bank account recommendations

Discussion in 'General Chat' started by rampant, Jan 3, 2018.

  1. rampant

    rampant
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    Hi all,

    I'm currently with natwest and have a black account which costs £28 per month. I'm looking to move to a different bank account, as i think im paying too much for the service.

    i currently use the following features of my bank account and would like to find another account with similar features:

    - worldwide travel insurance for me and my family
    - mobile phone insurance
    - uk breakdown cover
    - emergency home cover

    I really like the natwest banking app so would want an account with a online banking app as well.

    Any recommendations for similar bank accounts? -don't necessary require a bricks and mortar account, but on occasions need to withdraw significant amounts of cash (£1000+) and would like a
     
  2. Gavin_Hall

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    Nationwide flex-plus does most of the above for £10/month, but pays you 3% interest on up to £2500, so it works out to around £6/month. The only thing that it doesn’t cover from the above is Emergency breakdown cover. I moved from Natwest Black to this account, works for me :)
     
  3. Greg Hook

    Greg Hook
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    Have you looked at the cost of those items separately? We stopped our fee paying bank account years ago as it wasn’t worth it anymore.
     
  4. Ruffuz

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    Nationwide flexplus, its £13 per month now and somethings have changed but still the best packaged account.
     
  5. Astaroth

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    As above, price the items up individually of what you really need/want so you can compare to buying seperately.

    In most cases package bank accounts are poor value but there can be exceptions if you really use all of the components and/or their medical screening for travel insurance is more flexible etc.

    We used to have the old Barclay's Premier account that used to be good value at £18/month inc all of your requirements but european breakdown, airport lounge access and free extended warranties but they have discountinued it totally now and so the new account is just a basic account with a free overdraft and a large cash withdrawl limit from their own ATMs and free of charge.

    I've considered switching to HSBC Premier for a similar service but inc free travel insurance plus access to their associated credit card with a current 40,000 Avios points bonus (after 12 months).

    On top of this account I hold a host of other accounts like Nationwide (couldnt possibly bank with them based on terrible/antiquated processes) and Lloyds which are used for their high interest rates so really savings accounts despite technically being current accounts.
     
  6. Cobb

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    Halifax Ultimate Reward

    Worldwide family travel insurance
    Mobile phone insurance
    AA breakdown cover including home start
    Home emergency cover

    £12 a month.

    I think the daily cash withdrawal limit is £500.
     
  7. RBZ5416

    RBZ5416
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    As has been said, this has now been hiked to £13pm & they dropped extended warranty. I cancelled mine when the price increased & am also looking to move away from them completely now.

    I've recommended them often in the past but IMO, service has deteriorated in recent years & the claim to be "Proud to be different" as a building society is cobblers. My last recommendation was to @Dony which should have seen us both benefit from his switching to them. But they found a loophole to cheat us both.

    Just like the big banks they have slashed interest rates & cut benefits at every opportunity. The latest being the complete removal of cashback from my credit card.
     
  8. rampant

    rampant
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    is there any difference with having a building society account these days? - ie does it still take 3-4 days for transfers or cheques?
     
  9. booyaka

    booyaka
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    First direct - £15 a month for the usual stuff. No physical branches but paying via post office etc.

    Great customer service any time I've needed to speak to them.
     
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  10. RBZ5416

    RBZ5416
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    I can only speak for Nationwide. They are members of the Faster Payments system so online transfers are generally instant. Cheques are still languishing in the dark ages & take up to a week to fully clear.

    One aspect of their online service which is causing me grief at the moment is that there's no option to change the reference number for a payment to someone you've paid previously. You have to edit the main payee details which then locks for 24 hours. Once you've made a Faster Payment & despite the transaction being complete, their system still considers the payment pending. So won't allow any more changes that day. A real PITA if you have two payments to make to the same payee.

    I have other accounts with Barclays & Halifax & both allow the assignment of a new reference number when making a payment.
     
  11. Astaroth

    Astaroth
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    The difference between a bank and a building society is around ownership. In theory both can offer the same services though traditionally building societies were slower at adopting new technologies etc.

    Personally I find Nationwide painful to deal with; because I dont have chip & pin and card reader for my account with them the only way I can change by address is by physically going into branch or downloading a form, filling in a paper form which is posted off to their processing office which takes a week or two to action. All my other banks allow changes online or by phone or instantly in branch without a chip and pin card & reader.

    The only bank I've talked to who were materially different were Handlesbanken where the local branch is king and still make almost all their own decisions but then their most basic account carries monthly charges with no included perks.
     
  12. IronGiant

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    Still very happy with Nationwide, but my needs are simple... and the nearest branch is still easy to get to, an increasing issue these days.
     
  13. DJT75

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    Normal Nationwide Flex Account is free & includes European travel insurance. I top this up for £30 a year to cover family, and I think it was another £30 when we needed worldwide cover one year.

    Breakdown cover I don’t bother with, I’m of the opinion if/when you need it, join when you do. Costs a bit more but got to be cheaper in the long run.

    Emergency home cover just top up your home insurance.
     
  14. gg13533

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    Another plus for the Nationwide account, if you go abroad you can get your cash from the ATM at business rate
     
  15. imightbewrong

    imightbewrong
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    I'm just with a bogo Santander 123 account - can never be bothered to work out if all these services are cheaper/better than what I already buy - why do I want to be thinking about mobile phone insurance at the same time as working out which bank has the best exchange rates or whatever? Do one thing well.

