Contrary to popular belief, neo-banks represent only 3.5 million accounts among the 119 million customers of traditional banks in the UK, which is a drop in the bucket! Many consumers remain loyal to traditional services for many reasons. However, it is not easy to find a traditional bank that suits their needs. To enjoy better customer service and more human assistance, read our guide to the best traditional banks in the UK.
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Our selection
"A true pillar of the French banking sector, Société Générale offers a wide range of advantageous services for individuals and professionals. For its 6 types…"
"Axa is much more than an insurance company. Its financial products also touch the banking sector. Axa manages your current account free of charge and…"
"By joining the 2000 BNP Paribas branches, you will benefit from the best traditional banking services. You will be able to open a current account,…"
"The BRED Pro account targets companies and can be opened online for greater efficiency. It is suitable for all statuses and sectors. Liberal professions, entrepreneurs,…"
A true pillar of the French banking sector, Société Générale offers a wide range of advantageous services for individuals and professionals. For its 6 types of cards and products, there are no income requirements.
See the offer
Axa is much more than an insurance company. Its financial products also touch the banking sector. Axa manages your current account free of charge and offers you a secure customer area through its mobile application.
See the offerIncome requirements are applied to Axa's Classic and Premier cards. Only the Découverte card is not subject to this parameter. On the other hand, Axa authorizes overdrafts, the ceiling of which varies according to the formula (100 euros/month to 1,000 euros/month). Even better, customers of this traditional bank do not pay any account maintenance fees. The card can be used free of charge under certain conditions to be discovered on the bank's website.
The customers of Axa bank benefit from an online service and physical branches. All types of consumers of banking offers are thus satisfied. This establishment wants to be a company as digital as human. Like Société Générale, Axa has a special formula known as Oligo. It includes a bank card, an insurance, a check, one stop payment per year and an advantageous overdraft rate.
By joining the 2000 BNP Paribas branches, you will benefit from the best traditional banking services. You will be able to open a current account, savings, loans and various investments.
See the offerWhen you open an account with BNP Paribas, you will have access to a checking account, a checkbook, an online account management tool and a bank card. In this regard, BNP Paribas cards come in 5 categories: Visa, Classic, Plus, Electron and Infinite. The fees related to the use of these cards will be between 38 and 340 euros.
The activities related to your account can be done from the online platform or directly in the branch. In either case, the bank distinguishes itself by a good quality of service. Then, it puts forward some savings books, adapted to all the needs: Livret A, Livret A Baby, Holiday savings, BNP savings, Innovation savings, young people's savings book, sustainable development and solidarity savings book, popular savings book.
The BRED Pro account targets companies and can be opened online for greater efficiency. It is suitable for all statuses and sectors. Liberal professions, entrepreneurs, craftsmen, farmers and traders create their account with this establishment.
See the offerAny specific needs?
The best traditional bank in the UK in 2021
The best entry-level traditional bank in the UK
The best high-end traditional bank in the UK
The best traditional bank in the UK for professionals
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| TOP OF THE LINE | CHEAP | TOP OF THE LINE | EXCELLENT | |
In accordance with our commitment, this buying guide does not contain any sponsored products. |
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| OUR SELECTION |
Société Générale
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Axa
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BNP Paribas
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BRED Pro
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A true pillar of the French banking sector, Société Générale offers a wide range of advantageous services for individuals and professionals. For its 6 types of cards and products, there are no income requirements.
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Axa is much more than an insurance company. Its financial products also touch the banking sector. Axa manages your current account free of charge and offers you a secure customer area through its mobile application.
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By joining the 2000 BNP Paribas branches, you will benefit from the best traditional banking services. You will be able to open a current account, savings, loans and various investments.
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The BRED Pro account targets companies and can be opened online for greater efficiency. It is suitable for all statuses and sectors. Liberal professions, entrepreneurs, craftsmen, farmers and traders create their account with this establishment.
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Customer service
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Welcome offer
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Up to 130 euros
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Up to 250 euros
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1 year free
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2 months of free membership
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Bank cards
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6
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3
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5
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3
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Mobile app
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Yes
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Yes
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Yes
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Yes
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Mobile payment
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Yes
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No
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Yes
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Yes
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The first reason that pushes consumers, professionals and individuals, to choose a traditional bank is the possibility to go to a branch to be better accompanied and better served. The first question to be asked concerns the location of the establishment. This criterion is not a problem since most banks have several branches in all cities. You can therefore open your account at the branch closest to your home. This makes it easier to travel in case of problems and to carry out various transactions.
The big snag with the traditional bank is in the price. It is more expensive both in the long run and in the short run. All the more reason to focus more on this criterion of choice. Many institutions offer a banking package that includes the price of the bank card(s), the account maintenance fees, the cost of opening a new account. Other services are added depending on the scope of the offer, namely:
They can be priced independently or with the starting package. Then, be aware that the price of the cards is not the same, as they do not offer the same privileges. To give you an idea of this difference, the classic visa card costs around 45 euros and the premium cards have a price around 150 euros, or even more.
Your traditional bank must offer you the following services to satisfy you:
In addition to opening a current account, traditional banks give the possibility to make loans for various uses. It can be to buy a real estate or a vehicle (car or motorcycle). They also offer a credit repurchase to reduce the rate of indebtedness and to decrease the monthly payments.
