Best bank to bank with ... more info inside!

Found 27th Jul 2008
I currently have a Barclays account which I use for salary payments to go into . I want to change from this for a few reasons but wanted to know which bank is best to bank with. The reason for this is that I may need to take a mortgage out soon so a good record with the bank should help (?)

I also have a dormant Natwest current account and was thinking of using this.

However, I have heard HSBC offer some good mortgages to so maybe I should bank with them

Any help would be apprecited.

Thanks

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24 Comments

I would go for HSBC any day. If you go for their Plus account, it does charge you a monthly payment but you get lot of benefits when taking mortgage and home insurance and also included travel insurance and free money withdrawals overseas.
Customer care is much better than Natwest, although their call centres are based both in UK and overseas but I never had trouble understanding or explaining to them.
Don't try to switch account online though, I would book appointment and go in person.

natwest are rubbish, charges they give you are stupid

Original Poster

thanks guys.

Any other favorites banks apart from HSBC (and Natwest) ?

i bank with lloyds and i have had no problems although i would imagine that the 4 big banks are all similar. AS for the current acounts that you pay for monthly, make sure you will actually use the benefits that you are paying for and work out if it is actually beneficial as it can work out very costly! If you are looking for a mortgage make sure you search around, do not rely on the 4 main banks!

Go and take a look around [url]www.moneysavingexpert.com[/url] and search HUKD as there has been a few current accounts that will pay you £100 or so to swap to them!

Original Poster

thanks.

I dont really want to swap ... want to keep my barclays and natwest current accounts even if I do move. The £100 or so incentive is nice but I can do without it if it means I can keep my old current account too.

I have both HSBC and Nationwide Accounts, I prefer Nationwide.

Better long term rates, more upfront, no need to pay for a Premium Account to get free overseas withdrawals.;-)

it all depends on what you need to get out of it!? no point in changing if it offers you what you need, i doubt having a hsbc account will make any difference in wether you get a mortgage or not!

Original Poster

choc1969;2613947

Abbey National all the … Abbey National all the way:http://www.abbey.com/csgs/Satellite?c=GSProducto&cid=1127562716386&pagename=Abbey/GSProducto/GS_SubcategoriaP



can you list a few reasons why abbey is your #1 choice , please ?

I also have a Cahoot Account, part of the Abbey Group, I would avoid Abbey like the plague, they thrive on incompetence.

I have a Nationwide account and am pleased to say I've never had any problems with them. I don't use the overdraft, so I have no idea what the rates are for that, but I like the fact that when I go and visit mum in Cyprus, I don't get charged for using my card abroad and the exchange rate is really good with it, they don't rip you off at all. I don't have many requirements, but Nationwide seem to met the few I do have :thumbsup:

Banned

First Direct would be my recommendation. Used them for about 12 years now. There have been a few problems along the way, but each one has been dealt with to my satisfaction. I think that speaks volumes!

Yes it is internet banking, but they are part of HSBC, so you have the best of both worlds.

Plus you can speak to someone quickly and easily - and they use UK based staff. Another bonus IMHO.

They often have offers on when you transfer banks too.... Probably between £50 and £100 for free. Havent go any links for that (may just have been a promo), but know they do have a referral scheme where both parties benefit.

Original Poster

thanks guys ... nationwide and first direct I completely forgot about.

i must say, so far ... i am leaning towards nationwide as i remember others have said good things about it too

We have accounts with Barclays, Abbey, Nationwide, Natwest, Llyods and HSBC, to be honest they'll all as bad as each other in one way or another. Its swings and roundabouts really.

I was with abbey but was disgusted with their service, and Im sick off ringing up and speak to someone in another country when they have no idea about my account.

I recently changed to coop and have been very impressed so far with their service

halifax have been good for me fot the last few yrs

don't go to Bank of Scotland, ever

Original Poster

Halifax ! How could I forget them ... another close contendor

for me its now nationwide, hsbc or halifax

Banned

Cyrus;2614427

Halifax ! How could I forget them ... another close contendorfor me its … Halifax ! How could I forget them ... another close contendorfor me its now nationwide, hsbc or halifax



Dunno how HSBC crept in?

Cant comment on Nationwide (though do have one of their CCs) or Halifax, but it might be useful to put in a google search for your question.

Original Poster

guv;2614442

Dunno how HSBC crept in?Cant comment on Nationwide (though do have one of … Dunno how HSBC crept in?Cant comment on Nationwide (though do have one of their CCs) or Halifax, but it might be useful to put in a google search for your question.



ive heard good things about hsbc outside of this conversation, and there were no negatives for hsbc in this conversation anyway.

Banned

Choose any bank outside of the big 4 as they consistently offer the worst customer service and have the highest fees.

Go for Smile or co-op. Always in the top 5 of every satisfaction chart whereas the big boys are always near the bottom

Abbey national is the lowest of the low.

Original Poster

csiman;2614676

Choose any bank outside of the big 4 as they consistently offer the worst … Choose any bank outside of the big 4 as they consistently offer the worst customer service and have the highest fees.Go for Smile or co-op. Always in the top 5 of every satisfaction chart whereas the big boys are always near the bottomAbbey national is the lowest of the low.



interesting ... do you have a top 10 list somewhere ?

Banned

Cyrus;2615633

interesting ... do you have a top 10 list somewhere ?


Loads found on google. Smile & co-op only invest in ethical business unlike barclays etc which even now still funds the mugabe regime in zimbabwe etc.

finextra.com/ful…264

First Direct - I've just gone back to them. You can always talk to someone in the UK and they are very helpful with any problem that pops up be it of their making or mine.

Also, when compared with A&L which I did have, their online balance display is bang up to date throughout the day. A&L used to give me 3 possible online balances and I could phone up and get a fourth different one. A&L never saw this as a problem!!

Alternatively, as others have said, go to moneysavingexpert and read their articles about best banks which tend to be based upon financial reasons.

I also have a Nationwide for international travel cash withdrawels.
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