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basic bank accounts + ID process
stephen_james
Posts: 8 Forumite
Hi all
As I understand it, there are several different types of basic bank account, which for the purposes of what I am wondering about, break down in to two main types: a) where a credit check is undertaken when you apply; b) when there is no credit check done.
And there aren't many in category b), where no credit check is done. BUT there is at least one account where it isn't done, as the bank/building society understand that there are people who may have a questionable or unhealthy-looking credit record who are still deserving of an account and who don't need to be credit-checked since the bank account under consideration is not one that is offering any credit to the individual: you are not getting an overdraft or credit facility, or chequebook, it's just for paying stuff in and withdrawing that.
Nationwide have one of these accounts in category b), it's called a Cashbuilder I believe (or Cashbuilder Plus). I've got a friend who applied for and successfully got one of these - the woman in the Nationwide branch confirmed they don't do a credit check.
I'd be interested to know which of the other basic bank accounts around are of this kind - definitely involving no credit check? if anyone knows.
But my main queries/interest points are to do with the rest of the application process for this 'nationwide cashbuilder' type basic bank account.
Ok, so no credit check is done. Obviously, you still have to provide ID and proof of address, as with any bank account application.
On the ID side, Nationwide like all banks are supposed to accept other forms than simply Passport or driving licence with current address on it - eg a letter from the benefits agency confirming entitlement (if that is your situation in life).
If you provide ID this way - a benefits agency letter - do you need to provide, as well as that, a second form of ID at point of application? I've heard that if you don't provide ID of the 'passport or driving licence' type you may have to provide a second form of ID. Is that right?
On the 'proof of address' front, that's easy enough - it's the usual, 'utility bill' or suchlike.
But I have two other queries. You have to fill in the form when you apply for a basic bank account, giving details of your 'other' bank account that you have and how long you've had it. What if you haven't got one (like me)? Does that info on the form affect the processing of your application after the woman's taken your ID in the branch and you've left?
Also, do they really just use the ID you give them - say, a benefits agency letter - to pass your application, after you've left the branch. a) does it get checked on a system (say, looking up your NI number and address). More pertinently, b) do they look you up on the electoral roll and make a judgement about you that way?
As you can see, I'm wondering what else gets done to verify you/pass your application, once you've given in your proof of ID and address at the point of application in the branch. it doesn't say anything anywhere about thes things. I know my mate who has the Cashbuilder Nationwide basic account, was asked, *after* he'd given in the application form and showed his ID and proof of address to the person processing his application, in the branch, he was asked if he was on the electoral roll and for how long. It had already been implied his application was accepted when he provided the 'proof of ID' and 'address proof' (utility bill) but he still got asked the question about the electoral roll which made him wonder afterwards.
My position is that I'm wondering about these things as I don't have a passport or driving licence (in fact, I have an old paper driving licence but it doesn't have my current address on it, and my mate who had the same thing when he went in to the branch was told it was irrelevant because the address wasn't his current one). So I'll be giving in a letter from the benefits agency (presumably just an ordinary letter about a payment coming to me). And I wonder about the other stuff that happens after you've supposedly given them all they need (ID and proof of address) - eg while they don't do a credit check, do they do an electoral roll check, do they cross-check your NI number against records, do they even check your date of birth I wonder (!). I am concerned on the electoral roll front as I am on it, but have only been on it about 6 weeks at my current address - I was on it for more than 3 years at the previous address.
So that's kind of an extra question - when making an application for a basic bank account, does the *length* of time you've been on the electoral roll really matter or not when you apply, if you were at your previous address for a fair while. Would anyone have any experience of making such an application? (or similar)
Does anyone know the answers to the above points. Am keen, eg, not to lose time in making an application that got rejected because of some factor I don't know the full story about; also, don't want to be rejected by say Nationwide if there aren't many basic bank accounts that say they *don't* do a credit check - this one may be one of my few chances to get an account.
Thank you in advance for any info! Great site this, by the way...
As I understand it, there are several different types of basic bank account, which for the purposes of what I am wondering about, break down in to two main types: a) where a credit check is undertaken when you apply; b) when there is no credit check done.
And there aren't many in category b), where no credit check is done. BUT there is at least one account where it isn't done, as the bank/building society understand that there are people who may have a questionable or unhealthy-looking credit record who are still deserving of an account and who don't need to be credit-checked since the bank account under consideration is not one that is offering any credit to the individual: you are not getting an overdraft or credit facility, or chequebook, it's just for paying stuff in and withdrawing that.
