Co-op Bank Who Is Linked???

POPS_2

HI, ive just opened a co-op bank acc, as i am in reducing my creditcard payments. I am at present with barclays but i dont want them to close account when i start making reduced cc payments. Can anyone tell me if the Co-op are linked to any well known credit cards? Thanks

Merlinexcalibur

with barclays but i dont want them to close account when i start making reduced cc payments.

What would probably happen is that Barclays would start taking money from your account to your Barclaycard. Not that they would close your account. Unless you have an overdraft that has gone on for a while, missed monthly fees and just allowed it to go pot ie unauthorised.

The Co-Op has a basic bank account for people with debt difficulties.

Can anyone tell me if the Co-op are linked to any well known credit cards?

Don't know but I would imagine that sensibly that would only matter if you were considering taking another card out. And that it was, indeed, with the same bank eg Coop.

But, no BC and CO are totally separate entities. If I understood your question properly.

alidai

Smile are a subsidiary of co op dont know if that helps

Merlinexcalibur

Wait ...

as i am in reducing my creditcard payments.

Are you saying you have a credit with the Co-op or is that a typo?

Merlinexcalibur

Good. As it's now on this thread I will reply here. What I was saying, and this is very common, is that Barclays may potentially remove any money from your bank account to pay your BC off. It's what happens. So I guess, that's why you've opened the Co-Op account. If not, I would ASAP and take any transfers, wages etc transfered over tomorrow if you can. I now understand better what you were saying. I did before, but just needed clarification.

POPS_2

Merlinexcalibur wrote: »

Wait ...



Are you saying you have a credit with the Co-op or is that a typo?

Hi everyone thanks for replies. I didnt make my post very clear did i, sorry. I dont owe co-op any money at all, but what i didnt want to happen was to open account and then one of my creditors who i have reduced payments with start taking more money off me. I have creditcards by tesco, beneficial, egg, barclays. I dont have any overdraft with barclays. Hope i explained better this time. Thanks

POPS_2

Merlinexcalibur wrote: »

Good. As it's now on this thread I will reply here. What I was saying, and this is very common, is that Barclays may potentially remove any money from your bank account to pay your BC off. It's what happens. So I guess, that's why you've opened the Co-Op account. If not, I would ASAP and take any transfers, wages etc transfered over tomorrow if you can. I now understand better what you were saying. I did before, but just needed clarification.

Thanks merlin, i dont know if im posting my replies in the right way, but i hope you get this. Many thanks for advice i will do that tomorrow.

Merlinexcalibur

I dont have any overdraft with barclays.

Point I was making is that if you did that is only when your bank account would be affected. Whilst BC and your bank account are 2 entities money would be potentially removed from one to pay the other. But your account would still exist. And, yes, the bank is entitled to do it.

So, might be an idea now not to get a credit card with the Co-Op. Then all will be well.

POPS_2

Hi Merlin thankyou for the advice, i wasn't going to take out a credit card with Co-op, but just wanted to get my income paid into co-op so barclays cant take it off me, thanks for time you have taken to reply.