Forum

Bank Choices..
 

Hi all,

Right, I have used the following banks and I am not sure if I have used them to their FULL potential as of yet but am asking for some input as to how I can use them better.

Not looking for people to give easy answers but some hints / tips or even couple of PM's on how I could use each bank better.

I currently have spread across;

RBS
HS BC
Natwest
Halifax
Coop
Santander
Barclays


1. How many BASIC accounts could / should you have at each?
2. Online savers - I have heard / seen are not fool proof but can be used in the short term.
3. Anyone got any info on any others that are working well?
4. mycashplus any good? I'm not quite sure how that works though is it the same as any bank?

You're persistent, I'll give you that. :p

I like to learn! Nothing wrong with that, take ideas / advice from people and work on it.

P.S - Asking lots of questions is NOT a bad thing

Lighten up, I was only joking.

You were already advised to slow down on the account opening a few weeks ago. Despite this I still gave a few extra options via PM.

There are no secret methods to opening bank accounts - end of.

I know you were messing :)

I know I was told about slowing down on the account opening which I took advice on and opened 1 BASIC account fine.

Yes your advice via pm was good but not quite sure how that works, like a normal account I assume?

halifax works well for me..am also doing a new stealth on HSBC ill let u know how it goes..i know alliance and leicester are a no no for paypal

Alliance and Leicester I assume is Lloyds right?

Deja Vu anyone?

A&L is Santander

RBS & Nat West same bank group (information from both banks accessible by one organisation) Care required

yep my mum had problems with alliance and leicester

think banking
 

OK I just applied for an account from thinkBanking...had a call from a guy and I dont think I have ever spoke to anyone so rude in my life.. he was arguing me on the phone after me saying I wanted to use the account for eBay & PP he said we can't just have the account open for use with that.

He then wanted to start grilling me about why I want the account... what would you be saying apart from use with eBay / Paypal what do people think is the best answer?

In the end I asked for his name and told him I would be making a complaint about his manner.

Anyone know what to say when going into a bank and wanting to open an account, when they say what do you want it for is EBAY AND PAYPAL a good enough answer?

You shouldn't have even told him you wanted to use the account for eBay/PP but then again he shouldn't be grilling you like that, cheeky bugger.

If they ask me what for - I usually say i've recently had a job interview and got accepted should be starting soon, so I want my money to go into this account blah blah.

thinkBanking are connected to RBS/Natwest are they not?

Thing that confuses me is, if I was to be running eBay as a REAL BUSINESS do I HAVE to have a business account or can you run it through personal accounts but just create invoices for everything?

Dont think they are linked but they have a relationship with them for payments like next working day etc.

In the future will say about the job thing

There was another post I saw from Elijah who walked into Barclays and asked to open 5 basic accounts and he told the girl it was for eBay and wished him good luck. Im sure this isn't good practise.

How to go about this you can't say about a job interview for every account surely

Just say you wanted to use it for payment of wages & standing orders to be able to pay for bills etc etc.

They deal with hundreds if not thousands of such queries - they'd only take a closer look at you if you said anything that raise an eyebrow or two. You must use common sense.:yar:

:pop2:

I think you did not THINK. :doh:

You keep it polite and say you need accounts for making savings towards projects such as home renovation, vacation, etc.

Your banker needs to be your best friend. I go into all my local banks and they see all my transfer but could care less. I stay up to date with the people at the bank and make sure to say hi, bye, hows your day, how have you been etc etc. Also The way my banks work in my area even the large ones that cover several states as I dont have to many branches like BOA but anyways from my experience whoever opens my account is usually the person that deals strictly with me so be extra nice to them.
I just got a call the other day and I did get alittle worried when i heard her on the voicemail but when i called here back she said its been a year for most of your accounts with us and I wanted to make sure you are satisfied with our services and I said yes you have been great and I couldnt ask for a better bank or a better rep to help me with my all my banking needs. So after I sweetened it up I said actually I do need to open another account chk/saving combo and she said please come in so I can take care of it for you whenever you like and theres already 5 accounts there. I own a local business so I always use that for reference to know me but regardless first impressions I feel are huge with bankers, I mean they are holding your money so I take this part very serious but thats just me

The problem with Think Banking is that they want to 'help' you by controlling your finances. They like salary and people with bad credit - not nice people or option at all - there are a lot better options

:ranger:

The issue is not banks.

The issue is how you are going to USE the banks.

Unless you have a defined plan you are opening yourself to a mess.

I've alluded to this before but feel it is necessary to repeat this. :peace:

Your business plan determines the number of bank accounts.

Careful implementation of the plan improves your banking woes :pop2:

Its been said before. There is a finite number of banks that can be used effectively.

Only open bank accounts as and when you really need them. Too many too quickly and you will get problems.

@NoneOther

Since the OP's problem with banks some weeks ago he still has opened more accounts.

This is counterproductive :pout:

Need to play for the long term, there is always a need to have options.

If you burn all those options then ....................:tears:

Nice list of banks though for UK folx.

Indeed, but they are limited and if you factor in the recent takeovers and possible changes of procedures that may result from that then the UK could well have only a couple of viable banks.

Recent takeovers - interesting.

Not new.

Been plenty of info on the banks over the years.:canada:

You are not legally required to open a business account if you are only a sole trader, so the only possible obstacle may be the banks and their own policies. If they try to force business accounts on you, tell them that you don't want them since you applied and got rejected recently, and do not want to hurt your credit record again. That is what I did.

That is what I did, but I see it as protecting myself anyway since I told them from the outset what I would be doing, so if they did not like it, they could have refused there and then; I do not have to worry about them contacting me one day and saying that they do not like what I use the accounts for.

I wouldn't bank on that (pun intended).

A bank can withdraw it's services and close accounts at any time they like.

Just like p/p really.

Very true - just got a bank closed me out after a business client caused me problems =(

I always say that the multiple accounts are to keep my revenue sources separate. Specifically a combination of a few websites and some sales on craigslist and such. Any prying beyond that and I'm going to let the guy know that I'm not going to discuss my business model in any more detail than that.

Usually they are just salesman anyways..

Those living in London could use Metro Bank, They are actually very good.

You say they are good? but have you actually tried them?

Their basic Cash Account allows electronic payments to the account but NOT from i.e. no DD allowed.

Curent Account just like every other banks really, full credit check required.

Accounts can only be opened in person at the branch with photo ID and address verification in hand.

What about Canadian banks? I used TD canada Trust and so far no issues! Any other banks like PC Financial where you could open many accounts?

More of a come on down bank than ideal for stealth.

It's a individual choice :D