What is a Good bank these days?

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What is a Good bank these days?
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Hairyloon

Joined: 20 Nov 2008
Posts: 15425
Location: Today I are mostly being in Yorkshire.

Posted: Mon Jul 02, 12 4:48 pm Post subject: What is a Good bank these days?
Is there such a thing? All things are relative I suppose... The Cooperative is not bad, but has almost no branches, so is not terribly convenient. I can't help thinking that this is another of those "if you want it done right..." problems, but founding a bank is a bit of an epic project.

Nick

Joined: 02 Nov 2004
Posts: 34535
Location: Hereford

Posted: Mon Jul 02, 12 4:51 pm Post subject:
The coop does have issues, for sure, but mwhat do you want a branch for? Not a loaded question, I've some accounts with them, and you can use the post office for most things.

tahir

Joined: 28 Oct 2004
Posts: 45676
Location: Essex

Posted: Mon Jul 02, 12 6:45 pm Post subject:
The Co-Op is likely to complete on the Lloyds branches soon so will have much better coverage. I've had no issues with them

jamanda
Downsizer Moderator

Joined: 22 Oct 2006
Posts: 35057
Location: Devon

Posted: Mon Jul 02, 12 7:05 pm Post subject:
I can't remember last time I actually went into a branch of my bank. I think I've only been into the one here twice in seven years and my actual branch is hundreds of miles away where it has been for the last twenty odd years. Why do you need a branch?

Drewsephine

Joined: 15 Sep 2008
Posts: 1146
Location: noun 1 a particular place or position: the property is set in a convenient location an actual place

Posted: Mon Jul 02, 12 9:00 pm Post subject:
The only good bank that I can think of involves lots of forms, a magazine and a plastic cup. At least they give a good return on your investment. I'll always regret the money I've let slip through my fingers......

foggy

Joined: 21 Feb 2012
Posts: 343
Location: Devon

Posted: Tue Jul 03, 12 8:04 am Post subject:
Marks & Sparks are starting a bank...

sgt.colon

Joined: 27 Jul 2009
Posts: 7380
Location: Just south of north.

Posted: Tue Jul 03, 12 8:34 am Post subject:
We're with the Co-Op and we like them. There are plenty of branches around. Remember they bought Britannia and they also have banks in some of their stores.

NorthernMonkeyGirl

Joined: 10 Apr 2011
Posts: 4630
Location: Peeping over your shoulder

Posted: Tue Jul 03, 12 8:48 am Post subject:
I keep wondering about switching to Nationwide (not sure what the "functional" difference between a bank and a building society is?)... if only I didn't still use my overdraft

sgt.colon

Joined: 27 Jul 2009
Posts: 7380
Location: Just south of north.

Posted: Tue Jul 03, 12 8:54 am Post subject:
NMG, as far as I know, Nationwide isn't owned by shareholders and therefore they are not driven by generating profits for someone else. They do it for their customers.

Hairyloon

Joined: 20 Nov 2008
Posts: 15425
Location: Today I are mostly being in Yorkshire.

Posted: Tue Jul 03, 12 8:56 am Post subject:

Nick wrote:

The coop does have issues, for sure, but mwhat do you want a branch for? Not a loaded question, I've some accounts with them, and you can use the post office for most things.

I don't see a great need for a branch either, but it is not worth me arguing with her about it, and I'm told that all the Post Offices in the area always have horrendous queues...

Treacodactyl
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 25795
Location: Jumping on the bandwagon of opportunism

Posted: Tue Jul 03, 12 1:00 pm Post subject:

Hairyloon wrote:

Nick wrote:

The coop does have issues, for sure, but mwhat do you want a branch for? Not a loaded question, I've some accounts with them, and you can use the post office for most things.

I don't see a great need for a branch either, but it is not worth me arguing with her about it, and I'm told that all the Post Offices in the area always have horrendous queues...

Smile, the co-ops internet branch, allow you to pay in via post as well as a Post Office. See here.

Personally I wouldn't class then as ethical as they've behaved in a similar way to other banks, i.e. offer a high interest rate to get people to open accounts then slash the interest rate when they've reached a certain size.

Marionb

Joined: 27 Aug 2006
Posts: 5267
Location: Mid-Wales

Posted: Tue Jul 03, 12 2:08 pm Post subject:
The only time I go into the bank is to pay a bill with cash, or to pay cheques in.

Rob R

Joined: 28 Oct 2004
Posts: 31902
Location: York

Posted: Tue Jul 03, 12 2:15 pm Post subject:

Jamanda wrote:

Why do you need a branch?

To pay cheques in, mostly, or to speak to someone who speaks English as a first language.

bulworthy project

Joined: 27 Jun 2011
Posts: 188
Location: Rackenford, Devon

Posted: Tue Jul 03, 12 4:40 pm Post subject:
We use the co-op as the most important part of the answer to "What is a good bank?" to us is one that will not invest our money in something that we find morally repugnant. Occasionally the lack of branches has caused us issues in the past, but we mainly bank online, post our cheques to them or pay them in at the post office and would have to drive to a bank whichever one we used.

oldish chris

Joined: 14 Jun 2006
Posts: 4148
Location: Comfortably Wet Southport

Posted: Tue Jul 03, 12 4:59 pm Post subject:

When working for a major financial services company, it became obvious to me that the retail banking system is funded by the financially compromised/incompetent. You have only to look at the bank charges to see that this is the case. Manage your accounts carefully and you'll be alright.

Regarding quality of service, it seems to be down to human failure - its a matter of chance, and the probability of a cock-up seems to be the same for all banks.

The only problem regarding branches seems to be things like paying in cheques or cash (I'm ready to be corrected).

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