new bank account problems

btn2000

Hi there, I am a new user and this is my first post. I have been reading a lot of the posts on here and I can see this is the place to be for my predicament. I have a lot of unsecured debt, and I am self-employed. For the past year I have been battling against the tide paying off loans and the minimum payment on credit cards. But I am getting nowhere with the amount of interest put on the cards by the lenders. So I have decided to do something about it. I talked to the national debtline, and they said before I do anything I have to open new bank accounts. They suggested a few my debts are not linked to, including HSBC, but i went there today and I was declined. Does anyone have any suggestions which basic bank accounts I can open, or will I face the same as what happened with HSBC? I don't know if its a hindrance, but I have to put cash in, as opposed to the BACS system, as I don't get a wage due to my self-employed status. Thanks.

injaroc

Have you tried Natwest? I found them to be the most helpful when I was trying to get a basic account for my mother even told them about her debt status and why she needed to open it.. Tell them that you need a basic account no overdraft or any extras on it. They managed to open it there and then for us and gave the acc details before we left. She still has a debit card that she can use in the shops (I think maybe a solo card?- not too sure)

Abbey also opened one for me however they did try to open a normal account for me even though I said I wanted a basic one and then declined that and opened the basic one for me.

Did HSBC offer an alternative for you or did they just decline you ? And did they know it was a basic account you were looking for or did they try to open a normal one for you ?

btn2000

It was a basic one, and they didn't try to give me another one. I don't know if its because I am self-employed, or my credit rating is dire, or because of thew size of my debts. unfortunately I ahve a credit card with natwest, so thats a no-no.

jennihen

I went to the Job centre (even though I was working) and they gave me a letter to take to the Post Office which allowed me to open a very basic account. It stopped the bank charges eating up all my wages.
Hope this can help you.

Tixy

You should be able to get a basic bank account - there are some that are available to un-discharged bankrupts. The only time peopl usually have problems is if there is a problem with verifying your identity - are you on the electoral register? There is no credit check for a basic bank account so this should not be an issue.
http://www.moneymadeclear.fsa.gov.uk/pdfs/bank_accounts.pdf
This is a link to all the ones available. Co-op cashminder is well thought of by quite a few on DFW.

Welcome to the site by the way. Hopefully you'll find loads to help you with our financial situation.

btn2000

Thanks Tixy, hopefully as things progress I will post the amount of my debt and the breakdown. Read that the Co-op account is well thought of on here, the problem is that they don't have a branch in my town. However, I've noticed that you can deposit through the Post Office - do yuo know if they charge to make deposits through the Post Office? Thanks

littleangels3

I have a basic bank account with co-op & no they dont charge to pay money in through post office & funds are cleared immediatly

DarkConvict

Easiest bank accounts to get, are the basic accounts from co-op or barclays. Try those banks.