Basic Bank Account Thread

HANNAHIOM

Hi,
I was wondering if someone would be able to help me, I live on the Isle of Man, and cannot get a current account anywhere, I'm currently 20 years old in full time employment with a decent salary. I was given credit at the age of 17 and completely went on a rampage and got credit were I could (being young and stupid) which means i now have an adverse credit rating. I have applied everywhere for an account as currently my wages are being paid into a friends account. I am still waiting to hear back from HSBC and was wondering if anyone knows how strict they are with credit for the basic bank account. I cant get a nationwide account or a co-op as they dont operate on the island.
Seriously dont know what to do

MrSilk

HANNAHIOM wrote: »

Hi,
I was wondering if someone would be able to help me, I live on the Isle of Man, and cannot get a current account anywhere, I'm currently 20 years old in full time employment with a decent salary. I was given credit at the age of 17 and completely went on a rampage and got credit were I could (being young and stupid) which means i now have an adverse credit rating. I have applied everywhere for an account as currently my wages are being paid into a friends account. I am still waiting to hear back from HSBC and was wondering if anyone knows how strict they are with credit for the basic bank account. I cant get a nationwide account or a co-op as they dont operate on the island.
Seriously dont know what to do

Hi HANNAHIOM,

Basic bank accounts are not credit checked the same way as full current accounts, so they are in theory, easier to open.

have you checked your credit reports?, have you ever been a victim of identity theft/freud?

Florida15

:eek:

:eek:

Hi just started a DMP and have debt with Barclays and barclaycard.

Was suggested by Stepchange to open a basic account with barclays. This has been done and all direct debits for bills transferred.

Please could anyone tell me if they have a barclays basic account and still have debts with barclays and if they have ever offset from this account. Just a wee bit stressed in case they do this, although my waged went in at the end of the month and are still there today.

Thanks for your help.

chubb1

Hi all!!

Anyone recommend a basic bank account? Have looked at Co-op,
Barclays, HSBC and Natwest so far. Or are they all much of a muchness?

Am in full time employment and am renting.

Cheers

pmduk

Natwest restricts it's cash card to use in RBS Group ATMs only. Other than that they're much of a muchness. They all allow withdrawals at the Post Office counter.

Debutante

Thanks to the forum I applied yesterday evening for a Nationwide Cash Card account. To my surprise I was accepted but in my excitement I did not read in detail what type of card I am going to get.

Could anyone who has one of these accounts tell me what type of card it is please? Am I able to use it for online purchases?

Also, what are the pros and cons of this account. I noticed I would get online banking but any other benefits or downsides?

Many thanks

Edit: is it an ordinary current account? I want to link it to PayPal and they only accept current accounts

I posted this on the main forum but thought it would be better here

I have been told on the other thread that it is some kind of Visa card. Is everyone who has this type of Nationwide account happy with it ?

Clare1971

I've got a Nationwide Cash Card account. The only downside I've found is that you don't get a cheque book. The card is a normal Visa card (not like my Co-op account which is a Visa Electron and is not accepted in some places). Paypal, online purchases etc all fine. Online banking is good. I had to call them once and their customer service was really good. Also, keep your account running well for 7 months and they will consider ungrading you to a normal current account. Thats what they told me, I'm going to try it next week so I'll post how I get on. Also, you can open savings accounts online and link them to your cash card account. Transfers are easy and instant even to other banks/ paypal. I'm happy with it

Debutante

Clare, your reply was fantastic

You answered all my questions in one go!
I posted the same question on the main bank a/c thread and had several replies but only a couple of people were really helpful and answered parts my of my question and a couple of others just accused me of not looking it up myself. (I don't know why they bothered - can't have had anything better to do )

Thanks once again. I really hope you get your account upgraded !

Tef

Just been told by a friend that some of Martin's info on the front page is wrong.. Barclays do not redirect to a Basic Bank account application should you fail the credit scoring. Also Nationwide rejected application despite the fact that the lady concerned is in full employment and has been debt free for two years... Be careful who you apply to as of course it will show up in credit searches.

Clare1971

I spoke to Nationwide yesterday to ask about upgrading my cash card account. Don't bother! Worth a try I suppose but they wont upgrade (as they suggested in a previous convo) they just offer to open a new account which is no good as there's a credit check!