Basic bank account feedback thread

black_taxi_2

So your saying any lloyds branch that are going to co- op are still in lloyds banking group?

lenny05

I used to be with the Co op on a basic account but because I went overdrawn three times in a year they closed my account and the Co op have stopped doing the basic account

Chrisblue1962

lenny05 wrote: »

I used to be with the Co op on a basic account but because I went overdrawn three times in a year they closed my account and the Co op have stopped doing the basic account

I'm afraid Lenny05, this is incorrect and misleading .

The Co-op HAVE NOT stopped doing the basic Cashminder account, a visit to their website will confirm this as it's listed on their "Current Accounts" page under "Other Accounts" ...have just looked! :whistle:

debtderek

What information do banks check when trying to open a basic account?



I tried to open 2 in the last week (also do rejections hurt credit report?)

One with Barclays (was a standard account with overdraft) and then one with Nationwide, which after i said i have no current account did a check then declined me an account with the information provided.

However when i did the Barclays application they also mentioned a current account i had with first direct which has been closed for some time.


The credit report i have access to shows this as a closed account, but wonder if they want me to put it as an account i have?



So when opening one of these basic/standard accounts what information do the banks have access to?

magiciansgirl

Just a word of warning about the Co-Op basic account, which I have. They failed to put through a standing order this month even though the funds were there on the day. I rang them to query this and they said 'our mistake, no fee will be levied, we are putting it through now'. But they didn't, which I only discovered today. I rang to complain and discovered they were about to charge me a £15 penalty fee. Their explanation now is that the funds should have been in place 24 hours in advance, but they had not said this in the previous call. So two errors, and putting me inadvertently in debt to my landlord. They have now waived the fee but I thought people might like to know that a standing order won't be fulfilled if you transfer funds on the day itself, however early in the morning (I had done a transfer the previous night).

andrar

As far as I know debtderek a bank will do a full credit check on you when you apply to open an account especially if asking for an overdraft which leaves a mark on your credit file - someone correct me if I'm wrong?

debtderek

andrar wrote: »

As far as I know debtderek a bank will do a full credit check on you when you apply to open an account especially if asking for an overdraft which leaves a mark on your credit file - someone correct me if I'm wrong?

didn't specifically ask for overdraft, just came with the standard account.

Also with the Nationwide application, it hadn't got to the point of what i was asking for (would not have asked for overdraft) before the rejection came.

Can i ask what details are in a full credit check?

andrar

As far as I'm aware a credit check looks at what information is held about you on your credit file, which is why it's advised you have a look at your file to check its accurate if you can. Sorry that's all I know!

debtderek

any of these basic (no overdraft) accounts that you can apply for online?

Dr_Cuckoo3

debtderek wrote: »

any of these basic (no overdraft) accounts that you can apply for online?

These ones ;

https://www.halifax.co.uk/bankaccounts/basic-bank-account/

http://www.bankofscotland.co.uk/bankaccounts/other/cash/

http://www.lloydstsb.com/current_accounts/cash_account.asp

http://www.natwest.com/personal/current-accounts/g1/basic-account.ashx

http://www.rbs.co.uk/personal/current-accounts/g1/other/basic-account.ashx

http://www.nationwide.co.uk/current_account/cashcard/basic-cash-card-account.htm

http://www.coventrybuildingsociety.co.uk/savings-and-investments/easy-access/callsave-moneymanager/callsave-moneymanager.aspx