Rejected from opening up a current account?!

simplymegreg

I suggested to my friend to open up a second current account to their original one. This second account would be the purpose of paying debts - so it would act as a cash flow regulator.

Money would be paid in to this second account weekly (is a weekly standing order possible) from the first account where the weekly salary is paid into.

The circumstances:
Loan outstanding for around 3k
HP agreement outstanding for around 2.5k
Overdraft on the original current account at £750 with Abbey

Even after telling HSBC whom the second account was attempted to be opened with, that NO credit facilities were required - they still rejected.

Why is this? How is it possible to get around this? Try another bank?

Thanks

jonesMUFCforever

Yes try another bank.
Reading between the lines your mate's credit score not too hot?

book12

I would advise your friend to open a basic bank account instead of a current account. Basic bank accounts don't provide credit facilities.

456789

Hmm did HSBC offer a basic account? - with me what they did was that they said they would do the full current account application and then if it didn't let me have that they would give me a basic account

simplymegreg

No they didn't.. Perhaps it was just down to the employee not offering this? She just said that my friend had not achieved enough "points" apparently to open up an account.

Perhaps it's a good idea to apply over the internet to cut out the middleman, afterall its a computer that decides even if applying over the phone anyway!

456789

Well if you look at the basic bank account topic barclays and co-op tend to be the most accepting for basic bank accounts so maybe try them

pwinky69

I just got refused a nationwide flexaccount online. i dont have any debt apart from my mortgage. No overdraft, credit cards etc. Also didnt want any overdraft. Was simply opening the account so i could overpay nationwide mortgage online to avoid hassle of going into branch with cheque. Did they not like me cos i didnt want to use it as my main account or what?

FrenchMaid_2

as far as I know banks don't like you to have a bank account if your main wages do not go in... lots of bank take a rather dim view...

ShelfStacker_3

simplymegreg wrote: »

No they didn't.. Perhaps it was just down to the employee not offering this? She just said that my friend had not achieved enough "points" apparently to open up an account.

If it was for a secondary account, BBAs aren't supposed to be opened as one. They're last-resort type things. If you can get banking facilities elsewhere then they'll take it that you don't need one.

Kavanne

ShelfStacker wrote: »

If it was for a secondary account, BBAs aren't supposed to be opened as one. They're last-resort type things. If you can get banking facilities elsewhere then they'll take it that you don't need one.

Eh!? What is this? Where did you learn this magic piece of info?

jonesMUFCforever

Kavanne wrote: »

Eh!? What is this? Where did you learn this magic piece of info?

It is true - Banks lose money when opening these accounts why would they want to open more than one for the same customer?