Basic bank account feedback thread

BugsyBrowne

Chrisblue1962 wrote: »

Question: What is the "dreaded CPD" ?

They slap them them on willy nilly if someone's had previous bad credit history.
It means credit policy decline which you can have 1 on say loans which means you'll never be given a loan or you could 2 which is on loans and overdrafts or you can 3 which mean a CPD has been put against your name on every lending facility and no credit will be offered to you.

davethorp

BugsyBrowne wrote: »

Ask lloyds if you've got the dreaded CPD on your file with them.

I do. Well I haven't directly asked them but Internet banking will refuse upgrades and additional accounts which I've read on here is a pretty good sign

Academic though as Santander approved me for a 123 account three months ago so they are now my main bank

BugsyBrowne

davethorp wrote: »

I do. Well I haven't directly asked them but Internet banking will refuse upgrades and additional accounts which I've read on here is a pretty good sign

Academic though as Santander approved me for a 123 account three months ago so they are now my main bank

Move banks then mate get shot of them don't pay in your hard earned money into a bank that see you a high risk.

davethorp

BugsyBrowne wrote: »

Move banks then mate get shot of them don't pay in your hard earned money into a bank that see you a high risk.

Like I said I'm now with Santander. The Lloyds account is still open as a backup though.

Incidentally Lloyds emailed me a survey after I switched my direct debits from them and I did mention in it that the CPD was one reason I switched as Lloyds had given me a full account in name only and the only thing it offered me over my previous basic account with natwest was access to all cash machines

The cash back from Santander is nice too and nets me about £7 a month after the £2 fee which is more than I was getting in interest from Lloyds even with vantage on

balood_2

I have just read the Basic Bank Account article that recommended the Co-op Cash Minder as a good basic bank account that did not require a credit check. I have just applied on the phone and have been told that I have been "referred" and that a credit check is done on all Co-Op accounts even the Cash Minder account so the moneysavingexpert article is out of date or just plain wrong. From my experience the word "referred" means refused btw.

jalexa

balood wrote: »

I have just read the Basic Bank Account article that recommended the Co-op Cash Minder as a good basic bank account that did not require a credit check. I have just applied on the phone and have been told that I have been "referred" and that a credit check is done on all Co-Op accounts even the Cash Minder account so the moneysavingexpert article is out of date or just plain wrong. From my experience the word "referred" means refused btw.

Acceptance for Basic Bank Accounts has never been "guaranteed". The disqualifications are listed in the table which can be found here...

https://www.moneyadviceservice.org.uk/en/articles/basic-bank-accounts

...to which can be added individual arrangements.

However if none of the above apply there is a presumption of acceptance not influenced by a "credit scoring" check which I think is *probably* what the article intended to convey.

maxine877

Hi I just applied to Barclay for their basic account and was refused. I did have the coop basic account but they closed that when I went bankrupt in Jan 2011. I have now been discharged 6 months but no bank seems to want me. Any ideas???

jalexa

maxine877 wrote: »

I have now been discharged 6 months but no bank seems to want me. Any ideas???

Phone the Money Advice Service helpline number.

BugsyBrowne

maxine877 wrote: »

Hi I just applied to Barclay for their basic account and was refused. I did have the coop basic account but they closed that when I went bankrupt in Jan 2011. I have now been discharged 6 months but no bank seems to want me. Any ideas???

Try the bankrupt bank think banking they are more likely to give you an account.

Lasti

Hi,
I was considering opening a basic account with Bank of Scotland as one of the posts here recommended it over Co-op Cashminder, however my main debt is with Lloyds (a big credit card and an overdraft). I presume that if they decided to take money out my account, they can go into the BoS account as well, so there's no point in changing?
I would simply go with Barclays, but my other card is with them (although I could actually pay the payments I owe them when I get my student loan, it's not much, just scared thay would want more if I requested a plan). Would NatWest be better? Or should I try with Barclays? I'm not sure if they would open even a basic one for me at the moment, when I owe them three payments? Help, really can't see any light at the end of the tunnel so far.