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Basic bank account feedback thread

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  • Toe-Jam
    Toe-Jam Posts: 1,554 Forumite
    Well I don't understand then.
    How have you got a debit card when I only get a cashcard.
    When I phoned the Bank they said only first account holders get the debit card.
    You must have fallen through the net.

    Think I might tell!
    Especially after your snide remark.

    Get over yourself :rotfl:
  • Have you committed fraud my friend?
  • System
    System Posts: 178,346 Community Admin
    10,000 Posts Photogenic Name Dropper
    The Coventry BS Money Manager only comes with an ATM card.
    The did a version 2 for a brief period of time with a debit card.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • RGN007
    RGN007 Posts: 13 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    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:

    I'm afraid Lenny05 experience is correct and and Chrisblue's assumption that what Co-op Bank promote on their website must be right...it isn't.
    My son, who has had a Cashminder account for a couple of years has just had his account closed down (extremely unsympathetically) by the Co-op Bank. The reason the Co-op Bank gave, was that he had a direct debit rejected on three occasions even though the money was paid in the same day to cover it. Since he cannot go overdrawn and be at no risk in losing the Co-op any money, this seems unethically harsh.

    Not only have they given him "a months notice", but they have cancelled all other direct debits regardless of the money being in his account to pay them. He has gone into a branch as the helpline advised, only to be told there is nothing they can do. One customer service person did say this is now happening frequently.

    The unethical C0-op Bank have no consideration whatsoever that people who have these accounts are often vulnerable people, and the last thing the person needs (when at no risk of overdraft) is to have the rug pulled out from under them, and being left high and dry and unable to keep a good track record they may have managed to build up by paying other direct debits on time.

    The Co-op Bank are subversively playing an "ethical" card that has long burned out so they should not be listed on MoneySavingExpert as having a basic bank account at all since Co-op Bank are so unreliable in supporting in the way they state on their website. It appears to be a sham.
  • Nada666
    Nada666 Posts: 5,004 Forumite
    edited 30 March 2013 at 9:09PM
    RGN007 wrote: »
    I'm afraid Lenny05 experience is correct and and Chrisblue's assumption that what Co-op Bank promote on their website must be right...it isn't.
    My son, who has had a Cashminder account for a couple of years has just had his account closed down (extremely unsympathetically) by the Co-op Bank. The reason the Co-op Bank gave, was that he had a direct debit rejected on three occasions even though the money was paid in the same day to cover it. Since he cannot go overdrawn and be at no risk in losing the Co-op any money, this seems unethically harsh.

    Not only have they given him "a months notice", but they have cancelled all other direct debits regardless of the money being in his account to pay them. He has gone into a branch as the helpline advised, only to be told there is nothing they can do. One customer service person did say this is now happening frequently.

    The unethical C0-op Bank have no consideration whatsoever that people who have these accounts are often vulnerable people, and the last thing the person needs (when at no risk of overdraft) is to have the rug pulled out from under them, and being left high and dry and unable to keep a good track record they may have managed to build up by paying other direct debits on time.

    The Co-op Bank are subversively playing an "ethical" card that has long burned out so they should not be listed on MoneySavingExpert as having a basic bank account at all since Co-op Bank are so unreliable in supporting in the way they state on their website. It appears to be a sham.

    What rubbish. If you don't want to keep money in your account to pay for your direct debits then do not use the direct debit facility. Were any of the debits unexpected? Thought not. How many chances do you think should be given to not pay monies in 43 or 19 hours after the terms and conditions (of most every bank) demand? Five? Ten? Two chances (after the first warning) is more than enough.

    Being ethical does not equal being a mug.
  • RGN007
    RGN007 Posts: 13 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Nada666 wrote: »
    What rubbish. If you don't want to keep money in your account to pay for your direct debits then do not use the direct debit facility. Were any of the debits unexpected? Thought not. How many chances do you think should be given to not pay monies in 43 or 19 hours after the terms and conditions (of most every bank) demand? Five? Ten? Two chances (after the first warning) is more than enough.

    Being ethical does not equal being a mug.

