A fresh banking experience (lloydstsb.co.uk)

Name: agazad

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Product:	lloydstsb.co.uk
Date:	24/01/05 (246 review reads)
Rating:

Advantages: Simple, Friendly, No-Nonsense

Disadvantages: None

I'm a student currently and around a year ago set up my third current account with Lloyds TSB. I set up a meeting online and was given a reference for my local branch and a time. When I first arrived at the bank I was delighted to find the staff were very helpful and friendly, having worked for a few weeks for the Clydesdale bank previously, this bank seemed in excellent working order! My account was set up instantly via the bank's computer network - all done and dusted within 20 minutes! There and then the manager gave me my account details, let me enter security details for internet banking and issued a welcome pack. The manager was extremely helpful and gave me some great tips for the future with regards to upgrading and changing my account; also advising that I ran as much money through my account as possible, as it all counts towards a credit rating for a mortgage later on (i expressed my interest in buying property). The systems within the Lloyds TSB chain seem perfect. Their products are simple and much easier to understand than rival banks. I would genuinely favour Lloyds TSB and am considering moving all of my accounts to this bank!

The account I hold with Lloyds is their Classic Current Account, with this you get a visa debit (or a visa electron if you are 16-18), cheque book on request. Interest rates are nothing special on the current but I opened an online savings account (fully and within 24 hours - online) with a 4% net interest rate on balances over £250, which is not bad for a small, instantly accessable savings account. You only get internet access to this account but transfers are instant.

I suppose its up to the individual and their own personal experiences with each and every bank. For instance Lloyds have never been hailed as the 'best bank', but to me, they do the job and have treated me well. Unlike my experiences whilst working with the Clydesdale, banking with the Royal Bank of Scotland and likewise the Bank of Scotland.

The main factors i would consider when selecting a bank would be:
- services and interest rates (including internet/telephone banking, security history etc)
- branches and staff (i enjoy small banks, personal service and friendly staff)
- call centres (i find nothing worse than speaking to foreign people about my personal finance, meant in no negative way to foreign countries; banks make enough profit to re-invest in the UK i think!)

Comments Welcome - Thanks!

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