Grrrrrrr dam banks

[LotT]

My first bank was Giro, when it first started. It was sold to Alliance and Leicester... Then Santander bought A and L.

I also had an account with Abby.... Now Santander.

I have a Co-op bank account, the best one out of all of the above. Easy plain English 'rules' Friendly service/advice. Not 'pushy' with add on selling. Only been with them 5 or 6 years and so far excellent.

[MelmacALF]

From my experience I think all banks are more or less the same. ie all fine right up till something goes wrong and your the one who then has to chase them to fix it.

So now I change my bank accounts/cards quite often (every 1 or 2 years depending on account type). In most cases there is no benefit to staying loyal, and I thnk in most cases, your actually worse off if you stay with them. Same goes for insurance, I change them every year to get the best value.

[astral276]

In most cases there is no benefit to staying loyal, and I thnk in most cases, your actually worse off if you stay with them. Same goes for insurance, I change them every year to get the best value.

I don't think anywhere rewards customer loyalty any more. All they seem interested in is new business, and not keeping existing business. I must admit that I don't see the rational behind it - unless they are relying on customer inertia.

[UniquenMornique]

Morning all anyone been watching Bank on Dave?


If so what do you think?

[TonyBridger]

They bought out LLoyds today so must be growing.

They are expanding into the energy supply market as well.

I wonder how I stand... Lloyds bought out Scottish Widows, and now Co-Op have bought out Lloyds. Does that mean the Co-Op now hold my life policy?

I believe Lloyd's is not selling everything to the Co-op and are only selling a number of branches (mostly in Scotland,), with the customers registered at those branches, to keep the idiots running the EU happy. Don't think they are selling any of their insurance business

They are also selling the branches cheaply to get rid of them quickly so I wouldn't expect them to sell their most profitably branches

[buttons-and-bows]

santander ?

It's a bank if thats what your asking

[PetBazaar]

I believe Lloyd's is not selling everything to the Co-op and are only selling a number of branches (mostly in Scotland,), with the customers registered at those branches, to keep the idiots running the EU happy. Don't think they are selling any of their insurance business

They are also selling the branches cheaply to get rid of them quickly so I wouldn't expect them to sell their most profitably branches

Not 100% sure on the ins and outs of this one, but it's my understanding that they're offloading their old TSB branches. LloydsTSB will go back to being simply Lloyds and the Co-Op will own the TSB portion - but branded as TSB.

As said before, they're being sold on the cheap as the EU have instructed them to sell off branches as a result of receiving their state bailout.

[PetBazaar]

I don't think anywhere rewards customer loyalty any more. All they seem interested in is new business, and not keeping existing business. I must admit that I don't see the rational behind it - unless they are relying on customer inertia.

Got it in one with the inertia bit. Case in point is the power industry. Despite moaning about electricity and gas prices being practically a national pastime in the UK, apparently something like 80-90% of all customers have never changed supplier.

So they (and the banks) take the time to chase the new customer, because they know that the existing customers aren't going anywhere - and will probably even tolerate a reduced service or higher bill in order to subsidise the new customer's freebie.

[madelaine]

The banks do, indeed, rely on customer inertia. You are statistically more likely to get divorced than to change your bank (I buck the trend - I've moved banks 4 times but only been married the once and never divorced)

[MelmacALF]

- unless they are relying on customer inertia.

how true, they assume that most wont bother to move.

I must admit, I was a bit worried that changing banks might go all wrong and put it off for a few years, but once I switched once you find its actually very easy and Iv done it a few times now and not had a problem with switching yet :-)