Co-Op Cashminder Account

nik_k

My wife has just rung Co-Op to open a new Cashminder account. The Co-Op man told her she would have a decision in 3/4 days, after their underwriters have looked at the application.

Is this normal? Because the accounts are not credit checked, only id checked, I presumed the decision would be made immediately?

iquit

This is standard practice, most of us bankrupts were told this and now have cashminder accounts. As we have a bank holiday weekend don't expect anything before next week, you could always ring them on Wednesday to get details of account.

nik_k

Thanks for the quick reply

Good to hear its standard practice...apparently the guy is going to call my wife in person next Thurs to give her details of the account

YamahaR6

I went in to my local branch today and opened an account, all seemed to go fairly well without any hassle to be honest. They did say to me that opening accounts in the branch was quicker and easier than doing it over the phone though because they can actually 'see' who is applying. Quite why that makes a difference I don't know!?

desperatetobedebtfree

Applied for my Co op cashminder today and it was also "referred" girl on phone told me not to worry as was very common with these accounts

fiveyearplan

Yes, that is fairly normal.

joobeez

Yes, same here, just don't go overdrawn for god's sake - lost my account that way.

philnicandamy

joobeez wrote: »

Yes, same here, just don't go overdrawn for god's sake - lost my account that way.

Hmm thats the small print they seem to forget to mention......go o/d 3 times and the co-op WILL close the account

just one thing to remember...:D

Worri373

Hi, Just read your Cash Minder query. I applied for a Cashminder account over the telephone on Friday. The man said it was referred and he would call me by Tuesday to let me know. I heard nothing so I called this morning and a lady told me the account opened on Monday!