Co-op Cashminder Declined :(

YamahaR6

Not sure what to do now. Went into the branch to apply for this, all seemed to be going swimmingly, they said everything was fine and no problem and to wait for paperwork to come through. So I waited...and I waited... rang them today to be told that it's declined but if I try again in 3 months time I may be ok.

Any suggestions?

philnicandamy

are you on the electoral role? could there be anything untoward on your credit file??

you could try barclays & see what they say

Bethankim

sorry to hear this petal,

How odd, im with the nottingham branch and had no problem.

did you check they definitely did the cash minder account, it has been know for them to put through the wring account.

have you applied for a barclays basic one?

Rafter

Only possible reason for rejection is some sort of identity check problem or a fraud marker on your credit file with experian or equifax? Worth appealing otherwise you might be wasting your time trying Barclays as you might get the same answer.

R.

dollparts

Maybe worth looking for any type of marker on your credit report. Might be good to ask Co-Op what their criteria is for opening the account and you could eliminate from there?

I'd give them a ring as well, as your options are limited re who you can bank with it may be worth that extra stab in the dark.

iquit

YR6 please don't give up. I suggest you call the co-op on 0845 602 7057 and tell them you're BR and want to open a cashminder account. Explain you tried in branch and were declined, it's possible they put through an application for a normal account. You could also try Barclays bank for a basic account. Good luck.

philnicandamy

sadly though Iquit its the same criteria applying for a cashminder either in branch or over the phone...so yamaha may be refused again firstly they need to do whats suggestet & have a look at credit files for CIFAS markers or something as even simple as not being on the electoral role would mean you fail an ID check..

philnicandamy

If your really really really really desperate & get nowhere with the co-op or indeed barclays you could look at a managed account although these do charge a monthly fee on top of other things..I do really hate them with a passion to be honest but if you need an account....

http://www.thinkbanking.co.uk/

YamahaR6

hey all, been offline for a couple of days!

i checked today and my OH put me on the electoral roll a few weeks ago, also had another look through my credit files that i ordered a week or two ago and theres something on the CIFAS part from natwest :-s i applied for a natwest account MONTHS ago and it was declined, presumably they had some issues with my addresses. my problem is ive had 6 addressess in the last year due to various reasons so maybe thats got something to do with it?! do the CIFAS bits ever come off your file?

ive managed to get an account with card one banking, which i REALLY loathe having to do cos its £12.50 a month plus 50p for every cash withdrawal, £3 if i need to withdraw more than £250 in a natwest branch plus a whole host of other charges if i want to do various other general banking type things!! but still, its an account and it will have to do until i can get a basic account sorted. ive only been in current address 6 months and im moving again in a couple so im guessing i'll be stuck with a managed account until ive been at my new address for at least 2-3 years. the price i pay i guess

dollparts

YamahaR6 wrote: »

hey all, been offline for a couple of days!

i checked today and my OH put me on the electoral roll a few weeks ago, also had another look through my credit files that i ordered a week or two ago and theres something on the CIFAS part from natwest :-s i applied for a natwest account MONTHS ago and it was declined, presumably they had some issues with my addresses. my problem is ive had 6 addressess in the last year due to various reasons so maybe thats got something to do with it?! do the CIFAS bits ever come off your file?

ive managed to get an account with card one banking, which i REALLY loathe having to do cos its £12.50 a month plus 50p for every cash withdrawal, £3 if i need to withdraw more than £250 in a natwest branch plus a whole host of other charges if i want to do various other general banking type things!! but still, its an account and it will have to do until i can get a basic account sorted. ive only been in current address 6 months and im moving again in a couple so im guessing i'll be stuck with a managed account until ive been at my new address for at least 2-3 years. the price i pay i guess

What a nuisance, and expense you could do without I'll bet.

Have a look at this, though I'm sure someone will be along and can answer you query.

http://www.cifas.org.uk/default.asp?edit_id=568-56

fiveyearplan

philnicandamy wrote: »

or something as even simple as not being on the electoral role would mean you fail an ID check..

FYI - I've never been on the electoral role and Coop opened an account for me instantly over the phone. I told them they would not find me on the electoral role and they said they could still identify me.