Parachute Account Assistance

Edinburghlass_2

Have a read of the Basic Bank Account thread above however don't worry too much about your bank maybe closing your account as this may well not happen, a parachute account is a precaution.

Neillabrador

Am trying to help my daughter to claim back bank charges. But first we have been trying to get a new on-line current account and have failed after two attempts.
She is unemployed receiving allowances equivalent to about £15,000 a year including housing benefit and is divorced with two children.
She has about £5000 in debts being paid back regularly through B&E.

She probably does not have a good credit rating

Has anyone any advice on how to get a new bank account.

casement

I have read both articles about reclaiming bank charges.

Like many people, I have an agreed overdraft, in my case of £1500, which I cannot possibly afford to pay back.

My problem is that I am unemployed and I think that it is very unlikely that I would be accepted either for an overdraft by another bank or for a credit card.

If anyone could give me any advice regarding this matter, I would be very grateful.

pigginsexy

Try Citibank and Bank of Scotland basic account (you can use these both on line for banking etc, you just dont get overdraft facilities). Go through Quidco and get cashback as well.

Somewhere on here there is a thread on basic bank accounts and there is also a thread all to itself on Citibank. I shall try and find them and post link.

The link is http://forums.moneysavingexpert.com/forumdisplay.html?f=20

Edinburghlass_2

Edinburghlass wrote:

Basic Bank Account thread

Please check out the Budgeting and Current Account board for finding a bank account.

nickmack

casement wrote:

Like many people, I have an agreed overdraft, in my case of £1500, which I cannot possibly afford to pay back.

My problem is that I am unemployed and I think that it is very unlikely that I would be accepted either for an overdraft by another bank or for a credit card.

Is there anyone who could help you out replaying the OD? You could really do with the safety of a parachute account.

You need to consider carefully about the risk. If your account was to be closed, you would need to repay the overdraft, would the reclaimed fees cover this? It may be an idea to wait until you're in a better position.

me4bargains

Hi I've decided to claim against my bank (Nationwide) but I currently have a £1,500 overdraft with them so if they play silly beggers and close my account I'm stuffed.
I applied for A&L premier account but they turned me down.
(my credit rating isn't the best)
They offered me a bsaic account with a Visa electron card which isn't mush use to me.
Can anyone recommended another bank who aren't as 'choosy'?
I'll be paying in a minimum of £1,500 per month.
Thanks

Edinburghlass_2

Edinburghlass wrote:

Please check out the Budgeting and Current Account board for finding a bank account.

Basic Bank Account thread.

Citibank

feefee_3

hi
please is there any bank account you can just open with a few £ untill i either stay with my bank or switch
thanks

Chev_2

Hiya,

Could someone with more logic than me, please give me some advice?

I really want to get onboard with reclaiming my bank charges, but would like to know how you can afford to have a parachute account (which requires money to be paid in on a monthly basis) running at the same time as your own account? Help!!!!

Many Thanks
Chev