Anyone love their bank? Need to switch and after recommendations...

[Bellaisoneluckywoman]

I have been with First Direct for years and was always really happy with them. However, as they are part of HSBC they have also DOUBLED their overdraft rates to 40% APR, which is a joke given where base rates are. So need to shift my account and our joint account. Wondering what would be good. Have heard great things about Monzo??? Grateful for any tips. Want easy to use app, decent customer service etc.

I’ve been with Bank of Scotland for decades. The app is very simple, but I only started using it this year as their telephone banking service was so good.
Customer service has always been excellent. I’ve never waited long for an adviser to answer the phone, and they’ve always been very clued up and efficient.
When a utility company debited my account several times for the same bill, the advisor chased them up the same day and demanded an immediate refund electronically on my behalf - the utility was trying to say it would take three weeks to get the money back to my account.
The advisor phoned me back at work (I was in the operating theatre!) and told me he wouldn’t trust the utility staff to “sit the right way up on the toilet!”, but that the refund was going through. It did, too.
I still get regular monthly paper statements, which I like as I check my receipts and bills monthly, despite now being online.
I’d recommend them unreservedly.

Big fan of Nat West, been with them for years.

Strange, because I have heard really NOT great things about Monzo.

I was going to say first direct. If you need to utilise an overdraft then you might find most banks are much the same as it's not an effective way to borrow money.

Bank of Scotland their app is great and easy to use.
Never had any issues with my bank.

Yes, exactly what Leghair said. When I got the email about the charges I did baulk a bit - but then thought it’s a good incentive not to accidentally overdraw

Whichever bank you go to, make sure they don't have similar plans re overdraft interest in the pipeline!

Money Saving Expert inferred they would probably all follow suit...something to do with a change on the law

Starling!

I would recommend Starling or Monzo. I prefer Starling, but use both

LOVE the functionality of Monzo. It's so much easier to stick to a budget. However I've never had cause to use their customer services so I don't know if they're any good.

Starling for me all the way, it has honestly changed how I think about my money - in a positive way. Slick app, great customer service too.

Love monzo. I’ve had an account for just over a year and it’s brilliant. So easy to use and has transformed my spending and saving habits

Nationwide. We struggled lots with finances when our youngest was a preschooler and we had limited income and they were always reasonable and understanding. Couldn't ask for more from them really.

Another vote for Starling here

Yep, Starling is great.

I love monzo too. I've used customer service a couple of times and they've been great. The visibility it gives you over your spending is amazing.

Monzo is brilliant! They have live customer service through the app, the budgeting functionality is fab, very easy to use and set up, and good for reducing those unnecessary purchases! Can have multiple accounts - single joint etc - and switch between them. No fee for oversees cash withdrawal up to a certain amount each day and no fee for card payments abroad. Not sure what their overdraft arrangements are though.

I love NatWest

Love love love Starling. It has revolutionised the way we manage our money, just brilliant.

I'm with Yorkshire bank. Their app ""B" is brilliant. I can allocate to different savings pots, bank cheques on the app, set up payments etc. The app is a really important aspect I look at when switching banks because I don't own a laptop so it's all done on my phone. I also love the fact they have a live chat on the website, I can sort easy queries that way instead of having to phone.

Never heard of starling but it looks really good, shame I'm happy with Santander.

Thanks all. Will look into the banks you've all mentioned. Interesting about the possibility of all banks going down the same route. I just don't understand why it should be the case given where base rates are. We have a generous O/D limit, but my understanding is they will charge it on all O/D - not just unauthorised ones or portions of ones.

Came on to say I've been really happy with FD for years, but I don't use my overdraft so their rates are not something which is important to me. Customer service is second to none.

They will all follow suit due to new regs. NatWest have already done it: www.which.co.uk/news/2019/12/hsbc-first-direct-and-ms-bank-to-hike-overdraft-rates-to-nearly-40/

First Direct is actually one of the better ones as the first £250 of their overdrafts remain fee free. Most others it’s £25.