6 ms·

I'm a customer of Hoare's. AMA.

by throwaway981238 7y ago

whitepoplar 7y ago
What're some surprising facts about it that are unexpected to an outsider?
- throwaway981238 7y ago
  There's a well in the cellar of their head office. The partners (who I kinda assumed would be silent) are actively involved in day-to-day decision-making about stuff like lending and new customer applications (I met with one of the partners when I applied for an account and he then had to get the agreement of his partners before they accepted me as a customer). Their online banking service is a lot slicker than I expected. While they obviously make an effort to preserve their offices in the traditional style you see in the photographs in the linked article, I get the impression that, behind the scenes, they employ totally up-to-date technology. They donate a significant chunk of the bank's profits to charity, through the Golden Bottle Trust - https://www.hoaresbank.co.uk/sites/default/files/styles/The%20Golden%20Bottle%20Trust%20-%202017.pdf https://www.hoaresbank.co.uk/sites/default/files/styles/The%... Their pens are really good.
fredsted 7y ago
What do they provide you that's worth the extra fees?
- throwaway981238 7y ago
  Peace of mind. I know that they're not going to kneejerk shut my account just because I received a bank transfer from a cryptocurrency exchange. I trust them more than I trust the regular high street banks to not try to screw me with hidden or unfair fees. If anything ever happens to me, I feel like they'll be helpful to my wife and family, whereas a regular bank would just shrug and say "Sorry, can't help!" By the way regarding the "extra fees", the standard account fee (£60 per month) is waived if you keep at least £25,000 in your account, and normal day-to-day online personal banking transactions are free so I don't actually pay any more fees than I would with a normal bank.
forgotmysn 7y ago
any specific disadvantages to Hoare, or are there things that you miss that you enjoyed with a more trad bank?
- throwaway981238 7y ago
  I think Hoare's is probably as "traditional" a bank as you can get! :) Joking aside, the only shortcoming I can think of is that, if I instruct a Faster Payment (i.e. a bank transfer) over the weekend, it doesn't get processed until Monday morning. Newer "challenger" banks like Starling and Monzo process Faster Payments 24x7. Other than that, it's a full-service bank.
ggm 7y ago
Do you still get the leather chequebook cover like a purse my mother had when she banked there? Is there still a commissionaire with a top hat at the door?
- throwaway981238 7y ago
  I didn't get a chequebook so I don't know but they did give me a nice leather wallet for my cash and cards. They still have a doorman but I don't think he wears a top hat.
epiphanitus 7y ago
Have you ever been to any of the 'evening talks'? What are they on? Are they interesting?
- throwaway981238 7y ago
  I've been to one talk, about the history of the bank, followed by a tour of the bank's museum. It was very interesting, and I'd like to go to more but it's a matter of finding the time. A lot of the talks are about the work of charitable organisations, such as Hospice Africa (www.hospice-africa.org.uk/), Afghan Connection (http://afghanconnection.org http://afghanconnection.org), A Blueprint for Better Business (https://www.blueprintforbusiness.org https://www.blueprintforbusiness.org), Intermission Youth Theatre (http://www.intermissionyouththeatre.co.uk http://www.intermissionyouththeatre.co.uk) and Veterans Aid (https://veterans-aid.net https://veterans-aid.net). Details of some of the talks are listed at https://www.hoaresbank.co.uk/events https://www.hoaresbank.co.uk/events
mruts 7y ago
Do they provide in and out services?

I'm a customer of Hoare's. AMA.

whitepoplar 7y ago

What're some surprising facts about it that are unexpected to an outsider?

throwaway981238 7y ago
There's a well in the cellar of their head office. The partners (who I kinda assumed would be silent) are actively involved in day-to-day decision-making about stuff like lending and new customer applications (I met with one of the partners when I applied for an account and he then had to get the agreement of his partners before they accepted me as a customer). Their online banking service is a lot slicker than I expected. While they obviously make an effort to preserve their offices in the traditional style you see in the photographs in the linked article, I get the impression that, behind the scenes, they employ totally up-to-date technology. They donate a significant chunk of the bank's profits to charity, through the Golden Bottle Trust - https://www.hoaresbank.co.uk/sites/default/files/styles/The%20Golden%20Bottle%20Trust%20-%202017.pdf https://www.hoaresbank.co.uk/sites/default/files/styles/The%... Their pens are really good.

fredsted 7y ago

What do they provide you that's worth the extra fees?

throwaway981238 7y ago
Peace of mind. I know that they're not going to kneejerk shut my account just because I received a bank transfer from a cryptocurrency exchange. I trust them more than I trust the regular high street banks to not try to screw me with hidden or unfair fees. If anything ever happens to me, I feel like they'll be helpful to my wife and family, whereas a regular bank would just shrug and say "Sorry, can't help!" By the way regarding the "extra fees", the standard account fee (£60 per month) is waived if you keep at least £25,000 in your account, and normal day-to-day online personal banking transactions are free so I don't actually pay any more fees than I would with a normal bank.

forgotmysn 7y ago

any specific disadvantages to Hoare, or are there things that you miss that you enjoyed with a more trad bank?

throwaway981238 7y ago
I think Hoare's is probably as "traditional" a bank as you can get! :) Joking aside, the only shortcoming I can think of is that, if I instruct a Faster Payment (i.e. a bank transfer) over the weekend, it doesn't get processed until Monday morning. Newer "challenger" banks like Starling and Monzo process Faster Payments 24x7. Other than that, it's a full-service bank.

ggm 7y ago

Do you still get the leather chequebook cover like a purse my mother had when she banked there? Is there still a commissionaire with a top hat at the door?

throwaway981238 7y ago
I didn't get a chequebook so I don't know but they did give me a nice leather wallet for my cash and cards. They still have a doorman but I don't think he wears a top hat.

epiphanitus 7y ago

Have you ever been to any of the 'evening talks'? What are they on? Are they interesting?

throwaway981238 7y ago
I've been to one talk, about the history of the bank, followed by a tour of the bank's museum. It was very interesting, and I'd like to go to more but it's a matter of finding the time. A lot of the talks are about the work of charitable organisations, such as Hospice Africa (www.hospice-africa.org.uk/), Afghan Connection (http://afghanconnection.org http://afghanconnection.org), A Blueprint for Better Business (https://www.blueprintforbusiness.org https://www.blueprintforbusiness.org), Intermission Youth Theatre (http://www.intermissionyouththeatre.co.uk http://www.intermissionyouththeatre.co.uk) and Veterans Aid (https://veterans-aid.net https://veterans-aid.net). Details of some of the talks are listed at https://www.hoaresbank.co.uk/events https://www.hoaresbank.co.uk/events

mruts 7y ago

Do they provide in and out services?