Basic bank account feedback thread

iluvsaving

Yesterday should have been a very busy day for every bank. At my local Barclays there was non stop queues for 8 hours straight, lots of people were doing their banking at the end of the month.
Lots of these queues can easily be avoided by people using other forms of banking that do not need the branch, i.e. transfers and balances.

jhnalford

Don't despair! In the end I got an account with Lloyds, with all the facilities and a £250 OD with the minimum of fuss - took abot 30 minutes. (My experience with the COOP unfortunately was the same - anybody from the COOP reading this?) Now trying to get a mobile phone contract .... that's another great story!

gaum

It seems that Moneysavingexpert’s information on these accounts is out of date – at least in Barclays Bank’s case. I tried to open a Barclays Cash Card account yesterday and was refused, following a credit check. I have some debts and arrears, being a ‘recession victim’, but have no criminal record for fraud or otherwise and have never been made bankrupt. I have also had a Barclaycard for many years (through necessity, not choice) and always pay on time. Barclays did try to interest me in a ’normal’ account before they processed my application.
I have had a Co-op Cashminder account for three and a half years, with relatively few problems, apart from not everyone being willing to accept the dreaded Electron card. I wanted to open a second basic account to keep finances for something else separate – also, there is no Co-op branch near me. The Barclays advisor announced unhelpfully that ‘everyone qualifies for at least a cash card’, but couldn’t enlighten me as to the exact reason why I didn’t. I can only assume that banks are tightening up on even this type of account. Another reader below said something about legislation changing and a credit check always being performed, so maybe that’s it. If you can’t even open an account to put in and take out your own money, with no overdraft facilities, I’m not sure how people can manage. Thank goodness I opened my Co-op Cashminder account when I did. Perhaps that wouldn’t even be possible nowadays.
One thing I was unhappy about – perhaps someone in the forum can comment – was that they took a photocopy of my passport photo page. When the application fell through I asked them to give it back to me but they refused. They said they were obliged to send it to their Head Office/ Processing Centre for all applications, whether they were successful or not. Does anyone know if this is true? Is this just Barclays’ internal process or is it wider banking policy? I don’t see why this is necessary if I didn’t open an account. Thanks in advance for any thoughts.

gaum

hiacekim wrote: »

:mad:

CO-OP card cash A/C
Now I think its time that Co-op Bank should sort out their debit card. I have tried over the phone several times now to bring to the attention of the Co-op, that the card now issued with visa on it is still an Electron card...in the eyes of retailers the card shows as an electron.
Online problems are that you could be 16 years old to have this a/c so ...No tesco and others home delivery's, No pay at Pump, M&S do not accept card online and at a guess many others.

We have finished our IVA and cleared our Experian report now shows score 739, Fair rating. No debts.:A

Now all we want is a basic a/c with an actual visa debit card......will switch from co-op only because of this problem. They say we cannot upgrade our account for 6 years. Well I do not want the shopping embarrassment of a card marked Visa but is an electron any longer .
Any Idea's anyone, thanks Kim

Hi - you can order groceries online with Sainsbury's - or you could when I last did it a few months ago. I have told Tesco that's why I stopped shopping online with them, but to no avail. The only other companies I've experienced that haven't accepted Electron in the last three and a half years are M&S, Debenhams (online), QVC (they accept it now) and Kwik-fit (they held my car captive overnight until I could get the payment in cash!). Sorry - can't recommend another bank as I was turned down for another basic bank account yesterday.

MadCat

gaum wrote: »

