Ethical banking?

shinjukumaster

I just joined the forum after following up MSE advice on reclaiming bank/CC charges. Have also switched enery supplier, phone/BB supplier, and requested a water meter.

Looking through the recommended deals for bank accounts and credit cards, I cannot see any reference to ethical banks/card issuers... though I am aware of one, I think, The Co-Operative Bank. Does anyone have experience with them?

It seems much of the issues arise due to non-ethical practices, and its great to be able to challenge them. But are there any other options which would not necessitate having to take these actions, or spend so much time getting one's own money back?

margaretclare

My current account is with Smile, the online part of the Co-op Bank. I'm happy with them.

HTH

Margaret

topher_2

I'm also with Smile - good customer service and only one minor mess-up that they appologised for and sorted. Only disadvantage is the online banking is missing a few things like downloadable statements.

htjo

I also have Smile/Co-op accounts and they are fine providing you are in credit.

One bug bear regarding my smile account - when u use the cash machine it always adds your overdraft as being available funds, might just be me that gets annoyed with this, don't know.

HTJO

jamesd

The Co-Operative Bank talks about being ethical but unfortunately they have done things like declining finance or facilities to companies in the nuclear industry. Even so, they may be the least bad choice around if you can accept that poor environmental position.

NumboJumbo

How about:

Ecology Building Society
Shared Interest Society
Triodos Bank
Charity Bank
Catholic Building Society

Mike

Ishtar

I'm with Smile and very happy with them. One small problem with my debit card last October, which was sorted out with no problem (their error not mine!).

D.

kittiej

Well I have to differ unfortunately.

I have been with Cooperative for seven years and i can't wait to close my account for good. Apparently I cannot close my account until I have paid my bank loan off (next April and can't wait!)

I had to fight to get a visa delta card even though I had £20k in my account, they couldn't offer me a mortgage, they charge me a monthly fee for paying by debit card, and if you ever go overdrawn on your account without their permission then they charge you automatically, and if you have items unpaid they charge £35 for this and then charge you again at the end of the month.

If you then phone their call centre to ask about these charges some of the staff have been very indignant.

I would avoid like the plague.

I also bank with the Halifax who do not charge me an account fee, gave me a £3000 overdraft facility and if you did happen to go overdrawn they at least send you a letter giving you a specific date of when they will take the money from your account.

Neither are they evil to you when you phone them up.

Sorry, just the other side of the coin

DUKE

I've been with the Co-op for 20+ years and have never had any problems with them - they even have a water drinking machine in there

Fedz

I agree 101% with comments/opinions of forum member kittiej in post #8.

My The Co-operative bank 'pet hate' is they don't reflect pending/reserved outgoing debit card transactions in your online/telephone banking balance and or available balance.

To get a true balance you either have to wait 24/48/72 hrs for it to reflect and or appear (online/telephone banking) or goto the cashpoint :rolleyes:

Any charges are effective with immediate effect which can also inflict consequential charges (with immediate effect) which compounds any issues relating to your balance/unauthorised overdrafts because of these charges.

In contrast Halifax reflect pending/reserved debit card transactions almost immediately via online/telephone banking plus obviously cashpoints.

Any charges are given notice in advance eg: a charge for an incident in January doesn't get deducted while end of February - plenty notice