Basic Bank Account Thread

thespudman

stickman wrote: »

Hi All,
Having read various posts on the site and contacting the various banks I have come to the conclusion that if you have a basic bank a/c all of the debit cards issued require "electronic" verification of sorts and that if the retailers/online purchasing do not have/use that facility then you cannot purchase.
I currently have co-op cashminder with visa debit but when I go to use some sites/retailers don't accept. Contacted co-op who said that though card shows visa debit it still is in fact an "electron" type card and that due to my circumstances I can't go to "full" visa debit by opening a "current" a/c.
Fact is I don't want all the facilities of a current a/c just the visa debit side of it. My friend has co-op current a/c but has declined overdraft and cheques and cheque guarantee facilities of that a/c.So in essence he has exactly the same facilities as me ie can only spend what is in the a/c but his card is accepted everywhere unlike mine. It is obvious that the "electronic" side of basic a/c cards is the stumbling block.
Why can't basic a/c holders be afforded the same debit card facilities as current a/c holders with the above qouted stipulations.
Thanks

Just thought i would comment on this post, Sorry if it has allready been mentioned.

When i worked for HSBC there were two types of cards issued on Visa Debit. 300 Limit and ALL AUTH. The difference was the 300 limit cards would allow OFFLINE authorisations of transactions up to the value of £300 - this can be when the retailers phone line goes down at the till, Pay at Pump, In flight purchases and ATM withdrawls when the link network is down. The ALL AUTH cards are like the Vidsa Debit implimentation of SOLO where every transaction needs to be authorised online.

The cards physically look the same and the customer had no knowledge as to which they had.

During the application process the system prompted as to which they would get based on criteria.

soullink

Hiya people,

I'm not sure if this bank has been mentioned before as I really didn't have time to read through 51 pages of posts. However, if it hasn't been covered before, here's the basics...

- No setup charges

- Minimal credit checking

- Downside - £12.50 / month account fee (but that's what I paid Barclays for to screw me over each month).

- Another Downside - Charge of 50p for all cash withdrawals from your card (though card payments in shops and online are completely free).

- Prepaid Mastercard - i.e. you can only spend what you put on your card. This SERIOUSLY helps you budget your spending.

- Automatic Card Loading - Set an amount of cash to automatically be loaded onto your card either monthly or weekly to help you budget your spending.

- No overdraft - so no overdraft fees.

- No Direct Debit fees - basically, if you can't pay it, they just cancel the DD with no fees. You just have to set it up again when you can afford to.

- Online banking - You can make one-off payments to certain accounts, or set up standing orders just like most other bank accounts.

- Mail notification - If you can't make a payment via Direct Debit or Standing Order, they'll notify you by post so you will kow if you've missed something.

- Cash Back Offer at certain Stores - There is a list of stores that are slowly growing which currently includes: Asda, New Look, JJB Sports, American Golf, Topshop, Topman, Burton, Outfit, Wallis, Miss Selfridge, Dorothy Perkins, Evans, Waterstones, HMV, Domino’s Pizza, TGI Fridays, Pizza Express, B & Q, Homebase, Halfords, Comet, BHS, Debenhams, House of Fraser, H Samuel, Virgin Experience Days, Toys R Us, Mothercare, Leslie Davis, Ernest Jones, Thorntons, Boots, Argos, Goldsmiths ... Upto 4% return available for qualifying purchases.

I've had this account for nearly 2 years now and it's really helped me to kurb my spending. Basically, I worked out what all my fixed bills totalled upto each month on average, then added 10% to the total for variables like Landline and Mobile costs - and the rest is transferred to my card so I know how much I have to spend in a month.

With an account like this, you soon learn to stop thinking "oh I like that, I'll buy it", and get into the habit of "I like that, but do I REALLY need it?!?".

cambermam

Hi just wondered if someone could help.

My friend has debts with the following: MBNA, Natwest, Lloyds TSB (i think) and Barclays.

She needs an account where she can pay cheques in, but is badly 'blacklisted'.

I know the big banks are usually linked to others, Natwest - RBS, etc. I am wondering who is safe to get a basic account with, without the risk of offset.

pmduk

The Co-op would be a good start

cambermam

pmduk wrote: »

The Co-op would be a good start

Thank you very much i thought it would be Co-op but wasn't sure if they were linked to any of the others

barrond716

Thanks for that info
Can anyone help . My single parent daughter moved from the Isle of Man to begin a nusing degree course at Edinburgh
She has a current account with Isle of Man Bank and asked to open an account in Scotland Isle of Man Bank is wholly owned by Natwest and obviously RBS.
Shhe has been refused at both and also Santander student account
We have been trying for three hour to get a credit report online and all three of the companies are unable to give reports on line This is realyy getting my daughter down witth all the other business she has to sort -new school for my grandson, settling in at uni , setting up new home etc
Can anyone help Ps I am fed up too !! ( I lost loads in RBS crash so am not a fan of their customer service !!!)

bigmuvvatrucka

Hi to all .. i am a newbie to the forums but need some help/advice !! i have a good job £30,000 a year but in poor poor credit rating hell .... i bank with nat-west and have been asked umpteen times if i want to upgrade my account from a step account to an account with chequebook etc .. every time i have said yes it comes back as denied !!! all i want is a chequebook for some stuff i do but to no avail... can anyone recommend somewhere i can go (bank or post office) so i can get rid of nat west ?? or even have nat-west as a back up account !

thanks for reading my post

book12

bigmuvvatrucka wrote: »

Hi to all .. i am a newbie to the forums but need some help/advice !! i have a good job £30,000 a year but in poor poor credit rating hell .... i bank with nat-west and have been asked umpteen times if i want to upgrade my account from a step account to an account with chequebook etc .. every time i have said yes it comes back as denied !!! all i want is a chequebook for some stuff i do but to no avail... can anyone recommend somewhere i can go (bank or post office) so i can get rid of nat west ?? or even have nat-west as a back up account !

thanks for reading my post

Most banks won't accept you with an account chequebook, due to your bad credit.

Dr_Cuckoo3

bigmuvvatrucka wrote: »

all i want is a chequebook for some stuff i do but to no avail... can anyone recommend somewhere i can go (bank or post office) so i can get rid of nat west ?? or even have nat-west as a back up account !

thanks for reading my post

If all you want is a chequebook then you could apply for a Bank of Baroda "savings account" http://www.bankofbarodauk.com/retail-banking/deposit-products/savings-accounts/


Which comes with a cheque book and debit card (cards are on hold while they change from Electron )

£100 minimum balance - No Account Maintenance/ Transaction charges (they may charge £1 for standing orders)

Pay in at Nat West branches or BACS

Drawbacks - internet banking is "view only"

The bank does not perform a credit reference check to open an account , they use GB Group to perform an ID search using Call Credit http://www.gb.co.uk/gbgroup/what-we-do/verify-your-customer

I have an account with this bank :cool:

It is certainly possible to obtain a bank account with a cheque book without a credit reference search _party_

christabell

The Co-operative Bank are supposed to be helpful for basic bank accounts...try them...

Barclays are also supposed to offer basic bank accounts too