It seems that Moneysavingexpert’s information on these accounts is out of date – at least in Barclays Bank’s case. I tried to open a Barclays Cash Card account yesterday and was refused, following a credit check. I have some debts and arrears, being a ‘recession victim’, but have no criminal record for fraud or otherwise and have never been made bankrupt. I have also had a Barclaycard for many years (through necessity, not choice) and always pay on time. Barclays did try to interest me in a ’normal’ account before they processed my application.
I have had a Co-op Cashminder account for three and a half years, with relatively few problems, apart from not everyone being willing to accept the dreaded Electron card. I wanted to open a second basic account to keep finances for something else separate – also, there is no Co-op branch near me. The Barclays advisor announced unhelpfully that ‘everyone qualifies for at least a cash card’, but couldn’t enlighten me as to the exact reason why I didn’t. I can only assume that banks are tightening up on even this type of account. Another reader below said something about legislation changing and a credit check always being performed, so maybe that’s it. If you can’t even open an account to put in and take out your own money, with no overdraft facilities, I’m not sure how people can manage. Thank goodness I opened my Co-op Cashminder account when I did. Perhaps that wouldn’t even be possible nowadays.
One thing I was unhappy about – perhaps someone in the forum can comment – was that they took a photocopy of my passport photo page. When the application fell through I asked them to give it back to me but they refused. They said they were obliged to send it to their Head Office/ Processing Centre for all applications, whether they were successful or not. Does anyone know if this is true? Is this just Barclays’ internal process or is it wider banking policy? I don’t see why this is necessary if I didn’t open an account. Thanks in advance for any thoughts.

I too am a recession victim and need a bank account, I want to get my way out of this mess with my own online business, I have everything pretty much sorted apart from a personal bank account, sort of essential to sell stuff online!! I have just been to Barclays, told them I wanted a no credit check account, was very honest and told them I would never pass a credit check due to my circumstances over the last couple of years. They gave me the application forms for the Cash Card Account, took a copy of my passport as they can no longer process these accounts in branch. I presumed that was due to identity fraud, after all, there is no way could you expect a personal banker to be an expert in fake passports!! After reading this I wonder if I should even bother posting the application forms as I know I will fail any credit check. It's so frustrating, I have gone from a high earner to meeting brick walls at every turn, purely as I was a recession victim. I want to make a new start and use my experience to run my own business but the banking system seems to be preventing me.

Pugwash69

MadCat wrote: »

I want to get my way out of this mess with my own online business, I have everything pretty much sorted apart from a personal bank account, sort of essential to sell stuff online!!

Try asking for a business bank account instead.

clayts

I've been with NatWest for many years with their basic bank account and, generally, things have gone very well. Interestingly, the recent NatWest disaster had absolutely no impact on me whatsoever - all my direct debits went through okay, my wages were paid in without incident, I was able to make debit card transactions, withdraw cash and access my account online.

The only slight issue was NatWest suddenly barring us from using other banks machines apart from RBS (who own NatWest) and over the counter at the PO. Thankfully, they have reversed this daft decision so we'll soon be able to use all LINK machines again.

Generally, whilst there may be no or very little interest, I've genuinely been very happy with Nat West and particularly their online banking service.

Funnily enough every so often the cashiers at my local bank ask me if I want to upgrade to a current account but I just fix them a steely gaze and advise them I have a poor credit record and simply would not qualify for one.

Lisa3105

I have a basic account with Natwest (due to bankruptcy 2 yrs ago), all is great with the account, loving online and mobile app, however big issue now is you can only use their debit card at Natwest (or RBS) cash points to withdraw money.

Nightmare scenario, had a puncture, got to a tyre place, his handheld machine not working, petrol station next door with a cash machine, because it's not an RBS ATM, would not allow me to get cash out. Thank goodness for 3g on mobile, and having son with me, had to transfer money to his account as his Natwest Select card does work in any ATM!!

I therefore made enquiries at Co-op, given this is one of the top 2 recommended here, and they advised me they are about to do the same with their basic accounts, can only withdraw money from co-op ATM's (the very nice lady also advised that most banks are about to do this with their basic accounts).

I have now made enquiries at Nationwide building society, who have confirmed they do a basic account and their card will work in any Link ATM. I wait to see...

Lisa3105

Hi Clayts
Just re-read your post - I haven't heard anything about Natwest reversing their decision re their cash points - hope this is true and soon, as I won't bother with my Nationwide application? Have you received a letter or is it on their website?

spingoblin

clayts wrote: »

The only slight issue was NatWest suddenly barring us from using other banks machines apart from RBS (who own NatWest) and over the counter at the PO. Thankfully, they have reversed this daft decision so we'll soon be able to use all LINK machines again.

can any of the natwest itk's confirm if this is true?