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Post by Deleted on Dec 18, 2016 15:35:55 GMT
HSBC makes me pay for a car I bought £10k/day every day until I've paid for it.
I recently had to move £250k through the account and my choice was to take 25 days or a small fee.
When I talk to staff they claim they have work arounds, they never do.
I'd avoid HSBC
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adrianc
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Post by adrianc on Dec 18, 2016 15:40:03 GMT
HSBC makes me pay for a car I bought £10k/day every day until I've paid for it. I recently had to move £250k through the account and my choice was to take 25 days or a small fee. <scratches head> You bought a £250k car? But wouldn't pay the small fee to transfer the money via CHAPS?
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Dec 18, 2016 15:55:57 GMT
/mod hat firmly off.. Nationwide would get my vote, despite having adopted some unpleasantly bankish attributes in the last few years. Smile (aka Co-op bank) work OK too, and haven't gone broke yet, but their interest accounts are now pitiful (more so than the other two). First Direct (but I fled them many years ago when they off-shored their phone answering .. now fixed). Ideally have at least two 'just in case' (in case their systems crash, your card gets eaten, they do an Icesave and you are stuffed for X weeks, etc) (plus that allows you to round-trip funds to meet any 'must pay in £x a month' limits. Tesco/Sainsbury/etc .. No Ta, none of them are (last I looked) actually banks, they are all re-branded 'someone else', so at least 2 parties to deal with when they mess up. Barclays/RBS/Lloyds etc. Why on earth would you? (unless you live next to a branch, or know the manager) Santander? words fail me.. (Although I used to be in favour of many of the B/Soc pieces they gobbled up, and then promptly broke). NW currently demonstrating high levels of incompetence and communication skills on a par with the current prevailing view on SS (second time this year) The fact that their HO seem totally clueless on recent changes in the financial sector (eg HMRC/FCA bulletins on P2P/IFISA) doesnt fill me with confidence. Cant cope with anything not mainstream it seems.
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jonah
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Post by jonah on Dec 18, 2016 18:45:10 GMT
/mod hat firmly off.. Nationwide would get my vote, despite having adopted some unpleasantly bankish attributes in the last few years. Smile (aka Co-op bank) work OK too, and haven't gone broke yet, but their interest accounts are now pitiful (more so than the other two). First Direct (but I fled them many years ago when they off-shored their phone answering .. now fixed). Ideally have at least two 'just in case' (in case their systems crash, your card gets eaten, they do an Icesave and you are stuffed for X weeks, etc) (plus that allows you to round-trip funds to meet any 'must pay in £x a month' limits. Tesco/Sainsbury/etc .. No Ta, none of them are (last I looked) actually banks, they are all re-branded 'someone else', so at least 2 parties to deal with when they mess up. Barclays/RBS/Lloyds etc. Why on earth would you? (unless you live next to a branch, or know the manager) Santander? words fail me.. (Although I used to be in favour of many of the B/Soc pieces they gobbled up, and then promptly broke). First direct wins the MSE annual banking poll with such regularity, I wonder they don't rename it and just have the rest compete for second place. tesco now runs their own IT systems. It is the only mainstream one which runs standing orders over weekends... almost like it has joined the 21st century. sainsburys uses some ex-hbos systems and some others I believe. Beyond that, nothing special. Lloyds /tsb (currently, not for that much longer) / Halifax / bos are all on shared IT systems. hsbc always seems inflexible to me. For basic stuff it works. marks and spencer is a rebrand of hsbc, similar strengths and weaknesses. santander has apparently improved its customer services over recent yes, and my limited interaction with their select service did what I needed. YBS / N&P offer basic, but generally fine services from what I've experienced. Nationwide seem competent from what I've experienced. Ive got accounts with almost all of the above. I tend to use them for their strengths, mitigating any issues. I'm not advocating this approach for everyone. Coop, rbs, Barclays I've not experienced. If anyone these days has only a single account, or just accounts on one IT system, especially people 'sophisticated ' enough for p2p, then I would suggest considering having at least one 'emergency' account. Whilst the 3+ days of the rbs issue might be unusual, there will be more outages in the coming months or years, so a little diversification might be sensible.
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Post by Deleted on Dec 19, 2016 8:09:03 GMT
HSBC makes me pay for a car I bought £10k/day every day until I've paid for it. I recently had to move £250k through the account and my choice was to take 25 days or a small fee. <scratches head> You bought a £250k car? But wouldn't pay the small fee to transfer the money via CHAPS? welll.... sort of, I dislike paying a fee to get my own money, especially to banks
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james
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Post by james on Dec 19, 2016 10:52:54 GMT
While I initially had difficulties with Santander security blocking things many years ago, an account change to Select and perhaps other changes have made it trouble-free for me for P2P and other investing transactions and the 100k Faster Payments limit means no limit in practice for what I do. First Direct themselves are good but their security team is HSBC and they are grossly excessive. For example, it was cheaper for me to do some foreign exchange transactions in units of up to £300 so I phoned FD to confirm that it'd be OK to do that. Next week on an unrelated thing I was transferred to the security team which proceeded to tell me that they were closing my current account and changing my offset mortgage to a non-offset one because of repeated transactions. One complaint later and they had listened to the call and reversed those two but left in place a block on HSBC offering me any credit services. It appears there's a you will suffer if referred to us policy in practice if not on paper. If FD had their own security team they might be fine but given the risk presented by the HSBC team I'm not keen. The FD Faster payments limit is actually £20k, not the HSBC £10k, or was a few years ago when it was also still documented as 10k. I've had no security contact or blocked transactions with NatWest. No contacts makes them the most friendly of the lot so far as I'm concerned. The current 20k/day/transfer limit is sometimes helpful. So of those I've experience with, Santander and NatWest are a couple that I think do decently well for what I do. Don't have only one current account. There's no need and you can protect yourself from assorted mishaps by having at least two.
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jonah
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Post by jonah on Dec 20, 2016 6:23:14 GMT
On the face of it, Halifax and Nationwide seem to be getting the lions share of switchers, but how much of these movements are as a result of dissatisfaction and how much is 'rate tarting' can't be defined from these figures. At least one of those switchers was me. I moved an account from Santander to nationwide in Q1 this year. Of course, the account which moved, may have been opened specifically for that purpose, 6 weeks or so before then, for the purposes of £200 free cash and a years interest at 5%. Not that I'm admitting to chase rates or anything....😜
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scc
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Post by scc on Dec 20, 2016 8:10:26 GMT
Smile (cooperative) have been pretty good in the past with large transfers. I've done £95K and £40K ones with no-hassle beyond a five-minute phone call with their fraud team. Extremely quick off the mark as well. I got a phone call within about 10 seconds of attempting the £40K one.
Interest rates are absolutely rubbish though.
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tony
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Post by tony on Dec 30, 2016 15:54:21 GMT
Slightly off topic - I used to bank with Smile but switched to Halifax and then later to tsb when Smile ceased to a genuine ethical bank and when there was no merit in accepting their very low interest rates. However I miss their calendar month statements and their regular emails reminding me that the latest statement was ready to be viewed online. I found it cumbersome and time consuming to download a calendar month statement from Halifax and then, much to my disappointment, I discovered that tsb used the same system. Printing out a statement is also far from straightforward and consumes vast amount of paper. Am I, in my state of advanced senility, missing something?
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