Bank account ruining my life

Mrs_Ryan

Its probably A&L messed up ur credit.... they've done exactly the same thing to me. Messed it up so bad I cant move!!! Watch out with A&L... they will put a missed payment marker on your account even for going £1 over!!! they put 2 missed payment markers on mine when I hadnt even done anything wrong!!
Barclays rejected me as well...

chrisleonard

hmm so im stuck with A&L because im not downgrading!

This aint right this really isnt

staffie1

chrisleonard wrote: »

so true, even so im not even asking for ANY CREDIT just somewhere to store and access my money and im being told no, so my conclution is banks dont want my money they want my debt and me to pay them back for it which is totally wrong.

There has to be something that can be done I dont want a kids account i just want a good account good online banking and a card accepted everywhere, NO CREDIT.

Chris, you will probably find that all banks do a credit check on applicants regardless of whether credit facilities are offered or required. They do this predominantly to verify your identity. I presume you are on the electoral role too..?

The best option is to take a look at your credit file even though you will have to pay a fee to see information about yourself (:mad: ) and get any errors corrected.

By the way, have you tried the bank you currently have your mortgage with? As they know you, they may not bother with running a credit check anyway...?

Nick

Extant

Calchas wrote: »

Why, in general, do we seem to accept that the burden of proof lies with us and, what's more, pay to see something we never even asked for or endorsed in the first instance?

Have you ever switched banks? Taken out a credit card, or an unsecured loan? If you have, sorry, but you've endorsed credit scoring.

Back in the olden days, most people just did not have bank accounts. If you wanted one, you would make an appointment to go and see your local bank manager and he'd decide. Basically you'd go and grovel to him, and then you'd pay for the privilege of having your account and using it. Believe it or not, free banking did not always exist...

If you then wanted a loan or anything, you'd be back to the branch and they'd decide based on your income and your account and so forth. If you hadn't banked with them before and had no securities (i.e. no house to take a charge on [forms 552 for old school Barclays staff]) then you would have no chance in high hell of getting a loan.

Then comes the wonderful invention of credit scoring: information on your behaviour is recorded and accessible, so that if you want to go to X instead of Y, you can. Competition increases. Customers get better deals. Free market wins.

No more groveling. Better protection for the banks, building societies, etc. to bad debt. Access to hundreds, probably thousands of financial services providers.

Surely these agencies are taking us for a ride.

Except they're not: they're in open competition with each other, so you can pay a variety of different prices for a variety of different services. You can even pay nothing and get a free credit report.

We should be able to demand payment every time they give out false information to a third party that has an adverse effect on us.

This has actually already been tested in court before. At least one person has challenged under the same rules that protect your privacy from junk mailing, others have sued for libel and lost.

The reality, however, is that no information would be passed on unless you had a business relationship with the reporting financial institution. Keep your affairs in order and you will have no trouble.

olly300

Apart from the information already posted all banks and building societies have to verify your ID and the likely source of any income you deposit with them due to money laundering laws.

You can actually sign up with experian for a free credit report trial and as long as you cancel it before they start charging you will not be charged. http://www.experian.co.uk/creditreporttv/?sc=410006

Extant

chrisleonard wrote: »

Hi

Bolt statment but its true, i just applied for Barlclays standard current account and they declined me, i dont want any credit, overdraft or cheque book just a "current Account"

Our standard current account is a credit scored product as it allows access to all of those things. As such, we don't offer the product to people who do not meet certain criteria. If we did, a customer in the same position as you could potentially be given a current account, and then hold it for long enough that the "bad" elements of their credit report "fell off" and then apply for credit - a potential risk.

They just fob me off with Experian says no write to them, I dont care about Experian they do a good job in messing everything up and charging you for it anyway.

Sorry, but we care what Experian says - we have a responsibility to our shareholders not to lose money, and we would lose money if we didn't use credit scoring.

So where do i go from here am i stuck with the worst account ever "A&L" forever or is there a way around this.

Apply for a basic account, be it with Barclays or anyone else.

When i was 18 i messed up my credit now im 26 and have a mortgage and £30k a year but barclays dont seem to want my money even though i have £8k to put in there savings.

