#131
Here in Peterborough where I live the news is filtering through and was discussed this morning on BBC Radio Cambridgeshire. In a nutshell, people are appalled that such a strong local brand is disappearing. On the other hand YBS pointed to most account holders wanted to operate their accounts online and online banking will still be available for N&P customers. What was highlighted was new mortgages: Local people like to have a face to face discussion about a new mortgage and the lack of that is likely to put N&P at the bottom of their list of prospective lenders. Another affected group are those older people in smaller Cambridgeshire villages who are not online and therefore cannot bank online and are finding their local options limited or non-existent when the local N&P branch closes. The militant side is pointing to hitting back at YBS by closing their N&P accounts but personally I'd say there's not a lot left that is not already closing or already closed.



Personally, I live in Peterborough but I only used N&P briefly for their debit card during one trip overseas. Like a lot of local people the bank brand matters and the bigger the better but recently I have moved to Yorskshire Bank which also has a branch in Peterborough and the "B" account.



Lastly, YBS which is a mutual owned by its members and owns N&P is ceasing or has already ceased to serve its members and sadly is going for the profits.

#132



HSBC would be the obvious choice as they provide the clearing for the accounts. However, Nationwide or one of the challenger banks are more likely.
Originally posted by Heng Leng


HSBC wouldn't be interested at all; the customer base simply isn't one they're interested in and they're already reducing capacity in their branch network while also being preoccupied with the DPA and the whole ring-fencing thing.

#133



... On the other hand YBS pointed to most account holders wanted to operate their accounts online and online banking will still be available for N&P customers...
Originally posted by Anthorn


I hope no-one get confused that a current account and online account management can be 2 very different things.



I remember when we had an N&P current account with online banking, we could also see details of all our other accounts we held with N&P, such as a traditional BS share account operated otherwise through a passbook.



(We closed the lot when the writing was on the wall quite a few years back, and they closed our local, more outlying, branch )

#134



Here in Peterborough where I live the news is filtering through and was discussed this morning on BBC Radio Cambridgeshire. In a nutshell, people are appalled that such a strong local brand is disappearing. On the other hand YBS pointed to most account holders wanted to operate their accounts online and online banking will still be available for N&P customers. What was highlighted was new mortgages: Local people like to have a face to face discussion about a new mortgage and the lack of that is likely to put N&P at the bottom of their list of prospective lenders. Another affected group are those older people in smaller Cambridgeshire villages who are not online and therefore cannot bank online and are finding their local options limited or non-existent when the local N&P branch closes. The militant side is pointing to hitting back at YBS by closing their N&P accounts but personally I'd say there's not a lot left that is not already closing or already closed.



Personally, I live in Peterborough but I only used N&P briefly for their debit card during one trip overseas. Like a lot of local people the bank brand matters and the bigger the better but recently I have moved to Yorskshire Bank which also has a branch in Peterborough and the "B" account.



Lastly, YBS which is a mutual owned by its members and owns N&P is ceasing or has already ceased to serve its members and sadly is going for the profits.
Originally posted by Anthorn


Usung the services in this way is exactly why their current account is a loss leader. If it's not bringing in other revenue from customers like you there's no way other members should subsidise your unprofitable relationship.

#135



HSBC wouldn't be interested at all; the customer base simply isn't one they're interested in and they're already reducing capacity in their branch network while also being preoccupied with the DPA and the whole ring-fencing thing.
Originally posted by JuicyJesus


I had qualified the comment that other providers are more likely... but since HSBC provide sort code 40-65-00 and they seem to be after current account holders across their 3 UK brands (HSBC, First Direct and M&S) it's as not as simple as you state.



Your branch comment is tosh. Clearly they'd any new provider would take on the book/customers not the staff/branches.

#136



I had qualified the comment that other providers are more likely... but since HSBC provide sort code 40-65-00 and they seem to be after current account holders across their 3 UK brands (HSBC, First Direct and M&S) it's as not as simple as you state.
Originally posted by Heng Leng




HSBC provide a lot of sort codes for a lot of agency banks they would never ever want to take over. It will have precisely no bearing on who or what they take over.






Your branch comment is tosh. Clearly they'd any new provider would take on the book/customers not the staff/branches.


That isn't what I said. What I said was that they don't have much spare capacity in their branch network for both their own customers and also N&P's customers.

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