I've been here two days.. Which bank would be best for me?

I'm sure this subject has been pounded into the ground, but I need help deciding and  thought it was time to bring it up to date. I arrived on Sunday and I'm trying to get everything sorted out here.. NI Number, NHS, name on bills etc.. So my question is what are the best banks for US expats? I'm looking for a checking account and savings account option, somewhere I can eventually get a first UK credit card. My husband banks with Halifax and I would prefer not to. Their customer service has been horrendous in my previous experiences. I've been reading the horror stories about HSBC on this forum, so I don't think I'm interested in them lol. I'm in London, so I know there are many establishments to choose from. Plus, I accidently brought about $700 cash I forgot to deposit in my US account before flying out and I need to exchange it for pounds. Any idea where I can get the best exchange rate at? Any advice or recent experience dealing with this dilemma is appreciated!

When I first came over in 2007 I banked with Lloyds.  They were fine, but nothing to write home about.  When they finally agreed to give me a credit card, the interest rate was ridiculous because - even though I'd been with them for several years - I was new to the UK and a "credit risk."

Two years ago or so we switched to First Direct, and they've been excellent.  Friendly and helpful on the phone - which they answer directly without you having to press a thousand buttons to get through automated menus - and happy to give me a credit card with a reasonable rate immediately.  Maybe that's because I'd been in the UK for a few years and established credit, but either way they're a better bank overall.

Hope that helps.

Do you think it would be ok to start with Lloyd's (to establish credit) and then a couple years later switch to a bank with better interest rates for a credit card? I just need something to get me started for awhile. I won't be looking for work until after our June wedding (already married just planning a celebration for family and friends). So the payroll thing isn't an immediate issue.. Just need something to get started with. Does Lloyd's have good customer service?

Does Lloyd's have good customer service?

Lloyds' customer service was ok.  The thing that bugged me most was even after 3 or 4 years of banking with them - enough time that they could see how much money I make and what kind of risk I was - they still wouldn't give me a decent rate on a credit card, and wouldn't give me a loan.  When we went into the bank to see if it would be easier dealing with them in person, they were apologetic, but still couldn't help because their computer system said I was a risk.

Do you think it would be ok to start with Lloyd's (to establish credit) and then a couple years later switch to a bank with better interest rates for a credit card?

The thing is Lloyds didn't give me a credit card until I'd been a customer with them for about 4 years, so I don't think they're the best bet for establishing credit.  If I were you I'd pick whichever bank you like, and then work on establishing credit with them.

I had Lloyds when I first moved here.

I'm all about banking for convenience and there was a Lloyds in the industrial park where I worked, as well as it being the bank closest to my house.

I found their customer service pretty good.  They knew who I was after my first trip in and were always trying to get me a credit card to establish UK credit.  But after a couple of years they still were not able to get me one.  At that point, I had met my husband so I moved over to Barclays.  They've been fine but don't "know" me like they did at Lloyds.

They knew who I was after my first trip in and were always trying to get me a credit card to establish UK credit.  But after a couple of years they still were not able to get me one. 

That's the thing about Lloyds; they're perfectly nice when you're in the branch, and they genuinely want to help you, but if the big Lloyds computer says you can't have a credit card, then you can't have one.  I found that a little strange that there was no leeway for the branch people to make a decision.

I suspect - but don't know - most other big name high street banks are similar.

At that point, I had met my husband so I moved over to Barclays.  They've been fine but don't "know" me like they did at Lloyds.

So how do you like Barclays? Are they good with new customers, particularly foreign? I don't mind having a joint account with my husband, but I also want a seperate one too! Hoping I can find one nearby and go from there.

Barclays is fine.  Typical big bank.  Lots of products and such.  We have a joint account together and individual accounts.  It's super easy to move money back and forth on the app on our phones.  I've had to do a couple of wire transfers back to the US and they've always waived the fee which has been very kind.  My bank in the US has NEVER waived the fee.  lol!

Once nice thing about Barclays is that they are partners with Bank of America, so when I go back I can withdrawal cash from my Barclays account with no transaction fee.  They also don't charge foreign exchange fees. 

I would change my money at the PO they do not charge you

I started out with Lloyds and they gave me a credit card (with a pretty decent credit limit) within a year of opening my account. That said, I also used American Express's global transfer thing to get a UK AmEx card that (theoretically) was based on my US credit history, so I don't know how much that helped. (FWIW, my UK AmEx credit limit is lower than my Lloyds card.)

If you are near Edgware Road there are loads of Bureau de Change, they don't charge commission and their rates are much better than any bank or the post office.  If you aren't, look for Bureau de Changes around you.

I'm looking for a checking account and savings account option

I can't recommend a bank to you, as I have worked for 4 different UK banks, and IMO they are all terrible.

Just a quick tip... in case you didn't know... a 'checking' account is called a current account here, and lots of them have phased out chequebooks.  So that's something you might want to ask about if you want to use cheques.

We started with Lloyds 2 years ago without any problems.  they have since been bought by TSB which is good.  Simple banking but I agree with other posters...not a bank to establish credit with.  Neither I or my husband are able to get a credit card through them.  So we went another route.  We were able to  start with Aqua credit card and then transferred the balance to a Barclay credit card for better rates and a zero % on all balance transfers for almost a year.  Pay it off before then and you are good to go.  Try comparethemarket.com just to get an idea of what is out there for newbies. Good luck!