It's not about "wanting" your money or not. It's about limiting our exposure to risk. The fact that you have £8,000 does not do this - we cannot accept it as a security or a guarantee.

Hermann

BarclaysManager wrote: »

we have a responsibility to our shareholders not to lose money,

BarclaysManager wrote: »

It's about limiting our exposure to risk. The fact that you have £8,000 does not do this - we cannot accept it as a security or a guarantee.

Lol ..... Now if only banks genuinely followed such a philosophy with all their dealings, the industry ....indeed the country.... would be in a much better state!

Its a shame such notions are reserved purely for the areas they're of least relevance and completely lacking in the areas where they would save us all a fortune.

Calchas

BarclaysManager wrote: »

Have you ever switched banks? Taken out a credit card, or an unsecured loan? If you have, sorry, but you've endorsed credit scoring.

Your analogy is a nonsense: one doesn't give support or approval to something purely by using it!

Back in the olden days, most people just did not have bank accounts. If you wanted one, you would make an appointment to go and see your local bank manager and he'd decide. Basically you'd go and grovel to him, and then you'd pay for the privilege of having your account and using it. Believe it or not, free banking did not always exist...

Whether banking has ever been truly free is a debating point; however my granny says that, when she was a girl, banking was free: indeed, banks only tried to charge when they had weaned the working class from earning their money in cash. Many people didn't want accounts: they were forced into having them!

Granny also says her local manager was a very nice man. He didn't talk down to her like these modern people do. Some of these modern managers, she says, would probably come on line and act in a patronising and arrogant way. Her local manager had a bit of dignity about him, she says.

If you then wanted a loan or anything, you'd be back to the branch and they'd decide based on your income and your account and so forth. If you hadn't banked with them before and had no securities (i.e. no house to take a charge on [forms 552 for old school Barclays staff]) then you would have no chance in high hell of getting a loan.

Granny agrees, responsible lending she calls it, although she is not sure if hell exists. She bows to your superior knowledge, you being a banker and all.

Then comes the wonderful invention of credit scoring: information on your behaviour is recorded and accessible, so that if you want to go to X instead of Y, you can. Competition increases. Customers get better deals. Free market wins.

No more groveling. Better protection for the banks, building societies, etc. to bad debt. Access to hundreds, probably thousands of financial services providers.

Are you for real?

Take your eyes out of those rose tinted Barclays sunglasses for a minute and read a newspaper!

Calchas

BarclaysManager wrote: »

Sorry, but we care what Experian says - we have a responsibility to our shareholders not to lose money

:rotfl: BarclaysManager is at it again. :rotfl:

Is BarclaysManager delusional?

Does BarclaysManager actually consider he / she is doing Barclays a service by coming on here and spouting pure, unadulterated claptrap?

Watch this space!

There will be more to come! :eek:

Is this Bob Diamond in disguise?

demotw

Calchas wrote: »

:rotfl: BarclaysManager is at it again. :rotfl:

Is BarclaysManager delusional?

Does BarclaysManager actually consider he / she is doing Barclays a service by coming on here and spouting pure, unadulterated claptrap?

Watch this space!

There will be more to come! :eek:

Is this Bob Diamond in disguise?

actually what he is saying is completely true, and personally as someone who opens account i wouldnt want it any other way. The amount of money banks have to write off due to badly run current accounts, just look at the current market conditions now, how many people are writing off overdraft debts with iva/bankruptcy.
Credit scoring isnt a perfect system by any means, but is the best we have at the moment, and i doubt for a minute their ever will be a foolproof method of being able to decide who is going to run a good/bad account prior to the account being opened.
Barclays cash card account will allow an accout that does not go through credit scoring (although a CRA search is completed), this will allow someone to open an account if they are low on credit scoring currently, and when they have a cash card this is no reason they cant keep trying to upgrade it, just not to many credit scores in a short period normally i suggest keep the account for a year and get a good financial history so if the credit score is still low we have a chance to appeal. Thats right!, we are able to appeal automatic decisions if their is a genuine reason, ie. debt on credit rating shouldnt be there, although you would need to prove this, and we would send it to our "underwriters".