DMP - New Bank account advice needed

Moustacheman

I have just recently begun proceedings of entering into a DMP. The first thing that the CCCS told me to do was to get a new "Basic Bank Account" with a different bank (currently with Natwest), where my wages could be paid into. I am very wary of going into a different bank and trying to sort an account out due to my poor credit rating and the fear of being refused. Does anyone have any advice on where the best bank to try is and if you can apply for a basic account online anywhere?

poppy52

There are no credit checks with basic bank accounts - just identity checks. I have one with co-op called Cashminder. I think you can do it online; it comes with an Electron card but no cheque book.

rainbowseeker

Hi moustacheman,
I'm at the same stage as you trying to arrange a DMP (following advice from National Debtline site). I too was afraid of being declined a new account due to poor rating, I was declined for an HSBC current account early last year and that was before I got into debt when my credit rating was pretty high. (Last time I opened an account was years ago, you walked in with a driving licence and maybe a bill and Bob's your uncle, opened right then and there. Now it's so much more complicated, I'm surprised they don't ask for a blood sample!!)
Anyway on reading someone else's advice, think it was poppy2, maybe carolbee, I opted for the co-op account, filled in the application online and have received a welcome pack in the post, but 'subject to a few formalities, we have approved your application in principle.'
Make sure you apply for the cashminder one which is the most basic, because I applied for the normal current account and had to go into my local branch to explain I wanted the cashminder. I think this is why my welcome pack is subject to condition because they're in the middle of doing a credit check. So still waiting.

keith_lard

could you post the link for the co-op one cant seem to find it (online application)

Thank you!

K.

murphy2

You have to call them number is on the website icouldnt seem to get it to work on line !!. i have just set up an cashminder account with them ,All seems good so far, but it did take afew weeks to get set up.only cos they had a backlog of applications. services are online, phone banking and a debit card.

jellycat40

I got a co-op bank account with a cashpoint card. No credit checks you call them and my application got referred and then I got the account.

Woolwich also do a basic account which has no credit checks also they have a saving account which you can have your wages paid into and it gives you a cashpoint card. You can't pay dd or so from it though.

Louise

Moustacheman

Thanks to all for their help. One question though:

Do you have a credit check done when applying for a basic bank account?

I was told that you do but advice above suggests otherwise.

poppy52

There is no credit check if you have a basic bank account. All they do is check whether you are on the electoral roll.

rainbowseeker

Yes Keith, sorry, there's no online application for the cashminder (as I say, I was a dipstick and applied for the wrong account and had to go in branch to sort it out, the online application was for the normal current account). Obviously you can apply in branch, but on the website it tells you to call 08457 212 212, so probably you can set it up over the phone. Hope that helps.

rainbowseeker

Also as regards credit check, sorry maybe I caused the confusion. When I realised that I applied for the wrong account, I phoned helpline and the guy told me to go in branch, they would 'clone' the application for me and transfer it to the cashminder, so this I did. But the lady in branch did tell me that they were in the middle of doing a credit check for the original application (drat - all I needed!), and no, credit checks not normally applied for cashminder, just id check.

mrelephant_2

Moustachman

may i ask why you were advised to set up a new bank account? why couldn't you use your previous one?

Derek