I opened a TSB account a few years ago and have never had any problems with them. Their staff are friendly and helpful. The account is good as well.
The account I have is a Classic Plus account, which pays interest, gives me a contactless visa debit card, and their app and internet banking facilities are good (but see below for caveat). My only gripe is that the introductory cashback on contactless spending has ended, and I cannot get it again. It seems like this is a draw to get new customers. The interest rate is the same as a new Bank of Scotland account I have opened, which also has cashback features, but these are not introductory offers.
TSB lease their software from Lloyds Banking Group so it looks and feels like the Bank of Scotland internet/mobile banking (and I assume Lloyds Bank and Halifax, which is a division of Bank of Scotland, too). This is a hangover from the divestment of TSB from Lloyds. TSB are in the process of creating new software so this may change in the future.
Reviewed on: 13th June 2017
I have had an account with RBS for 18 years, and have just moved to the Bank of Scotland as they have a much better account. I have not had any problems with RBS, their staff have always been friendly. However, the actual Select Account is nothing special, it's very basic. I had a visa debit card but for some reason RBS refused to give me a contactless card (I asked twice, and have never had problems with the account!). I have had an account at TSB for a few years now which has a contactless card, as has my new Bank of Scotland account.
RBS also don't pay interest on their Select Account (both the TSB and Bank of Scotland do pay interest), and the interest rates on their savings accounts are terrible. They do have another reward account which pays cashback on direct debits, but there is a monthly fee so I wouldn't earn that much switching to it as my bills are quite low.
All in all, RBS are okay. The account is basic, it's nothing special. I think I have found better accounts elsewhere. So while I would not tell people to avoid RBS, there are much better accounts out there.
Reviewed on: 13th June 2017
I recently opened a new "Classic Account with Vantage" at the Bank of Scotland. My partner has been with them for over 20 years and told me that they've been great. I did my research and their accounts have quite consistently been in best buy tables I've seen, it also pays interest (unlike my old account at RBS) and they have more branches around - not that I really use them, but it's nice to know they are there. I also liked the everyday offers feature, which said it would give me cashback just shopping as normal if I pay with my Bank of Scotland debit card. You can have these offers "flagged" on your statement too, so that you spot where you could be earning cashback. I did pop in to the branch with a few questions before I opened the account, and the staff were very friendly and helpful. There was a queue at the time, and 2 staff members were helping people skip the queue by showing them how to deposit money in the deposit box/cash machines which I thought was helpful.
It meant I was seen much quicker than just joining the line! They also have a linked monthly saver account which looks good, I may open that too (you need a Bank of Scotland current account to have the Monthly Saver account).
I did the account opening online, which was very easy to do, and had the decision in minutes. I think the whole process took less than 10 minutes. The card and PIN arrived within 4 days (faster than they said it would). Their mobile banking app is VERY easy to use and looks like it lets you do everything you might need to do. I have just activated my first everyday offer - 5% cashback on shopping in Morrisons.
All in all, my experience so far has been very positive, no problems opening the account, and so far, lots of good things about the bank and the account.
Reviewed on: 13th June 2017
