Jump to content
House Price Crash Forum

Archived

This topic is now archived and is closed to further replies.

DeepLurker

Recommendations For Opening A Bank Account

Recommended Posts

I'm looking to open a new bank account in the near future and would like to do business with a - ahem - responsible bank.

Is there such a beast left? I already have an account with Smile (Coop Bank) so it would have to be with someone else - I don't want to put all my eggs in one basket.

My criteria are fairly vague; basically I'm looking for someone who won't use my money to screw the country.

Any (sensible) suggestions welcome!

It can't be Abbey, HSBC or Natwest - I've had accounts with all of them at various points and won't touch them with a bargepole.

Oh, and Mrs DeepLurker will be wanting to open a business account soon, so my question covers cover personal and business accounts.

EDIT: removed redundant info.

Share this post


Link to post
Share on other sites
I'm looking to open a new bank account in the near future and would like to do business with a - ahem - responsible bank.

Is there such a beast left? I already have an account with Smile (Coop Bank) so it would have to be with someone else - I don't want to put all my eggs in one basket.

My criteria are fairly vague; basically I'm looking for someone who won't use my money to screw the country.

Any (sensible) suggestions welcome!

It can't be Abbey, HSBC or Natwest - I've had accounts with all of them at various points and won't touch them with a bargepole.

Oh, and Mrs DeepLurker will be wanting to open a business account soon, so my question covers cover personal and business accounts.

EDIT: removed redundant info.

Well, it might not fit the "responsible bank" bit, but...Citibank...though not sure if there are many branches outside London....but they are fantastic if you want to have foreign currencies. Have all your different currency accounts online, EUR/USD/+quite a few others, click of a button to move money between currencies and the exchange rate is great, and if you go abroad you just draw money out of your Euro or USD account with no charges. I got sick of my UK bank ripping me off on any transactions abroad. I can't recommend it highly enough, especially if you have £50k+ as you'll get the Gold Service (you can actually contact them directly by phone or email).

Share this post


Link to post
Share on other sites
Well, it might not fit the "responsible bank" bit, but...Citibank...though not sure if there are many branches outside London....but they are fantastic if you want to have foreign currencies. Have all your different currency accounts online, EUR/USD/+quite a few others, click of a button to move money between currencies and the exchange rate is great, and if you go abroad you just draw money out of your Euro or USD account with no charges. I got sick of my UK bank ripping me off on any transactions abroad. I can't recommend it highly enough, especially if you have £50k+ as you'll get the Gold Service (you can actually contact them directly by phone or email).

Thanks, but no joy. As you mention, they fail the "responsible" bit. From the wikipedia entry on Citibank:

As a result of the global financial crisis and huge losses in the value of its subprime mortgage assets, Citibank was rescued by the U.S. government under plans agreed for Citigroup. On November 23, 2008, in addition to initial aid of $25 billion, a further $25 billion was invested in the corporation together with guarantees for risky assets amounting to $306 billion.

I specifically want to avoid banks that need taxpayer bailouts ;)

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   288 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.