Coutts account
Discussion
I joined Coutts a few months ago, and their service far out performs any other bank I've ever had contact with.
I have a personal banker who is always only a phone call away, when ever needed. Direct line, e-mail and mobile. If they're otherwise engaged, everything diverts to their secretary who, in my experience, can move mountains (in my case, getting hold of a valuation for a property I'm in the process of buying in less than 30 minutes, when my solicitor had tried in vain for two weeks). I haven't had a need to call their help desk (which is UK based), as it's all been done in person.
They granted me a mortgage when my previous bank (who I've been with for 15 years, and never once been overdrawn) wanted to apply unreasonable terms and conditions. I get regular calls to make sure I'm happy with the service, and a visit either at home or at the office whenever needed.
Makes me sound like a fanboy, but they've been a breath of fresh air compared to most others.
I have a personal banker who is always only a phone call away, when ever needed. Direct line, e-mail and mobile. If they're otherwise engaged, everything diverts to their secretary who, in my experience, can move mountains (in my case, getting hold of a valuation for a property I'm in the process of buying in less than 30 minutes, when my solicitor had tried in vain for two weeks). I haven't had a need to call their help desk (which is UK based), as it's all been done in person.
They granted me a mortgage when my previous bank (who I've been with for 15 years, and never once been overdrawn) wanted to apply unreasonable terms and conditions. I get regular calls to make sure I'm happy with the service, and a visit either at home or at the office whenever needed.
Makes me sound like a fanboy, but they've been a breath of fresh air compared to most others.
jinkster said:
What is the internet banking service like? Is it possible to log on with an iPhone/iPad?
Are they pretty strict on the eligibility criteria?
Thanks.
Er, I haven't actually tried with iphone or ipad, but it should work. You just log in with a SecurId tag.Are they pretty strict on the eligibility criteria?
Thanks.
Eligibility criteria are not strict. They are looking for people who are financially sound, but with very clear propsects (if you don't already have the cash). They want to make money from you and if you are a boring depositor, they won't make very much, so they want you to borrow money and/or buy investment products.
I've been a Coutts client for some years (business and private) and the service is excellent. They also do a lot of philanthropic event which I occasionally attend - I recently met Kevin Spacey at one event at their Strand head office. A top bloke and no mistake! Would highly recommend them - as mush as an IFA as a bank to be honest.
I have an account with HSBC Private Bank which is the same sort of thing as Coutts.....the investments team is pretty good (and can offer thrid party products) and they have some other good services like a property search business which I know Coutts doesn't have (Coutt's recommend HSBC's). It's not that expensive and the customer service is second to none in my experience...they have certainly bent the rules for me in the past. They don't have anything like the Coutts concierge service though. They have other little perks like meeting facilities that clients can use at their St James's office.
If you just do standard banking, I don't think that you need a private bank. Someone like First Direct will be better. However, if your requirements are more elaborate, such as a big business loan, building a house or the like, the private banks are very good. You get a private banker who actually listens to your requirements and tries to deliver something which is appropriate for you.
The key thing is to make sure that your private banker is local. My Coutts banker is about 200 miles away, which is a waste of time.
The key thing is to make sure that your private banker is local. My Coutts banker is about 200 miles away, which is a waste of time.
Olivero said:
Adam & Co are very good. Mostly it just means that you end up bypassing any phone banking type questions. Making transfers was very easy but no real perks to speak of. Barclays Private client is good too. I get to speak to Lucy each time I need to do something using one phone number, she knows me and everything just works.
http://www.adambank.com/
FWIW Adam & Co are part of the RBS Group as well.http://www.adambank.com/
Just signed up for Yorkshire Bank Private Banking. Not a bunch of benefits from the account particularly but I do have a personal contact (email, mobile, direct line etc for anything I need) and they've been brill thus far, coming out to see me instead of having to go into the branch. Plus no more of Barclays crappy Indian call centre! Oh yes, and I have a natty black leather cheque book wallet.
only!Lloyds lick your arse when you have a bit more than average dosh with them. I found this when my Granddad left me some wealth. From overdrawn and nasty letters to invitations to golf events, the theatre etc.
Nothing too flash though I did once have a moose of a bank manager offer me a shag at hers.....Long time ago and I said no.
I actually find it a bit annoying, going into the branch and having people who don't know you try to be all friendly with you. They do private banking which once upon a time I would have loved.
