Basic bank account feedback thread

GibbsRule_No3

Cheesey123 wrote: »

I have had bad credit in the past (over 5 years ago). I have a NatWest basic account and a Vanquis credit card which has recently had it's credit limit increased to £1000 (no balance I clear it every month). I also have £5000 in a savings account with NatWest.
Recently I have been wondering whether I would likely to be eligible for a 'full bank account'? I don't want an overdraft however I would like such things as a contactless card, a card which I can use a at pay at pump petrol stations, use Applepay, have a chequebook etc.
I did enquire with NatWest about upgrading and was told I would have to apply for a brand new account. As this would mean a new account number etc I may as well look at other banks too and find one most likely to give me a full account.
Y
Can anyone suggest a bank I'm likely to get a full account with? Or should I wait longer before thinking about applying? All advise would be greatly appreciated

Chelsey did you try getting a different "full" account? My experience was not good, tried to open a SANTANDER 123 when it was worth having, no deal. Then asked Co-Op to make my Cashminder account a full one, so I could have a contactless card, no deal, despite being with them for over six years and having over £25,000 in savings with them. Stupid thing is they let me put the same account on my iPhone so it acts like a contactless card.

Cheesey123

Chelsey did you try getting a different "full" account? My experience was not good, tried to open a SANTANDER 123 when it was worth having, no deal. Then asked Co-Op to make my Cashminder account a full one, so I could have a contactless card, no deal, despite being with them for over six years and having over £25,000 in savings with them. Stupid thing is they let me put the same account on my iPhone so it acts like a contactless card.

I decided to apply for a Select Account with Natwest as I have been banking with them for a few years and my savings are also with them. I was accepted with full facilities, contactless debit card, apple pay and a chequebook. I did not apply for an overdraft. I applied over the phone and was given the decision straight away, account showed the following day on internet banking and I recieved my card, pin and chequebook in the next few days.:T

Wild_Will

I returned to the UK after several years overseas last year. I claimed Jobseekers Allowance for a couple of months and, unable to get a bank account, I opened a Post Office Card account to have my benefits paid into.

I then got a full-time job and needed a basic account in to which to pay my salary. To this end, I went to The Halifax (simply because I know someone who works at my local branch), who told me that I couldn't have an account because I had no credit history. So I asked about a basic account and was seen by a thoroughly snooty woman sporting a badge which proclaimed her as "Employee of the Year," or some such nonsense. I had my driving licence as proof of ID and my tenancy agreement as proof of address (my utility bills are included in my rent.)

I was told that only council tenancy agreements count as proof of address, so my private rented one was invalid. No matter -- I had a recent statement from the Post office account.

No, sorry -- it wasn't a "Bank or Building Society," so that didn't count either.

But, I protested, I'm on the electoral roll and my address is on my driving licence. Ah, but you're using your driving licence as proof of ID, so you can't use it to prove your address as well.

So I went home and returned with my passport for proof of ID, using my licence to prove my address and was finally issued with an account number, which I duly gave to my employer.

About I week later I received a brusque letter from The Halifax saying that "after making further checks, we are no longer able to offer you an account." No explanation as to why or what these "further checks" were. I have no bad credit or criminal convictions, but I'd had enough of this fiasco so I didn't grace them with a request for an explanation.

I went to Barclay's on the advice of this site. I was seen at once by an excellent advisor who actually made me feel wanted as a customer. I explained that I'd been turned down for a basic account at The Halifax and that all I wanted was somewhere I could have my salary paid into. She said that, since I had no bad debt on record, I qualified for a full current account, which was promptly set up.

I've had the account since and am more than happy with it. They seem to be more than happy with me too. I recently enrolled on a vocational post-grad course at uni and paid the fees with the help of a £5000 loan from them.

So two fingers to you, Halifax. You suck!

Robinwren

I want to open a joint account with my husband as a bill sharing account. The issue is that my credit history is excellent but his is not so good. Because of that we don't want a financial link between us - everything else is in our individual names. Do basic accounts report to the credit agencies?

amcd1989

Ive joined Virgin money, applying was a breeze and the services are great. Customer service is superb too!
However the limited access to online banking is a 'mare! the nearest branch isnt too easy to get to and setting up standing orders and direct debits or faster payments is just a pain!

