Basic bank account feedback thread

trevorpriest

I had a basic account at Barclays which was running fine, after about 6 months of opening the account they decided to close it with no explanation as to why. Since then I have tried to open several basic accounts and have been turned down by every bank. I have checked my credit file and there is nothing new there (no record of fraud), I have never been bankrupt although do have some defaults.
The only account I have been able to get is a managed account, costing me £12.50 per month!

bubbles4325

I have had a CoOp Basic account for about 6 years now with no problems. Easy to open after financial difficulties. accidentally went overdrawn earlier this year but didnt have to pay any charges due to running my account well over the past year. They allow one slipup a year. I have a visa debit card and and direct debits. Nationwide also do a similar account which I opened at the same time and Halifax also have a basic account.

pmduk

I use an RBS key account which works well for me. I've moved it to Scotland in order to avoid the dreaded Santander. I had to open a new account in order to get the Scottish one. No problems in opening either account.

scropter

Applied for the co-op cashminder basic account on 15/11/10.

Researched options on MSE. Plumped for the co-op after following the MSE link.Co-op site was very informative. Did not like the idea of paying 4p a minute for the call(bt rates) however it's the way of the world at the moment that people in hardship have to pay more to get less!! That is the only negative of the whole process I have to report.

Yes I did get a small hard sell to go for a better account first. Knowing full well I would fail it I let him go ahead anyway, just incase my history had been lost in cyber space forever !! No such luck !!

Anyway process was simple and seamless for the cashminder account. Card arrived four days later. Basic visa debit card that has your sort code and account number on it. Informative welcome pack and step by step guides on how to use the account. If you like using branches then this is not for you. There are only about 8 or so in the country!! Loads of post offices though.

Put money into my new account today via PO and then went home to phone the FREEPHONE number for internet banking facillities. Painless process and could view my account online when I hung the phone up.

So far so good and hope this helps others who may be considering.

I never knew I could get this type of account and have been rejected by most of the "big boys". Thanks to MSE for their report and information - priceless !! Pardon the pun !!

shirleymarye

I opened my Co-op account about 2 years ago and have not had any trouble with it. Think I found the phone number to ring on the forum. I was asked why I wanted it and said I was considering going bankrupt, they said it was no problem,they asked me who I banked with and did I want to transfer any money to it. I got all the paperwork in the post very quickly and set up direct debits. I don't ring them very often but they are very helpful when I do. I have a debit card which is accepted in shops and over the internet,of course you can't get overdrawn so I often log on to my account to see what's what. I did have a problem where someone topped up their mobile with my account but it was very quickly resolved and I was sent a new card in no time and my money was returned to me. Brilliant bank in my opinion,I still haven't gone backrupt but do have a poor credit rating now.

brat673

These should be outlawed or restricted to £1.What is the cost to banks? When a dd happens it should be printed on the a/c dated as it has occured. This would make the a/c holder aware.

brat673

scropter wrote: »

Applied for the co-op cashminder basic account on 15/11/10.

Researched options on MSE. Plumped for the co-op after following the MSE link.Co-op site was very informative. Did not like the idea of paying 4p a minute for the call(bt rates) however it's the way of the world at the moment that people in hardship have to pay more to get less!! That is the only negative of the whole process I have to report.

Yes I did get a small hard sell to go for a better account first. Knowing full well I would fail it I let him go ahead anyway, just incase my history had been lost in cyber space forever !! No such luck !!

Anyway process was simple and seamless for the cashminder account. Card arrived four days later. Basic visa debit card that has your sort code and account number on it. Informative welcome pack and step by step guides on how to use the account. If you like using branches then this is not for you. There are only about 8 or so in the country!! Loads of post offices though.

Put money into my new account today via PO and then went home to phone the FREEPHONE number for internet banking facillities. Painless process and could view my account online when I hung the phone up.

So far so good and hope this helps others who may be considering.

I never knew I could get this type of account and have been rejected by most of the "big boys". Thanks to MSE for their report and information - priceless !! Pardon the pun !!

Hard sell when applying for a basic bank a/c should be forbidden. Banks should have to write to the new customer with all the advantages & disadvantages spelled out.

Tarka1981

I have just spent a tedious and lengthy session in my local Santander branch trying to open a basic bank account. I stated from the off that this was my intention. Throughout the meeting, there was faux-light hearted chat that lead to the inevitable sales pitches for their products. (Current account, credit card, life insurance and home contents insurance were all mentioned...)

After over an hour of questions about myself and my partner (I wasn't in the mood to tell him that we had just seperated by this point) he informed me that he would have to perfom a credit check. I questioned him due to it only being a basic account. He did need to double check but did assure me that regulation had infact changed and that credit checks were now mandatory on all bank accounts.

I wasn't impressed as he had told me that this wasn't necessary at the beginning of the meeting.

I don't know if this is standard accross the board now but I was livid. More down to his incompetence than anything I suspect but it seemed such a waste of my time.

I don't know if anyone else has had the same experience with them but my local branch is in Surrey.

heppy23

I just phoned my local Barclays to find out opening a basic bank account. Have to make an appointment which is fair enough.
So I asked how long the appointment might take (so I can think of a time to fit round work, school run etc).
AN HOUR AND A HALF!

They insist on undertaking a full financial review. I told them I am a tenant on a DMP, I have no savings. I already have car, home, life insurance and my pension is sorted. What can they sell me?
The branch is only open 10am to 3.30pm!

Bonkers. Forget it Barclays.

book12

heppy23 wrote: »

I just phoned my local Barclays to find out opening a basic bank account. Have to make an appointment which is fair enough.
So I asked how long the appointment might take (so I can think of a time to fit round work, school run etc).
AN HOUR AND A HALF!

They insist on undertaking a full financial review. I told them I am a tenant on a DMP, I have no savings. I already have car, home, life insurance and my pension is sorted. What can they sell me?
The branch is only open 10am to 3.30pm!

Bonkers. Forget it Barclays.

When I first had an account with them, it wasn't one hour.

Just go for them, they have the best basic bank accounts. You could refuse their offers.