Basic Bank Account & Debit Card Update
Comments
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Yes. My credit rating is very poor and I was able to get one. The ReadyCash is a basic bank account so pretty much anyone with a poor credit rating should be able to open one.0
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............but they don't give them to people who already had a minibank card!£61.20 x 20p today (start date 07/03)
£184.00 x £2
:j0 -
They will, tell them you've lost the card.
Clydesdale wrote to me saying my single function card is being replaced, and if I lost my card > June 13th then I'd automatically be sent a debit card
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Everyone wins 0
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Kilty wrote:Difference is (or so I am lead to believe) that Maestro can allow you to go overdrawn without an authorised overdraft.
Maestro/Switch/Visa Debit cards are not always checked by the retailer to see if you have sufficient funds, until transactions reach a certain amount. This means that you can go overdrawn, authorised or not and would mean you'd incur bank charges.
Solo/Electron cards require authorisation by the issuing bank for ANY transaction and are refused if there is not enough funds in the account.
Looks like a bad idea for a basic account to me, but its just what Clydesdale/Yorkshire Bank is doing. I've been told my Clydesdale Bank account's card is being changed to Maestro, where I'd have previously been inelegible for one since I'm under 18. (although they still say that their student account does not come with a a dual function card if the applicant is under 18, and they are now making me change my account to a student/current account
)
Summary of my rant: Maestro is good because of wide acceptance, but always ensure you have enough in your account to cover purchases as there's a chance the money will be taken anyway, leaving you in the red, overdraft facility or not!.
This is right, its know as a step limit where no auth code is needed and can only happen on maestro, delta, visa and mastercard.
usually negotitated between the retailer and the card sevices bank. In the case of supermarkets eg. My co-op it is 30.00
Hope that helps0 -
Ah, also called the "floor limit"? ... its the amount of money a transaction can clear for without having to be authorised? ...... correct?
Not just a pretty face
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Just to get this right If I "lose" my minibank card with Clydesdale they will send a debit card out automatically?
I've seen some Lloydstsb cards that are just a visa debit and cashpoint but not A cheque Guarantee card so are they going the same way????Isn't the knowledge that comes from experience more valuable than the knowledge that doesn't?0 -
itsarichmansworld wrote:Just to get this right If I "lose" my minibank card with Clydesdale they will send a debit card out automatically?
As far as I know, yes.0 -
I took the plug and opened on of these accounts on last friday with no problems. The very friendly advisor said that they would look into upgrading my account in 2-3 months. Only problem is that they recently closed the branch in my home town, so its a 17 mile trip to the nearest branch.
The card arrived on wednesday morning, just waiting for the pin to arrive.0 -
dongagon wrote:I took the plug and opened on of these accounts on last friday with no problems. The very friendly advisor said that they would look into upgrading my account in 2-3 months. Only problem is that they recently closed the branch in my home town, so its a 17 mile trip to the nearest branch.
The card arrived on wednesday morning, just waiting for the pin to arrive.
The downside to Basic Bank Accounts is that they fail to cater for those who, for whatever reason can't manage a PIN.
They do not offer a Chip & Signature facility. Methinks this is social exclusion. Any thoughts?0
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