Basic Bank Account Thread

dmb_2

I've just logged on to Citibank. Can't find Citibank sterling Account only one called Citibank Access Account. Are these one and the same?

esmerellda

Have you opened a basic bank account in the last three months ? The OFT are currently looking heavily into transparency of cost information of personal and basic current accounts.

They have asked us to pass on details of consumers experiences of opening basic accounts to assist with a report and work with the banks in improving these accounts.

1: Were the terms and conditions of the account given to you in advance ?

2: Were the costs/charges applicable to the account explained to you ?

3: Were the available facilities on the account explained to you ?

4: Did you have any problems opening the account ?

5: Was there any sales pressure to take out other products / lending / upgrade your account type ?

6: After opening your account what further information did you receive ?

7: Have you had any difficulties with your account since it was opened ?

8. Why did you chose to open a basic as opposed to a full current account ?


You can send a PM to me on here, or post on this thread.


We are looking at this from a transparency of information angle as per the OFT PCA Market Study and also from the point of view of Financial Inclusion - ie the government making holding a bank account a necessity rather than a choice.

Any information and experiences, good or bad, would be gratefully received.

We don't need any personally identifiable information and any responses will be passed to the OFT anonymously.

Please remember to tell us WHICH BANK you are talking about.

Many thanks
xx

peregrin

I just opened a Halifax Easycash account and was very impressed with how easy(!) it was...

Filled in the application form online and heard nothing for a few days until I got an e-mail with an online username, receieved the password in the post the following day. Fast forward 3 days and the card and welcome letter both arrived with the account number and sort code - added the account to the online banking no problem. Just waiting for the PIN number now.

I was expecting to have to send back documents or have to go the branch and take in documents but nothing! I guess Halifax verify your details electronically and only ask for documents if they can't.

So assuming the PIN arrives in the next 2-3 days as it should, the time from applying online to having everything I need - 2 weeks - not bad.

Some people have said you need to make a deposit to "activate" the account, I will do that as soon as the PIN number arrives.

Feels good to have a decent account again

esmerellda

Are you fully aware what the charges/costs etc associated with the account are? (from a transparency point of view not suggesting they are high etc) Was the information there, easily accessible before you applied ?

peregrin

It is hidden away to be honest - they could be far clearer about individual charges. I'm sure it's on the website but somewhere you would have to dig to find it.

It was also buried in a terms and conditions document which came in the account, not accessible or particularly transparent!

It would be nice if there was a leaflet or something that's easy to read that comes with the account. Ditto a nice clear section on the website.

The PIN number actually arrived this morning so that's about 12 days from application to account ready to use.

huggybare

have just heard of think banking sounds good but has anyone else heard or know anything about them

homeworkgirl

Still very impressed with the Co-op's customer service. Applied for cashminder a/c over the phone last week, received welcome pack and Visa card within 6 days, account all set up and just waiting for pin details for card. Couldn't have been easier.:T

spindo

peregrin wrote: »

I just opened a Halifax Easycash account and was very impressed with how easy(!) it was...

Filled in the application form online and heard nothing for a few days until I got an e-mail with an online username, receieved the password in the post the following day. Fast forward 3 days and the card and welcome letter both arrived with the account number and sort code - added the account to the online banking no problem. Just waiting for the PIN number now.

I was expecting to have to send back documents or have to go the branch and take in documents but nothing! I guess Halifax verify your details electronically and only ask for documents if they can't.

So assuming the PIN arrives in the next 2-3 days as it should, the time from applying online to having everything I need - 2 weeks - not bad.

Some people have said you need to make a deposit to "activate" the account, I will do that as soon as the PIN number arrives.

Feels good to have a decent account again

That happened to my brother when he opened an Easycash accoun and it was the same for me when I applied for NatWest Step account - no docs needed - we both must have been found and verified as real genuine people 'electronically'.

peregrin

huggybare wrote: »

have just heard of think banking sounds good but has anyone else heard or know anything about them

I think it's expensive and un-necessary unless you really can't get any other sort of bank account...

peregrin

spindo wrote: »

That happened to my brother when he opened an Easycash accoun and it was the same for me when I applied for NatWest Step account - no docs needed - we both must have been found and verified as real genuine people 'electronically'.

Yes it's good, I don't have a passport or driving licence so was expecting a battle to get find all the documents I needed so it's good I didn't have to. Finally the database state making life easier rather than harder!

Actually the PIN number arrived about 10 minutes after I posted that on Saturday so I'm all up and running!