Banks

[The Real Moaner]

After Natwest once again suspended my account (just because I withdrew a three figure sum from a bookmaker) and declined a very important payment, I'm strongly considering changing my bank and was wondering if anyone could recommend a bank which doesn't get all panicky as soon as you start transferring money.

[Firkinelle]

I don't think there's much to choose between them now, none are interested in their customers.

[The Real Moaner]

Indeed. I found it quite ironic that I recently received what was a very informative and helpful guide to my finances from 2009. It was only when I reached the back page that it hit me that it was nothing but a glossy sales brochure - the back page containing loads of recommendations for "Savings accounts".

Well, you know, maybe if you offered more than 0.25% interest, I would actually have a savings account with you?

[wagonmastergeneral]

After Natwest once again suspended my account (just because I withdrew a three figure sum from a bookmaker) and declined a very important payment, I'm strongly considering changing my bank and was wondering if anyone could recommend a bank which doesn't get all panicky as soon as you start transferring money.

HSBC suspended all my cards after the fraud team got all sticky over a three figure payment made 2 weeks earlier

I used to be with Barclays but they wouldn't let large transaction pass without a painfully slow authourisation process. Not all bad as kept the missus in check

[Leonthefixer]

I would highly recommend you switch to an Alliance & Leicester Premier Direct Current Account:

http://www.alliance-leicester.co.uk/current-accounts/index.aspx?ct=primarynav

In this day and age there is no point at all having any loyalty to a bank as it means nothing which you seem aware of.

So why switch to A&L?

Firstly they will give you £100 for doing so.

Secondly, do it via Quidco and you will get a further £50, making it £150 for switching:

http://www.quidco.com/alliance-leicester-current-accounts/

Thirdly for 12 months you will get 6% interest on the first £2,500 you hold in the account, so that is another £150.

Fourth, they don't seem bothered about betting transactions.

So all in you will get £300.

After 12 months close the account and switch to someone else offering a similar deal.

this offer ends 7/3/2010 btw and usually they won't have it again for a good few months, so take advantage now.

Simples!

[nigelbleddfa]

Indeed. I found it quite ironic that I recently received what was a very informative and helpful guide to my finances from 2009. It was only when I reached the back page that it hit me that it was nothing but a glossy sales brochure - the back page containing loads of recommendations for "Savings accounts".

Well, you know, maybe if you offered more than 0.25% interest, I would actually have a savings account with you?

I say with a matter of pride that I never sold a savings account or savings plan to anybody. No savings account because other companies offered higher interest, no savings plans because they were a complete ripoff. My preferred product was a five year capital guaranteed bond which give an overall profit of around 25% with no risk to the initial capital investment.Times were different then.
Buy Premium Bonds ! I have had one since I was eight years old and won sod all with it but it's still worth £1. Difference is that £1 would have bought 16 pints of beer in those days and can only buy about 1/3 of a pint now.

[Leonthefixer]

HSBC suspended all my cards after the fraud team got all sticky over a three figure payment made 2 weeks earlier

Never had a single issue with HSBC - in fact I went in and got a second current account opened for the sole purpose of using it for betting transactions - they had no problems with this and opened it there and then, though that was some years ago in my pre trading days

[The Real Moaner]

I would highly recommend you switch to an Alliance & Leicester Premier Direct Current Account:

http://www.alliance-leicester.co.uk/current-accounts/index.aspx?ct=primarynav

In this day and age there is no point at all having any loyalty to a bank as it means nothing which you seem aware of.

So why switch to A&L?

Firstly they will give you £100 for doing so.

Secondly, do it via Quidco and you will get a further £50, making it £150 for switching:

http://www.quidco.com/alliance-leicester-current-accounts/

Thirdly for 12 months you will get 6% interest on the first £2,500 you hold in the account, so that is another £150.

Fourth, they don't seem bothered about betting transactions.

So all in you will get £300.

After 12 months close the account and switch to someone else offering a similar deal.

this offer ends 7/3/2010 btw and usually they won't have it again for a good few months, so take advantage now.

Simples!

Excellent post Leon. Something I'm definitely going to do when I get a minute!

[eggman]

I have an HSBC account which I use solely for trading and have never had any problems. Obviously you earn no interest. I think there is a daily transfer limit of £10,000 to other accounts.

[ron]

i have a Halifax account and have never had a problem transfering monies in, that said it amazes me how you can credit your Betfair account with cash instantly but when you want to take some back it can take upto 5/7 days.

[bazbaz]

i have a Halifax account and have never had a problem transfering monies in, that said it amazes me how you can credit your Betfair account with cash instantly but when you want to take some back it can take upto 5/7 days.

Try the next day bank transfer. costs 6 quid but useful when you're late with the rent dough

[UKJamie]

Interest Accounts

Just thought I would add my 2 penny worth

I have been living in Turkey for the past 7 years and the banks here have probably one of the best interest rates worlwide, it was 27% when I arrived and now its down to 10%.

Still miles better than the 0.25% the UK offers you. There are branches of Isbank (The Turkish National Bank) in some of the major cities of the UK, and opening an account is just a matter of providing a passport and signing the terms & conditions.

The 10% only applies to Turkish Lira accounts and of course they offer currency exchange. They also offer online banking in English and all the usual transfers etc.

The only thing you cant do because its illegal here, is to send or receive cash to a gambling institution, which also includes ewallets such as moneybookers or neteller, but for those of you that have spare cash sitting in a UK bank thats not earmarked for your trading, this could be a way to produce extra cash for nothing.

[AlistairH]

I've had no problems with money transfers from my cahoot current or savings account. Having said that, I need to switch savings account as the interest rate I'm getting there is a pathetic 0.5%

[The Joker]

I once opened I think 3 bank accounts in one go for the purposes of arbitrage at Halifax, I even told the girl opening the accounts what they were for. And have never had any issues with transfers ,max i think I trasferedwas 5k back in the day. Though leons Suggestion is very interesting!
Perhaps a thread/sticky dedicated to this may be in order? Most gambling friendly etc??

Good to keep an eye on them barclays bankers!!

[The Joker]

Having said that, I need to switch savings account as the interest rate I'm getting there is a pathetic 0.5%

That sounds poo though diacalm may help!! try co-op??