    We pay about £60? for annual travel insurance, and the same again or a bit more for Europe-wide breakdown cover as we spend c. 6 weeks a year driving around there. No doubt these inclusive covers will skip something we need meaning we have to buy again anyway.

    A younger me would have been chasing these various high per cent interest for the first few hundred you deposit for the first six months etc accounts - too much faff for me now though - chasing bigger dreams :)
     
  16. SteveCritten

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    I have a Natwest platinum account that costs £17 a month which gives me travel insurance(covers my wife with MS for a small extra cost which is less than buying separate in itself). Mobile phone insurance which has paid out a couple of times. And breakdown cover. I have thought about ditching the fee but like you I like the app. For Natwest. And it will be marginal to get those 3 things cheaper separate. This account is with one of our rental businesses. I also have a seperate Natwest business account. We have a joint bills account with Santander because of the rewards paid up to 20k deposit and I also have a Barclays account that I have my wages and pension paid into.
     
  17. lord-dudester

    lord-dudester
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    id give a massive recommendation for first direct. all you need, plus superb service and the ability to draw large sums from the cash point after a quick phone call to them
     
  18. stuart07970

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    Nothing, absolutely nothing would cause me to leave first direct.
    Not sure if it’s still going, but at one point they’d pay you £100 to join, and would pay you another £100 to leave in the first 12 months.
    I’m guessing nobody ever took the second £100
     
  19. Astaroth

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    All of those sound expensive, subject to ages and pre-existing medical conditions, as middle of the road annual travel insurance for 2 late 40s adults and 2 pre-teen kids is under the £60 additional charge

    Home emergency isnt a top up to home insurance, its complementary to it but covers different perils - a broken boiler is totally uncovered by traditional home insurance but is covered by most home emergency policies.

    Motor Breakdown, your comments are absolutely true and it for the reason that many who have it dont use it that the wholesale price for it when to be bundled with non-insurance products is so low compared to the retail price - two former clients didnt even charge a premium for european breakdown cover over the full fat UK only cover. If you do need it however it can be a good way to get it as long as you also need the other things that come in the package
     
  20. MrSossidge

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    I hated the first direct app and website. So many times I locked myself out of it. Ditched it in the end and opened myself a natwest account as the app was easier for me to login to with just a pin number or fingerprint on my phone.
     
  21. Astaroth

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    I hate their telephone service - this whole no IVR thing is just stupid when there are no seperate numbers for different departments given out. When I applied for an account we had a couple of issues with proof of ID docs and they kept giving the main telephone number to call which you queue to get through to and they then say they have to put you through to someone else and you queue again only to find too frequently they've put you through to the wrong person. I know others don't like IVR but if you arent going to have "press 1 for new account opening" then at least leave the phone number for them in your voicemail!
     
  22. imightbewrong

    imightbewrong
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    Santander have a semi-decent app, although I hardly ever use it.
     
  23. rampant

    rampant
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    having a further look last night, and there are several things i forgot to list

    - cashback - currently get 2% on dd's - and i get around £13 per month.
    - priority pass lounge access - this i use a lot, and its unlimited (so 'worth' around £230 per year!), i fly primarily with BA and have lounge access, but when i fly some of the other carriers, then i need to use their lounges - i've used it around 10 times last year.

    so net cost of these benefits to me is around £15 per month, with the only real advantage of this account over others is the priority pass access.
     
  24. RBZ5416

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    I experienced this when first making enquiries with them. Ask a question & the rep goes off to ask someone else, the reply generates another question so off he goes again.

    I actually started an application online last night but lost the will to continue when they wanted to know:
    • My employers details, including address
    • What they did
    • What I did
    • What my job title was
    • How much I earned
    • When was I paid
    • How was I paid
    • How much I was paying in now
    • How much I was paying in this year
    • Where did it come from
    • Etc., etc., etc.
     
  25. stuart07970

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    In my defence I signed up in 1993.
    It was a simpler time if I recall.
    But still revolutionary back then, to be able to call the bank at 2am and them schedule a payment for particular date in the future.

    To be fair I hardly ever call them now, and do it all on the iOS apps.
    I’m guessing most people are the same, and maybe that makes demand difficult to cover.
     
  26. Astaroth

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    It wasnt the queue, it was knowing you were queuing for the wrong person but that you cannot go straight to the right person because (a) no call steering to push you to the right team (b) refusal to give any telephone number out other than the main customer service number
     
  27. BAN5HEE

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    I have the Natwest Platinum and I've hammered the last year.
    Two mobile phone replacements, travel insurance after a hurricane and breakdown cover twice.
    I had no issue claiming and it was super easy and straightforward. Easily worth way more than the £17p\m I'm paying.
    I also get 3% cash back each time I use contactless and 2% back on all my utility bills on DD.
     
  28. KyleS1

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    I'm another happy Nationwide account holder, but again, like IG, I think my needs are simple. I have moved lots of other things over to Nationwide too so I can manage them all in one online banking app/website. Not had a problem to date and been with them about 15 years I think.
    I pay the £13 a month, and use that one as the joint account so it covers me and my wife for all the benefits and the kids are included as well.
     
  29. wezzywebb

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    So ,im switching banks to Nationwide ,any fellow AVF members fancy sending me a referral link so we can both claim £100 :),if so first pm I get I,ll go with ,thanks in advance:thumbsup:
     
  30. wezzywebb

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    UPDATE ,thanks for all PM,s ,no more needed :)
     

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