Is there such a thing as an 'ethical' bank?

[chonky]

I'm desperate to change my bank account after finally snapping over a series of bad customer service experiences.

As I'm going to go through the hassle of changing I'd really like to sign up with a bank/building society that has some good ethical policies on money lending etc. However I'm not sure whether there is such a bank?

Sorry this is such a boring topic [yawn emoticon], but my bank have just hacked me off completely and I want to move asap.

coop is reputed to have an ethical investment policy

The co-op bank is most ethical one out there.

I guess it'll have to be the Co-op , thanks Just out of interest, does anyone know what Virgin are like?

Hope it's not the bank I work at

Triodos.

Coop which is also Smile

I recommend Triodos too, the only truly ethical bank, and you can choose exactly where your money is going.

I've never heard of Triodos, they look great. I really like the idea of having some control as to how my money is being used, rather than feeling grubby everytime I whack something on plastic. Thanks everyone.

Any more for any more?

Triodos does investment share options, too, they will let you know about (for instance) a community centre for the disabled that is issuing bonds to help it get a new building, that kind of thing. They have good newsletters, too. I had a TESSA with them (cashed in to buy my house).

No good for current accounts but I've always meant tolook further into Charity Bank . Anyone know any more?

smile may claim to be an ethical bank but they don't treat their customers very well. We switched to them but are planning to move again after what I regard as very shabby treatment. So to me it looks like a big PR thing rather than a genuine ethical attitude.

If you want an ethical credit card try one of these (directory lists several) but beware of higher interest charges and being sent blank cheques all the time. Personally I think the easier way to be ethical with a credit card is to get a cash back one and donate the money to charity.

www.uk-finance-directory.co.uk/directory/directorydetail2.asp?cat=Credit+Cards+UK&subcat1=Affinity+Cards

personally I've always found smile customer service to be good - I esp like the fact that you speak to someone in the UK when you call instead of someone in a call centre in India

I love Smile too and their rates are very reasonable.

I applied for a Smile account last night, but apparently there's some hold-up with the application, so I'm putting their customer services to the test right from the beginning

No. They are all blood sucking leeches. They act like they are doing you a huge favour by allowing you to place your money with them. Make huge and unneccessary charges - £30 for NOT paying a DD? What the hell is that about?!! THEY HAVEN'T BLOODY DONE ANYTHING??!!! They won't lend you money unless you can prove you don't need it.

They are bloody quick to take money from your account but will hold onto deposits for as long as possible - how come debits go in the morning but the 'system' can't show credits till close of business?!

Bloody banks.

Oh and the 'computer' makes all the decisions.

Does the computer decide policy? "I'm sorry, the computer says no'

The computer DOES NOT SAY ANYTHING. What, does it do the hiring and firing and make the coffee as well?

It does what it's been programmed to do. It doesn't make any independent decisions, so don't pretend it's got free will!

chonky, it's not supposed to be nearly such a hassle these days, the bank you are leaving has to make all the details of your DDs etc available to the new bank.

I changed banks about 10 years ago and had to write letters to every single organisation we had arrangements with, telling them the new bank, and kept all the letters and ticked off when they'd replied etc, nightmare, and even so it took 2 or 3 months before it settled down. It should be much easier now [fingers crossed]