Nationwide have one of these accounts in category b), it's called a Cashbuilder I believe (or Cashbuilder Plus). I've got a friend who applied for and successfully got one of these - the woman in the Nationwide branch confirmed they don't do a credit check.
I'd be interested to know which of the other basic bank accounts around are of this kind - definitely involving no credit check? if anyone knows.
But my main queries/interest points are to do with the rest of the application process for this 'nationwide cashbuilder' type basic bank account.
Ok, so no credit check is done. Obviously, you still have to provide ID and proof of address, as with any bank account application.
On the ID side, Nationwide like all banks are supposed to accept other forms than simply Passport or driving licence with current address on it - eg a letter from the benefits agency confirming entitlement (if that is your situation in life).
If you provide ID this way - a benefits agency letter - do you need to provide, as well as that, a second form of ID at point of application? I've heard that if you don't provide ID of the 'passport or driving licence' type you may have to provide a second form of ID. Is that right?
On the 'proof of address' front, that's easy enough - it's the usual, 'utility bill' or suchlike.
But I have two other queries. You have to fill in the form when you apply for a basic bank account, giving details of your 'other' bank account that you have and how long you've had it. What if you haven't got one (like me)? Does that info on the form affect the processing of your application after the woman's taken your ID in the branch and you've left?
Also, do they really just use the ID you give them - say, a benefits agency letter - to pass your application, after you've left the branch. a) does it get checked on a system (say, looking up your NI number and address). More pertinently, b) do they look you up on the electoral roll and make a judgement about you that way?
As you can see, I'm wondering what else gets done to verify you/pass your application, once you've given in your proof of ID and address at the point of application in the branch. it doesn't say anything anywhere about thes things. I know my mate who has the Cashbuilder Nationwide basic account, was asked, *after* he'd given in the application form and showed his ID and proof of address to the person processing his application, in the branch, he was asked if he was on the electoral roll and for how long. It had already been implied his application was accepted when he provided the 'proof of ID' and 'address proof' (utility bill) but he still got asked the question about the electoral roll which made him wonder afterwards.
My position is that I'm wondering about these things as I don't have a passport or driving licence (in fact, I have an old paper driving licence but it doesn't have my current address on it, and my mate who had the same thing when he went in to the branch was told it was irrelevant because the address wasn't his current one). So I'll be giving in a letter from the benefits agency (presumably just an ordinary letter about a payment coming to me). And I wonder about the other stuff that happens after you've supposedly given them all they need (ID and proof of address) - eg while they don't do a credit check, do they do an electoral roll check, do they cross-check your NI number against records, do they even check your date of birth I wonder (!). I am concerned on the electoral roll front as I am on it, but have only been on it about 6 weeks at my current address - I was on it for more than 3 years at the previous address.
So that's kind of an extra question - when making an application for a basic bank account, does the *length* of time you've been on the electoral roll really matter or not when you apply, if you were at your previous address for a fair while. Would anyone have any experience of making such an application? (or similar)
Does anyone know the answers to the above points. Am keen, eg, not to lose time in making an application that got rejected because of some factor I don't know the full story about; also, don't want to be rejected by say Nationwide if there aren't many basic bank accounts that say they *don't* do a credit check - this one may be one of my few chances to get an account.
Thank you in advance for any info! Great site this, by the way...
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Comments
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Why don't you just get a post office account if you are so worried about credit checks?
To be honest no one can really answer your question because everyone has a slightly different credit history.I'm not cynical I'm realistic
(If a link I give opens pop ups I won't know I don't use windows)0 -
a lot of useful info in http://forums.moneysavingexpert.com/showthread.html?t=3197360
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You may be confusing credit check and credit score. Anyone offering a basic bank account will almost certainly do a credit check to make sure you aren't bankrupt, however they probably won't do a credit score.0
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barcalys cash card - no credit check done, but a credit search to confirm the address. you can also open this account if you've been declared bankrupt. you can also get visa debit card (connect electronic)0
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Why don't you just get a post office account if you are so worried about credit checks?
To be honest no one can really answer your question because everyone has a slightly different credit history.
Sorry what Post Office account? They don't do one - not a bank account anyway. The one you may be thinking of can only be used for the receipt of benefits and the only mathod of withdrawal is cash over the counter at the PO. It's basically an electronic pension book.0 -
Posted this on another thread:
http://forums.moneysavingexpert.com/showthread.html?t=1652727
Easiest account to open is a Halifax Easy CashCard - its chip and pin not a cashcard as in a savings account - its a no thrills no frills account
You can apply for a better card and this is the minimum you will get - all online0
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