OP Bank versus Nordea, what's your experience

Muddy Zuk · Post by **Muddy Zuk** » Sat Feb 23, 2008 6:54 pm

I have been called by OP Bank asking me to come in for a meeting as they would like me to switch from Nordea to them? I have no issues with Nordea but OP want me as a customer and think they can improve rates on my card and loan, to me i have the cards in this equation as they are calling me, not me to them?
Anybody have any experience of both these banks?

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EP · Post by EP » Sat Feb 23, 2008 8:41 pm

I have two accounts in Nordea and one in OP. I put money to OP at a stage when I wanted a loan, and Nordea didn´t promisise me one, OP did. I have an impression that OP´s charges are a higher than Nordeas, but I have not really checked it. Go to OP and talk about loan interests. They may well give you a better deal than the one you have with Nordea.

I have a friend who makes "the lowest loan interest" tour of banks just about yearly.

raamv · Post by **raamv** » Sat Feb 23, 2008 9:27 pm

I ve used both... Nordea's charges are more than OPs. Nordea doenst give loans beyond a certain limit )( Though lately after our first one with OP, they seem to give us the same amount as OP. I am in the process of putting an excel sheet with the rats we received so far..but asaik, OP has a better rate than Norde).
Ive compared insuraces from both also ( IF and Pohjola). If you are a member of YTY; then Nordea is better as you get a massive discount on the car and Life insurance ( Only reason we are sticking with IF for now, but I ll reevaluate in 6 months or so. ALso, Nordea will give S bonus after June or so of this year) Otherwise, Pohjola has improved vastly on the coverage and their offering. Also, the Bonus that you earn paying your loan back to OP can be used to pay your premium, thereby reducing your OP's insurance fees.
Its always better to visit banks every year or so ( I do it) to check on each of the offerings.
Another thing with banking with OP is that you also qualify for a personal loan of 5-8K with them. Nordea has a max of 3-5k, all depending on your salary.
OP also has a K bonus visa card.
For now, we re sticking with OP but once I evaluate the current offers we have, we dont know.
Since they are inviting you, I would press for a hard bargain. reduction of rate, discount on insurance premium, etc..and no fee services. OP does have no fee services where as when we had our account with Nordea, they were charging €3.5 monthly for nothing..

dampa · Post by **dampa** » Sun Feb 24, 2008 10:31 am

Nordea is like Hell for me here

I wish I could just give those old woman workers there a nice slap for a change

Rosamunda · Post by **Rosamunda** » Sun Feb 24, 2008 4:41 pm

We have everything with Nordea: the mort gage on our home, personal accounts, savings accounts, kids' accounts, the football club accounts, my Oy.... I have no grumbles. I do everything on-line in English which is, for me, a real plus. The on-line banking is easy to use and all the "help" info is in English so I never need to ask my SO to pay bills for me etc . The kids don't pay any charges on their accounts and neither does the football club. We used to have a few other accounts scattered around (Aktia, Sampo etc) but we have gradually shut them all down. We have some kind of key customer arrangement with Nordea so we aren't hit too hard with charges. We get currency exchange for free and probably a few other benefits.

greenhorn · Post by **greenhorn** » Sun Feb 24, 2008 5:47 pm

oh Nordea, I feel so pissed off due to them. I have my salary account with them for more than 3 years now. I forgot the PIN of my bank card and they charged me 5 Euros for giving the PIN, which was same as the old one.

5 Euros for PIN !!!!!!!!!!

Rosamunda · Post by **Rosamunda** » Sun Feb 24, 2008 7:21 pm

Well I doubt very much Nordea is the only bank that hits you with a fee for sending you a PIN reminder.

greenhorn · Post by **greenhorn** » Sun Feb 24, 2008 7:35 pm

Hmm, it might be that other banks are charging it as well. Still 5 € is bit too much to me. Earlier when I was their key customer then I had lesser charges. Tough luck, I didn't forget my PIN then. Now they have raised the bar for key customers. I guess may be more than 50.000€ or such.

The fact that hurt most is that they send you the same PIN, and when you see it, you are like, Oh yeah !! this was it. Atleast they could have sent a different PIN

And if I am not wrong, you can't change the PIN to some number that you don't easily forget.

buldozr · Post by **buldozr** » Sun Feb 24, 2008 8:22 pm

raamv wrote:OP also has a K bonus visa card.

