Basic Bank Account Thread

pmduk

I don't know about the banks you mention but both Co-op and Yorkshire Bank will allow cash deposits at the counter. In fact I only know of the Halifax placing such restrictions, though I may be wrong.

book12

Vaffen wrote: »

I'm looking to open a basic account. Which is the best bank to go with? I'm leaning towards either Barclays or Natwest.

Will any of the banks allow me to deposit cash at the counter into my basic account?

Yes, the bank will allow you to deposit cash at the counter into your basic account.

I would recommend Barclays. You only need one piece of ID to open (passport or driving licence preferably). Account details available on the day, unlike Natwest.

Freepost

I have only recently seen the offer from the Halifax for the reward payment of £5.00 for each calendar month that a £1000.00 is deposited. It seems that there are not very many restrictions on this account and assume that it is possible to deposit the £1000.00 and then move it out to another account by standing order just for it to be returned the next month from the other account.

Is my understanding correct and if so are there any other accounts that are similar that I could bounce the £1000.00 between in order to collect the reward/s? I know that this is not the spirit that the Halifax is offering this account but what the heck the banks have made enough money over the last years, I'd like to cream some back!

allyb79

BUYER BEWARE!!
Just been going through opening a basic bank account with Bank of Scotland. At first I was refused an account because of adverse credit history (a mistake on the part of the loan company).

I then went back a few weeks later to update my details and do a secondary application.

It was then that I was told that I had been accepted for a 'basic acount' (which is what i'd asked for in the first place).

When I queried why they had tried to open me a top level account complete with overdraft I was told that they aren't allowed to open a basic account for first time customers and that they have to try and sell them an overdraft etc etc.

I was quite shocked at this as they had gone against what I had requested, done credit searches on my file and then initially refused me an account because they couldn't give me an overdraft that I didn't want in the first place!!!

Please please be aware of exactly what they are trying to open for you and be specific about what products you do and don't want..... banks are there to make as much money from you as possible!!!

izools

book12 wrote: »

Yes, the bank will allow you to deposit cash at the counter into your basic account.

I would recommend Barclays. You only need one piece of ID to open (passport or driving licence preferably). Account details available on the day, unlike Natwest.

That and after six months of my having a Cash Card account with Barclays they opened me a fully current account despite only having been discharged from Bankruptcy March 09

Vaffen

Could someone give me a step-by-step guide of what I will have to do when opening a basic account with Barclays?

What will I need to take with me? How long will the procedure last?

This is the first bank account I am opening.

Thanks a lot for all the help.

book12

Vaffen wrote: »

Could someone give me a step-by-step guide of what I will have to do when opening a basic account with Barclays?

What will I need to take with me? How long will the procedure last?

This is the first bank account I am opening.

Thanks a lot for all the help.

Bring one piece of ID (UK passport or driving licence). The account opening process takes less than 10 minutes.

You will then be provided with the account details.

Vaffen

book12 wrote: »

Bring one piece of ID (UK passport or driving licence). The account opening process takes less than 10 minutes.

You will then be provided with the account details.

Thank you very much.

Vaffen

Well I went to Barclays this morning and things didn't go to plan.

Firstly Barclays do call their basic account a 'Cash Card Account' right?

After telling them I wanted to create a cash card account, the guy tried to sell me a current account. After a few more attempts from him and me standing my ground he backed down and handed me an application form. And I was told it would take about three weeks to process my details because of people on student visas applying.

I had to bring the form home because I didn't have my NI number with me. I only took my passport. On the form it asks me to provide two proof of identity, one for identification and another for address.

Can National Insurance number be used as proof of address? And will writing it down on the form be enough. Or will I have to send the card?

Also the form asks me for 'Value of property (if owned)' and 'Outstanding mortgage'. Will I need to fill this out? Because I live with my parents.

So not a good experience, very frustrating. Barclays came across as unprofessional and unorganised. When I asked the employee if I could take the form home because I didn't have my NI number with me, she told me I didn't have to provide that. Why is it on the form if I don't have to provide it.

And finally the form asks me if I want to request a Cash Card and a PIN or a Barclays Debit card and a PIN. What is the difference?

book12

Vaffen wrote: »

Well I went to Barclays this morning and things didn't go to plan.

Firstly Barclays do call their basic account a 'Cash Card Account' right?

Yes.

After telling them I wanted to create a cash card account, the guy tried to sell me a current account. After a few more attempts from him and me standing my ground he backed down and handed me an application form. And I was told it would take about three weeks to process my details because of people on student visas applying.

Some branchces still want customer to open a Cash Card Account by post, while some will open it in branch.

You could have said yes to it. Get declined, and it will automatically open the Cash Card Account.

It does take a long time when doing it by post.

I had to bring the form home because I didn't have my NI number with me. I only took my passport. On the form it asks me to provide two proof of identity, one for identification and another for address.

Can National Insurance number be used as proof of address? And will writing it down on the form be enough. Or will I have to send the card?

The NI number can't be used.

Also the form asks me for 'Value of property (if owned)' and 'Outstanding mortgage'. Will I need to fill this out? Because I live with my parents.

No.

So not a good experience, very frustrating. Barclays came across as unprofessional and unorganised. When I asked the employee if I could take the form home because I didn't have my NI number with me, she told me I didn't have to provide that. Why is it on the form if I don't have to provide it.

You could try other banks like Natwest/RBS if you are unhappy.

And finally the form asks me if I want to request a Cash Card and a PIN or a Barclays Debit card and a PIN. What is the difference?

A cash card doesn't let you buy things online. A debit card can let you buy things online, and it has a chip. Choose the debit card option.