Basic Bank Account Thread

storminbalder

book12 wrote: »

Yes, but it takes another for few weeks (probably end of April) or a month to get that passed to the credit reference agencies to update their records.

In my experience, that did not happen.

book12

storminbalder wrote: »

In my experience, that did not happen.

How long did it take then?

storminbalder

book12 wrote: »

How long did it take then?

I opened an account with Yorkshire Bank on the same day as the council told me i'd be added to the electoral role.

They ID checked me, and as part of this checked to make sure I was on the electoral role.

I know this for certain as she was training someone and explaining every detail to the trainee.

dorkykatie

I really need help.

My partner defaulted on 2 accounts around 4 years ago (stupid banks giving credit cards to 18 year olds), and paid them off in full last April, so almost a year ago.
I understand that they will stay on his credit report for 6 years, but one of them was an HSBC current account, hence they closed it when he defaulted.

Since then, he has not had a bank account, and has had his wages paid into a Halifax savings account, which he just draws cash out as and when we need it.

He has tried twice in the past 2 years for a current account with Halifax, one time being last week, and has been declined saying that his score isn't high enough. I can appreciate that, but how is he meant to improve his score if they won't give him a current account in the first place?

He earns £16k a year, so there is always money in his savings account, yet they still denied him.

His credit score when we last checked on the 10th Feb was 603, putting him in the "poor" category.

Please can anyone help or give me any advice??

book12

dorkykatie wrote: »

I really need help.

My partner defaulted on 2 accounts around 4 years ago (stupid banks giving credit cards to 18 year olds), and paid them off in full last April, so almost a year ago.
I understand that they will stay on his credit report for 6 years, but one of them was an HSBC current account, hence they closed it when he defaulted.

Since then, he has not had a bank account, and has had his wages paid into a Halifax savings account, which he just draws cash out as and when we need it.

He has tried twice in the past 2 years for a current account with Halifax, one time being last week, and has been declined saying that his score isn't high enough. I can appreciate that, but how is he meant to improve his score if they won't give him a current account in the first place?

He earns £16k a year, so there is always money in his savings account, yet they still denied him.

His credit score when we last checked on the 10th Feb was 603, putting him in the "poor" category.

Please can anyone help or give me any advice??

Ask him to open a basic bank account. Nowadays, most banks offer debit cards with them. Refer to this website: http://www.moneymadeclear.fsa.gov.uk/pdfs/bank_accounts.pdf

Those are designed for people who have no/bad credit scores/history.

Actually, when the bank declines for a current account, they shoud offer him a basic bank account straight away on the same day.

It is hard to get a current account with a poor credit score.

book12

storminbalder wrote: »

I opened an account with Yorkshire Bank on the same day as the council told me i'd be added to the electoral role.

They ID checked me, and as part of this checked to make sure I was on the electoral role.

I know this for certain as she was training someone and explaining every detail to the trainee.

By the looks of it, the credit reference agenices are updated at the same time as councils for the updated voters roll then.

dorkykatie

book12 wrote: »

Ask him to open a basic bank account. Nowadays, most banks offer debit cards with them. Refer to this website: http://www.moneymadeclear.fsa.gov.uk/pdfs/bank_accounts.pdf

Those are designed for people who have no/bad credit scores/history.

Actually, when the bank declines for a current account, they shoud offer him a basic bank account straight away on the same day.

It is hard to get a current account with a poor credit score.

Cool thanks for your advice, he has applied for a Natwest Step account online and has been accepted in principle... fingers crossed that the papers come through and it all goes well!!!

I'll let you know the outcome hopefully in a few days.

storminbalder

dorkykatie wrote: »

Cool thanks for your advice, he has applied for a Natwest Step account online and has been accepted in principle... fingers crossed that the papers come through and it all goes well!!!

I'll let you know the outcome hopefully in a few days.

Bankrupts can have bank accounts, so I see no problem for someone with just a couple od defaults having any difficulty!

As a last resort you can try Barclays or Co-op basic accounts which are available to all (except fraud).

I say last resort - but by all accounts the Co-op Cashminder is a product very highly thought of by all accounts.

dorkykatie

storminbalder wrote: »

Bankrupts can have bank accounts, so I see no problem for someone with just a couple od defaults having any difficulty!

Tell me about it!!!

davidhenson1

storminbalder wrote: »

Bankrupts can have bank accounts, so I see no problem for someone with just a couple od defaults having any difficulty!

As a last resort you can try Barclays or Co-op basic accounts which are available to all (except fraud).

I say last resort - but by all accounts the Co-op Cashminder is a product very highly thought of by all accounts.

I have about 6-7 defaults and 2 ccjs and thought anyone could have a basic account. Tried Barclays and LLoyds and was declined! Just to let people know.

And i don't have any fraud on my credit files.