I bank with Barclays and they do look after me - I have their Premier account, which is great. If I need a loan at short notice - no probs - they gave me a 15k flexible loan at 9.9% APR the day I asked. Need a mortage - no probs (they did ask a few more questions on this one, but gave me a competitive Woolwichmortgage with little hastle). They have a good branch network, although they need to integrate the Woolwich branches better.
However, one thing I have noticed is that their savings rates are consistently poor.
Anybody would find better value by strolling for 10 minutes around a normal shopping centre. Any building society offers far superior savings rates and most other banks do too. Even a Smile current account offers better rates than Barclays savings schemes.
So if you save with Barclays what should you do? There are 3 options :-
1. Do nothing. This is for people with an IQ of less than 100. You lose money for your laziness/stupidity (*) 2. Shop around your high street.(try Nationwide for starters - they are pretty good at savings!) -this option is for people with IQ from 100 - 150 - its not a bad option but more hastle and generally less rewarding that no 3. 3. Go online. Try egg, if, smile - well almost any of the main internet banks really. Best value, least hastle.
And if you are one of those who have chosen option 1 - well I am not sorry for my insulting and patronising tone!
NB (*) = delete as you feel appropriate
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Advantages: Efficient, Good Variety of products, Best offered Cash ISA 2 years running Disadvantages: Try and sell you products that are not always beneficial to you.
BTreyo 18.04.2008 (18.04.2008)
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Oct 15th, 2001
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