:angry: Why Not To Choose An Abbey Bank Account

[Frank8]

I was in a large Abbey bank branch to check my balance at one of their indoor ATMs and I happened to see an advert for a current account giving an interest of 8% for the first year and up to £2500 pounds of the account. You had to switch accounts and pay in £1000 a month.

I wondered if it would be possible to switch from my existing current account with the Abbey to the new 8% account with the Abbey so I went into one of those little cubicles and consulted a young man who is described on his business card as a "Personal Banking Advisor".

He assured me that all I needed to do was to open a new account and transfer my Civil Service monthly pay cheque from my existing account to my new account. I could keep my existing account going so that I wouldn't have to bother to transfer all my direct debits for things such as council tax, gas, electric, etc.

He said he would also put it an application for an Abbey Credit card at the same time. I didn't need one but I thought I may as well pacify him so I let it ride. It was useful in that he had to run a credit cheque on me and found that I was clean. I often fear that one of my more disreputable relatives with the same unusual surname would have tarnished my credit by association.

I must say I thought it strange that the Abbey would allow such a thing since there is no reason, other than lethargy, why many people with a reasonable pay cheque wouldn't do the same thing as I was doing.

On the following Monday I received the bumf from the Abbey and couldn't see any mention of 8% interest anywhere on the account details. So I went back to the Abbey and asked for an explanation from the advisor who was on the reception. I said I obviously wanted something in writing to the effect that the Account Number 193***** would in fact pay the 8% interest rate. The couches were quite comfortable so I was happy to wait patiently while she departed on her long errand. When she came back she assured me that though she could not produce anything in writing the account would in fact pay 8%.

I could see I was getting nowhere so I went home and thought I had better consult the bumf rather than relying on "*anking" advisers. I found a line which read:

If you've got any questions about your switch request please call the Switcher team on 0845 60 900 10.

So I did.

I spoke to "Paula" who said that one could only get the 8% if one switches from a non-Abbey bank to the Abbey. Clearly I was not doing this so the advice I had been given was all bol*ocks.

I therefore told "Paula" that I wanted to unwind everything since I had no use for another normal account nor the credit card. Paula said that I would have to go back to the branch and fill in a form to accomplish this.

What a palaver. And what a cheek to existing loyal customers to pay them less interest on their current accounts than some Johnny-come-lately.

Well Abbey can't expect any loyalty from me. Other banks will have similar offers and I shall just switch to one of them. I think there is a name for people who switch credit cards in this way but I've forgotten what it is.

Anyway, one can't have much confidence in a bank who don't even spell check sub-headings on their web site and write:

Why choose fan Abbey Bank Aaccount?

http://www.abbey.com/csgs/Satellite?c=GSPr...FGS_InfProducto

[downsized]

I recently applied for an Abbey 0% credit card to transfer some debt from another credit card. I filled in the application online and had a reference number for it. Then I received a letter in the post asking me to take proof of ID to a local branch so that they could continue with processing my application, so I took my passport along with the copy of the letter which they copied and told me I'd hear back soon from them.

About a week later I called to ask how my application was progressing and Abbey call centre had no records about my application at all! I gave the reference number and the reference of the letter about the ID - yet no records at all.

The conclusion I have come to after this pointless time-wasting fiasco is that Abbey is a useless spiv-bank run by incompetent muppets and I would advise nobody to have anything to do with this cowboy "financial institution".

[blankster]

Here's another reason: Gleaned from an earlier post on HPC: "Morgan Stanley Issues Warnings On Spanish Banks" by Realistbear. Coincidentally I took most of my money out of my Abbey account last week!

http://www.telegraph.co.uk/money/main.jhtm.../ccspain105.xml

Edited August 5, 2008 by blankster

[Guest KingCharles1st]

As someone so eloquently pointed out the other day- I wouldn't give Abbey "The steam off my piss."

Britain once was truly great.

The Abbey ***** was once a BUILDING SOCIETY- and all the greedy ******* thought they would become millyonaires by taking 200 quid from the trough..

[thermo]

Here's another reason: Gleaned from an earlier post on HPC: "Morgan Stanley Issues Warnings On Spanish Banks" by Realistbear. Coincidentally I took most of my money out of my Abbey account last week!

http://www.telegraph.co.uk/money/main.jhtm.../ccspain105.xml

From above link: "By Ambrose Evans-Pritchard" - who the hell still listens to that moron?

[Nicholas Cage]

As someone so eloquently pointed out the other day- I wouldn't give Abbey "The steam off my piss."

Britain once was truly great.

The Abbey ***** was once a BUILDING SOCIETY- and all the greedy ******* thought they would become millyonaires by taking 200 quid from the trough..

