - the exceptions are a few packaged accounts, with a fixed monthly fee in return for insurance products, and some where a minimum monthly funding is needed specifically in order to earn interest or to qualify for a switching incentive.

Your stated requirements will be met by pretty much all other accounts.

lr1277

I am not entirely sure all banking brands are pretty much the same. I suspect it is those rarer type transactions where there will be differences or there maybe difficulties.

As you were with Clydesdale, does that mean you live in Scotland?

Is there a branch of you chosen bank near you? That may not matter but for example:

Nationwide don't have a tie up with the Post Office should you wish to deposit cash and there is no Nationwide near you. At least they don't have an association in England, not sure about Scotland.

If you are in Scotland, there are some differences with access to branches in Scotland than in England. You need to find out these differences.

I like First Direct because everything can be because it has to be done over the phone. In many/most cases you can also do things in the app. In terms of app access, once setup, you enter a 6 digit code. However FD's app does offer FaceID which I have not setup even though I use FaceID to access my phone. FD (and I think HSBC) have a key mechanism which can either be on your phone or one of those number generator gadgets. As I chose my phone to host my key, I also need my phone to generate a code should I wish to login into FD on a computer or send transfer money to a new payee which I am setting up on my computer.

Edited to add: One thing I have looked at is Faster payments and the limits imposed by each bank. If you wish to make a transfer that is larger than your bank's faster payment limit, some banks expect you to attend a branch (depending on your account type) to make such a transfer. For example if your are buying a house or some other high value purchase.

flaneurs_lobster

If you are in Scotland, there are some differences with access to branches in Scotland than in England. You need to find out these differences.

Really? Maybe 1 bank holiday a year not common to both countries, or have I missed something?

That description of operating a First Direct account would scare me off.

lr1277

https://forums.moneysavingexpert.com/discussion/comment/81976912#Comment_81976912

As I don't live in Scotland I have read about these differences and maybe reproducing them incorrectly due to hazy recollection but:

I am not sure how many HSBC branches there are in Scotland which is where the Post office tie up becomes important.

Or the OP could use a banking hub if there is one nearby and the chosen bank is supported. My local banking hub does not offer a Nationwide representative, perhaps because there is a Nationwide branch in the next town over.

Like I said requires further investigation.

born_again

https://forums.moneysavingexpert.com/discussion/6665646/switching-bank-best-option

Switched to Nationwide last year. No more emails than any other bank. As a virgin customer you will get more at the moment as they explain what is going on (daughter does)

TBH, nationwide app is as good as any others, they all have their own little quirks that you get used too.

Rob5342

What is it that you don't like and want to change? Nationwide are very old fashioned and their app is like something out of the stone age but some people seem happy with their archaic approach.

I always recommend Monzo and Starling when this question comes up. They are nice modern banks that put money into developing good apps instead of wasting it on branches that nobody uses.