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Hairyloon

What is a Good bank these days?

Is there such a thing?
All things are relative I suppose...
The Cooperative is not bad, but has almost no branches, so is not terribly convenient.

I can't help thinking that this is another of those "if you want it done right..." problems, but founding a bank is a bit of an epic project. Confused
Nick

The coop does have issues, for sure, but mwhat do you want a branch for? Not a loaded question, I've some accounts with them, and you can use the post office for most things.
tahir

The Co-Op is likely to complete on the Lloyds branches soon so will have much better coverage. I've had no issues with them
Jamanda

I can't remember last time I actually went into a branch of my bank. I think I've only been into the one here twice in seven years and my actual branch is hundreds of miles away where it has been for the last twenty odd years. Why do you need a branch?
Drewsephine

The only good bank that I can think of involves lots of forms, a magazine and a plastic cup.
At least they give a good return on your investment.
I'll always regret the money I've let slip through my fingers......
foggy

Marks & Sparks are starting a bank...
sgt.colon

We're with the Co-Op and we like them. There are plenty of branches around. Remember they bought Britannia and they also have banks in some of their stores. Smile
NorthernMonkeyGirl

I keep wondering about switching to Nationwide (not sure what the "functional" difference between a bank and a building society is?)... if only I didn't still use my overdraft Twisted Evil
sgt.colon

NMG, as far as I know, Nationwide isn't owned by shareholders and therefore they are not driven by generating profits for someone else. They do it for their customers.
Hairyloon

The coop does have issues, for sure, but mwhat do you want a branch for? Not a loaded question, I've some accounts with them, and you can use the post office for most things.

I don't see a great need for a branch either, but it is not worth me arguing with her about it, and I'm told that all the Post Offices in the area always have horrendous queues...
Treacodactyl

The coop does have issues, for sure, but mwhat do you want a branch for? Not a loaded question, I've some accounts with them, and you can use the post office for most things.

I don't see a great need for a branch either, but it is not worth me arguing with her about it, and I'm told that all the Post Offices in the area always have horrendous queues...

Smile, the co-ops internet branch, allow you to pay in via post as well as a Post Office. See here.

Personally I wouldn't class then as ethical as they've behaved in a similar way to other banks, i.e. offer a high interest rate to get people to open accounts then slash the interest rate when they've reached a certain size.
Marionb

The only time I go into the bank is to pay a bill with cash, or to pay cheques in. Rob R

Why do you need a branch?

To pay cheques in, mostly, or to speak to someone who speaks English as a first language.
bulworthy project

We use the co-op as the most important part of the answer to "What is a good bank?" to us is one that will not invest our money in something that we find morally repugnant.

Occasionally the lack of branches has caused us issues in the past, but we mainly bank online, post our cheques to them or pay them in at the post office and would have to drive to a bank whichever one we used.
oldish chris

When working for a major financial services company, it became obvious to me that the retail banking system is funded by the financially compromised/incompetent. You have only to look at the bank charges to see that this is the case. Manage your accounts carefully and you'll be alright.

Regarding quality of service, it seems to be down to human failure - its a matter of chance, and the probability of a cock-up seems to be the same for all banks.

The only problem regarding branches seems to be things like paying in cheques or cash (I'm ready to be corrected).
T.G

I've often thought about opening an account with the co-op, their business banking bit seems OK, but we don't have any local post offices which would limit the paying in malarky besides I don't like the idea of posting cheques to them ...don't know why.. so haven't yet done it.

ING - I've been trying to open a savings account with them now since Christmas. I get all the gubbings and the money is transferred then a few days later they write to me wanting all my ID stuff again, I ring up sort it then get a I get a statement and then they write telling me they've closed my account because I didn't send in the ID .. Which the phone call previously confirms I have..It's a merry-go-round I've since stopped playing on.

As for the HSBC - bunch of useless inbred morons, bereft of any sense common or otherwise they make Forest Gump look like Einstein, if I had a hit list they'd be the reason for it.
Rob R

As for the HSBC - bunch of useless inbred morons, bereft of any sense common or otherwise they make Forest Gump look like Einstein, if I had a hit list they'd be the reason for it.

Conversely, I've had the direct opposite experience.

I never post cheques to banks though - I like to know they get there & are paid in.
Ren

I could be wrong but the co-op were a mutual but since the 'merger' with britannia, I don't think they are classed as such, they are a weird one.

All mutual are run for the benefit of the customers and don't have shareholders driving them. My knowledge is a little dated, but this also means that mutual need to have a larger proportion of funding from 'secure methods, rather than dodgy overseas funds that are likely to go belly up. (Note: this is not an official economic statement.)

Yorkshire building society are good, they have quite good coverage especially in the yorkshire area and certainly used to alow you to deposit cheques etc with britannia. Although they don't do business banking.

As they are merged with bradford &bingley??? And chelsea bs, they may also allow deposits etc at their branches, Without further research, I couldn't confirm.
Nick

Pretty sure Bradford and bingley are Santander now. Ren

Pretty sure Bradford and bingley are Santander now.

That's right.
I always got mixed up, I meant Barnsley Building Society!. Similar, Question
they are all local yorkshire BS's Very Happy
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