I love virgin money i really do and i'm hard pressed to leave but i'm spending a fortune just getting in branch to do my day to day banking.

I've made the choice to open a basic account else where as we just dont have the financial stability (and probably credit score still) to move to a current account. We are self employed and a 2 hour round trip to set up a standing order is 2 hours where i could be working!

Can anyone tell me more about their experience with Santander's or HSBC's basic bank accounts?

Cheers guys :money:

2Lancahire_Lassie

I am currently being advised that the Halifax are forcing people into a current account. I have had strong words about not wanting to change my account. I am financially ok. I really love no money no spend. I feel they are forcing people to have more debt by chancing they go overdrawn and make a lot of money. any suggestions please how to keep my account as it is or others having same problem?

Anthorn

2Lancahire_Lassie wrote: »

I am currently being advised that the Halifax are forcing people into a current account. I have had strong words about not wanting to change my account. I am financially ok. I really love no money no spend. I feel they are forcing people to have more debt by chancing they go overdrawn and make a lot of money. any suggestions please how to keep my account as it is or others having same problem?

What do you mean by "forcing" and which accounts are affected? Do you mean that you don't get the choice and you are being forced into an account you don't want? In that case I advise that if a fee is charged for the account you don't want then it's a clear case of mis-selling.

the_cats_wiskers

It was recommended to me by Citizens Advice to open a Basic Bank Account so I could not go overdrawn. I have a current account with Nat West and the interest and overdraft charges were high. I never asked for a overdraft account just got moved on to it. I approached Nat West and said I was having financial difficulties. They were very unsympathetic never mentioned they had basic accounts. I'm on JSA actively looking for work and struggling to make ends meet. I asked Barclays online if I need an appointment. I was told to just turn up at branch with I.D. When I got there I waited a long time to be told, I needed an appointment ? When I asked to make an appointment I was told there would be a waiting time of four weeks ! I have since applied to HSBC. The banks don't want you to open basic accounts as then they can't charge expensive overdraft charges.

eskbanker

the_cats_wiskers wrote: »

It was recommended to me by Citizens Advice to open a Basic Bank Account so I could not go overdrawn. I have a current account with Nat West and the interest and overdraft charges were high. I never asked for a overdraft account just got moved on to it. I approached Nat West and said I was having financial difficulties. They were very unsympathetic never mentioned they had basic accounts. I'm on JSA actively looking for work and struggling to make ends meet. I asked Barclays online if I need an appointment. I was told to just turn up at branch with I.D. When I got there I waited a long time to be told, I needed an appointment ? When I asked to make an appointment I was told there would be a waiting time of four weeks ! I have since applied to HSBC. The banks don't want you to open basic accounts as then they can't charge expensive overdraft charges.

Most banks won't let you open a basic account if you already have an existing current account, i.e. they're typically intended to be used by those who can't get a full-function account rather than those wishing to manage/avoid debt.

https://www.hsbc.co.uk/current-accounts/products/basic-bank-account/ states in its eligibility criteria that "You must not continue to hold a bank (payment) account with another UK provider".

Is your existing account overdrawn? If so, you'd need to repay the overdraft in order to close it, or if you started paying your income elsewhere they'd probably insist on repayment anyway....

NatWest, like all banks, are supposed to take notice of financial hardship where practical, are they complying with what they say at https://personal.natwest.com/personal/life-moments/Struggling-financially.html? What were you asking them to do and what did they offer? Is the overdraft control facility available on your account?

Jonibobs

I applied for a basic Bank Account for work purposes at Santander Bank in Morecambe. I had with me my UK Driving Licence, Passport, Government tax letter as well as one or two others for Identification.

The lady in the bank started to arrange an appointment, before informing me, the identification I had with me would not be sufficient to open a basic bank account. I asked the reason why?, and was told I needed an official form of address. I thought my Passport Driving Licence an Tax Letter, were the most official amyone could have.

Apparently only a Utility Bill do Santander officially accept as proof of address. Being a lodger and not the home owner or rental tenant, I were unable of providing one.

I mentioned that according to their website my identification were more than sufficient.

Anyhow disappointingly my appointment was cancelled. An I were left feeling a little Grudged