What is a Good bank these days?

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What is a Good bank these days?
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foggy

Joined: 21 Feb 2012
Posts: 343
Location: Devon

Posted: Tue Jul 03, 12 8:04 am Post subject:
Marks & Sparks are starting a bank...

sgt.colon

Joined: 27 Jul 2009
Posts: 7380
Location: Just south of north.

Posted: Tue Jul 03, 12 8:34 am Post subject:
We're with the Co-Op and we like them. There are plenty of branches around. Remember they bought Britannia and they also have banks in some of their stores.

NorthernMonkeyGirl

Joined: 10 Apr 2011
Posts: 4587
Location: Peeping over your shoulder

Posted: Tue Jul 03, 12 8:48 am Post subject:
I keep wondering about switching to Nationwide (not sure what the "functional" difference between a bank and a building society is?)... if only I didn't still use my overdraft

sgt.colon

Joined: 27 Jul 2009
Posts: 7380
Location: Just south of north.

Posted: Tue Jul 03, 12 8:54 am Post subject:
NMG, as far as I know, Nationwide isn't owned by shareholders and therefore they are not driven by generating profits for someone else. They do it for their customers.

Hairyloon

Joined: 20 Nov 2008
Posts: 15425
Location: Today I are mostly being in Yorkshire.

Posted: Tue Jul 03, 12 8:56 am Post subject:

Nick wrote:

The coop does have issues, for sure, but mwhat do you want a branch for? Not a loaded question, I've some accounts with them, and you can use the post office for most things.

I don't see a great need for a branch either, but it is not worth me arguing with her about it, and I'm told that all the Post Offices in the area always have horrendous queues...

Treacodactyl
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 25795
Location: Jumping on the bandwagon of opportunism

Posted: Tue Jul 03, 12 1:00 pm Post subject:

Hairyloon wrote:

Nick wrote:

The coop does have issues, for sure, but mwhat do you want a branch for? Not a loaded question, I've some accounts with them, and you can use the post office for most things.

I don't see a great need for a branch either, but it is not worth me arguing with her about it, and I'm told that all the Post Offices in the area always have horrendous queues...

Smile, the co-ops internet branch, allow you to pay in via post as well as a Post Office. See here.

Personally I wouldn't class then as ethical as they've behaved in a similar way to other banks, i.e. offer a high interest rate to get people to open accounts then slash the interest rate when they've reached a certain size.

Marionb

Joined: 27 Aug 2006
Posts: 5267
Location: Mid-Wales

Posted: Tue Jul 03, 12 2:08 pm Post subject:
The only time I go into the bank is to pay a bill with cash, or to pay cheques in.

Rob R

Joined: 28 Oct 2004
Posts: 31902
Location: York

Posted: Tue Jul 03, 12 2:15 pm Post subject:

Jamanda wrote:

Why do you need a branch?

To pay cheques in, mostly, or to speak to someone who speaks English as a first language.

bulworthy project

Joined: 27 Jun 2011
Posts: 188
Location: Rackenford, Devon

Posted: Tue Jul 03, 12 4:40 pm Post subject:
We use the co-op as the most important part of the answer to "What is a good bank?" to us is one that will not invest our money in something that we find morally repugnant. Occasionally the lack of branches has caused us issues in the past, but we mainly bank online, post our cheques to them or pay them in at the post office and would have to drive to a bank whichever one we used.

oldish chris

Joined: 14 Jun 2006
Posts: 4148
Location: Comfortably Wet Southport

Posted: Tue Jul 03, 12 4:59 pm Post subject:

When working for a major financial services company, it became obvious to me that the retail banking system is funded by the financially compromised/incompetent. You have only to look at the bank charges to see that this is the case. Manage your accounts carefully and you'll be alright.

Regarding quality of service, it seems to be down to human failure - its a matter of chance, and the probability of a cock-up seems to be the same for all banks.

The only problem regarding branches seems to be things like paying in cheques or cash (I'm ready to be corrected).

T.G

Joined: 13 Sep 2009
Posts: 7280
Location: Somewhere you're not

Posted: Tue Jul 03, 12 5:17 pm Post subject:

I've often thought about opening an account with the co-op, their business banking bit seems OK, but we don't have any local post offices which would limit the paying in malarky besides I don't like the idea of posting cheques to them ...don't know why.. so haven't yet done it.

ING - I've been trying to open a savings account with them now since Christmas. I get all the gubbings and the money is transferred then a few days later they write to me wanting all my ID stuff again, I ring up sort it then get a I get a statement and then they write telling me they've closed my account because I didn't send in the ID .. Which the phone call previously confirms I have..It's a merry-go-round I've since stopped playing on.

As for the HSBC - bunch of useless inbred morons, bereft of any sense common or otherwise they make Forest Gump look like Einstein, if I had a hit list they'd be the reason for it.

Rob R

Joined: 28 Oct 2004
Posts: 31902
Location: York

Posted: Tue Jul 03, 12 6:23 pm Post subject:

T.G wrote:

As for the HSBC - bunch of useless inbred morons, bereft of any sense common or otherwise they make Forest Gump look like Einstein, if I had a hit list they'd be the reason for it.

Conversely, I've had the direct opposite experience.

I never post cheques to banks though - I like to know they get there & are paid in.

Ren

Joined: 27 Jan 2009
Posts: 1782
Location: southwesterly

Posted: Tue Jul 03, 12 6:31 pm Post subject:

I could be wrong but the co-op were a mutual but since the 'merger' with britannia, I don't think they are classed as such, they are a weird one.

All mutual are run for the benefit of the customers and don't have shareholders driving them. My knowledge is a little dated, but this also means that mutual need to have a larger proportion of funding from 'secure methods, rather than dodgy overseas funds that are likely to go belly up. (Note: this is not an official economic statement.)

Yorkshire building society are good, they have quite good coverage especially in the yorkshire area and certainly used to alow you to deposit cheques etc with britannia. Although they don't do business banking.

As they are merged with bradford &bingley??? And chelsea bs, they may also allow deposits etc at their branches, Without further research, I couldn't confirm.

Nick

Joined: 02 Nov 2004
Posts: 34535
Location: Hereford

Posted: Tue Jul 03, 12 6:57 pm Post subject:
Pretty sure Bradford and bingley are Santander now.

Ren

Joined: 27 Jan 2009
Posts: 1782
Location: southwesterly

Posted: Wed Jul 04, 12 11:59 am Post subject:

Nick wrote:

Pretty sure Bradford and bingley are Santander now.

That's right.
I always got mixed up, I meant Barnsley Building Society!. Similar,

they are all local yorkshire BS's

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