Consumer revolt: is there an alternative to the banks?

[sohoscribbler]

OK, many on here have watched the BBC documentary about Barclays. The bank itself has an attitude to customer service that sucks. Yet I expect similar tales would apply to most or all big banks and building societies in the UK.

 

Yet these days it is almost impossible to function in the UK without a bank or building society account. Salary and benefits payments normally require a bank transfer. Immigrants can rarely find legal work without having a bank account.

 

There is no competition.

 

Or is there?

 

Is there an alternative?

 

Can we refuse to open a bank account?

 

Or start another way?

 

I don't know but would love to hear suggestions.

[mazza1970]

I am in a credit union through my work, and they have now started letting members open a current account which offers all the facilities a high street bank does, including a debit card, I have opened my account with them.

Maybe you could ask your local credit union if they offer current accounts.

[Guest peed orf]

Where are they keeping your money?

In a bank?

ummmm Who's getting the interest?

[Guest Alison82]

What about the post office??? don't know too much about these accounts though!

[noclue]

I was thinking the same thing.

 

"What else can we do!"

 

It would appear that we have to use a bank... therefore who or what is the best bank / account?

 

I have come to the conclusion that all banks are bad... but who is the best bad bank (if you know what I mean)

[Guest Alison82]

All it need is for one bank to take the moral high ground and be fair and put their customers first (everyone will want to go there) then all banks will follow suit. Well hopefully!

[Rooster-UK]

What about the post office??? don't know too much about these accounts though!

 

They're closing most of those!

[Guest Niklowe]

And if you need a loan? Try Zopa.

[Guest Alison82]

Whats Zopa??

[Guest Niklowe]

An internet outfit that matches lenders with borrowers and cuts out the middleman.

 

Welcome to Zopa (UK) - The first lending and borrowing exchange

[PhantomReclaimer]

OK, many on here have watched the BBC documentary about Barclays. The bank itself has an attitude to customer service that sucks. Yet I expect similar tales would apply to most or all big banks and building societies in the UK.

 

Yet these days it is almost impossible to function in the UK without a bank or building society account. Salary and benefits payments normally require a bank transfer. Immigrants can rarely find legal work without having a bank account.

 

There is no competition.

 

Or is there?

 

Is there an alternative?

 

Can we refuse to open a bank account?

 

Or start another way?

 

I don't know but would love to hear suggestions.

 

 

 

I'll start a bank and look after everyones money for them

 

P.

[knoxvillain]

sweet, can you give me £20k to move my debt to your new bank please?

[Paintball]

Will it be called The Phantom Bank? I'll open a current account with it right now and have my phantom salary paid in at the end of the month...