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Best banks

Replies: 13 - Last Post: Nov 9, 2012 3:55 AM Last Post By: battybilly

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twob_nz

twob_nz avatar

Nov 4, 2012 11:16 PM
Posts:  7

Best banks

Who is the best bank to deal with when setting up an account. I just hear horror stories about setting up an account.

OneScot

OneScot avatar

Nov 5, 2012 5:02 AM
Posts:  1,178

1

Are you looking for a NZ based bank? What's important to you? Is it just ease of set up? Or do you want an account good for travelling? Or internet banking? etc etc

battybilly

battybilly avatar

Nov 5, 2012 7:05 AM
Posts:  12,228

2

Yey.... *1 - OneScot hits the nail on the head.
This is The UK & Ireland vranch, but it states you're from New Zealand.
Which is it you need?

mike9

mike9 avatar

Nov 5, 2012 7:34 AM
Posts:  1,235

3

Agreed - but where are you now? If you're in UK, go in to the local branches of the banks and have a chat with them and see who offers you what, and who you are most comfortable with. If you're in NZ, then as a start talk to your own bank there and see if they have any arrangements with UK banks. For a mixture of personal and business reasons I have dealt with all of the "big 4" UK banks (ie. Lloyds, Barclays, HSBC and Natwest ) in the last 3 or 4 years, and while none of them were "perfect" I wouldn't complain about the treatment I've had from any of them

battybilly

battybilly avatar

Nov 5, 2012 7:56 AM
Posts:  12,228

4

One of the latest popular options in The UK to spring up big time in the last two years, are Credit Unions.
I've no idea how they work, or who they do and don't accept, but the reviews are raving.

benjus

benjus avatar

Nov 5, 2012 8:14 AM
Posts:  156

5

If you have recently arrived in the UK from overseas, you will probably have more luck talking to one of the "big four" mentioned above than with the smaller banks/building societies. The usual problem is proof of a UK address - if you have an acceptable proof then you should be OK with any bank. If not, you could try the HSBC Passport account, although that costs £8 per month for at least 6 months (standard accounts in the UK are normally free). Getting an account without any kind of credit facility (known as a "basic bank account") will be easier than opening a standard current account with cheque book etc

mike9

mike9 avatar

Nov 5, 2012 8:46 AM
Posts:  1,235

6

#4 -they've been around a long time, but they tend to deal in relatively small amounts of cash and loans, and generally don't offer the usual range of banking facilities (eg, current accounts, payment of bills etc). You normally have to be a member of the credit union before you can have any financial dealing, and membership usually requires some sort of joining mechanism,which might include a fee - they do vary

battybilly

battybilly avatar

Nov 5, 2012 12:35 PM
Posts:  12,228

7

Thanks for that. I had no idea they've been around for a long time.
I've only just noticed them popping up in many places.

edthesock

edthesock avatar

Nov 5, 2012 5:09 PM
Posts:  206

8

I used HSBC passport when I first got here. They were the only bank willing to give me an account without a proper UK adderess.

twob_nz

twob_nz avatar

Nov 5, 2012 8:21 PM
Posts:  7

9

I want to know who is the easiest to deal with when moving to the uk. Thanks for all the info

scribblerkeith

scribblerkeith avatar

Nov 6, 2012 2:21 AM
Posts:  214

10

Cooperative Bank a player in the ethical market over here.

Offer basic accounts with card only and cheque book accounts too.

benjus

benjus avatar

Nov 6, 2012 2:38 AM
Posts:  156

11

If you want to apply before you arrive in the UK, HSBC Passport is probably your only option - unless your local bank has a relationship with a British bank.

sniffyjon

sniffyjon avatar

Nov 6, 2012 9:54 AM
Posts:  2

12

Twob_nz you have not specified your requirements about your account. All banks have different type of accounts ranging from basic to current and saving so it depends on the type and services, if you just want to keep your money into bank and need visa debit card for simple transactions then can visit any of the four banks mentioned above. Can also try Halifax.

battybilly

battybilly avatar

Nov 9, 2012 3:55 AM
Posts:  12,228

13

There's really no 'Best' bank(s) in The UK. They all work for some, and don't impress others.
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