Clydesdale Bank Accounts

...my personal account with the Clydesdale (no real quibbles there, actually, until now), but had a completely unwarranted nasty letter this morning. I rang the branch immediately and spoke to one of the "old guard" (i.e. pre- new "number cruncher" measures to slap charges straight onto accounts without taking circumstances into account), who I shall keep anonymous to protect their job. They advised me to move my account at once ...
...to pay myself before my Clydesdale current account went over the overdraft limit. It was three weeks since I opened the account, and I was also concerned that I had had no confirmation from the Clydesdale that I had even opened the account. I (eventually) got them on the phone (only 89 rings - I kept a record!), and they told me that the guy who had opened the account had gone on sick leave that evening, and that due to the nature of his condition, ... more

UPDATE II - 29 SEPTEMBER 2003
As they've recently redeemed themselves slightly in my eyes, I feel it only fair to update this op AGAIN...

Through sheer laziness, I left the personal account with the Clydesdale. During the early Spring of 2003, they employed a couple of human beings, one of whom telephoned me early this year to ask me about my account needs. I told her that I had no regular means of being paid, and that some months she could expect to see several thousand pounds paid into the account, and others, nothing at all. I offered to fax her a few recent contracts so that she knew I was telling the truth (which I did), and we then came to the arrangement that when I had reached my overdraft limit, although I would not be able to get any cash out of my account, they would not (within reason) refuse direct debits, or bounce important cheques which I had discussed with them by prior agreement. In other words, I could pay the rent, but not buy that pair of boots that I saw as an equally important need.

"We're trying to understand customer needs better" she told me. I replied that they certainly needed to, and it was only sloth that had kept me from moving my enormous overdraft elsewhere.

So...yes, they do still charge for every transaction, and yes, I probably WOULD still be better off elsewhere, but I now have a trust relationship with someone at Piccadilly Circus, and need never lose sleep about paying essential bills again.

In short, if you are looking for a bank, they are worth talking to, but give them a hard time, otherwise they could end up shafting you.

UPDATE - 13 SEPTEMBER 2002

I still had my personal account with the Clydesdale (no real quibbles there, actually, until now), but had a completely unwarranted nasty letter this morning. I rang the branch immediately and spoke to one of the "old guard" (i.e. pre- new "number cruncher" measures to slap charges straight onto accounts without taking circumstances into account), who I shall keep anonymous to protect their job. They advised me to move my account at once to "somewhere that actually gives a toss about the customer" (where would that be, then?), as "Head Office are deliberately trying to close accounts like yours down" (i.e. frequently overdrawn, less than £20000 passing through them a year, no other services, like loans or credit cards, from the bank).

Sorry to keep updating this op, but I want to make sure nobody else gets screwed royally by the Clydesdale.
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In addition to my current and savings accounts, I also have a business account with the Clydesdale. I was originally recommended to them by one of the Executive Banking clients (who then earned a seven-figure sum a year), who undoubtedly gets a completely different class of service to the rest of us, as he is still gushing in his praise of their competence and clarity.

The service, as detailed by all the other opinions here, is absolutely appalling, and the lucky devil that actually got someone on the phone must have some kind of miracle gift! The average number of rings before I lose the will to live is 60 or 70.

Charges are horrific for transactions (average £0.25 for withdrawals AND deposits!), and £32 for going a few pence over my overdraft limit left me reeling with shock the first time it happened. In addition, they have a remarkable talent for cancelling direct debits altogether without warning, so you are left in the interesting position of wondering each month whether you have actually paid your bills or not.

However, their running of the business service is something else again.

I opened a business account in May 2000 for my newly formed Limited Company. I saw a really nice, helpful guy, who gave me solid advice, provided me with an account number to set up BACS payments with people I was already under contract to, and promised me a chequebook by the end of the following week (this was a Thursday - I still remember it well). He said that I could call on the bank at any time, discuss business plans, have access to finance - all those things that a new business finds useful, comforting, and essential from their bank.

1 June 2000 - I still didn't have my chequebook, and since around £1,000 had been transferred by BACS into the business account, I needed to pay myself before my Clydesdale current account went over the overdraft limit. It was three weeks since I opened the account, and I was also concerned that I had had no confirmation from the Clydesdale that I had even opened the account. I (eventually) got them on the phone (only 89 rings - I kept a record!), and they told me that the guy who had opened the account had gone on sick leave that evening, and that due to the nature of his condition, would not be returning to work. Ever.

I didn't get angry at this point - these things happen, and the poor guy's working life was over. I did ask a few questions about my account though, only to be told it didn't exist, they had no record of the account number, and that they certainly didn't have a chequebook waiting for me. Where then, was my £1,000?

Floating in the ether, actually...

By this time, I had been charged over £100 for returned cheques, direct debits, and other charges on my current account. They had money which they knew was mine, just held in check because there was nowhere to put it. I did seek advice on this, and they should have just put this money into my current account until I gave them further instructions.

After much haggling, I eventually had a business account in July, two months after incorporation. My first quarter tax bill was absolutely enormous due to having to "pay" myself every penny I earned. At least, that's how the IR saw it.

But was this the worst of it? Oh no...

In July 2001, I had a six week gap between contracts, and I warned the Clydesdale that there was likely to be a week to 10 day period where my personal current account might slip beyond the permitted red into purgatory. I had no response to my letter (177 rings at 11.45 in the morning - what else was I supposed to do?), so assumed (wrongly) that there would be no problem with this, and that they would view this period with a little leniency.

In my business account was £500 to pay my tax bill.

Except it wasn't.

Clydesdale Bank Plc chose to remove that £500, without my permission, and pay it into my current account to cover the overdraft.

My cheque to the IR bounced.

Needless to say, banks shouldn't do this. To illustrate my point, if I was the CEO of a large multinational, and transferred money from the corporate wedge to my own bank account, I could find myself in court for theft.

This episode ended up costing me around £900 in fees, letters, accountancy charges, and general hassle from the bank.

I'm moving the business account - I haven't before now since I haven't been in a position to. The personal accounts will follow it out the door shortly.

Be careful.

UPDATE - STOP PRESS, 30 MAY 2002

They have just done it again, and I wasn't even overdrawn this time! I have passed the matter to my solicitor, and this time, I am taking them to court. Watch this space...

 

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