I don't get much cool stuff with the account The best thing is AA membership - and you don't have to be mega rich - or even rich to benefit. I think even the Gold accounts give you free insurance and entry into lounges at airports. If I am travelling on my own wallet, I find them useful for sitting out the delays with free beer and nibbles. If its business travel and not my coin then I would usually fly business class though with cut backs the free lounge service might come in more and more useful.
As for queue jumping. With the job I do, Clubs like to see us in there. Back in the day, when I cared about such stuff, it was nice that a business card got you into the VIP area with minor soap stars. That was when I cared about stuff like that and was a bit of a knob to be honest.
Now 40- and I couldn't give a damn about Q jumping. If I have to line up to get into a place, its probably not the sort of place I want to be in.
Grumpy old t
t aren't I?
Nothing too flash though I did once have a moose of a bank manager offer me a shag at hers.....Long time ago and I said no.
I actually find it a bit annoying, going into the branch and having people who don't know you try to be all friendly with you. They do private banking which once upon a time I would have loved.
I don't get much cool stuff with the account The best thing is AA membership - and you don't have to be mega rich - or even rich to benefit. I think even the Gold accounts give you free insurance and entry into lounges at airports. If I am travelling on my own wallet, I find them useful for sitting out the delays with free beer and nibbles. If its business travel and not my coin then I would usually fly business class though with cut backs the free lounge service might come in more and more useful.
As for queue jumping. With the job I do, Clubs like to see us in there. Back in the day, when I cared about such stuff, it was nice that a business card got you into the VIP area with minor soap stars. That was when I cared about stuff like that and was a bit of a knob to be honest.
Now 40- and I couldn't give a damn about Q jumping. If I have to line up to get into a place, its probably not the sort of place I want to be in.
Grumpy old t
t aren't I?jinkster said:
Just been in touch with Coutts.
Because I didn't have a million pounds in liquid assets they didn't want to know!
Talk about offering a service to Professionals - I think they need to re-look at that service!
Are you saying that you are looking to switch bank from Handlesbanken because you have compatability issues with your ipad/iphone and their banking software?Because I didn't have a million pounds in liquid assets they didn't want to know!
Talk about offering a service to Professionals - I think they need to re-look at that service!
And that now you are potentially not happy with Coutts as they won't entertain your request?
Jinkster - perhaps it would help the forum in pointing you in the direction of a suitable (private or otherwise) bank if you were to tell us a bit more about what you are looking for from a bank. As I said on another thread, Private Banking means different things to different people and would be worth us finding out what your requirements are. As a Private Banker myself, I am pretty well versed in the services available from UK banks.
I don't really follow your comments with regards to Coutts not being interested in you for not having £1m to invest, they are a Private Bank after all and need to set the bar somewhere. There are a number of Private Banks with even higher entry levels. They will of course be interested in up and coming professionals, but without wishing to sounds harsh, with £50kpa at 28 (which under normal circumstances is a great ratio) you're not going to interest them, at least not yet anyway. Like many PBs (and if I were a betting man, soon to include retail banks) they now levy quarterly charges for those clients not doing a certain level of business so you may find them very expensive, which may put you off them. They instead would prefer to wait until you earn much more and have a larger balance sheet - which is when they can really start to show the benefits of private banking. I should add that I don't work for Coutts.
Fell free to PM if you want to chat offline.
I don't really follow your comments with regards to Coutts not being interested in you for not having £1m to invest, they are a Private Bank after all and need to set the bar somewhere. There are a number of Private Banks with even higher entry levels. They will of course be interested in up and coming professionals, but without wishing to sounds harsh, with £50kpa at 28 (which under normal circumstances is a great ratio) you're not going to interest them, at least not yet anyway. Like many PBs (and if I were a betting man, soon to include retail banks) they now levy quarterly charges for those clients not doing a certain level of business so you may find them very expensive, which may put you off them. They instead would prefer to wait until you earn much more and have a larger balance sheet - which is when they can really start to show the benefits of private banking. I should add that I don't work for Coutts.
Fell free to PM if you want to chat offline.
AdeTuono said:
I joined Coutts a few months ago, and their service far out performs any other bank I've ever had contact with.
