Intelligent Finance Current Account

Intelligent Finance has closed my current account after 20 or so years. ~That's loyalty... not.

The current account was a good one, despite not having an app or fully functional bank card, but it will be consigned to history on 1 August 2023 when all current accounts are closed. IF is a division of Bank of Scotland plc which is part of Lloyds Banking Group. It looks like IF savings accounts will survive, but of course they would, as these banks need the capital to lend to someone else at a higher interest rate than they pay savers.

Been with them 13 years. Over the years their interest rate has reduced to a measly 0.5%. Instead of suggesting another IF product, they wrote to me recommending I consider another bank because of their own appalling interest rates. What a way to do business.

They used to be a forward thinking bank of the future during the days you thought you could trust banks. Sadly they are now a mickey-mouse bank that strangles you by reducing interest rates to the tune of 0.05% per annum (8 Sept 2014).

Not sure who is running the bank these days but they are only interested in getting rid of good clients, not looking after them. In any other industry the more business you do with a company the better they look after you. 13-years and they treat customers without debt like this. Avoid like the plague. Totally rubbish IF you are a disgrace to the banking industry. Very disappointed - they are clearly not interested in looking after customers any more.

Ghastly - I've been with them 10 years and it counts for nothing. They treat you like s**t - the managers that is not the people you speak to on the 'phone who are generally lovely and do their best but they are up against the 'system' which is like a power-crazy dalek going around sucking the life out of you crying 'apply more charges - apply more charges!!!' I have just been charged £30 for going less than £5 over my arranged overdraft - absolutely ridiculous. Trouble is I don't imagine any other banks are any better. They are completely intractable, uncaring and constantly bleat that there is 'nothing they can do'..... No wonder the Scots have such a reputation for being so tightfisted. Intelligent Finance is anything but intelligent - they are mean, mean, mean, uncaring and stupid. And I bet the managers take home a bl**dy fortune for sitting around all day just saying 'no'. AVOID!!! Have included one star above because the system wouldn't let me put no stars but if I had my way it would be NO stars.

IF was once a fairly good bank but now they are absolutely shocking. They used to offer offset accounts, high interest rates and good service. Today the rates are some of the worst, their internet banking hasn't been updated in nearly five years and there's almost no support to speak of.I have had two accounts with them. I have never been able to get statements for one of my accounts. It seems their IT system cannot handle more than one "plan" for a single person.If you take a credit card with them you'll find that you have to log into a different internet banking website to your current account. In my case that meant remembering four different usernames and passwords to access my current accounts and credit cards.When they were bought out by Halifax they went and changed my credit card account from IF to Halifax without telling me. I was meant to sign a credit agreement which they never sent either. Because I didn't sign they locked up my card and refused to issue another one. This also happened to a friend of mine who was also with IF.Whatever you do, stay far, far away from Intelligent Finance. Their business is anything but intelligent and will only cause you major headaches.

Overall, the Intelligent Finance current account is a good account. It is simple to use; no-frills essentially, but also able to offset against mortgage.