HELP! Need to open a joint bank account but been refused!

madkoi

Hi

I have a sole bank account with HSBC for over 10years & my BF has a bank account with Natwest, for many years too.

We want to open a joint bank account so we can pay our money in to pay our bills. HSBC have declined us & I am worried that if i go to another bank they will say the same thing.

My credit rating is not brilliant & my BF's is probably worse!

Does anyone know of a bank that is a bit more leanient?

xx

Pott5y

Natwest have a Step account which can be set up in joint names. Although you won't get a cheque book or overdraft you do get a Visa Debit Card and you can manage the account online and pay direct debits and standing orders. I have had one of these for 6 years and I personally get on well with it.

RAS

Is this wise?

If your credit rating is not brilliant and BFs is worse, yours will be worse when you get a joint account. Having one of you with an improving credit rating would help with things like renting.

There are loads of basic bank accounts that do not require credit checks which might be safer as well, because they do not alow you to accrue overdrafts.

madkoi

Just looked at Natwests website, the Step account is just what we need, a basic account to pay money in & pay bills. I hope they accept us! All we want to do is sort our money out!:A

Pott5y

Just a quick query.

Are you on a DMP and do you owe Natwest any money. (You or BF).

If this is the case then Natwest can do what they call offsetting. Using the funds in one account to pay off bad debts on another account or loan.

If so it might be better to try the Cashminder Card at the Co-op.

madkoi

Pott5y wrote: »

Just a quick query.

Are you on a DMP and do you owe Natwest any money. (You or BF).My BF has an overdraft on his sole account

If this is the case then Natwest can do what they call offsetting. Using the funds in one account to pay off bad debts on another account or loan.But they cant take money from a joint account as they would need my permission. I used to work at Nationwide building society & they did that there, but there are rules to it.

If so it might be better to try the Cashminder Card at the Co-op.Thanks I will have a look into it

Thank you for your help

Tixy

Hi
They can and do offset from joint accounts if a sole account holder goes over their overdraft limit or runs into payment difficulties. Lots of example of it on here and its being used much more frequently by banks now.

caz246

madkoi wrote: »

Hi

I have a sole bank account with HSBC for over 10years & my BF has a bank account with Natwest, for many years too.

We want to open a joint bank account so we can pay our money in to pay our bills. HSBC have declined us & I am worried that if i go to another bank they will say the same thing.

My credit rating is not brilliant & my BF's is probably worse!

Does anyone know of a bank that is a bit more leanient?

xx

My partner and I both have bad credit and have recently opened a joint account with RBS.