What's the worst feature of your legacy bank?

An alternative method is to use the current account switching service, in which case they have to close it in 7 days. You can use the switching service multiple times and consolidate multiple accounts into one account.

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Is CASS now available with the Monzo CA then? Didn’t think it was …

Not yet but Tom has screenshoted it being tested with him own NatWest account to Monzo

My wife has for a long saying how much she hates her coop account because they tell her the wrong balance then charge her for going overdrawn.

Finally managed to get her some photo ID so she can open a monzo account (she’s never needed any before… even has her name on the mortgage without it) so the complaint came up again, and I finally got a look at what she was on about.

The web page showed 2 figures. The first one, highlighted on bold and called balance was not her balance.

The second one was not her balance either. In fact this figure did not exist on the website. I can see why she was confused.

The first figure was cleared balance, an almost meaningless figure since it is constantly days out of date. The second was was the balance plus available overdraft (which it turns out she didn’t know the amount of, which didn’t help) so was equally useless.

To me and most people who frequent this forum, we’re savvy and know about uncleared balances and could work out what was going on. She’s not stupid, just couldn’t understand why the bank would say she had an amount of money when she hadn’t, and it took a few minutes of convincing to get her to believe me.

Monzo will be a huge benefit to her and others like her. They don’t want it need to understand how the banking system works, just want the answer to ‘how much money have I got’.

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True. This also applies to complex financial products like ISAs where in order to compare them all you pretty much need a spreadsheet. If Monzo is able to do all that in the background and recommend a product to you that best fits your use case then handle everything through their app it will be a major boon. (This is Markedplace functionality that Tom talks about)

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The old app was the same as the Lloyds (with different branding). The new one doesn’t work at all on my phone.

I have a TSB current account purely for the interest rate offered, I don’t bank with them. I find their app very basic which looks like it’s been designed by a 10 year old. It comes across to me that everything is in block capitals. Basic, functional but dull.

If it was like the Lloyds app with their features, then I would be a lot happier. Nothing their app does makes me want to switch to them.

Definitely the fact they’re only open when I’m at work and there’s only 1 branch in the entire city and it’s not in walking distance of my office.

I discovered the worst feature of Santander a few weeks ago when they charged me a £25 fee for a €7 SEPA payment. What a load of nonsense.

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My main bank is FD, so I’m struggling to think of any real downside.

If pushed, I’d have to say the foreign spending loading, but then most banks have this anyway!

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First direct is odd. Outstanding Customer Service on a product range out of the ark. Atrocious internet banking interface, and ‘basic’ app, for example I cannot see my loan balance in either. Monthly charge of £10 that is so easy to circumvent one wonders if it’s really necessary. Physical paperwork for EVERYTHING, including sending a letter to inform me I have set up Paym on my account. Non-intelligent DDs for paying off my credit card, so if I manually pay it off early, the DD still triggers meaning I overpay. Other credit cards’ DDs are stopped by a manual payment.

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True.

The product range is not inspiring at all. All my accounts are shown in app, but I accept its basic but it does just work. The web interface is also from the ark, but does what it’s there for, but in a very, very basic way! But at least they have one if that suits you.

They do love their paperwork, who knows why. Even though I opted for paper free, I still get the odd random pieces of paperwork through.

The overall plus is the customer service which is top notch.

Are you sure you can’t deposit a cheque via post with your other bank?

With FD I can post straight to them, pay via Post Office or through a HSBC branch?!

Within a year all banks will be using cheque imaging to deposit and clear cheques, a new system which was introduced on Monday. I reckon most will have upgraded their banking apps by then to make use of your camera to pay in cheques without ever having to actually physically give the cheque to the bank (you’ll probably have to keep the cheque for a while in case of dispute, then destroy it).

There is absolutely no need for that, especially as they are a subsidiary of a Spanish bank.

I never got paying in to FD by post office to work - they insisted I needed a paying in book which FD claimed didn’t exist. The post office site says so too, so there’s been a miscommunication when the two companies set that up.

Had to go into an RBS branch for a full hour just to downgrade my account. Going through paperwork, computer takes ages to load, have a sly look and realise they’re running windows xp. Frustrating!!!

Halifax app does it too. This is what makes the whole thing so confusing… why bother showing the ‘uncleared’ balance. Just display the ‘actual’ balance (uncleared - pending). You could then just put a little indicator next to the pending items so that users can still get the information they might need (for any users who want to be able to see which items are still pending). They already seem to have the information so its weird that the legacy banks haven’t already done it.

Also, contactless payments take a little longer to show in the app, even if they don’t know the name of the vendor they could at least update the balance with the debit amount and update it as they go…

Monzo’s instant account updates is obviously the ideal solution, I just find it strange that the legacy banks haven’t already done it. They seem to have the data they need, just not the desire to implement it.

p.s. - Halifax app now allows log in via fingerprint so you don’t have to enter loads of security info everytime. Small win for them!!

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The worst feature of my legacy bank… the bank itself!

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