Basic Bank Account Thread

pmduk

The Co-op and Barclays are reported to be best for bankrupts. Barclays will certainly (in my experience) give you the third degree as to why you only want a basic account. Stand your ground.

questionabout

pmduk wrote: »

The Co-op and Barclays are reported to be best for bankrupts. Barclays will certainly (in my experience) give you the third degree as to why you only want a basic account. Stand your ground.

With Barclays (Cash Card with Visa Debit Option) its easier if you say you just want a basic 2nd account for paying separate bills and that your main account (elsewhere) is a Joint account so you cannot switch. They will then try sell you Insurance and Savings accounts during the application process but won't credit check you.

davidgmmafan

So my hunch is correct they want you to go in or talk to them so they can push the other accounts and stuff they do get commission for. I'd like to have it with the Co-op if possible, BTW I'm bankrupt now but I will be in six months or so, is it worth mentioning that? Or should I tell a little white lie?

I don't want an overdraft of a chequebook, hell nobody will have chequebook if the banks get thier way, so its not like they are taking a risk...

I vaguely remembering something from when I worked at Nationwide, something like a person has a right to A bank account, but if they already have one another bank is not obligated to offer them an account, even a basic one. Not sure if its a rule or just somebodies opinion.

smithyjules

HI there could anyone tell me if the Co-op basic account is Visa electron or debit?would be really appreciated thank you!

pmduk

The card is badged as Visa Debit. However the cards on his account was originally badged Visa Electron and there are many reports that some retailers are still treating the card as an Electron card.

Fedz

Yeah the Nationwide : Cash Card+current account is a Visa debit card. I have one

pmduk

davidgmmafan wrote: »

I vaguely remembering something from when I worked at Nationwide, something like a person has a right to A bank account, but if they already have one another bank is not obligated to offer them an account, even a basic one. Not sure if its a rule or just somebodies opinion.

Sounds like an ill-informed opinion to me. There isn't a general rule to say that a bank is ever obliged to offer someone an account, regardless of whether they have other accounts or not.

davidgmmafan

I thought there was something around financial inclusion, but its probably some vague 'principle' rather than any kind of rule. This cropped up in a discussion around company policy ie if somebody already had a basic account Nationwide didn't want to offer them one, but if they had no account at all then they would.

GoodNewmover

davidgmmafan wrote: »

Very interesting and worthwile thread this...

Will the fact that I have a basic account with one bank cause others to knock me back?

Wondering the same thing. So if I have two current accounts and one business account and decide to go for a basic account (for everyday use) would having a basic account affect credit rating/scoring etc? Anyone know?

zppp

davidgmmafan wrote: »

I thought there was something around financial inclusion, but its probably some vague 'principle' rather than any kind of rule. This cropped up in a discussion around company policy ie if somebody already had a basic account Nationwide didn't want to offer them one, but if they had no account at all then they would.

I think there was alot of discussion about this at the election. However I can't remember who said what. I imagine the 9% of financially excluded adults in the UK will eventually have access to banking facilities, when the government pulls it's finger out!