Basic Account to "Normal" Account upgrade advice needed.

young_victor_meldrew

I haven't been a perfect angel in the past with my finances, though I am now making improvements and taking a more responsible approach!

Does anyone have any experience of a bank that will upgrade your basic account based on performance of the account itself, i.e - proving you can manage things properly?

I am currently with the Halifax and they do not base applications for new products on the performance of your actual account, they treat it as a brand new application!

Someone suggested HSBC - though I can not see any evidence of this, any advice anyone?

classworthy

My credit standing leaves a lot to be desired and in March 2008 I opened a Step account with Natwest. I ran it without causing any problems and without asking it was upgraded to a 'normal' current account in February 2009.

Less than a year and without asking for it. I must have done something right.

Also, I have a TSB Basic account. Tried for an upgrade but no chance at present. Try again in 6 months they say.

No thanks, I say. Sticking with Natwest. I know it's not the bank of favour with many people on this list but I have not had any problems at all. Maybe I'm the only one in the country that can say that but I don't care. They have been good for me.

Seems to me that if you run your account OK they will upgrade. No doubt there are many who will say otherwise but it worked for me

spindo

classworthy wrote: »

My credit standing leaves a lot to be desired and in March 2008 I opened a Step account with Natwest. I ran it without causing any problems and without asking it was upgraded to a 'normal' current account in February 2009.

Less than a year and without asking for it. I must have done something right.

Also, I have a TSB Basic account. Tried for an upgrade but no chance at present. Try again in 6 months they say.

No thanks, I say. Sticking with Natwest. I know it's not the bank of favour with many people on this list but I have not had any problems at all. Maybe I'm the only one in the country that can say that but I don't care. They have been good for me.

Seems to me that if you run your account OK they will upgrade. No doubt there are many who will say otherwise but it worked for me

Thanks for letting us know that it is possible to get your NatWest Step account upgraded. Did you get 'invited' to apply for an upgrade or did they just upgrade it? By what you said it would appear the latter.

I opened my Step account in April '08 and no automatic upgrade or invitation to upgrade as yet.

jonesMUFCforever

First of all get a copy of your credit files - if there is not anything adverse on there you are half way there to get a decent account.

classworthy

spindo wrote: »

Thanks for letting us know that it is possible to get your NatWest Step account upgraded. Did you get 'invited' to apply for an upgrade or did they just upgrade it? By what you said it would appear the latter.

I opened my Step account in April '08 and no automatic upgrade or invitation to upgrade as yet.

I got home from work one day and there was a letter saying that they had tried to contact me and would I ring the following number as soon as possible.

I presumed it would be bad news as nothing good ever happens to me. So, I rang the number ( my local branch ) and asked for the manager as his name was on the bottom of the letter. The person who answered the 'phone said that he wasn't available and checked the system to see what it was about. I was informed that as I had run my account without any problems I could be upgraded to a 'normal' Current Plus account if I wish.Yes please, I said and a few days later received a Maestro card and welcome pack.

Not quite sure how you view that. Invite or Automatic? all I know is that I never asked for it, but, I never turn anything down ( within reason ! ).

To be honest, I did make sure that I only used Natwest cash dispensers wherever possible and used my Solo card as much as possible. Whether this made any difference or not I cannot say. All I know is that I got upgraded without asking for it. I had planned to ask about upgrading after about 12 months but Natwest beat me to it :j

sutton111

classworthy wrote: »

I got home from work one day and there was a letter saying that they had tried to contact me and would I ring the following number as soon as possible.

I presumed it would be bad news as nothing good ever happens to me. So, I rang the number ( my local branch ) and asked for the manager as his name was on the bottom of the letter. The person who answered the 'phone said that he wasn't available and checked the system to see what it was about. I was informed that as I had run my account without any problems I could be upgraded to a 'normal' Current Plus account if I wish.Yes please, I said and a few days later received a Maestro card and welcome pack.

Not quite sure how you view that. Invite or Automatic? all I know is that I never asked for it, but, I never turn anything down ( within reason ! ).

To be honest, I did make sure that I only used Natwest cash dispensers wherever possible and used my Solo card as much as possible. Whether this made any difference or not I cannot say. All I know is that I got upgraded without asking for it. I had planned to ask about upgrading after about 12 months but Natwest beat me to it :j

Well done.

Natwest don't upgrade from their Step account to a Current Plus account, they would of done an application for you, which would involve a credit check. If you check Equifax and or Experian you would find a credit search from them.

I take it they gave you a new account number?

classworthy

I did check and as you point out a search was done. Not unexpected and one of the reasons why I never think anything good will happen as my credit standing is/was not so clever ( although I am trying hard to improve it ).

Also, I did receive a form that the telephone person had pre-filled in which I signed and returned before the Maestro, Servicecard 100, was issued. I have a new account number and paying-in book.

sutton111

classworthy wrote: »

I did check and as you point out a search was done. Not unexpected and one of the reasons why I never think anything good will happen as my credit standing is/was not so clever ( although I am trying hard to improve it ).

Also, I did receive a form that the telephone person had pre-filled in which I signed and returned before the Maestro, Servicecard 100, was issued. I have a new account number and paying-in book.

I thought as much!

Your credit rating much be improving, normally you would get a Solo on the Current Plus account to begin with if your credit is a little iffy. They then they would issue you with a Servicecard 100 a few months down the line.

Anyway congratulations.

jambosans

I think the issue with "basic" bank accounts is that because they do not offer things like an overdraft, no credit check is necessary. So when you want to upgrade you have to go through a new account application with a credit check. Unless the account is designed to allow credit facilities to be added I would imagine in most cases you will have to apply for a new account. Even applying for a new account can still be positively effected by the banks internal scoring based on your other accounts conduct, etc.

Tribulation

Been with Lloyds for just over 8 years with a joint basic account (plus wife has her business account with them)

Apart from one returned DD in the first month it was open (due to various payments such as money going in not being fully operational) in 8 years the account has been run perfectly with 10 DD's going out each month, always enough money to cover them etc.

Time and time again they've phoned us or told us when in the bank that their computer screen says we can now be upgraded to a normal account. Time and time again they've made an appointment for us and we've gone down there only for them to tell us that whoever told us that was mistaken and it wont let them upgrade us.

Our experian credit report is nothing but green zeros for both of us.

Applied for a Natwest account, got accepted, service card, £500 overdraft, chequebooks etc.

Goodbye Lloyds, wife will be moving her business account away from them very soon.