All the establishments put at your disposal a savings account. However, the conditions are not the same. It is thus necessary to look for the most advantageous offers, in particular in terms of interest rate, accessibility of the fund, and minimum capital.
The opening of a bank account comes with some essential services. You have access to a bank card whether it is free or for a fee. If the latter, make sure that the price of the card is attractive. Then, prefer banks that offer digital use through a mobile application, which must be compatible with your medium (smartphone or PC). In addition to that, there are other small services that make all the difference, such as SMS alerts for example.
The transaction terms change the whole deal. They must fit perfectly with your needs. Ask about the types of transactions offered. The authorized limits for transfers and withdrawals are inseparable from this information. This is also where you should check the fees for domestic, foreign, same bank and other accounts.
Whatever the details of these arrangements, security should be your primary concern. Therefore, you should take stock of the security measures applied by the institution.
You use a traditional bank to enjoy better customer service. This is not a remote contact, because that is the very principle of traditional banks. So a customer service that emphasizes human contact is much more preferable. Find out more about this if you want to deal with friendly and respectful staff. On top of that, the competence of the bank's employees is greatly felt through the customer service.
You are no longer satisfied with the services of your bank or with the rates it charges? No problem, the procedure to change bank is not as tedious as many people think. The new bank will take care of the preparation of the bank transfer by carrying out all the related procedures as soon as possible. If this operation was spread over several months before the banking mobility assistance, it is now done in about a month.
With this protocol, consumers can either close the account and transfer the balance or keep the account open while moving all current operations and transactions to the new account. In addition to transferring funds, it communicates the new banking information to companies that interact financially with the customer through their bank account.
There is no need to close the old account. All you have to do is complete the actual subscription. Note that it is also possible to do without this assistance. In this case, you take care of all the procedures yourself. On the other hand, the choice of the new bank is not made lightly. That's why we have provided you with the best possible options. In any case, the change of bank is free of charge.
Commercial banks are the most used. This is where you open a current or savings account. Here you will find all the classic services of a physical bank, those mentioned above in the guide. Commercial banks offer their banking services for individuals and professionals. Some institutions in this category only make deposits.
Business banks are especially for professionals. Their purpose is to manage the inflow and outflow of money for businesses. In addition to managing funds and capital, they provide advice and guidance to their clients so that they can succeed in their financial strategy, particularly with respect to capitalization and investments. It is also the best institution for entrepreneurs, investors and companies wishing to enter the stock market or carry out a merger and acquisition.
The main activity of investment banks is focused on the financial markets. Companies and shareholders who buy and sell shares use their services. They also have interesting and attractive propositions on bonds and derivatives. Just like investment banks, investment banks help companies to go public. Then, the organization of fund raising and foreign exchange operations is part of their activities.
It goes without saying that traditional banks are more expensive. But the quality of service is unbeatable. However, this parameter still depends on the level of competence of the staff. Physical banks are the best option for customers who are close to the branches in town. Frequent making of deposits also requires the presence of a conventional bank.
Online banks are unsurpassed when it comes to pricing. Their prices are up to 4 times cheaper. The absence of a physical branch allows them to be more competitive. Then, customers do not need an account manager too much, which further reduces the charges and fees corollary.
Apart from that, cards are often free or cost very little with online banks. Apart from the affordability of the banking offers and services of these institutions, their accessibility is advantageous to the somewhat homebound customers. All operations are done remotely with a fairly acceptable quality of service.
Online banks obviously have a lot of advantages. However, their offers are sometimes quite restrictive, especially in relation to their access conditions. Then, the security of funds is not necessarily reliable in all banking institutions. The traditional bank is primarily designed for consumers who are not very comfortable with technology.
Choose a traditional bank with a digital service.
Choosing a traditional bank does not rule out the possibility of benefiting from online services. They facilitate many things and simplify access to one's account, without depriving oneself of human contact with the manager.
The traditional bank is good for you if you don't like to change establishments at any time.
Unless the rates keep increasing, traditional banks meet the needs of consumers who value operations carried out directly in the branches. This creates a relationship of trust between you and the institution.
The traditional bank is a solution if you are not too much into new technologies.
More than a few people don't like to play around with new technology, whether it's physical or digital. If you do, it's best to stick with a traditional bank.
The traditional bank is better for making investments.
This type of bank is for investors who are keen on financial investments and securities. This is because it offers valuable advice on how to break into these activities, not only at the beginning of the investment, but throughout the investment process.
The traditional bank and the online bank can be combined
You will no doubt have understood that the classic bank and the online establishments are complementary. The former is favorable for current accounts thanks to its proximity. For other services, online banks may be more interesting in the sense that they have cheaper and advantageous proposals in the long term.
The best traditional bank in the UK depends on your needs and budget. Read our buying guide to find out more.
All customers of a traditional bank are properly taken care of from account opening to account closing. They also get access to a certain amount of services, richer than those offered by online banks.
The cost remains the Achilles heel of these establishments. Several free operations with neobanks are charged up to about fifty euros in this case. Then, the requests often take longer to be taken into account, because of the delay in technology.
Already that the main fees of a traditional bank are considerable, it is unthinkable to find one for free. Opening an account always costs something.
Their offers are suitable for both businesses and individuals. Only, the range of services offered falls into two distinct categories for both.
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