What bank accounts are everybody using?


The same way in which Coca Cola tried launching Dasani here and it fell flat, except on a different timescale

Their profit has tanked. It was nearly 14bn in 2018. Dropped to 7.38bn in 2019. Was floating around 5bn in 2020.

Not good for the worlds 6th biggest bank, also; western countries aren’t that lucrative for HSBC. They make most money from their SEA segment. Playing between keeping the US happy and keeping China happy is an awkward life to lead

As was seen when people were condemning HSBC for signing support for the imposing of law on Hong Kong

Furthermore, why would you want to keep open a part of your business that you’ve had for years and just isn’t working? Just because you can cross-subsidise it doesn’t meant you should

I reckon HSBC isn’t leaving the US or France entirely: just moving towards what Wells Fargo is meant to be sticking to since their got asset capped. Clients with really good salaries or high net worths. Profitable, makes up the majority of their assets to lend and keep anyways.


You’re right about this, the article even says so in relation to the US. The will keep a small presence in both countries to continue being a global bank, and keep their HNW customers.

The stated reasoning from HSBC is that their business is planning to “refocus on Asia”, which is clearly a pivot to where there is greater profit to be made.


My 3 current accounts are all ‘Main’ accounts because each one is used for 3 separate purposes, however looking to open a joint account with Starling to take away the functions Nationwide currently serve and turn that into a ‘ghost’ account for the insurance package only:
Starling (Main)
RBS (Main)
Nationwide (Main)

Previously held:
TSB (never ever again!)
Lloyds - defintely if I ever had to
Halifax - not fussed, nothing special in my opinion
M&S - no longer an option

I have a few Current accounts but only really use Monzo for pretty much everything. Will continue to be the case until I see their feature set somewhere else, particularly Bills Pots.

Open Accounts that I actively use
Monzo (Everything except Cheques)
Halifax (Deposit Cheques only)

Open Accounts that just sit there dormant
Child & Co (Recently applied, waiting for details)

Closed Accounts
Lloyds (My first account that I had because my mum banked with them)

:point_up: covfefe moment?

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I currently have the following under my belt:

Active Accounts:
Monzo (Bills and Wages)
HSBC (Daily Spend)

Open but inactive Accounts:

Closed Accounts:
Yorkshire Bank
B Money
Lloyds Bank

Account that i got closed for misconduct (funny story)
Child & Co


Not going to list those that are either dormant or I have closed, but here are my current ones:

  • Nationwide FlexAccount - Wages in, most D/D out

  • Nationwide FlexPlus - Purely for the insurance, etc.

  • Starling - Travel/holiday account, and for the odd cheque

  • Monese - Daily spend and to pay off Amex (Also used for daily spend where possible)

  • Revolut - FX (when the rates beat everyone else), Trading (in partnership with Trading212)


:joy: I’m laughing but maybe someone from RBS will find me next and close the account

Probably the polar opposite of most people who use a combination of a traditional and mobile first bank.

Why do you do it this way round?


I’m pulling away from Monzo gradually as I’m not happy with their Community treatment, customer service antics and paywalling everything. Once I can reapply for starling that’s where I’m going :slight_smile:

I have also had times where HSBC customer service has been boss compared to Monzo


Honestly I think Starling has a decent product but the incumbents have been forced to “innovate” (I mean invest in services) at a rapid pace to keep up and have done-so to the point I probably couldn’t recommend neobanks as heavily as I could in 2018 when I ventured into this kind of community


Now that they are so similar the one advantage that traditional banks do have is a physical presence for anybody who might want (or think they’d want, even just as a backup) a branch network.

That and a higher level of customer trust, some people still don’t think fintechs would keep their money “as safe” (of course this is more a perception issue than anything else).

I don’t get why that would lead you to have your salary/bills at the bank you trust less and day-to-day spending money at the bank you trust more.

I would have thought salary/bills at the bank you trust most makes more sense.


Yep. Get that bit right and then your “daily spend” can be whatever you fancy (though quite why there’s this tendency to make it a different bank evades me).

For some, it’ll be an excuse to use one of those half-a-dozen or so other accounts one’s amassed :blush:.


8 posts were split to a new topic: Monzo

I think this thread has derailed somewhat :joy:

I had to double check I was not on the Monzo Community Forum :blush:

It’s not. We’re talking about Bank Accounts :wrench:

I think i should just make a new thread then should i not. We can call it “Why JoeT doesn’t use Monzo as his main account”. That might solve the said dispute?

Fair point. Absolutely a fair point…

but I’ve given up looking for absolute consistency in my account opening and using decisions :joy:

What I will tolerate with one company is a deal-breaker with another because, well, the first one has a pretty card or something like that! One year I want as many accounts as I can open, then I’ll feel burdened and lie awake worrying about which ones I will ditch and how to decide between them. I’ll choose one because it’s local and mutual, and other because it’s exotic and I’ll be able to walk past the branch one day when I’m on holiday.

And I’ll make up reasons in my head why the one I’m most into this week has the best features and everyone should have it. Then I’ll come onto a forum and chat about it.

I speak only for myself, but such is the world of this particular fintech/banking nerd. Lord cure me of this terrible disease… but not just yet!

(I need to know if Ch*ld & Co will have me, first…)



Thats a “good luck with that one” situation. They have accepted a few and not for me :confused: