I am the stupid type of person who maintains loyalty in the face of indifference. For over 30 years I have banked with Lloyds and, in that time, have seen over £13,000,000 go through my various accounts. The measure of my stupidity can be judged by various incidents which have occurred. The first was the manager who did a deal with a liquidator to close a company of which I was a shareholder. We wanted to close the company. We owed £750,000 and had assets of 800,000. After the liquidator mismanaged the affair, there was just over £100,000 left to settle with the creditors. Surprisingly, the fee the liquidator awarded himself was just over £100,000 and so there was no money for the creditors. And still I persisted.
When I offered Lloyds £500,000 in assets against loan of £200,000 for a building project the computer said no. In mitigation I would say that it was 2009 and they probably didn’t have any money to lend, and so I stayed.
Move on to 2017 and a call to them to enquire about an account for a small company I own. After 20 minutes waiting on phone I gave up. I tried again. This time the call was answered after 12 minutes but I needed to be transferred twice so it took almost 30 minutes before I was finally connected to the right person, who then told me that, because I was on a speaker phone, they couldn’t speak to me.
On the recommendation of my accountant I called a different bank, a comparative newcomer to the UK. The call was answered in just over 1 minute. I was immediately given the details of my closest branch with name and phone number. I called him, immediately was answered, and arranged an appointment. This is looking good and I will report further when I meet him next week.
And did I mention NatWest? My little company banked with them handling a £ and a € account. What they didn’t tell me was that when I wanted to make a payment from the € account, I had to write a letter to them, put it in the post and wait for them to act on it. Just like it was in the 1970’s!