Friday 3 October 2008

Co-operative Bank not so Good with Money

When we set up Scamper we opened a bank account with The Co-operative Bank. They didn't have the best rates but they had the best ethical policy on the market so we thought that was worth paying for. However, since we opened our account we have had almost endless problems. Incorrect charges, duplicated transactions on statements, mail sent to the wrong address, and repeated failure of the Internet banking system. We have stuck with them hoping that we were just unlucky, and that things would get better, but we have reached the point where it is just too dangerous for our business to continue. So now we're looking the switch,but it seems that there is not a lot of choice in the market. Most banks don't have a good ethical policy, and those that do often don't have the right facilities (e.g. for international banking), and even of the mainstream banks the reviews seem to be pretty poor. A recent poll by www.smallbusiness.co.uk found that 65% of small business owners are dissatisfied with their bank.

So we're looking for suggestions. If you can recommend us a good bank, preferably with a decent ethical policy, or if you want to warn us against a particularly bad bank, then please do comment or e-mail us.

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