could only get a co op cashminder account

uolypool

Hi I went bankrupt in dec 2004 was discharged may 2005 never had any credit since and never really needed a bank account either only dealt in cash ( to ensure that no more debt again) however having to go to post office to withdraw my benefits if sometimes very difficult due to mobility probs so I finally decided to get an account with a bank , I approached barclays for a basic bank account was declined same with natwest finally applied with co op and was given a cashminder account .Glad I have an account but really can't understand why was refused with the others bit cross really

Rafter

Despite claims to the contrary - basic bank accounts are often declined to discharged bankrupts for no apparent reasons.

Your bankruptcy will fall off your credit record in May 2011 (6 years post discharge). It is worth getting hold of your credit record and make sure that everything from before your bankruptcy is shown as 'settled' and not 'default' . If not write to the bank or loan company with a copy of your bankruptcy discharge notice or a letter from the official receiver. You should then be able to get any account you like after the 6 years are up.

Good luck

R.

KingElvis

Your lack of any recent history will count against you too.

Consumerist

Well, it seems you can do all the basics with Cashminder and, if properly conducted for a year or two, will enable you to build up a credit record.

From what you say, you don't really need more facilities. Cheques are on the way out, anyway. You may well get all you need from this account.

Brian_The_Lion

Consumerist wrote: »

Well, it seems you can do all the basics with Cashminder and, if properly conducted for a year or two, will enable you to build up a credit record.

From what you say, you don't really need more facilities. Cheques are on the way out, anyway. You may well get all you need from this account.

Make sure you stick to operating you cashminder with care and attention to things like DD's & S/O's... Co-op operate a 3 strikes policy and are strict at practising it too! You dont want to be back to square one unnecessarily...

uolypool

Many thanks to all of you for your replies , much appreciated:T

Bosie

Rafter wrote: »

Despite claims to the contrary - basic bank accounts are often declined to discharged bankrupts for no apparent reasons.

Your bankruptcy will fall off your credit record in May 2011 (6 years post discharge). It is worth getting hold of your credit record and make sure that everything from before your bankruptcy is shown as 'settled' and not 'default' . If not write to the bank or loan company with a copy of your bankruptcy discharge notice or a letter from the official receiver. You should then be able to get any account you like after the 6 years are up.

Good luck

R.

Actually the bankruptcy will come off December 2010! It runs 6 years from the date you went bankrupt!
I know this from personal experience, this is only extended if they applied a BRO in certain cases.
If it was done from the discharge date it could stay on your file 7 years:eek:

coffeeandfags

Brian_The_Lion wrote: »

Make sure you stick to operating you cashminder with care and attention to things like DD's & S/O's... Co-op operate a 3 strikes policy and are strict at practising it too! You dont want to be back to square one unnecessarily...

Agree! Be very careful! I had the same account, went overdrawn twice, both times under 20p :eek: and both times for under 24 hours and they closed my account!! Of course i didnt know this til the cashpoint swallowed my card and my wages and tax credits were stuck in "limbo" for a week!

yellowmonkey

I have a cashminder account and it is fine. Does everything you need it to do.


Keep a record if poss of transactions as the online facility is a bit slow to update. As others have said "3 strikes" and your out

uolypool

Again many thanks , I'm finding that the account does do everything I need .Am very happy with it ,I've gotten into the habit of writing down everything I spend as I spend it so hopefully won't fall foul of the three strikes and your out. I've heard that you can't use it online for tesco ,is it all of tesco online as I've just bought a new phone for son as his went in washing machine (don't ask) and the transaction went through fine