Evolution Bank Account - is this legit?

revad

Hi everyone,
I have just received an email which told me about a new bank account called Evolution. It claims to have no overdraft charges and no charges for returned standing orders or direct debits.

Does anyone know if this is legitimate or if there's catch. It looks too good to be true.

It's an Internet only bank, search for evolution current account using a search engine.

I don't know whether it's real or not. Any help or advice would be greatly appreciated.

Thanks.

MPH80

The website looks real enough ... but then - do you really want to pay £12.50 a month?

http://www.evolutionbanking.co.uk/what_the_evolution_account_costs.html

Oh ... and 50p for each cash withdrawl ... but hey - they'll let you close the account for free!

And it's apparently backed by these people:

http://www.paymex.co.uk/

M.

cd1951

This is a legitimate account and the banks as well!!

It is a high price to pay for all the 'incidentals'!!

I think we are all going to have to pay for banking soon, as the banks look to recoup money tht they have borrowed.

The best account without a chequebook is probably the Cooperative Cashcard account. You get phone, internet & branch banking (very few branches). It is a basic account, but the Visa card that comes with it does not bear the 'dreaded' Electron logo-just plain Visa Debit!! No charges for the account unless you go overdrawn and then they are now at lower levels than last year!! The phone/internet service is open 24/7 which a lot of banks do not provide!!

opinions4u

revad wrote: »

I have just received an email which told me about a new bank account called Evolution. It claims to have no overdraft charges and no charges for returned standing orders or direct debits.

Instead of charging you for returned standing orders and direct debits, they charge you for other things instead.

Does anyone know if this is legitimate or if there's catch. It looks too good to be true.

Just look at the charges. You'd be better off with a free "basic" bank account and spending 5 minutes a day managing your money.

vanda

has anyone opened one. what type of id do they want. read the bumf and they say no credit searches but co-op said same thing for basic account but they said on the phone they will do a credit search. does anyone know how much per day you can withdraw.

KingElvis

LOL those charges are huge :eek:

BUT, they do issue your PIN number for free, steady there woah etc etc

cifpower

I have a basic account with Northern Bank (Northern Ireland only I'm afraid) and there are no charges for bounced DDs or going into unauthorised ODs

gt94sss2

revad wrote: »

I have just received an email which told me about a new bank account called Evolution. It claims to have no overdraft charges and no charges for returned standing orders or direct debits.

Some of the big banks offer similar accounts (for a monthly fee) and you would probably be better off opening of those if you want an account with no no overdraft charges and no charges for returned standing orders or direct debits - for example, HSBC .. though all the banks will say they are not that popular..

Regards
Sunil

thatsean

How is it too good to be true? Unbelievable certainly! This seems the same as 'think' banking, and other extortionate money management products. you're much better off with a basic bank account..