I bet Nationwide and the other BS are so upset at not demutalising

http://news.bbc.co.uk/1/hi/business/the_co...file/138184.stm

Thursday, July 23, 1998

Nationwide members have voted by a narrow margin against converting

the building society into a bank. The margin was just 33,000 in favour of

mutuality with more than two million members voting. Some 1,135,587

members voted against conversion, while 1,101,887 voted for.

Supporters of conversion said it would force the building society to

release large sums to its former members and free it to compete

on a level playing field against other banks.

Opponents say members would lose out in the long term

because a bank would be under pressure to deliver high

dividends to share holders, meaning higher mortgage

charges and lower interest rates for savers

Abbey National was the first to convert and has been followed by

other big names such as the Halifax, Alliance & Leicester, Northern Rock

and the Woolwich.

* 2001

o Society carpetbaggers propose a resolution for another vote by Nationwide members to

convert the society to a bank. The resolution is rejected by the Nationwide board on legal grounds.

[Guest KingCharles1st]

I bet Nationwide and the other BS are so upset at not demutalising

Abbey National was the first to convert and has been followed by

other big names such as the Halifax, Alliance & Leicester, Northern Rock

and the Woolwich.

Umm lets pick the bones out of this shall we..... :angry:

[pablopatito]

And what a cheek to existing loyal customers to pay them less interest on their current accounts than some Johnny-come-lately.

I'm surprised there are still people who believe in the term 'loyal customer', the world just doesn't work like that anymore. Your story also reminds me why I prefer the internet to the high street, everything is in writing and I don't have to deal with a person who will only eff things up. I prefer computers. I've just switched from smile to firstdirect.

I need a new phone and went to the 02 shop to pick one, but I still went and bought it from their website - there's no way I wanted to deal with a person who would probably just hassle me about buying insurance or upgrading my package or some other such crap.

[moonriver]

If you've got any questions about your switch request please call the Switcher team on 0845 60 900 10.

So I did.

And that is another thing that annoys me .... these places always tell us to phone one of their rip off 0845 or 0870 numbers !!! :angry:

A nice little earner for all businesses who use them !

If you have free numbers with your provider, these 0845/0870 numbers are never included, because they give a nice revenue to companies who can talk you into ringing them on them.

Perhaps you could try and find a free 0800 number or geographical number here first http://www.saynoto0870.com/search.php

I always feel a sense of satisfaction when a company tells me to ring an 0870 or 0845, and I manage to find a free one instead.

[JohnnyB]

I'm surprised there are still people who believe in the term 'loyal customer', the world just doesn't work like that anymore. Your story also reminds me why I prefer the internet to the high street, everything is in writing and I don't have to deal with a person who will only eff things up. I prefer computers. I've just switched from smile to firstdirect.

I need a new phone and went to the 02 shop to pick one, but I still went and bought it from their website - there's no way I wanted to deal with a person who would probably just hassle me about buying insurance or upgrading my package or some other such crap.

You can just say no. I always get hassled about this when upgrading, and usually the first 'no' means nothing to them. After the second attempt to sell me a tarrif with 1,000,000 texts I won't use i generally say 'I've asked for a handset upgrade, so do as I ask or i'll go to the Vodafone shop up the road'. It generally works to shut them up.

[sooperlids]

And that is another thing that annoys me .... these places always tell us to phone one of their rip off 0845 or 0870 numbers !!! :angry:

A nice little earner for all businesses who use them !

If you have free numbers with your provider, these 0845/0870 numbers are never included, because they give a nice revenue to companies who can talk you into ringing them on them.

Perhaps you could try and find a free 0800 number or geographical number here first http://www.saynoto0870.com/search.php

I always feel a sense of satisfaction when a company tells me to ring an 0870 or 0845, and I manage to find a free one instead.

Speaking from experience (as I have an 0845 number) it is certainly not "a nice little" earner. It's costs me £200 a year. And I had to buy the number in the 1st place. 0870 numbers are a different thing altogether.

[papag]

Speaking from experience (as I have an 0845 number) it is certainly not "a nice little" earner. It's costs me £200 a year. And I had to buy the number in the 1st place. 0870 numbers are a different thing altogether.

Hi Sooperlids, and welcome to the site you should be used to getting ripped off with Uncle Ken at the helm of our great club

On and On

[sooperlids]

Hi Sooperlids, and welcome to the site you should be used to getting ripped off with Uncle Ken at the helm of our great club

On and On

True enough, said on the day my season ticket finally arrived.

Hopefully he will shuffle off soon.

[tricksters]

Well Abbey can't expect any loyalty from me. Other banks will have similar offers and I shall just switch to one of them. I think there is a name for people who switch credit cards in this way but I've forgotten what it is.

=============================================================================

Rate tart.

