Has anyone switched to an "Ethical" Bank ?

r00fie1

r00fie1

Well-known member
Am still with Co-op, but looking at "ethical" banks like Triodos and Starling.
Since the Co-op was bought out of American Hedge-Funders its less and less easy to contact them and they appear less customer friendly.
Anyone got any experience +/or in one of these banks.
Any good?
 
Co-op went down the sh*tter when they started to act like a big boy bank and lost their ethical vibe. Mrs used to work for them, and there was a huge culture shift 2005-2007 ish.

Nationwide - on your side ......f*ck right off. Been a customer for years and had nothing but knock backs pretty much every time I've asked.

Also looking to move to a more "user friendly" bank.
 
grumpyoldgit said:
We switched to Nationwide since it is mutually owned.
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Yep, we moved to Nationwide in 2008 after the big 4 almost bankrupt us but the big chiefs continued to get paid millions plus bonus.
Regardless of what h-m Boro says, Nationwide is an ethical bank and for me the best in the UK.
 
Used to work for Nationwide until 2008. With out doubt the steer from above was to do the right thing for the customer and the society as a whole. That didnt mean to say yes to every application, especially if it meant a high risk of default in the future. It can be hard declining applicants when you are under great pressure to accept.
 
I switched my personal account from Nationwide to Co-op and also opened a business account with Co-op about 5 years ago.
They are awful. Terrible mobile app that is often offline, dreadful waiting time on the phone and poor interest rates. If I were less lazy I’d move both accounts.
 
I didn’t know I had ! But yes I’m with starling and I’m really impressed. Everything is online and I find it simplistic. Don’t know if other banks do this but I get to use chip and pin abroad for free. Love the way you can track your spending too, broken down and displayed on a pie chart type display
 
We have been with the co-op for decades, gave to agree that are not the bank yhey were, long customer service queues, not ad friendly, poor interest rates.
It's just the hassle of moving that stops me to be honest... .
 
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Research compiled by Junxion Strategy UK highlights the following business current accounts as ethical choices:

  1. Triodos Bank - Excellent
  2. Al Rayan Bank - Good
  3. Metro Bank - Good
  4. Monzo Bank - Good
  5. Reliance Bank - Good
  6. Revolut - Good
  7. Starling Bank - Good
  8. Tide - Good
  9. Unity Trust Bank - Good
Note: Cumberland Building Society was also named as Excellent, however they're limited to businesses operating in the Cumbria area.
 
smoggs03 said:
I didn’t know I had ! But yes I’m with starling and I’m really impressed. Everything is online and I find it simplistic. Don’t know if other banks do this but I get to use chip and pin abroad for free. Love the way you can track your spending too, broken down and displayed on a pie chart type display
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Please be careful with your spending tracker. It allows the bank to use this information to assess how you use your account and will make a lot of decisions in terms of charges and profitability.
I helped Lloyds set this up for their accounts over 10 years ago.
 
Starling are seriously good and Monzo are nearly as good

Savings go for Marcus at Gold man Sacs

I would not touch the Arab bank with a bargepole - I got out of the Coop a long time ago moved to TSB who were hopeless - Spanish owners !

First direct used to be very good and then went when it took an hour to get through on the telephone.

High street banks are there for them and not for you - Yorkshire/ clydesdale / Virgin at NAB and probably the worst of the lot

Treat banks the way they treat you ! if its rubbish then treat them like rubbish too

Never have one account always more than one. Otherwise sooner or later they'll pin you to the wall
 
Triodos, thinking seriously about moving to them, good reviews on here so far, worth moving ?
Current Acount and Savings Account would be all I would need.
Would appreciate any other feedback on their experience and/or other recommendations.
Thanks
 
I’ve got a Monzo and starling account, both excellent to be fair, simple to set up and easy to keep on top of via there Apps
 
Sexpom said:
All my accounts are now with Monzo and starling, more for the fact it’s easier to get in touch and have a resolution fast to any issues.
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like you, I'm solely with monzo & starling now, but it does bother me that if there was a major issue, there is no-one you can phone if all else fails. the jury is out on monzo's customer service, it could be improved. that said.... I love monzo, best bank I've ever had!
 
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