Debit Cards - Ex Bankrupt

Mikeyorks

kar wrote:

Switch cards CAN get you in a lot of debt - there is £100 gaurentee on them meaning that as long as each spend is under £100 the bank will continue to authorise it even if you are WAY over you OD limit. Don't know about any others as I only have switch.

Bet that doesn't work if you try to draw £100 from an ATM - when there are insufficient funds in the account??

The £100 guarantee only applies to cheques 'guaranteed' on the card. And the Bank will quickly neutralise your account if you regularly use it for guaranteeing cheques where you have no funds. When the card is used at a retail till it is authorised, as part of the transaction, by the 'merchant acquirer' that the till is linked to and who acts for the retailer. The merchant acquirer links back to your Bank and checks the transaction value can be met and gets an authorisation number. No authorisation - and the transaction is voided.

silverfoxdude

sanfrancisco wrote:

What was the credit limit - if you don't mind me being nosy?

Its £1000, I must admit I'm rather gobsmacked at this!!

kevker wrote:

Out of further interest, were Capital One one of your original creditors?

No, not that I recall, although in my bankruptcy were Natwest Credit Cards, and a Mortgage, so I'm suprised, maybe I've slipped through the net??

Tr@cker

Apparently the first thing that dropped through NICK GLEASON'S letter box when he got out of the nick was an offer of a gold credit card with a 10k limit!

livilou

after my hubbies bankruptcy, he never had so many offers of loans and credit cards through the post, one of them was from one of his creditors!!! obviously never applied for them but thought it rather sad that for some it would be an easy option to apply and see what happens and start the downward spiral again

xx

hulltrucker

I was made bankrupt 18 months ago and have banked with Nationwide ever since. Wgen I was discharged afyter 12 months I asked them for a debit card and they refused - even though I have had a credit balance on my current account with them ever since bankruptcy. I have been avoiding the Co-op Cashminder account with the Electron debit card as I owed them some money when I went bankrupt - however I recently called and they have given me the account no problem - didnt even have to present any ID or owt as I previously had an account with them.

I also asked Natwest about thier step account, but the would only let me have the account (which comes with a solo card) if I got a certificate of Discharge from the court, which would have cost me £60.00

Somewhere there is a list of basic bank accounts for bankrupts (I got mine from the National Debt Helpline) but as I recall the only two with a debit card are the Co-op Cashminder and the Natwest Step Account.

Hope this helps - and Sparkle - get a life - bankruptcy can happen to anyone - just hope it dosnt ever happen to you.

sparkle84

hulltrucker wrote:

I was made bankrupt 18 months ago and have banked with Nationwide ever since. Wgen I was discharged afyter 12 months I asked them for a debit card and they refused - even though I have had a credit balance on my current account with them ever since bankruptcy. I have been avoiding the Co-op Cashminder account with the Electron debit card as I owed them some money when I went bankrupt - however I recently called and they have given me the account no problem - didnt even have to present any ID or owt as I previously had an account with them.

I also asked Natwest about thier step account, but the would only let me have the account (which comes with a solo card) if I got a certificate of Discharge from the court, which would have cost me £60.00

Somewhere there is a list of basic bank accounts for bankrupts (I got mine from the National Debt Helpline) but as I recall the only two with a debit card are the Co-op Cashminder and the Natwest Step Account.

Hope this helps - and Sparkle - get a life - bankruptcy can happen to anyone - just hope it dosnt ever happen to you.

I am really sick of people of people on this board having a go a me - in everyone's rush to judge me they seem to have missed 2 important points here,a discharged bankrupt is on here moaning about being refused a debit card he didn't want a Step Account he didn't want a Cashminder account he wanted a Switch card, he also was using a overdraft facility "as and when he needed it" so in just over a year he is back in debt but no doubt this time he can manage it.

I offered this person good advice - you won't get a switch card for another couple of years - when you use a switch at weekend it doesn't go through to the bank, if you check your bank statements you will notice no switch card payments go through over a weekend this is why you will sometime see people on a sunday morning buying a paper with their switch and asking for £20 cashback - they couldn't get it out of a cash machine but you can get it through cashback. This is why banks don't offer them to ex bankrupts for at least 4-5 years.

Oh and one final thing if I get one more nasty PM from people on this board and you know who you are - I will report you and have you thrown off- I have been on the board for a long time I have offered and been thanked for a lot of advice. I didn't make anyone bankrupt it not my fault and if you don't like my advice fine but don't send me abusive emails.

Mikeyorks

sparkle84 wrote:

- when you use a switch at weekend it doesn't go through to the bank, if you check your bank statements you will notice no switch card payments go through over a weekend

I'm afraid that isn't quite correct.

Some Banks don't acknowlege week-ends on their statements - because they don't do their overnight Batch runs on Sat and / or Sun night. The debit has gone through to them - but they don't post it to your account until the first Batch run of the new week. But more and more are running over the week-end - my online account now posts debits / credits on Sat and Sun - something it never used to.

But you're partially right in that some merchant acquirers don't release their calls for funds over the week-end. But the transaction has nevertheless been authorised and the receiving Bank has agreed it / knows it's on its way.

Tr@cker

Sparkle, your're a big mardy !!!!!!!

Broken_hearted

Funny I like sparkle they stand up for themselves and I think the bankruptsy laws are way too soft now.

Former_MSE_Forum_Manager

Hi All

Just a reminder that our overriding rule here is to Be Nice to Other MoneySavers. People are allowed to have different views but i think everyone could do with taking a step back and taking a deep breath. Dealing with facts is always the best way to discuss - bringing personal comments helps no one.

Thanks