[HouseDog]

I applied for a new Abbey Internet Saver account a few months ago.

I paid in a cheque for £10 to open the account but then Abbey did nothing, no paperwork, no online login details, no information.

I called Abbey a few times but was put on hold forever! I rang back and eventually got through to their overseas call centre, where the operator told me that Abbey didn't have a customer service team?

Anyhow, the outcome was that eventually I got through to someone in a complaints department in the UK who gave me £100 for my trouble, closed my account and sent my £10 back plus a few weeks interest.

Not a bad rate of return - but way too much trouble.

[Frank8]

I applied for a new Abbey Internet Saver account a few months ago.

I paid in a cheque for £10 to open the account but then Abbey did nothing, no paperwork, no online login details, no information.

I called Abbey a few times but was put on hold forever! I rang back and eventually got through to their overseas call centre, where the operator told me that Abbey didn't have a customer service team?

Anyhow, the outcome was that eventually I got through to someone in a complaints department in the UK who gave me £100 for my trouble, closed my account and sent my £10 back plus a few weeks interest.

Not a bad rate of return - but way too much trouble.

I thought of going to the complaints department but I felt I'd get more satisfaction with an HPC rant. I've not been disappointed.

Perhaps I'll take things to the complaints after Harrow branch c0ck up my cancellation.

It is clear that with us plebs being able to swap info on the Internet, banks are going to have to buck their ideas up if they want to survive. The best pre-Internet example I know that shows the power of bad publicity is Ratner's "crap" remark. Coke's "Peckham Spring" tap water is another classic that comes to mind.

Edited August 5, 2008 by Frank8

[Elizabeth]

On the following Monday I received the bumf from the Abbey and couldn't see any mention of 8% interest anywhere on the account details. So I went back to the Abbey and asked for an explanation from the advisor who was on the reception. I said I obviously wanted something in writing to the effect that the Account Number 193***** would in fact pay the 8% interest rate. The couches were quite comfortable so I was happy to wait patiently while she departed on her long errand. When she came back she assured me that though she could not produce anything in writing the account would in fact pay 8%.

I could see I was getting nowhere so I went home and thought I had better consult the bumf rather than relying on "*anking" advisers. I found a line which read:

If you've got any questions about your switch request please call the Switcher team on 0845 60 900 10.

So I did.

I spoke to "Paula" who said that one could only get the 8% if one switches from a non-Abbey bank to the Abbey. Clearly I was not doing this so the advice I had been given was all bol*ocks.

I therefore told "Paula" that I wanted to unwind everything since I had no use for another normal account nor the credit card. Paula said that I would have to go back to the branch and fill in a form to accomplish this.

What a palaver. And what a cheek to existing loyal customers to pay them less interest on their current accounts than some Johnny-come-lately.

Well Abbey can't expect any loyalty from me. Other banks will have similar offers and I shall just switch to one of them. I think there is a name for people who switch credit cards in this way but I've forgotten what it is.

Anyway, one can't have much confidence in a bank who don't even spell check sub-headings on their web site and write:

Why choose fan Abbey Bank Aaccount?

http://www.abbey.com/csgs/Satellite?c=GSPr...FGS_InfProducto

Alliance and Leicester do the same with their "high interest for a small amount" accounts. I signed up for one of those and cancelled it when I found out that I wouldn't be getting the 10% also the Halifax who I took out an ISA with that immediately dropped its interest prior to me depositing. I didn't deposit but in the meantime I got another letter dropping the rate again.

[moonriver]

Speaking from experience (as I have an 0845 number) it is certainly not "a nice little" earner. It's costs me £200 a year. And I had to buy the number in the 1st place. 0870 numbers are a different thing altogether.

But, whilst accepting it might not be so in your case, I just read on http://www.saynoto0870.com/ , "some companies that use these numbers are actually receiving a cut of the phone call costs."

As a customer, and many others I know of, I always attempt to avoid 0845 or 0870's alike if phoning from home.

The reason being, the same mentioned site says, many people don't realise that "if you have an "inclusive landline calls' package, then it is very rare that 0844, 0845, 0870 or 0871 are included in your free minutes allocations, unlike normal numbers."

So to constantly ask all customers to pay at least 3p a minute to sort out their mistakes, on these numbers, I think is highly unreasonable of these banks.

I know when I used to be with A and L, they always supplied me with an 0870 if I had a query, which was even more than the 3p a minute for the 0845.

I seem to recall it wasn't long ago, that banks used to be able to sort all problems out in the branches, or supply your with their direct branch phone number, or openly offer you their free central phone numbers. Unfortunately, this no longer seems to be possible, from my experience.

And Frank8 .... Glad you have not been disappointed with your HPC rant. Your rant was well justified imo.

