TSB Classic Plus application - *warning*
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Actually, the main point I intended to make, which I completely forgot about during the course of writing, is that MSE normally flags up products or services that would require a good credit rating, so you don't waste your time, but it hasn't in this case.
I think most banks require a good credit rating for products. That's the norm and doesn't need stating, makes sense really.
mse often flags up the ones that offer products to those with less than good credit ratings.
Best adjust your expectations to fit the system because the system won't adjust to fit yours!:)0 -
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Thrugelmir wrote: »Banks are in business to make a profit. Quality of the customer matters. Opening bank accounts isn't simply a numbers game.
Well, I was mainly going to use it as a savings account, so their loss.0 -
I think the implied point is, you risk getting a credit search on your record which will affect your changes elsewhere, etc, etc.Well, I was mainly going to use it as a savings account, so their loss.0
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Well, I was mainly going to use it as a savings account, so their loss.
As I see it, they're £130 up already. Plus they can get cash on the market for a lot less than the 3% AER you would have charged them.
You haven't really thought this through have you.0 -
After seeing the MSE deal (on the MSE compare-best-bank-accounts page.............
While it wasn't mentioned explicitly, it became obvious that a credit check had been carried out.......
Anyway, my warning is this - if you have a less than average credit rating, it is unlikely that you'll be accepted, and furthermore, you won't know you've been rejected for about a week.
Point number 5.
http://www.moneysavingexpert.com/banking/compare-best-bank-accounts0 -
At the top of the application page it says:
Even though you didn't specifically ask for an overdraft, there's a possibility that you would create one.
A standard bank account usually comes with an off-line debt card, which means the card can be used without the card machine checking with your bank that you have funds to cover the transaction.
Also, since when does any cash machine dispense cash without checking the available balance first? Nonsense.0 -
Contactless transactions can be made without any authorisation from the bank, and if you make three or four of those before a PIN is required, you could easily become overdrawn.I came into this world with nothing and I've got most of it left.0
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Shakin_Steve wrote: »Contactless transactions can be made without any authorisation from the bank, and if you make three or four of those before a PIN is required, you could easily become overdrawn.
Thats simply not true - the card can be set to always go online (even with contactless transactions) otherwise Nationwide FlexBasic and pre-pay issuers wouldn't offer the facility.
Reading between the lines, the OP actually has an issue with being accepted then declined.
I had a similar experience (with TSB) whereby they opened the account, then froze it, pending paper ID. As it had funds, I was basically forced to take an afternoon off work to go into a branch. Luckily, I was able to terminate my account switch though.0 -
Isn't it outrageous that I wasn't accepted for a banking product?!:mad:
No. It's not.0
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