Bank accounts

rossk26 said:
How does it cost more? I don't understand how it's costing me money to have a First Direct account?

I presume you aren't familiar with standing orders and faster payments? You'll never have several days where £1k is floating in thin air unable to use...
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DD are not fast payment and in deed spend several days floating in air. Or certainly not on the three bank accounts I've had recently.
1k is a huge amount of money to take out of an account for a few days. Even on a good month, thats 50%.
 
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PapaLazaru said:
First Direct. Superb online, still able to use branches, telephone answered straight away, £125.00 credited to join, totally fee and interest free £250.00overdraft (unlike most high street banks).

And quality customer service, unlike Metro bank.

What's not to like?
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Card reader, cash/purchase abroad, swift payments, small overdraft charges. For a start, before we even start looking at premium accounts, like travel, phone insurance, breakdown etc.
 
rossk26 said:
That's before tax too I presume? As the calculator doesn't take that into consideration



Your OP emphasised on internet security and not wanting to carry around a card reader to log in...

It wasn't until later you revealed most of your bank dealing was cash, and you wanted a bank account to offer you motorbike breakdown and annual travel insurance. So therefore your emphasis has changed from wanting a nice UI and simple log in online bank account to an account which offers you incentives for paying a monthly fee
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I listed the three main points and they are still the main points, the phone insurance etc are secondry. fD doesnt even cover the main. Points though, except maybe card reader(but that is a may be).
So noo n othings changhed at all, those three things are still the Most important. I didnt list incentive as a main point but as you and others kept brining it up as some holy grail I showed how it wasn't an incnetive and costs more compared to other banks. I can easil see what bonuses accounts have, i cant easily see security or if swift can be done on line. And cash abroad seems to be small banks or building societies, so Included that, in case someone new any other non main stream ones.
 
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I havent mobpbed the ggoal posts at all, just go away.
Everyone kkept harping on about £125 being so good its not. So its n ot a no brianer is it. Especially when it doesnt fullfill the main criteria.
 
rossk26 said:
You don't seem to take advice very well.
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Relaly? 90% of the posts have been great and helped me a lot.

Repeating £125 is some holy grail is not usefull then telling me its usefull doesnt make ot so. Again they dont offer anything else(online swift? No, free cash/purchase abroad? No, security, introducing card reader maybe opt-out but not 100%, more expensive swift charge compared to others as well), secondly its not even the best, would save more on santander 123 everysingle year, rather than a one off.
The fact you can't comphend, that trying to explain why £125 isnt as good as it sounds, doesnt change the main criteria.

At the moment first direct gets one second place rating for £125 and no other good stuff.
Green top of the class, blue second best.
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rossk26 said:
Your spreadsheet mainly consists of comparisons to foreign money charges.

Unless an overdraft has become an important factor now?

I wouldn't base your choice of bank on whether they use a card reader or not for log in, this could change for any bank.
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No its not changed, again ai listed the main thngs in the OP, the things I was struggling to find information on. Overdrafts and the bonus are still considerations, why wouldnt they be, just lower down considerations.
Banks might change and if they do I'll have to move on, i cant see banks that allow phone security changing to card reader only.
I really cant have a card reader to log in, i spend a lot of time in hotels for work, i don't wont to carry a reader with me everywhere, i want to be able to access my account and send money. So that very much is an importnat criteria and will be staying as my number one filter. If I cant even log on without a reader, I dont care what elese they offer as its pointless.

Foreign money charges is the biggest pointless outlay. So it is important, especially seeing most accounts are comparable elsewhere.
That spreadsheet is ordered by prioroty. The only one that could be the otherway around is swift and cash withdrawl.
And I've only listed insurance/breakdown etc if it fits my needs, many of those accounts have far more "benefits" but if they're pointless theres no point and thus not included.

At the moment its looking like lloyds for main acocunt and use metro for DD, but cant seem to find out how much you need to put into metro, but syaing that the number of DD/Bills i have it would be enough anyway. It makes logistics hardare though, making sure with the switch over that all are paid on time. Would much rather one bank, but doesnt look like any one bank offer it all.
 
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A)I missed that post
b) im warry about getting another CC, already have three, keep transferring to get zero interest, which I'm trying to pay off. One I really want to pay off by jan/feb time. The other two still got ~12months interest free on.
C) its halifax ive had nothing but issues with them. I did open up a current acocunt with them and left.they couldn't even get the opening right, and well that was as good as it got.
 
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Heliospherez said:
I'm amazed people are so willing to "pay" a monthly fee for a bank to hold onto their money (considering most of the big players make millions on the interest held in current accounts)
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It depends what you get and how much. I have to buy travel insurance, phone insurance, gadget insurance and breakdown cover for motorbike(usually thats through insurance though). Its usually cheaper to get it through the bank than other means. I pay £10 a month currently which covers phone and gadgets, gives me some travel insurance but pretty usuless now as it doesnt include scuba or high alltitude, which I plan on doing both next year and only covers breakdown for car, which is no longer needed. But still cheaper than buying phone/gadget insurance. Protect my bubble which i used before was £6.99 just for ipad and they didnt even pay out, where co-op seems to be very good for paying out. So it relay does depend on what you need, what it actually covers and how much it costs.
I dont kn ow why you would just dismiss paying, i would have to pay someone for these things.

Ive read the loyds small print on their world travel insurance and all looks good excpet the 2500m max altitude, where i need 6000m. Says you can buy upgrades online, so was hoping someone could have a look for me. If not will have to ask in store. As thats a very expensive insurance just for one trip looking at ~£125 just for that, so if they offer it as an upgrade i would almost certianly be better off with them.
 
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