Page 3 | Current Account recommendations

Whenwillglorioussummercome · 2023-06-22T09:06:30+00:00

I need a new current account and would be interested in recommendations. I know a few offer incentives to open a new account, which would be nice. But I’m probably more interested in customer service, useful features, and an ethical bank would be good. I’d love to avoid clunky processes for payments/authorisations.

Teabutnotasweknowit · 23/06/2023 07:25

Chase for me. Their rewards really add up over the year, and they have excellent interest rates.

Going to go against the grain and say I hate First Direct. Some time ago, I was seriously assaulted by my XH. I was unable to work for 6 months due to my injuries. FD were fully aware of what had happened, but still piled endless bank charges on to my account when things were really tough for me and my children. They added so much stress and additional financial burden on me, and I certainly wouldn't call them ethical

The other bank I was using at the time (Barclays) were brilliant.

Original poster

Whenwillglorioussummercome · 23/06/2023 13:40

I’m realising how totally short changed I’ve been on banking features reading this posts. IF, and my previous bank beforehand, don’t even do contactless, let alone an app.

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Badbadbunny · 23/06/2023 14:40

25sheets · 22/06/2023 21:53

I had been with Clydesdale for over 30 years until they were taken over by Virgin. When that happened it was absolutely impossible to be able to speak to anyone on the phone.
I move to First Direct and so far I'm very impressed. Calls are answered within a couple of minutes. UK personnel. Helpful, friendly, intelligent.

Actually it was the Clydesdale/Yorkshire banking group that bought out Virgin Money but paid to keep the name and rebrand.

cheekaa · 23/06/2023 14:44

flipent · 22/06/2023 12:32

I've been with First Direct for 10+ years.
App is simple to use, internet banking is good and if I do need to phone, I've never been on hold - they always answer right away. Call center is in Leeds and they have always been very helpful and pleasant on the phone.

I see deals come up for switching all the time, and have considered (free money) but ultimately the service has kept me with them.

I have banked with FD for 30+ years and most of my family also bank with them. I can not recommend them enough.

Appleofmyeye2023 · 23/06/2023 17:36

BarbaraofSeville · 22/06/2023 11:28

I've not been a customer for years but I think that First Direct still get high levels of customer satisfaction, they pay an incentive to join them, have a 7% regular saver account and their call centre is second to none.

You phone them up and a real person answers, who takes you through security with sensible questions that don't require you to remember the 8th and 9th characters from the name of your teddy bear at primary school or favourite film during your A-levels.

Then they can actually answer questions about your account without repeatedly quoting lines from their script that answer a similar question but not the one you actually asked.

I swop banks every 2 to 3 years to get the (tax free) swap bonus ! first direct is pretty good - no issues, phones answered fairly quickly , but I mostly online bank and rarely call. Apps and online site easier enough, but like most these days they don’t make it easy to download statements in excel format to copy and paste into my accounting system I have on excel. One of things all banks got worse at over last 10 years🤷🏼‍♀️🤣
so, yep, it’s good generally

Appleofmyeye2023 · 23/06/2023 17:39

Teabutnotasweknowit · 23/06/2023 07:25

Chase for me. Their rewards really add up over the year, and they have excellent interest rates.

Going to go against the grain and say I hate First Direct. Some time ago, I was seriously assaulted by my XH. I was unable to work for 6 months due to my injuries. FD were fully aware of what had happened, but still piled endless bank charges on to my account when things were really tough for me and my children. They added so much stress and additional financial burden on me, and I certainly wouldn't call them ethical

The other bank I was using at the time (Barclays) were brilliant.

Ha, well just shows it depends what you are asking them about or need help with, I detested Barclays and left asap. Hated their customer service, genuinely struggled to hear what they said on phone between appalling connections and language barriers. And they were absolutely unhelpful in resolving issue I had, one of few banks I’d never go back to.
FD has been good. But so was Santander, hsbc, Lloyds…I hop around a lot to make most of offers.

FreddiesTeeth · 23/06/2023 17:43

First Direct. Excellent customer service.

MayThe4th · 23/06/2023 17:47

Nationwide flex direct is an in-credit interest account which pays 5% AER for the first 12 months on the first £1500 in your account, provided you pay in £1000 a month from an external source. as well as an interest free overdraft for that period.

MayThe4th · 23/06/2023 17:49

I used to love first direct and I do still bank with them. But their customer service has gone downhill since they moved most of their customer service off-shore.

And this was a bank who had a selling point of their call centres being in the UK.

Idontgiveagriffindamn · 23/06/2023 17:52

I’ve been with Monzo for a few years and love the set up and the app

DappledOliveGroves · 23/06/2023 17:56

We're with Nationwide. We have a FlexPlus account which we pay £13 per month for and that provides mobile phone insurance for the family, breakdown cover and travel insurance (which for various unlucky reasons I've had to claim on three different times in the last seven or so years and it has always been excellent).

The app is fine. Not brilliant, but does the job. New payee set up is a bit of a ball ache compared to other banks such as NatWest or Metro (I also have accounts with them). Nationwide is good in that it gives back to members (we got a £100 payment from them this month which was welcome). I appreciate they're woke and have no idea what a woman is, but I don't believe any bank hasn't got sucked into all the nonsense.

TakeMyStrongHand · 23/06/2023 18:14

Intemperatefatty · 22/06/2023 23:12

@TakeMyStrongHand no worries. I would be interested in reading that article too if you do find it. Chase, Stirling, Monzo and Revolut are all digital only banks so I wonder if that might be behind it? A lot of people use these accounts for travel as they don’t charge foreign exchange fees. However, Chase, Monzo and Stirling all have UK banking licenses so can and do operate as proper banks, and your deposits are protected. Revolut on the other hand do not, so yes they are no more than a prepaid card in the eyes of UK law if something went wrong.

So... I think I'm talking rubbish!

I appear to have lumped revolut, monzo and chase into one group of prepaid cash card. I should have them in two groups as you're spot on saying two are online only and I can't go in branch and the other is a pre paid cash card!

MayThe4th · 23/06/2023 18:54

It’s worth noting that for those who have online only banks, there are a lot of companies who won’t accept statements from online only banks should you need to provide them for e.g. ID purposes.

I don’t know why that is, and it’s not all companies, but it’s enough to be relevant.

Original poster

Whenwillglorioussummercome · 23/06/2023 19:08

TakeMyStrongHand · 23/06/2023 18:14

So... I think I'm talking rubbish!

I appear to have lumped revolut, monzo and chase into one group of prepaid cash card. I should have them in two groups as you're spot on saying two are online only and I can't go in branch and the other is a pre paid cash card!

Show quote history

Revolut does keep any money in a savings account in a protected third party bank account but any current account money it says is protected to an extent by ‘safeguarding’ measures.

I’d never looked into it before as I only really use it for contactless payments (seeing as my debit card doesn’t do that) and transfer small amounts into it at a time, or use it on holiday. But I hadn’t realised it was different to Monzo etc so thanks for pointing that out.

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