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No Credit Check Savings Account?
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# 1
Frugal Housewife
Old 04-03-2012, 11:04 AM
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Question No Credit Check Savings Account?

Hi
I got some money for my Birthday (only a small amount) I have decided I want to open up a savings account so that I can put it there so I don't fritter it away or use it on bills as I would like to save it for a rainy day.

I am in an IVA though so when I asked my bank (co-op) about their online saver they told me they do credit checks so obviously I cant use them.

Are there any basic savings accounts or building societies or something that I can use?
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# 2
opinions4u
Old 04-03-2012, 11:08 AM
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While many places will carry out a credit check they won't decline you for a savings account.

Consider local building societies, credit unions, Halifax etc.
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# 3
MoneySaverLog
Old 04-03-2012, 11:36 AM
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Co-op though will decline savings accounts for people who are in IVAs as the OP says.
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# 4
Frugal Housewife
Old 04-03-2012, 10:02 PM
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So basically anyone but co-op?
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# 5
MoneySaverLog
Old 04-03-2012, 10:10 PM
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Yes, don't know why they are picky, but appearently you can potentially have two cashminders but no savings account with them.
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# 6
Frugal Housewife
Old 04-03-2012, 10:18 PM
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Thanks very much for your help
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# 7
Ifts
Old 05-03-2012, 1:46 AM
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Quote:
Originally Posted by Frugal Housewife View Post
Are there any basic savings accounts or building societies or something that I can use?
These threads in these links might be of use to you:
http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=29219
http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=34113
(and the site itself may also be of interest to you).

Some people commenting on there with an IVA have managed to open a savings account with Yorkshire building society, Norwich and Peterborough BS, Barclays, Nationwide and Natwest. Natwest seems a favourite on there.

Quote:
So basically anyone but co-op?
Even mentioned on there peeps are having problems with co-op!

I'm not entirely sure but I didn't think savings accounts required credit checks, I thought that was only for current accounts. I may be wrong on that, maybe someone in the Know can clarify that for you.
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Last edited by Ifts; 05-03-2012 at 1:59 AM.
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