Basic Bank Account Thread

slenderkitten

book12 wrote: »

Nice card jsmith.

What's the first 4 digits of the card? As you know each bank is different.

is it really necessary to ask for that lol

book12

slenderkitten wrote: »

is it really necessary to ask for that lol

Not really, lol.

Anyway, I found out on this post: http://forums.moneysavingexpert.com/showpost.html?p=25612871&postcount=27

lsc1980

sgx.saint,

in reply to your original message - you seem to be interested in international banking.
i'd just like to share my (negative!) experience with Barclays Wealth to say that I would definitely NOT recommend them.

I recently had a shocking experience of trying to exchange Euros into Pounds and, “thanks” to a mis-adventure, started to scratch the surface and to realise how much money Banks are still allowed to rip customers off on currency exchange.

I have 2 accounts with Barclays Wealth: a Euro account and a Sterling account, both in my name.
I moved a significant sum from my Euro to my Sterling account a few weeks ago, effectively exchanging Euros into Sterling in order to purchase my flat. (as an aside, I’d also like to say that I was pressured into doing this a few weeks ago because the Barclays Wealth experts thought that the Pound was going to strengthen… and whilst I accept that predicting exchange rates is a bit of a dark art, I trusted the “expert advice” but instead the exchange rate has gone into the other direction and I lost quite a bit of money… maybe the Barclays Wealth experts aren’t so expert after all…)

I was offered a “preferential rate” at the time and, given that I am a customer as well as Barclays employee, I (silly me!!) trusted them blindly and didn’t do my research.
Last week I then had to exchange a further sum and the exchange rate I was offered was not “preferential” this time...there was effectively a whole 4% difference between the quote and the "real" rate (which incidentally in my case equated to being ripped off by €900, which I wasn’t willing to accept!)

In the end I contacted First Direct who is now going to converting my euros into sterling at a rate pretty close to the “real” exchange rate, so I thought I'd rather do that (and have some money left for a bed and a closet) than effectively paying a commission of €900 to Barclays for a simple currency exchange.
I dare not think about how many more beds and closets I could have bought by doing the exchange with First Direct in the first place...

Bottom line:

• This was the last time Barclays has seen my custom
• First Direct are absolute stars!

lsc1980

sgx.saint,

in reply to your original message - you seem to be interested in international banking.

i'd just like to share my (negative!) experience with Barclays Wealth to say that I would definitely NOT recommend them.

I recently had a shocking experience of trying to exchange Euros into Pounds and, “thanks” to a mis-adventure, started to scratch the surface and to realise how much money Banks are still allowed to rip customers off on currency exchange.



I have 2 accounts with Barclays Wealth: a Euro account and a Sterling account, both in my name.

I moved a significant sum from my Euro to my Sterling account a few weeks ago, effectively exchanging Euros into Sterling in order to purchase my flat. (as an aside, I’d also like to say that I was pressured into doing this a few weeks ago because the Barclays Wealth experts thought that the Pound was going to strengthen… and whilst I accept that predicting exchange rates is a bit of a dark art, I trusted the “expert advice” but instead the exchange rate has gone into the other direction and I lost quite a bit of money… maybe the Barclays Wealth experts aren’t so expert after all…)


I was offered a “preferential rate” at the time and, given that I am a customer as well as Barclays employee, I (silly me!!) trusted them blindly and didn’t do my research.


Last week I then had to exchange a further sum and the exchange rate I was offered was not “preferential” this time...there was effectively a whole 4% difference between the quote and the "real" rate (which incidentally in my case equated to being ripped off by €900, which I wasn’t willing to accept!)


In the end I contacted First Direct who is now going to converting my euros into sterling at a rate pretty close to the “real” exchange rate, so I thought I'd rather do that (and have some money left for a bed and a closet) than effectively paying a commission of €900 to Barclays for a simple currency exchange.

I dare not think about how many more beds and closets I could have bought by doing the exchange with First Direct in the first place...



Bottom line:

• This was the last time Barclays has seen my custom
• First Direct are absolute stars!

jsmith9156

book12 wrote: »

Nice card jsmith.

What's the first 4 digits of the card? As you know each bank is different.

4658 43

James

MBISON_2

book12 wrote: »

Did you apply for the Cashminder account or the 'current account'?

It was the cash minder account, not current. They did multiple credit checks on me. First at the branch, then they sent off the application and said they needed additional credit checks. Then a few days later, I got my rejection letter. I didn't think they would do a full credit check on a basic account.

skintwithiva

Hello All.

Thought I would give you all my experience with 2 basic Accounts.

The first one is the co-op :

Good customer service
Debit Card ( think its a full Visa now )
Shows on your credit rating
Good internet banking

I was very happy with this account

The second was Yorkshire Bank :

Again good customer service
Debit card ( full Maestro, works in petrol pumps )
Good internet banking ( not as easy as the co-op )
Any transactions show in real time, so if you pay using your card it shows the real balance on the internet banking. This is the main reason I changed account.
They like you to go to the branch to open the account, some people like this.

I am again very happy with this account.

jsmith9156

book12 wrote: »

Looks like you are on your way to getting the account then.

Well my Coventry account is now fully setup. I have to say they are very fast at sending cards/paperwork out and within less than a week of applying I had got my Card, PIN and online banking details.

A plus with the online banking is that it's shows your balance in real time, Unlike the Co-op's Cashminder :T Plus having a branch here in Milton Keynes is an added bonus

All in all I'm very happy

James

teffers

jsmith9156 wrote: »

A plus with the online banking is that it's shows your balance in real time, Unlike the Co-op's Cashminder :T Plus having a branch here in Milton Keynes is an added bonus

All in all I'm very happy

James

Yeh that's the only thing that annoys me with my COOP account, the fact it takes days and days for debit transactions to show up on your balance.

qualitytees

Hi can somebody tell me how i apply for the account with coventry?