Anyone recommend a decent bank?

[al1991]

I'm going to become a student in September and I'm using my current bank (Natwest) for my student account and for the wages from my part time job to be dumped into.

However, I want to open a standard current account (with a different bank) to put money aside in and use to help me monitor money coming in and going out. An overdraft is not a massive part of the appeal for me as I'll be getting a decent deal with Natwest.

The main criteria are;

1) Ok interest rate
2) Decent online banking system (the Natwest one is st and I never use it)
3) Good help available on the phone when I need it

Thanks.

[Anthony Micallef]

I'm with the Halifax and I have found their on line banking to be fairly straight forward although I dont know what you want to get out of this service specifically. Im not sure of their interest rates but I guess you can just look on line for those.

The main plus point for me is that they seem to be very helpful when you speak to them on the phone. This may be useful for you being a student if you ever need some financial leeway say to extend an overdraft. I was with the Alliance & Leicester for a while as they had a good interest rate on their current accounts but they were not interested in helping you should get in to any sort of difficulty.

Thats just my two penneth worth and Im sure someone will come along in min to say how crap the Halifax are

[soprano]

First Direct.

[adycav]

soprano said:

First Direct.

But they will charge you for a current account unless you have another product (e.g. savings, mortgage), or pay in a minimum student-unfriendly amount each month (£1500 iirc).

Additionally there is NO (zero) interest paid on the current account. Not a sausage.

[soprano]

adycav said:

soprano said:

First Direct.

But they will charge you for a current account unless you have another product (e.g. savings, mortgage), or pay in a minimum student-unfriendly amount each month (£1500 iirc).

Additionally there is NO (zero) interest paid on the current account. Not a sausage.

That is true, but it is easy to open a savings account and sweep all money into that. They provide a £250.00 interest free overdraft so there is no need to have any money in the current account earning no interest unless you have large bills coming out, the o/d will cover day to day purchases. So long as you have a savings account there is no charge.

Interest on the savings is currently poor (0.25pc IIRC) as it seems to be everywhere - but as an existing customer I can open an ISA, paying in up to £300.00 per month for one year at 7% AER.

When you phone you get straight through to someone rather than dial 1 for blah blah blah.... and the individuals you get actually known what they are doing and can help you rather than passing you around a million and one departments. Internet banking with them is simple and user friendly.

Apart from interest rates (which are not very good anywhere right now) it ticks all the OP's boxes.

[adycav]

I wasn't meaning to be critical of FD - I bank with them myself and would highly recommend them.

OP follow the advice from Soprano above and use them, they are very good.

[Anthony Micallef]

I had problems with FD when I tried to close my current account. They were very unhelpful and I wouldn't use them again or recommend them to anyone.

[Pferdestarke]

HSBC's internet banking service is good, as is their phone banking.

First Direct are part of the same group and have 24hr, 365 day service.

Edited by Pferdestarke on Friday 31st July 23:08

[Anthony Micallef]

I had problems with FD when I tried to close my current account. They were very unhelpful and I wouldn't use them again or recommend them to anyone.

[al1991]

Thanks I will have a look into the banks which have been suggested.

[Wings]

I have been banking with First Direct for over 14 years, never had any charges or problems with them. They are available 24/7 365 days of the year. Several years ago I was at a car auction, wanted to buy/bid for a Porsche Boxster, over the telephone FD increased my overdraft by £15k, with the provision there would be no charges if cleared within 24 hours, which it was.

Having used many differing banks, Nat West, Halifax, HSBC etc. etc. First Direct is by far the TOPS.

[Alfa_75_Steve]

I've been with Lloyds TSB for around 18 years now and can't fault them.

However, banks appear to be a very personal thing - one person's opinion of a good bank often differs from someone else's opinion.

[Defcon5]

Im with lloyds, I think their internet banking is brilliant. The only down side is they are always offering me loans, both via post and when I go in branch. The gf is with Barcalys, and their online banking is horrific