Opening a current account

shootersam · 14 Aug 2013 at 15:34

I currently have a cash card with the Halifax so was just going to open a current account with them, but thought I would ask here first to see if there was anywhere better to go or places with more benefits, e.g, good Online Banking, rewards for joining, contactless payment, good mobile app.

Thanks, Owen

Ekim · 14 Aug 2013 at 15:35

First Direct

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Mr Jones · 14 Aug 2013 at 15:38

Ekim said:
First Direct

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Assuming you earn more than £1000 a month, they're brilliant. Plus they're giving you £125 just to join up to them, and if the offer is still on, if you leave them for a valid reason, they'll give you £125 for it too.

shootersam · 14 Aug 2013 at 15:40

Ekim said:
First Direct

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I like the idea of getting £125 if I like them or £225 if I don't

. Is their online banking good?

Freakbro · 14 Aug 2013 at 15:43

If you have a bit of money you can leave in your current account as well, and can pay in the £1000 a month, then Nationwide are offering 5% interest on balances up to £2500 and Lloyds 3% on balances between £3-5000

Orch · 14 Aug 2013 at 15:45

Ekim said:
First Direct

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This 100%.

No one ever listens though.

Orch · 14 Aug 2013 at 15:45

Freakbro said:
and Lloyds 3% on balances between £3-5000

Which is fine if you can put up with the worst bank in the country.

Freakbro · 14 Aug 2013 at 15:48

Orch said:
Which is fine if you can put up with the worst bank in the country.

I've had no trouble with them in the last few years *shrug*

Everyone has bad experiences with different companies, it's HSBC I hate and I've heard many horror stories about Santander...but others will come on saying both are great.

Calabi · 14 Aug 2013 at 16:03

I dont think the Loyds is bad because it has bad customer service its bad because its screwing the economy. If people join up with them, its like them saying they dont mind being screwed as long as they dont notice.

Xcandyman · 14 Aug 2013 at 16:05

Don't trust banks anymore... Life savings stuffed under my mattress. All 15p of it

Orch · 14 Aug 2013 at 16:07

I find the lloyds banking website awful to use (we have our business banking there unfortunately) and I hate their sell everything to everyone policy. The amount of clients I see get flogged things they don't need is ridiculous.

"You need to come in for your annual meeting sir" No, no I don't.

I know someone that used to be a tied adviser with Lloyds who quit because the pressure they were under to sell sell sell regardless of who needed what. Completely unethical.

And what Calabi said too.

scorchisio · 14 Aug 2013 at 16:20

just tried to join first direct, got declined lol. i switched to the halifax 3 months ago as they gave me £100 for leaving the yorkshire bank, i dont think that helped my application. Wish id not bothered now as thats a credit search done on me for nothing.

Defy Belief · 14 Aug 2013 at 16:23

With first direct:

Open a 1st Account then transfer your banking using our Easyswitch service (transferring at least two Direct Debits and/or standing orders) and salary/income of at least £1,000 per month to your 1st Account within three months of your account opening and we will add £125 to your account.

For the salary/income part, could I just transfer that from another account and leave it there? Or would it have to be credited to the account by my employer? I work for a bank and have to have my account with them for my salary.

dirtychinchilla · 14 Aug 2013 at 16:24

Natwest has a nice website, nice app, and contactless payment.

tom_e · 14 Aug 2013 at 16:26

Defy Belief said:
With first direct:

Open a 1st Account then transfer your banking using our Easyswitch service (transferring at least two Direct Debits and/or standing orders) and salary/income of at least £1,000 per month to your 1st Account within three months of your account opening and we will add £125 to your account.

For the salary/income part, could I just transfer that from another account and leave it there? Or would it have to be credited to the account by my employer? I work for a bank and have to have my account with them for my salary.

I don't think it would matter where it came from as long as £1,000 appeared in the account every month.

Freakbro · 14 Aug 2013 at 16:31

tom_e said:
I don't think it would matter where it came from as long as £1,000 appeared in the account every month.

As long as it doesn't come from another account within the same bank, then no it doesn't matter.

I bounce £1000 between 3 different banks current accounts to get the benefits from them.

Mr Jones · 14 Aug 2013 at 16:37

Freakbro said:
I bounce £1000 between 3 different banks current accounts to get the benefits from them.

Never knew that's possible, which banks are you with, just out of curiosity?

Lartyconshayo · 14 Aug 2013 at 16:55

Mr Jones said:
Never knew that's possible, which banks are you with, just out of curiosity?

Me either. Aren't they looking out for this ?

Nuclear Fusion · 14 Aug 2013 at 17:12

Freakbro said:
As long as it doesn't come from another account within the same bank, then no it doesn't matter.

I bounce £1000 between 3 different banks current accounts to get the benefits from them.

I do this too (as a student I don't earn £1000 a month!) so I have a standing order to loop £1000 from my Nationwide Flexdirect account (the one mentioned previously that pays 5% on balances up to £2500) to a Barclay current account (which I only have for this very purpose). Provided the money comes from another bank, it counts, even if it is in your name.

EDIT: I'm actually very tempted to take out a first direct account just for the money and then leave. I'll have to find 2 direct debits for me to pay though. Can you switch the person paying direct debits easily? Could I for example pay my parents broadband bill for 3 months and then switch it back to them?

Defy Belief · 14 Aug 2013 at 17:17

That's brilliant how you can do that, time to open a few more current accounts it seems.