Basic Bank Account Thread

book12

baz29 wrote: »

Hi just a quick question regarding the co op cash minder account, if i apply for the account now will i get the new visa debit card or will they issue me with the electron card. Does anybody know? thanks

Wait until June to apply if you want the VISA debit card.

ZARTAN

Hi. I went into an HSBC, planning to open a basic account because I know my own credit limitations. When I got there, the worker there talked me into to open a full current acount. I told him I did not have good credit. He then lied to me and told me that current accounts had nothing to do with credit, and said that as long as I had i.d. and a job, that is all that was required to open a full current account. He continued to try to sell me on why a full current account was better and all the limitations that a basic account had. I should have known better, but out of desperation, I agreed and thus applied for the current account. At the time, I had not yet read this forum topic and did not know about Yorkshire, or Cooperative. I did not know any banks offered a Maestro card with a basic account, therefore I was tempted by the current account offer with Maestro card that the HSBC worker offered me. Of course, I failed the credit check, and blew my chances at the basic account as well. I really needed this HSBC account because I wanted to deposit British pounds while withdrawing foreign currency in other countries from HSBC atm's. I had planned on spending several thousand pounds overseas, and this would have saved me a lot of money on foreign exchange as well as ATM withdrawal fees. I wanted to share this story with others so that they don't make the same mistake I did, and realise that many staff of banks may not always be disclosing accurate information.

456789

ZARTAN wrote: »

Hi. I went into an HSBC, planning to open a basic account because I know my own credit limitations. When I got there, the worker there talked me into to open a full current acount. I told him I did not have good credit. He then lied to me and told me that current accounts had nothing to do with credit, and said that as long as I had i.d. and a job, that is all that was required to open a full current account. He continued to try to sell me on why a full current account was better and all the limitations that a basic account had. I should have known better, but out of desperation, I agreed and thus applied for the current account. At the time, I had not yet read this forum topic and did not know about Yorkshire, or Cooperative. I did not know any banks offered a Maestro card with a basic account, therefore I was tempted by the current account offer with Maestro card that the HSBC worker offered me. Of course, I failed the credit check, and blew my chances at the basic account as well. I really needed this HSBC account because I wanted to deposit British pounds while withdrawing foreign currency in other countries from HSBC atm's. I had planned on spending several thousand pounds overseas, and this would have saved me a lot of money on foreign exchange as well as ATM withdrawal fees. I wanted to share this story with others so that they don't make the same mistake I did, and realise that many staff of banks may not always be disclosing accurate information.

Bad HSBC worker!!

When I went to open a current account they said if I failed the check they would give me a basic account - so why didn't they offer you a basic account? Go back and complain to the manager.

book12 wrote: »

Wait until June to apply if you want the VISA debit card.

Or phone up then and say your electron is lost/damaged

PARIS_5000

I opened a current account with HSBC when I had very bad credit with defaults but that was nearly four years ago so I guess things have changed now. HSBC are good to you if you managed your account well.

savagej

I thought it might be worth adding there is no guarantee that the new Co-op Visa Debit card on their Cashminder accounts will be embossed.

There are plenty of proper Visa Debit cards across the globe that are not and we have one in this country the prepaid Paypal card, it is Visa Debit not Visa Electron but is an unembossed card.

You can find out more about the card type simply by googling visa unembossed.

kibs

I have a basic cash card account with Barclays, with this I do my direct debits, and more recently internet banking. Just needed to upgrade my card to do this from the simple cash card to a visa debit.
Although had a few problems with my local branch as they could not comprehend this was possible. lol. So almost like a full current account, well aside from no cheque book and overdraft.

Nomoredebtnow

For me Co-op cashminder is the best at the moment

043775

Hi I applied for a co op cashminder account on the phone on wednesday.

The application was refered and was told to call back in 3 days time.

I called today and the advisor said there was a note on the account to take some ID into the branch.

Do you think that means they will approve me once theyve seen my ID?

scouselad1974

Hi

I would say yes once you have confirmed your identity.

Nomoredebtnow

Yes same as me