[Muskoka]

Abbey used to be good years ago, but are completely shite now in my opinion. I'd avoid them like the plague!!! When I sold my house last year the lawyer transferred the money to Abbey(over 200K) & the money was lost for 3 days - complete & utter tossers!!! I went into the local branch & they werent even interested - all they did was put me in front of a phone to contact customer services!!! In the end, it was the lawyers fault but Abbey couldnt have been less helpful

[Guest happy?]

Alliance and Leicester do the same with their "high interest for a small amount" accounts. I signed up for one of those and cancelled it when I found out that I wouldn't be getting the 10% also the Halifax who I took out an ISA with that immediately dropped its interest prior to me depositing. I didn't deposit but in the meantime I got another letter dropping the rate again.

It's the standard practice of the all the banks. They act more like boiler-rooms running pump-and-dump scams than legitimate businesses attempting to develop long-term business with customers. It always surprises me that people still fall for these scams, I couldn't be ars3d to chase a 0.25% better rate here or there on savings, with an endless year-after-year trudge around the same big-four plus the wannabes pumping-and-dumping accounts.

Much easier to keep the money in a consistently paying building society account - there are several which are always at the top of the long-term charts. If I had a few million to spare I might think twice about 0.5% on my savings/investments but as I don't and life's too short I keep with the good-paying same two or three building society accounts. On £3.6k you're talking a few quid difference in any one year - over time 5.75% is far better than 6.3% at a bank which then drops it to 5.25% next year and 4.9% the year after.

Pump and dump, bait and switch just two of the scams run by the big four's marketing drones.

Edited August 5, 2008 by happy?

[Girly girl]

I was in a large Abbey bank branch to check my balance at one of their indoor ATMs and I happened to see an advert for a current account giving an interest of 8% for the first year and up to £2500 pounds of the account. You had to switch accounts and pay in £1000 a month.

I wondered if it would be possible to switch from my existing current account with the Abbey to the new 8% account with the Abbey so I went into one of those little cubicles and consulted a young man who is described on his business card as a "Personal Banking Advisor".

He assured me that all I needed to do was to open a new account and transfer my Civil Service monthly pay cheque from my existing account to my new account. I could keep my existing account going so that I wouldn't have to bother to transfer all my direct debits for things such as council tax, gas, electric, etc.

He said he would also put it an application for an Abbey Credit card at the same time. I didn't need one but I thought I may as well pacify him so I let it ride. It was useful in that he had to run a credit cheque on me and found that I was clean. I often fear that one of my more disreputable relatives with the same unusual surname would have tarnished my credit by association.

I must say I thought it strange that the Abbey would allow such a thing since there is no reason, other than lethargy, why many people with a reasonable pay cheque wouldn't do the same thing as I was doing.

On the following Monday I received the bumf from the Abbey and couldn't see any mention of 8% interest anywhere on the account details. So I went back to the Abbey and asked for an explanation from the advisor who was on the reception. I said I obviously wanted something in writing to the effect that the Account Number 193***** would in fact pay the 8% interest rate. The couches were quite comfortable so I was happy to wait patiently while she departed on her long errand. When she came back she assured me that though she could not produce anything in writing the account would in fact pay 8%.

I could see I was getting nowhere so I went home and thought I had better consult the bumf rather than relying on "*anking" advisers. I found a line which read:

If you've got any questions about your switch request please call the Switcher team on 0845 60 900 10.

So I did.

I spoke to "Paula" who said that one could only get the 8% if one switches from a non-Abbey bank to the Abbey. Clearly I was not doing this so the advice I had been given was all bol*ocks.

I therefore told "Paula" that I wanted to unwind everything since I had no use for another normal account nor the credit card. Paula said that I would have to go back to the branch and fill in a form to accomplish this.

What a palaver. And what a cheek to existing loyal customers to pay them less interest on their current accounts than some Johnny-come-lately.

Well Abbey can't expect any loyalty from me. Other banks will have similar offers and I shall just switch to one of them. I think there is a name for people who switch credit cards in this way but I've forgotten what it is.

Anyway, one can't have much confidence in a bank who don't even spell check sub-headings on their web site and write:

Why choose fan Abbey Bank Aaccount?

http://www.abbey.com/csgs/Satellite?c=GSPr...FGS_InfProducto

Tarts !!!!

[the_duke_of_hazzard]

As someone so eloquently pointed out the other day- I wouldn't give Abbey "The steam off my piss."

Britain once was truly great.

The Abbey ***** was once a BUILDING SOCIETY- and all the greedy ******* thought they would become millyonaires by taking 200 quid from the trough..

My old man worked for them when they were a BS in the 80s. He hated the company and its management so much he quit and joined the Woolwich.