choosing a bank account

Vyvyan

Hello there,

Iam looking to move my bank account as part of an informal agreement I wish to set up with my creditors. Due to the recent bank mergers with other banks Im left a little confused as to what banks own/run others, and I have been advised to move my account from abbey to prevent them from freezing any monies I have with them.

I currently Bank with Abbey (graduate account with £500 overdraft) and I hold credit card debts with Egg, Marbles, Abbey, halifax and Barclays.

Can anyone advise what banks I could go for, that aren't linked with the ones I've mentioned above.

Many thanks!:D

Deep_In_Debt

Hi
I can think of Natwest, Nationwide and I think Lloyds.

SunderlandBlackCat

Alliance & Leicester are about to have the same parent company as Abbey (Santander Group).

Vyvyan

hey deep in debt, thank you for that.

I signed up for a natwest graduate account two weeks ago, but I haven't recieved anything through the post from them. I went to my local branch to enquire and it seems there's no account opened for me, the person there advised it may have been lost or there maybe a problem with it, im awaiting a call back from the person who opened the account for me.

Additionally, I had friends who weren't happy banking with natwest but i thought I'd give them the benefit of the doubt, I was looking at other options just in case...

thanks again.:o

Deep_In_Debt

Sorry to hear about your problems with Natwest - it's a pain.

I can also think of HSBC or Co-op?

Vyvyan

I think i will try HSBC if Natwest are no good, there's no co-op in my town and nationwide are just an agent not a branch.

Opening a bank account doesn't go on your credit record does it?

Deep_In_Debt

Hi
I think it does go on your credit record.

Can't think of any other banks to try, I'm afraid.

They way things are at the moment, all my suggestions may be useless anyway!!!

Vyvyan

Well, I think I've been unsucessful with Natwest then! I'll have to wait and see!

thank you again.

fizz190

Do you need/want an overdraft? If not, I'd advise you go for a basic bank account as they only run a fraud check, not a full credit check.

I have one with lloyds that has the advantage of a proper debit card (ie not electron!) but the disadvantage of only being able to withdraw cash from lloyds machines.

I personally think that, where possible, going overdraft free is the best way to start on the road to being debt free. Less tempation