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Finding a bank account

Been to the CAB for some advice and they sent me off to open a bank account. Not so Easy if there is unsecured loan and credit rating is low. Anyone got any advice on who to approach.

Comments

  • RAS
    RAS Posts: 36,115 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Thanks to Tixy for the link


    The 2 accounts most known for accepting people (even bankrupts) are barclays cash card and co-op cashminder. Have a read of this - http://www.moneymadeclear.org.uk/pdfs/bank_accounts.pdf (page 5 lists the different facilities basic accounts have).
    If you've have not made a mistake, you've made nothing
  • JAYk_2
    JAYk_2 Posts: 196 Forumite
    Been to the CAB for some advice and they sent me off to open a bank account. Not so Easy if there is unsecured loan and credit rating is low. Anyone got any advice on who to approach.

    With some banks you have options - full current account where you're required to deposit a minimum of £1 upon opening the account and deposit a minimum of £1,000 per month.

    Or a fairly basic account whereby you're required to deposit a minimum of £1 upon opening the account, no interest given, not required to deposit £1,000's per month. I think Halifax has those options. As with all banks they do check ups before approving. MoneySupermarket.com allows you to compare bank accounts.
  • WRINKLES
    WRINKLES Posts: 817 Forumite
    500 Posts
    JAYk wrote: »
    With some banks you have options - full current account where you're required to deposit a minimum of £1 upon opening the account and deposit a minimum of £1,000 per month.

    Or a fairly basic account whereby you're required to deposit a minimum of £1 upon opening the account, no interest given, not required to deposit £1,000's per month. I think Halifax has those options. As with all banks they do check ups before approving. MoneySupermarket.com allows you to compare bank accounts.
    Co op have a basic account with debit card , without a credit check .
    GRADUATED FIRST CLASS WITH HONORS FROM THE SCHOOL OF HARD KNOCKS RECOMENDED READ IF BY RUDYARD KIPLING
  • Silvafox
    Silvafox Posts: 321 Forumite
    edited 16 August 2010 at 2:11PM
    I had success with Yorkshire and Natwest - who both offered decent current accounts with VISA debit cards.

    Edited to add: Yorkshire didn't d oa credit check, just a bankruptcy search and Natwest did a credit search but there system accepts more 'colourful' credit histories on their Foundation or Step account. But neither offer chequebooks.
    PMA - Positive Mental Attitude

    It works for me - you try it!
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