Basic Bank Account Thread

usedandabused

paulasx wrote: »

I have just looked at copies of my credit report from experian and equifax, although i have no CIFAS flags, ccjs, bankruptcy, gone aways or ivas, they do show defaulted accounts from nearly 6 years ago. My electoral roll is up to date, however i do have an account which shows i am a couple of months behind in payments - this is a doorstep loan and the reason i am behind is the agent regularly fails to turn up; i didnt realise this was reported on here, so i am going to contact the company and tell them each time she doesnt call, and hopefully this will improve. The only other thing i can see is my catalogue, although completely up to date since i opened it, is showing a balance of 196 when my limit is 200. it is not showing my last payment which reduced the balance by a lot; could this affect anything?
my only alias's are my name now and my maiden name, although there are 12 records showing! and i am only linked to my husband
could these old defaults be the reason i am getting turned down for bank accounts?:(

if the defaults are nearly 6 years old, most banks will offer you a full current account, depending on your income etc

It is the doorstep loan, and the fact that your caterlogue is showing you're effectively at the limit which could be putting them off, but you should be able to a basic account from most banks!

it is not like you want credit from the bank now is it?

paulasx

just had a phonecall from barclays, they have turned me down for a basic account with a suggestion i obtain copies of my credit report, which i have!
I honestly cannot see why i have been turned down, yes there are defaults and yes there are late payments but i am not asking for credit, i have no ccjs and my most current credit accounts are up to date! i am honestly getting quite upset now, and am starting to feel like a criminal; i wonder if i declare myself bankrupt would i get any joy anywhere - i am now going to have to get a managed account and pay for the priviledge I think a trip to CAB may be on the cards aswell, but i honestly dont feel like i am going to get anywhere

usedandabused

paulasx wrote: »

just had a phonecall from barclays, they have turned me down for a basic account with a suggestion i obtain copies of my credit report, which i have!
I honestly cannot see why i have been turned down, yes there are defaults and yes there are late payments but i am not asking for credit, i have no ccjs and my most current credit accounts are up to date! i am honestly getting quite upset now, and am starting to feel like a criminal; i wonder if i declare myself bankrupt would i get any joy anywhere - i am now going to have to get a managed account and pay for the priviledge I think a trip to CAB may be on the cards aswell, but i honestly dont feel like i am going to get anywhere

please don't get upset, we'll all help you figure out what the problem is, and please don't think of yourself as a criminal.
This is why i detest most financial institutions, they treat subprimers with utter disdain, instead of trying to offer assistance to the people that need it the most, they slam the door in your face time and time again.
I have been at that exact stage, and only recently have I started to climb the ladder, still have 4-5 years before the report gets a clean bill of health.

Have you tried co-operative and/or Nationwide cashcard, which from June will come with a debit?

If as you say your credit report indicates nothing sinister, have you tried the following, you’ve probably answered it but a quick checklist:

· On the electrol roll
· Are you linked financially to anyone else with bad credit
· Are the address details correct
· Have you made several applications where you need to be credit checked?
· Have you tried asking specificly for a basic account?

It seems there may be a problem with your id, are you sure no one has committed id theft?

If I was you,the next place you apply for a BASIC account, you should go armed with news of the budget 2010 where everyone should have a right to a basic bank account, also try make the application face to face in branch, be honest with them, explain your circumstances fully and I’m sure you should be able to get an account.

usedandabused

BTW IF you really want to go down the route of paying to have a basic bank account, the most reputable one I can think of is thinkmoney . com

usedandabused

http://www.thinkmoney.com/banking/end-to-hidden-charges/

cifpower

usedandabused wrote: »

http://www.thinkmoney.com/banking/end-to-hidden-charges/

£25 set up, £12.50 a month and a debit card that doesn't work everywhere.

I would rather have the Halifax Easycash with an Electron card

pmduk

I'd try the Co-op and/or Lloyds TSB before I considered paying for a basic bank account. spending £150 per a year for something I can easily do myself seems a dreadful waste of money imho.

paulasx

pmduk wrote: »

I'd try the Co-op and/or Lloyds TSB before I considered paying for a basic bank account. spending £150 per a year for something I can easily do myself seems a dreadful waste of money imho.

We were with co-op originally, but they shut the account after we had 3 strikes in the 5 years we were with them. yes I know this is our fault for allowing this to happen, but one strike for being 3p too short on a dd was a mistake on our part , one for getting our dates mixed up - something which has happened before as we have 3 kids ; and once when a debtor took a reccuring payment out when we weren't expecting it, yes they were all avoidable but im sure there are many people who have made similar errors. co-op however did not listen to our appeal and shut the account just before christmas. we luckily have a smartsaver account with them for our money to be paid into or we would be in worse straits!
Since then we have been turned down by rbs, yorkshire and barclays, rbs accepted us initially then turned us down following further checks. I applied to halifax and they have asked for further id which i havent sent yet as i think the same thing will happen. I cannot go to natwest as i mentioned in an earlier post.
I am planning on printing my credit files and taking them to the CAB to see what they think, i have a couple of defaults which are nearly 6 years old, no ccjs or fraud flags, and green boxes on my recent credit agreements i.e. catalogue. I have also recently passed a credit check with virgin for broadband/cable/telephone, as well as a mobile contract.
i was wondering if it was because although i am receiving an nhs bursary, i am not classed as working, and i dont receive any benefit other than child allowance and ctc.
As for id fraud, would this not be noticeable on my credit file?
I would love to not go down the route of paying for a bank account, but feel i am left with no other option as i am obviously unwelcome in the banking industry

paulasx

If as you say your credit report indicates nothing sinister, have you tried the following, you’ve probably answered it but a quick checklist:

· On the electrol roll
· Are you linked financially to anyone else with bad credit
· Are the address details correct
· Have you made several applications where you need to be credit checked?
· Have you tried asking specificly for a basic account?

It seems there may be a problem with your id, are you sure no one has committed id theft?
I am on the electoral register, for my last 3 addresses;
I am only linked to my husband, and yes he has got adverse credit, defaults and ccjs although we are paying them, and he has recently been accepted for a capital 1 card which we are going to try and repair some damage with by using it for small amounts and paying it off in full each month;
Address details are all correct; the only things i have applied for in the last 12 months are bank accts, my cable etc, and a catalogue account which are showing as satisfactory; and if there was id theft shouldnt there be more accounts or searches showing ???
I admit we have had troubles in the past, but we are trying to put this right and start afresh, however this is proving quite difficult! I honestly dont know how money launderers and fraudsters do it!!!!!

Toe-Jam

paulasx wrote: »

just had a phonecall from barclays, they have turned me down for a basic account with a suggestion i obtain copies of my credit report, which i have!
I honestly cannot see why i have been turned down, yes there are defaults and yes there are late payments but i am not asking for credit, i have no ccjs and my most current credit accounts are up to date! i am honestly getting quite upset now, and am starting to feel like a criminal; i wonder if i declare myself bankrupt would i get any joy anywhere - i am now going to have to get a managed account and pay for the priviledge I think a trip to CAB may be on the cards aswell, but i honestly dont feel like i am going to get anywhere

It sounds like your being flagged on national hunter for application inconsistencies, and rather than bother to investigate them, they just decline the applications. You can test this if you like by opening an online savings account with someone like Barclays, if they decline it because you "don't meet their criteria" your considered a fraud risk and should stop applying for things for 13 months or you'll make it much worse for yourself

P.S i'm not saying your a fraud risk, just one possible reason why its happening to you and you don't see CIFIS markers on your credit file if you are suspected of fraud, only if you are considered at risk from fraud or have been a victim