I have a personal banker who is always only a phone call away, when ever needed. Direct line, e-mail and mobile. If they're otherwise engaged, everything diverts to their secretary who, in my experience, can move mountains. I haven't had a need to call their help desk (which is UK based), as it's all been done in person.
If you do need to call the helpdesk we've always found them to be very helpful. I have a personal banker who is always only a phone call away, when ever needed. Direct line, e-mail and mobile. If they're otherwise engaged, everything diverts to their secretary who, in my experience, can move mountains. I haven't had a need to call their help desk (which is UK based), as it's all been done in person.
And +1 to Zod's comments on eligibility criteria - it seems the primary criteria they *actually* use is how much you want to borrow (provided you have the income to maintain it) or what investment products you're looking for.
wildcat45 said:
Lloyds lick your arse when you have a bit more than average dosh with them. I found this when my Granddad left me some wealth. From overdrawn and nasty letters to invitations to golf events, the theatre etc.
Nothing too flash though I did once have a moose of a bank manager offer me a shag at hers.....Long time ago and I said no.
I actually find it a bit annoying, going into the branch and having people who don't know you try to be all friendly with you. They do private banking which once upon a time I would have loved.
I don't get much cool stuff with the account The best thing is AA membership - and you don't have to be mega rich - or even rich to benefit. I think even the Gold accounts give you free insurance and entry into lounges at airports. If I am travelling on my own wallet, I find them useful for sitting out the delays with free beer and nibbles. If its business travel and not my coin then I would usually fly business class though with cut backs the free lounge service might come in more and more useful.
As for queue jumping. With the job I do, Clubs like to see us in there. Back in the day, when I cared about such stuff, it was nice that a business card got you into the VIP area with minor soap stars. That was when I cared about stuff like that and was a bit of a knob to be honest.
Now 40- and I couldn't give a damn about Q jumping. If I have to line up to get into a place, its probably not the sort of place I want to be in.
Grumpy old tt aren't I?
funny that, as you get older priorities change. dosnt worry me if people think we have any money or not. I know and have nothing to prove. Dont need a special account or treatment. Nothing too flash though I did once have a moose of a bank manager offer me a shag at hers.....Long time ago and I said no.
I actually find it a bit annoying, going into the branch and having people who don't know you try to be all friendly with you. They do private banking which once upon a time I would have loved.
I don't get much cool stuff with the account The best thing is AA membership - and you don't have to be mega rich - or even rich to benefit. I think even the Gold accounts give you free insurance and entry into lounges at airports. If I am travelling on my own wallet, I find them useful for sitting out the delays with free beer and nibbles. If its business travel and not my coin then I would usually fly business class though with cut backs the free lounge service might come in more and more useful.
As for queue jumping. With the job I do, Clubs like to see us in there. Back in the day, when I cared about such stuff, it was nice that a business card got you into the VIP area with minor soap stars. That was when I cared about stuff like that and was a bit of a knob to be honest.
Now 40- and I couldn't give a damn about Q jumping. If I have to line up to get into a place, its probably not the sort of place I want to be in.
Grumpy old t
t aren't I?superlightr said:
funny that, as you get older priorities change. dosnt worry me if people think we have any money or not. I know and have nothing to prove. Dont need a special account or treatment.
Indeed. My local pub is a prime example It has a mixed customer base from some seriously rich old money types thrugh new money, ordinary money to people with not much. Businessmean, academics, working men, loafers, students, etc etc. Interesting to note one drinker - who is a peer and his mate an old QC - pitch up in a beaten up jag and an eldery discovery dressed like they did it in the dark. The younger, flasher and definately poorer types wander in talking loud and waving car keys around. Used to be me....that. Things do change.brickwall said:
If you do need to call the helpdesk we've always found them to be very helpful.
And +1 to Zod's comments on eligibility criteria - it seems the primary criteria they *actually* use is how much you want to borrow (provided you have the income to maintain it) or what investment products you're looking for.
Well, yes, any private bank is only going to take you on if you are going to generate them a decent income. Someone who just wants to put a few grand a month through a current account isn't going to allow them to generate the money needed to pay for the service. And +1 to Zod's comments on eligibility criteria - it seems the primary criteria they *actually* use is how much you want to borrow (provided you have the income to maintain it) or what investment products you're looking for.
Not unreasonable really, most businesses only take on customers they are going to get a decent income from. But also unless you have reasonably complex banking or investment needs it's all a bit pointless anyway.
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