Smile is an Internet only bank. To be honest, they make me want to do anything but smile. I opened the account about 5 or 6 months ago, as at the time I was considering getting a loan. I've sorted all of that out now and I found better deals from my existing Internet based bank, Cahoot and also another online only one, Egg.
I didn't bother getting the loan from Smile, but I did open a current account. Now usually I don't bother reading the terms and conditions for current accounts as there is nothing that you really need to look out for. Or so I thought. I've just received a letter from them saying as agreed by accepting the terms and conditions, I need to be paying in over £1,000 a month.
At first I thought I had read it incorrectly so I read it again. I read it right the first time. I have never known this be a condition of opening an account and it seems very silly. It's basically to get people to use their Smile account and probably use it as their main account.
I'll be sending them a message saying I'll be closing the account, because I don't want to be paying in that much money a month when I have other accounts with other banks that have much better better online banking sites, quite frankly the Smile one is pretty rubbish.
Since when did any bank have such a childish condition as part of their current account terms?
So, if you're in the UK and get a new account, be sure to aviod Smile as they certainly won't be making you smile by sending you pointless letters. What about people that don't earn £1,000 a month after tax and national insurance has been paid? Those people won't be able to pay in that much and they would have to call Smile to make them aware of the fact.
The amount of accounts that are available these days, banks should be trying to keep customers not push them away with stupid conditions. It makes me wonder what else Smile have in their terms and conditions.
Maybe I should have read them, I usually would, but not when opening a current account. There is not normally anything this unreasonable in them. To say it for the last time - Smile is silly, avoid opening any sort of account with them, unless you want to and can afford to meet their demands.
I'll be shortly closing my account with them, but I've not got any reason to be sad about it.Post ID: 669, posted by jase at 11:45 PM
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