Basic bank account feedback thread

BBZ68

Are there any that don't credit check though ?

ses6jwg

BBZ68 wrote: »

Are there any that don't credit check though ?

They all credit check just some have lower criteria than others.

Basic accounts are designed for people with no credit history or a low credit score due to CCJs etc.

stclair

ses6jwg wrote: »

They all credit check just some have lower criteria than others.

Basic accounts are designed for people with no credit history or a low credit score due to CCJs etc.

I didnt think banks did a "credit check" for basic bank accounts dont they just do "Identity Checks".

MuddyPaws

Well, with the new year, I finally decided I needed to do something to stop the Barclaycard automated pestering service, and rang Step Change, who were great, and have advised me to go on a DMP to sort out my money woes.
I have rung the co-op, spoke to a very nice bloke (it made a change to speak to someone who I could understand perfectly), and they're sending out an application pack for their basic bank account. As I've missed more than 3 payments on both my credit cards, I'm hoping I'll still pass the 'credit check' and get accepted. I don't know why they can't just check the electoral register to confirm who I am, and not bother doing a credit check.

So watch this space, I will update as required as to how easy the rest of the process is, and if I get accepted or not.

With paying off my debts with a DMP, it will take 14 years :eek:

Here's hoping I get a job soon, otherwise in a couple of months we won't be able to afford to eat! Won't bother myself and DH as we both have weight to shed, but we've two little ones, and it's bad enough trying to get the 4 year old to eat anything. The 20 month-old will, however, climb over her sleeping brother to steal half a kit-kat.

andrar

Hey Muddypaws

Don't worry about the co-op, it's easy peasy! I signed up in branch after I started a DMP with Payplan and it took all of five minutes to sort, I waited two days to be accepted and was totally sorted with all my direct debits etc moved over and internet banking set up within a week and a half of contacting them. And if I can get accepted anyone can! I had a lot more missed payments than you.

Good luck on the debt free journey! I find the debt free long haulers board really useful so have a look at that, great for those of us with long term debts to shift!

mr1974

Dr_Cuckoo3 wrote: »

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

Natwest and RBS error with:
"Sorry – this service is unavailable while we carry out planned maintenance on our systems. Please try again later."

Nationwide with:
"We're sorry, you can't apply for a current account right now because the credit-checking service we use is unavailable. Please try again from 6 a.m. in the morning."


I notice Halifax and BoS have the same interface when applying - perhaps understandably, as they are part of the same group.
Not clear why Lloyds also has a very similar application form.

MR

innovate

mr1974 wrote: »

I notice Halifax and BoS have the same interface when applying - perhaps understandably, as they are part of the same group.
Not clear why Lloyds also has a very similar application form.

MR

Lloyds own HBoS.

Carol_Hill

As a new customer I struggled to open my account - applied several times & ended up with 2 accounts. It depended who I got on the phone as to what they required. As I live in Cornwall there is no branch of the Co-op bank here and the initial opening had to be over the phone or in writing .... again depending who you get on the end of the phone! Paying into my account :(I have been using Britannia Building Society as they advertise they are also 'Co-op Bank' - not so. To pay in cash you use your card only - to pay in cheques you need your paying in book & never mix this up as they will not tolerate cash & paying in book or cheque and debit card!! Completely inflexible & unhelpful! However, a family member has opened a Cashminder account and found this to be easy & pain free, simply as they have a local branch. Also I have set up online banking but receive a paper statement on a weekly basis - not sure if that's a good / bad thing.

Roland_Flagg

Can anyone recommend a basic bank account that has
a debit card and will allow deposits into online gambling sites
without transactions being blocked (as long as you are in credit of course).

Thanks.

silverfox13

Taffy99 wrote: »

My Partner suffers from both clinical Depression, and bad Debt problems. She goes through high's and low's, and the debt-based spending follows the depth of depression (and vice versa). Unfortunately, even when she has good days, the debts are obviously still there, and still growing through interest, last month's charges etc.

This all stopped when she finally acceded to opening a Basic Bank Account:

It's taken a long time to help her towards debt recovery, as she often resists being helped when down with depression, as debt is something none of us like dealing with, and depression multiplies the difficulties.

Its difficult, when the person does not want to be helped, even when you are so close. And debts in the family are not one person's concern: like a contagion, they infect and affect everything to do with life, and those around you.
It took a long time to persuade her to close her credit-based accounts (and be able to clear all the balances to allow closure).
Sensing restriction, she didn't want a basic bank account, but in one good month, was persuaded to close current accounts and open a basic account with HSBC.

Unfortunately, HSBC, alike with all banks, is there to make money, not to help.
So 14 months later (and one year depression free) when she fell back into bad habits and started having transactions declined (due to the fantastic way that basic bank accounts dont let you spend what you dont have), the bank calls her up, and quietly offers her a 'full' account 'upgrade', complete with overdraft :mad:
Six months later, calculating the profit of another successful debt-cycle, the bank accepts her further quiet request for an overdraft extension.

Since gaining access to credit, her Debts returned and spiraled through the various charges you get as part of your full 'upgrade' :mad: account.
Her Depression returned, fueled by the complications of bad Debt.

All this only became apparent to me recently, when she broke down and told me. Suddenly the Depression re-lapse that i'd helplessly watched happen over the last 9months, made sense. Her episodes back into Depression started the month of her 'account upgrade' :mad:

It took over 5 years to help her through Debt and Depression, to her own full recovery.
That recovery lasted (and it's a fragile balance to stave off depression) until the bank 'upgraded' her account, to access credit again.

Basic Bank Accounts are great, but banks should not be able to use them as a grooming tool, for selling unsuitable products to vulnerable individuals.

I feel helpless, because she is fiercely independent (or more correctly resists restriction), and there is absolutely no way to prevent, or even know when someone you love, a symbiotic part of your life, is creating a web of debt and deceit that will pull her and those around her down into a long term personalised hell .

(She and) I know the advice and best practice, have setup credit monitoring, online banking, online credit reports, text message banking & alerts etc etc. But its all meaningless, if the vulnerable person and bank hide behind the excuses of privacy and DPA, to hide the debts from you.
You can't make someone you love, show you their debt spending. But their debt spending can make someone you love, show you hell.

P.S.: In this country, depression is a 'dirty' subject for most - a taboo they'd rather not speak about or acknowledge - despite 1 in 4 (nearly 1 in 1 for celebrities) of us suffering, or going to suffer with depression in our lives. It's not 'sexy', it doesn't get people elected, doesn't pull ratings, or improve the brand of the 'famous', so instead it gets swept under the carpet.

P.P.S. I deliberately didn't post this in the 'depression' forum section, as you wouldn't be reading it, if i had done - it does have reference to Basic Bank Accounts though x

thank you, for describing me to t, the hardest thing to admit, is that you have a problem.