So does Nordea, if you're talking about Plussa card combined with a Visa banking card.

raamv · Post by **raamv** » Mon Feb 25, 2008 1:27 am

buldozr wrote:
raamv wrote:OP also has a K bonus visa card.
So does Nordea, if you're talking about Plussa card combined with a Visa banking card.

the plussa card gives p*ss for bonus as compared to the S kortti!! so If you are getting screwed in all your ends..tough luck..
Moreover, a recenbt survey done in HS came to the conclusion that S is way better than K ( But Lidl is better than S in terms of price but not in terms of bonus)..
So even if I have a plussa card..its more like a p*ssa card..

raamv · Post by **raamv** » Mon Feb 25, 2008 1:30 am

penelope wrote:We have everything with Nordea: the mort gage on our home, personal accounts, savings accounts, kids' accounts, the football club accounts, my Oy.... I have no grumbles. I do everything on-line in English which is, for me, a real plus. The on-line banking is easy to use and all the "help" info is in English so I never need to ask my SO to pay bills for me etc . The kids don't pay any charges on their accounts and neither does the football club. We used to have a few other accounts scattered around (Aktia, Sampo etc) but we have gradually shut them all down. We have some kind of key customer arrangement with Nordea so we aren't hit too hard with charges. We get currency exchange for free and probably a few other benefits.

Problem with Nordea is still the bureaucracy witb regular customers ( apart from key accounts)...Even if you were a key account holder..they dont give as much loans as OP.
One of the key reasons we quit Nordea..as If you are not the elite..you are a nobody..

Rosamunda · Post by **Rosamunda** » Mon Feb 25, 2008 9:18 am

Well we do 99.999% of everything on-line so not too bothered about the red carpet and champagne on the one or two occasions per year when we need to walk into the branch. And that was my point... having a good internet banking interface is the most important thing when choosing a bank as far as the day to day stuff is concerned. But I get your point... it probably depends on "who" lives near your local branch. We bank in Iso Omena which is basically a hands-on, bog standard, high volume branch not serving a particular elite (Matinkylä, Olari....). Maybe there are too many divas in your neck of the woods

Karhunkoski · Post by **Karhunkoski** » Mon Feb 25, 2008 10:44 am

greenhorn wrote:Hmm, it might be that other banks are charging it as well. Still 5 € is bit too much to me.

Don't take this as a personal attack but this is the way I see it:

The process of you getting a new PIN invloved someone having to read your request, look up your PIN and then arrange it to be sent to you (including paper, envelope and postage cost). That could easily take 15 minutes. Assuming the average bank clerk gets paid 15 euros/hour and the overheads of employing someone (insurance, taxes, holiday pay, a toilet, the toilet cleaner, etc.) can easily double that, 5 euros doesn't sound such a bad deal now does it? Or do you expect that people like me (who are careful to not forget their PIN), should subsidise the cost for you?

greenhorn · Post by **greenhorn** » Mon Feb 25, 2008 12:19 pm

Karhunkoski wrote:
greenhorn wrote:Hmm, it might be that other banks are charging it as well. Still 5 € is bit too much to me.
Don't take this as a personal attack but this is the way I see it:

The process of you getting a new PIN invloved someone having to read your request, look up your PIN and then arrange it to be sent to you (including paper, envelope and postage cost). That could easily take 15 minutes. Assuming the average bank clerk gets paid 15 euros/hour and the overheads of employing someone (insurance, taxes, holiday pay, a toilet, the toilet cleaner, etc.) can easily double that, 5 euros doesn't sound such a bad deal now does it? Or do you expect that people like me (who are careful to not forget their PIN), should subsidise the cost for you?

Good point, fair enough. Apart from Finland, in other countries, they don't charge anything. But overhead is involved, and I accept your point.

The bank should then overhaul the system. It should not take more than a click of button to generate a new pin and to be printed with the address. Still overhead will be there as in postage expense, etc and don't I pay something every month for the Bank card ? (I don't remember, but something like 1€ every month)

Anyway, I am not ranting, just telling that I think Nordea charges a bit higher than other banks.

blaugrau · Post by **blaugrau** » Mon Feb 25, 2008 12:29 pm

I would have to say that I know that several banks in different countries charge a fee if they have to replace your forgotten pin. Apart from the real costs this restorement causes them, I would assume the fee is intended also as a means to deter the customers from being too careless with security and causing the bank work from which they derive no profit.

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