Recommend a decent premier/private bank?

rathernot

As subject I guess, I'm cheesed off with automation and talking to a computer or a call centre (I appreciate they're all call centres but you know what I mean) and continuously being sold to when calling.

Whilst I'm not loaded I'm always in credit and could afford to keep a decent minimum in a current account if the account itself was free (I appreciate technically you pay by foregoing interest on the minimum balance but it's a psychological thing I guess) and the service was decent.

I don't want to do anything demanding, just the usual internet banking, dd's and a visa debit card, I'm not fussed about "lifestyle" services.

I've had a quick look around at the usual "premier" accounts and I came across Cater Allen who look "interesting", but most references I can find are from people who use them for business banking.

Appreciate any thoughts/comments.

CLAPTON

why not simply use internet banking... I can't remember when I last actually had to speak anyone in a bank.

skyrider007

HSBC Premier is quite good

http://www.hsbcpremier.com

Minimum £50,000 balance for free banking

LLoyds TSB and Barclays have similar "premier" schemes.

If you have over £1 million net worth then go for Coutts, UBS or Credit Suisse.

rathernot

skyrider007 - I wish Don't get me wrong I don't expect to be on first name terms with "my man at the bank" or anything too grandiose, I'm just wondering if you can get decent service by thinking a little further than the names on the high street.

clapton - in many ways i agree, perhaps it's a bit of a knee jerk but having popped into my branch today for the first time in ages it annoyed me how all i wanted to do was pay in a cheque and get them to tick the "don't send me marketing" box on their computer screen, but ended up being asked twice if I'd like a "long overdue account review" as well as the obligatory "some of our marketing material is really useful, are you sure" speech.. like I said knee jerk but it riled me.

Kavanne

skyrider007 wrote: »

HSBC Premier is quite good

http://www.hsbcpremier.com

Minimum £60,000 balance for free banking

LLoyds TSB and Barclays have similar "premier" schemes.

If you have over £1 million net worth then go for Coutts, UBS or Credit Suisse.

I thought it was £500000 in liquid assets for Coutts?

gt94sss2

skyrider007 wrote: »

HSBC Premier is quite good

http://www.hsbcpremier.com

Minimum £60,000 balance for free banking

I think its £50,000 if you are in the UK.(60k for offshore perhaps?)

Having said that the advantages of such an account are:

- no fees
- the £50k can be savings or investments (i.e. shareholding in ISAs)

I think the 'Premier' accounts with the other big banks usually have a monthly fee attached.

I only have a standard HSBC account but unlike some other banks they have never tried to sell me anything at a branch counter..

rathernot - if you don't want to try HSBC, then I suggest you look at First Direct.. if you call them it is a UK call centre but there is a reason they come highly recommended.

Regards
Sunil

Rafter

rathernot,

I'd echo Sunils recommendation.

First Direct has great service levels, no account charges unless you want extras, a reasonable rate of interest - even better if you move your mortgage to them and offset.

You can still use HSBC branches, the staff are there 24 hours a day 365 days a year and always in the UK.

Unless you have huge sums and want access to money markets, large currency transfers, swaps, hedges and other exotica, I really don't see then benefit of a private bank unless you want the status symbol of the cheque book.

R.

rathernot

The thing that put me off about First Direct was that they only seem to offer a Maestro debit card, and as I understand it they're not too widely accepted outside of the UK (I'd sooner not have the hassle of a separate card).

moor426

HSBC are planning a move to Visa apparently

skyrider007

Kavanne wrote: »

I thought it was £500000 in liquid assets for Coutts?

Maybe you are right about Coutts, but other Private Banks (Swiss ones) normally require around £1 million in relationship balance. A minimum of US$1.5 million is certainly the case for UBS Private Bank or they will charge a crazy amount of something like £100 a month for service. I know this because someone I know bank with UBS (Singapore-based account). You get a personal account manager with those big boy private banks and they actually come to see you at your house or office (like Provident do ).

BenL

I used to work for Cater Allen, part of the Abbey/Santander group now.

The call centre is in Sheffiled (or was when i worked for the company) and they are overstaffed for the amount of calls they take as they have strict service guidelines to adhere to. The calls had to be answered very quickly.

The back office was in Bradford in the main abbey house building attached to the interchange and again things ran a lot smoother in here than the abbey admin stuff a few desks away.

We used to have a little corner on floor 2.

I was happy working there and the customers were happy with the service they got.

CAPB also has specialist teams for lottery winners etc as they are in the pack you get when you win the biggy so the service is good.

You do not need a massive amount of money either to join.

The VISA card with the account was quite good as well, deferred debit so everything you spent on the card was only taken at the end of the month so acting a little like a credit card - your available interest acruing balance stays high all month then all taken in one go.