problems with coop cashminder account

richie999

I recently discovered today that my account was overdrawn which was a suprise to me as I thought that you could not be overdrawn on a cashminder account. Anyway I phoned them up to explain that I had been reffering to both the itnernet banking account balance which said what I had avilable as well as what the ATM had said as well when requested a balance. I was told that both can be INCORRECT as transactions take longer to come out of account sometimes. I did understand this before but I was NOT looking at the account balance I was reffering to balance avilable amount which was also incorrect , the lady then told me that I had to pay the overdraft back today as there was still some more transactions unaccounted for otherwise my account would be closed and she said as I was bankrupt shed doubt anyone else would take me. Anyway in the end I had my family gave me the money to pay the overdraft back and the matter was settled. I was a bit suprised though, firstly with how the coop balance system works where the balance shown on the cashmachine isnt what you actually have so whats the point in showing it and secondly the attiude of the first woman on the phone where most coop bank staff have been friendly and polite, has anyone else been in this situation and is there an easy way of keeping track of your balance without having to write everything down !!!! cheers richie

nervousmother

co-op are well known for their 3 strikes and your out rule, but they normally give you 2 chances! The co op account is well known for taking ages to update.

I personally use a book keeping programme that i can monitor the account on. She was probably a jobs worth has had a hard week at work.

richie999

lol thanks well they sent me 2 letters craftlyone on the 12th aug showing 2 transactions and one on the 13th aug showing 3 very small amounts being deducted this is why she said if i didnt pay today then on monday more transactions would come out and my 3rd letter issued and my account would be closed I did ask her for whole amount outstanding both now and future debits and paid this off

nooneringsmeanymore

the best thing to do is use there telephone banking and make sure you get through to an operator because they always seem to have the up to date balance

Tinytim

Richie, the easiest way to make sure this never happens really is to use a pocket book Even if all you ever do is keep a running total whenever you use the debit card, you can't be wrong.

crispqueen

Hi - I had direct debits refused by the co op on my cashminder account and they cancelled all my direct debits

I then got a letter to say they `no longer wish to retain my banking business¬ - I realise that I should`ve had the money in for the dd`s to come out, but one of them tried to take money a day earlier than usual - anyway it all resulted in 3 strikes and I was out as Nervousmother said!

I`ve just phoned them and now theyre telling me they`l keep the account open for use with my debit card - though I have to get a new one now and a new pin etc - then after 4 months, and if I`ve behaved they`l look at it again - I find that acceptable enough

Is this standard practice?

Its just the letter I got was very final but after phoning them, they`re now prepared to give me a bit of leeway
I just hope this is going to work cos my benefits, and hubbys wages get paid into this account and I dont want to be left up the creek with out a paddle
Any thoughts appreciated:o

miss_spooky

I personally think that with the amount of tecno around these days I can't see why Co-Op can't have a running balance with transactions pending. All the other banks manage it. I did open two accounts for BR, 1 for dd & 1 for everyday living, but the OR has told me I'm only allowed one. I also keep all my card receipts and bin them once they have cleared. It's not perfect but it helps to keep a total of what's going on.

I am going to write to them with this as other than upgrading software I can't see why there should be an issue with the Acct bal & avail bal being the same.

b-man

i try and leave about 30 quid buffer in there at all times. none of my bills are normally much more than that - its hard though when youve got no cash!

wayforward_2

miss_spooky wrote: »

I did open two accounts for BR, 1 for dd & 1 for everyday living, but the OR has told me I'm only allowed one.

When i phoned co-op pre BR to open the accounts i told them i was going BR and they let me open 3! 2 joint - for bills and living and 1 single for my SE transactions - i called them today to tell them the OR has no interest in the accounts and they said that was fine and they wouldn't freeze them!

Can't understand why the info isn't consistent!