    You answer your own questions Nadia666?
    Cash accounts are there for a reason, for people who have had prior difficulties. This is not necessarily reckless spending but misfortune, depression, mental illness.

    The above is nothing to do with being a mug, but being co-operative (excuse the pun), which the C0-op certainly is not.
    The unenlightened can always assume their own conclusions.
  • RB3
    RB3 Posts: 6 Forumite
    edited 4 April 2013 at 6:05PM
    Well I've had a bit of a rough 4 years and had a Coop Cashminder account for 3 years, all was going well until work took a nosedive after Christmas and had a few returned DD's, they informed my they were closing my account due to this which annoyed me greatly as I had looked after my account and for 4 DD's to be returned during a quiet spell, well... And don't want to think of the money I've put through the account during that time as must be considerable. However panicked a bit, made an appointment at my local Yorkshire Bank as my late Mum had an account with them and they'd been good, went in and thankfully within a minute or so was advised that they'd have to undertake a credit search even on a basic account. My history isn't great, sole trader etc and declined to proceed as thought no point going through 45mins of personal info and for a spotty youth to sit there and judge me only to be declined. So I cancelled the meeting, thanked him and went home. Upset but after some looking around I thought see who can do this online and went to Nat West, Ok I'm not a great fan and with recent problems with their ATM/PoS network bit worried, however I do like their emergency cash facility. Completed the online form which I thought was for their basic account but no was for their select account. Came up within the application to confirm I'd been accepted and was all very easy, much easier than the trauma of a long bank meeting. I wish you all who are in this position well, it isn't easy I know but there do appear to be solutions...
  • dr_adidas01
    dr_adidas01 Posts: 2,157 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    RB3 wrote: »
    Well I've had a bit of a rough 4 years and had a Coop Cashminder account for 3 years, all was going well until work took a nosedive after Christmas and had a few returned DD's, they informed my they were closing my account due to this which annoyed me greatly as I had looked after my account and for 4 DD's to be returned during a quiet spell, well... And don't want to think of the money I've put through the account during that time as must be considerable. However panicked a bit, made an appointment at my local Yorkshire Bank as my late Mum had an account with them and they'd been good, went in and thankfully within a minute or so was advised that they'd have to undertake a credit search even on a basic account. My history isn't great, sole trader etc and declined to proceed as thought no point going through 45mins of personal info and for a spotty youth to sit there and judge me only to be declined. So I cancelled the meeting, thanked him and went home. Upset but after some looking around I thought see who can do this online and went to Nat West, Ok I'm not a great fan and with recent problems with their ATM/PoS network bit worried, however I do like their emergency cash facility. Completed the online form which I thought was for their basic account but no was for their select account. Came up within the application to confirm I'd been accepted and was all very easy, much easier than the trauma of a long bank meeting. I wish you all who are in this position well, it isn't easy I know but there do appear to be solutions...

    Sounds good however you need to be aware Natwest operate there account opening via a funny system. They send you your paperwork which you sign and send back. They will send you your account numbers and you think everything is fine.

    Then a department called the AVU (Account Verification Unit) check your application and do further checks. If there's anything on your credit files they don't like they then close your accounts and you will receive a letter in the post saying so.

    There have been people on this forum whom have even received debit cards and cheque books only for the AVU to close the account a week later.

    They will never tell you why they have done it, nor will they allow any appeal against there decision.

    If your account get pasts being open for a few months then you should be OK.
    Time is a path from the past to the future and back again. The present is the crossroads of both. :cool:
  • RB3
    RB3 Posts: 6 Forumite
    edited 4 April 2013 at 6:31PM
    However from my experience with the Coop and their online banking, trying to get an accurate balance was near impossible!
  • RB3
    RB3 Posts: 6 Forumite
    Thanks dr-adidas01 will wait and see... Thought it was too easy and best not deposit any money into any account number they provide and leave it a week or so for they to close! Banking used to be easy... So for point of interest as of today, who is the best bank that provides a basic bank account and doesn't require a credit search and obviously for me not the Coop? Thanks.
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