Basic Bank Account Thread

nic.cj

Hello All

I have a basic bank account that I've had for a while, I have been contacted by them to see if I want to upgrade it to one of their standard accounts do you think it's worth me changing over, would there be any benefit in me doing so?

book12

nic.cj wrote: »

Hello All

I have a basic bank account that I've had for a while, I have been contacted by them to see if I want to upgrade it to one of their standard accounts do you think it's worth me changing over, would there be any benefit in me doing so?

Which bank is it with?

In my opinion, it's worth it, as you can get an overdraft and/or chequebook.

coolesticeking

nic.cj wrote: »

Hello All

I have a basic bank account that I've had for a while, I have been contacted by them to see if I want to upgrade it to one of their standard accounts do you think it's worth me changing over, would there be any benefit in me doing so?

It depends really which bank this is with - For example Barclays & NatWest would have to give you a new Account Number as they can't upgrade a Basic Bank Account.

If you need a Chequebook, Overdraft or a Offline Debit Card (Ones that can be used at Pay@Pumps, Trains etc) then a full bank account would be of use to you.

nic.cj

Hiya

Thank you for the replies.

It's with the co-op cashminder account. I think the only difference is a cheque book and potential overdraft.

StudentOfBusiness

I have a CashCard+ from Nationwide and have used to to purchase and pickup train tickets and use at Pay@Pump at ASDA...

book12

nic.cj wrote: »

Hiya

Thank you for the replies.

It's with the co-op cashminder account. I think the only difference is a cheque book and potential overdraft.

Definately upgrade your Co-op account, as the basic account is not as good as the Cashminder one.

pmduk

Surely with the co-op the cashminder account is the basic bank account?

nic.cj

pmduk wrote: »

Surely with the co-op the cashminder account is the basic bank account?

Yes thats right the cashminder is the basic one

Binkey_2

Hi there, sorry if this has been mentioned before, but Yorkshire Bank do a basic bank account called Readycash which seems like a good one to have.

Pro:
24hr Telephone and Internet banking.
Maestro Debit card.
Can withdraw up to £350 per day from ATM's etc.
Counter service.

Con:
You have to apply either in branch or over the phone - not online.
If you want a statement on a more frequent basis than what they issue as standard, you can request it but will be subject to a charge.

I'm going to sign up for this account in the not too distant future as there is a branch within [long!] walking distance that I can get to easily. I'll let everyone know if all goes according to plan once I've made my application.

Hope this helps

~ B xx

pmduk

I'd class a Maestro debit card as a con rather than a pro. Visa debit cards offer additional protection for purchases.