Switch With Which?

[francis]

I read a really interesting article on switching current accounts in Saturdays's Independent (http://www.independent.co.uk). Apparently, if you're clever you can gain/save about £12,000 in interest over the course of your working life. Which? magazine have a free online service called Switch With Which (http://www.switchwithwhich.co.uk) that allows you to plug in your banking requirements and then compare what's out there. They also provide instructions on how to switch banks wihch, apparently, is really easy. Apparently by law a bank has to surrender all of your direct debit and other similar things to the bank you're switching to within 3 days of their request being received. Additionally, most banks will do all of the paper work for you as they want your business.

The site also has info on switching energy suppliers, mobile and mortgage providers as well as other information on food labelling, eating healthily etc. A good find.

[francis]

Tom - if you're going to o that website comparison part of your course next year, online banking may be a good one. Some sites offer Flash-based demos of their online banking, some have loads of detail about how they work and the services they offer, most are horribly designed and aren't in any way cross-browser, several have useful information hidden away in sub-pages.

First Direct, of the sites I've looked at, have the best looking site. I phoned them just before 7AM this morning for an information pack and got a really good service over the phone. They also do text banking - you'll get a text message on your phone if, for example, your balance reaches a certain level, which is very handy. My brother uses them and says they're excellent. They don't have the highest interest rate (that seems to be Alliance And Leicester) but, going by their site alone, seem to have the best features. Other banks may offer the same service, but if they do, they're keeping it well hidden.