Author Topic: Banking (Read 821 times)

AndyMuller · « **on:** June 15, 2022, 03:54:33 pm »

I can't find a thread for banking so I thought I'd start one with a simple question, which bank/banks do you currently have an account with?

I've been with Halifax since I was a child but I'm now thinking of switching to First Direct after doing some research about the best banks of 2022 (and you get a £150 switching bonus). I am open to hearing other peoples recommendations or problems with First Direct etc.

CraigDS · « **Reply #1 on:** June 15, 2022, 04:15:40 pm »

Natwest and Monzo.

I had major issues with the former (after being with them for 20yrs) which is why I ended up joining the latter, mainly to just try them out to see how they were. They've ended up being amazing and they are now my main bank account that I use (I use their Premium level, get a fancy metal card).

I still keep my Natwest account with some money in just in case but rarely use it.

Elmo! · « **Reply #2 on:** June 15, 2022, 04:20:44 pm »

Been with Chase for a couple of months now.

You get 1.5% on their savings account which is pretty much best on the market for instant access. You also get 1% cashback on spending on your card (not including Direct Debits). You also get 5% on round ups if you enable it, where it rounds up all your transactions to nearest pound and puts it into a pot where you earn the interest.

Downside is it is mobile app only and no branches so no method of depositing cash. Also apparently the waiting list is now about 5 or 6 weeks - they are new to the UK market and people are flooding to them becasue of the interest rates they offer.

west_london_red · « **Reply #3 on:** June 15, 2022, 04:24:42 pm »

I have accounts with just about every bank to be honest for different purpose but would recommend opening a Chase account. I have had mine for about a month, good interest rate, 1% cash back for a year, no fees to use your card abroad. As Elmo says there’s no branches which can be a pain to deposit cash, but how often do people deposit cash these days?

rob1966 · « **Reply #4 on:** June 15, 2022, 05:10:03 pm »

Been with Natwest since I was 17, always been good enough for me.

Mate of mine banks with Coutts, fucking different ballpark to the rest of us

I've been a good boy · « **Reply #5 on:** June 15, 2022, 06:37:36 pm »

Currently with HSBC as they had a good £175 switch offer recently. They're quit good, their chat function on the app is really useful and saves me having to phone up.

CraigDS · « **Reply #6 on:** June 15, 2022, 06:52:07 pm »

Quote from: I've been a good boy. on June 15, 2022, 06:37:36 pm

Currently with HSBC as they had a good £175 switch offer recently. They're quit good, their chat function on the app is really useful and saves me having to phone up.

HSBC at c*nts of the highest order. Utter utter scummy bank.

filopastry · « **Reply #7 on:** June 15, 2022, 10:41:05 pm »

Been with First Direct for about 25 years and never had an issue with them in all honesty.

I also have Chase as a secondary current account, which is great for the reasons others have highlighted, although that rate may not look quite as amazing as base rates carry on their inevitable rise over the coming months

PeterJM · « **Reply #8 on:** June 15, 2022, 10:58:26 pm »

HSBC and i can confirm that they are an utter scummy bank.I've got the majority of my money with them and they still knocked me back for a mortgage even though they could see all my incomings and outgoings which showed i was a risk free borrower.

I also have an account with Halifax as a back up.

spen71 · « **Reply #9 on:** June 16, 2022, 03:07:44 am »

I’m with starling. Got it for the free business account, can pay cash in at the post office for a small fee. Much cheaper than the main banks.

ToneLa · « **Reply #10 on:** June 16, 2022, 08:40:38 am »

Natwest though I was with them when I was on the dole.

Horrible. If I went a quid over the specified limit I'd get emails at 3am saying YOU MUST TRANSFER FUNDS TOMORROW. Rang em up loads of times, no pity, no sympathy for the situation. I'm talking literal single digits too. You ain't helping. Sorry I needed to buy bread.

Really ought to abandon them now I'm in a new career. Banks though. How good could they even get?

AndyMuller · « **Reply #11 on:** June 16, 2022, 09:06:57 am »

First Direct seems to be the best one based on surveys and a quick google. Think I will switch to them and have a Chase account for when I go to the States.

.adam · « **Reply #12 on:** June 16, 2022, 09:20:56 am »

Monzo. Mainly for the excellent app and low costs of using when abroad.

-Willo- · « **Reply #13 on:** June 16, 2022, 09:21:40 am »

I am with Monzo but for my business, I have the premium but to be honest don't see the benefit to it, just wasting £20 a month, I should cancel it really.

Graeme · « **Reply #14 on:** June 16, 2022, 09:24:28 am »

I was with Monzo until about 18 months ago. Had some cool features in their early days but the high street has mostly caught up. Their appetite for lending is also poor, wouldn't give me an overdraft. I moved to Halifax about 18 months ago when I took out a mortgage as if you have both products with them you go into a monthly prize draw to pay the mortgage off. Halifax gave me a £1,000 overdraft and £7,500 credit card on opening. I've never used the overdraft but its always handy to have the safety net.

Red-Soldier · « **Reply #15 on:** June 16, 2022, 10:36:41 am »

Quote from: CraigDS on June 15, 2022, 06:52:07 pm

HSBC at c*nts of the highest order. Utter utter scummy bank.

Yep. HSBC and Barclays are the two most scummiest banks in the UK.

Red-Soldier · « **Reply #16 on:** June 16, 2022, 10:38:29 am »

Quote from: AndyMuller on June 16, 2022, 09:06:57 am

First Direct seems to be the best one based on surveys and a quick google. Think I will switch to them and have a Chase account for when I go to the States.

First Direct have always been rated highly by Martin Lewis and have always given good switching cashback.

Chase are also another one he rates.

ToneLa · « **Reply #17 on:** June 16, 2022, 12:15:20 pm »

Chase won't work on my imported Chinese phone

Good, good

stewil007 · « **Reply #18 on:** June 16, 2022, 02:01:16 pm »

I'm with Santander for my 'grown up' day to day banking, get the cash back on utility bills etc worth upto £15 a month - but a pretty standard affair really and never had any problems with them.

I also have a Starling account which i use for Matched Betting - just a way to keep all my day to day stuff separate from this. Saying that, cant fault the account, easy to use and all online

-Willo- · « **Reply #19 on:** June 16, 2022, 03:04:06 pm »

Quote from: stewil007 on June 16, 2022, 02:01:16 pm

I'm with Santander for my 'grown up' day to day banking, get the cash back on utility bills etc worth upto £15 a month - but a pretty standard affair really and never had any problems with them.

I also have a Starling account which i use for Matched Betting - just a way to keep all my day to day stuff separate from this. Saying that, cant fault the account, easy to use and all online

How do you get the cash back?

stewil007 · « **Reply #20 on:** June 16, 2022, 03:50:31 pm »

Quote from: -Willo- on June 16, 2022, 03:04:06 pm

How do you get the cash back?

its done automatically, you get either 1%/2% or 3% depending on the bills that come out of your account. You can get up to £5 per band, although there is a £4 account fee, which offsets it s a bit.

It goes against all the household bills and stuff like mobile/sky/broadband/council tax too.