Coop Cashminder Account

Quietgirl

Hello,

I don't know if I am just grumbling or what, but after I declared myself bankcrupt in 2002 I opened a cashminder account at the cooperative bank. They said at the time if I ran the account well in 6 months time I would be able to upgrade it. I have never been done for fraud or anything like that. So I have tried on a few occasions to open a savings account but they won't let me, yet I have managed to get a contract mobile phone with t-mobile, get savings accounts at A & L and the Halifax so whats up with the Coop? T-mobile was one of my creditors before I went bankcrupt.

Anyone else have this problem?

pug_in_a_bed

Let's see, I have been discharged since August 2004, with the Co op since then and can't open a savings account either.

But, as my wages don't go in the co op account STILL (a problem down to my employer) then I can see why they won't let me, although I pay them straight in every week via my mum (where the wages actually go). You'd think they'd actually want to start seeing some real cash coming through.

I can only think its the ammount you're putting through. Someone told me to try to get my account as active as possible - like with a direct debit or two, paying bills from my account etc. You could try a bluff on the phone with them and maybe say you're planning on taking your business elsewhere because they won't give you one.

I tell you who prob will if you don't mind one separate from your bank account, I applied for a Sainsbury's one and managed to open it no problem...sort of - I couldn't provide all the id at the time because of my living situation (no bills in my name and so on). I tried with ING and was refused though.

Quietgirl

Hi, thanks for the reply.

I run the cashminder as my main account, my wages and tax credits, child benefit etc go into it and all my bills are paid out of it. I have never been overdrawn or anything. I have a Nationwide flexaccount with E Savings I am thinking of closing the cashminder and going back over to that as my main current account, I would lose the visa electron but then I have one of those cashplus pay as you go mastercards.

jellycat40

Hi there

Co op are notorious for not being very co operative. I had a visa card with them and they only ever gave me a £500 however, they were proved right in the end.

I have a cashminder and so far it is great. the test will be when i declare bankruptcy next month and see if they let me keep it.

Louise

Verbatim

Hi quiet girl.

I had a flyer from Nationwide yesterday to tell me that the interest rate on the flex account is going up in April. Can't recall to what but about 4% I think. Also I think there's a minimum amount you have to pay in each month, perhaps £1000. As you've got this account I expect you know all this but in case you hadn't noticed it..... I thought it's not a bad rate for a current account.

minxymye

QUIETGIRL

I have just applied for a Cashplus Mastercard and when I went to the end of the application it asked for a one off payment for the card and a first month subscription fee of £4.95??? Is this for the creditbuilder as I read up on that and was under the assumption that that was optional and you have to apply to add creditbuilder to your account? There isn't a monthly subscription fee for having the card, is there? I have looked around the site and can't see anything about a monthly subscription fee.

I have got pants credit which is why I have applied for this card, as when I opened my Nationwide account almost a year ago I was only given a cash card (my credit rating was practically in tatters at this stage!). This was a bit of a blow after having a debit card with Barclays but seeing as I reclaimed my bank charges from them I had to open a new account as they were threatening to close the account. I have tried to upgrade to a debit card with them but seeing as I bounced a few DDs I had to wait three months. Then my boyfriend and I tried to open a joint account with Nationwide (I thought seeing as I already had an account with them and apart from the odd DD bouncing was pretty good with my account) but got refused! Then I tried to open a Co-op current account but got refused there too! But was then sent details about the Cashminder account. I was going to go into my local branch and apply for this tomorrow as it's the debit card I want but after reading unpleasant customer comments about the Cashminder account on other forums and hearing about the interest rate going up on Nationwide I don't think I can be bothered now, especially as I have got this nifty cashplus card!

Thanks Quietgirl - if I hadn't read your comment on here I would never have known about this pre paid card! Look forward to your response about the subscription fee...