Financial Institution Is Destroying Me

simon3000

I hope someone can help me here, I can't open another bank account , yet i have a job and my current bank has closed my account because I am £900 overdrawn and the account was badly managed when i was a student 3 months ago.I now have money more than I owe and my bank manager has refused to reopen the account. I get paid next week and i don't want my money to go to my current bank , i tried to open an account with another bank today and they said no because i have previous bad debts from when i was a student but they have been paid. I'm really desperate where do i go for help i was in the bank yesterday for 5 hours and they said they stand by their manager and they no longer trust me to give me an account.

Where do i put my salary?

How do i pay my bills?



i HAVEN'T REFUSED TO PAY ANYONE I AM PAYING WHAT I CAN I THOUGHT THE WHOLE PURPOSE OF A GRADUATE ACCOUNT WAS TO ALLOW a person to stabilise, I have withdrawn all my savings in cash today from them because i am worried they will seize them.

I wasn't informed that my overdraft had been removed and i now have bank charges of £30 a day or something .

Esoog

A) you can claim those charges back so don't worry too much about them

b) have you thought about asking your parents (or whatever) to let you pay the money into their account? Worth a shot?

michael1983l

if you are being refused bank accounts by all companies open a standard card cash account. Many banks will open an account with no credit check, halifax definatly do. The drawbacks being no debit cards, no cheque books and no overdrafts. Just go into a branch and ask for one of these accounts they'll be happy to set one up.

Biffa

which banks have you tried for a new account? Try the Co-op for a cashminder account. They will probably say you've failed their credit checks and it will be referred to a decision maker, but your should get one with them after a day or two. We went bankrupt and managed to get one. You can do online banking, have DD's set up, wages paid in and get a cashpoint card, but no overdraft and no cheque book. Good luck.

simon3000

Esoog thanks for the note on the bank charges but who can legally help me fight the bank because this is injustice.

How do i reclaim bank charges and also get my bank manager to reopen my account and give me back my graduate account with my over draft? My account goes up and down because i have to pay rent and bills i need an overdraft for the next few months till i settle.

I have asked a family member if i can put my savings into their savings account and i will ask my employer if they can pay my salary into someonelse's account.Life shouldn't be like this i am not a criminal.

lynzpower

Esoog thanks for the note on the bank charges but who can legally help me fight the bank because this is injustice.

How do i reclaim bank charges and also get my bank manager to reopen my account and give me back my graduate account with my over draft? My account goes up and down because i have to pay rent and bills i need an overdraft for the next few months till i settle.

you dont need any help mate, its very straightforward. Have a good read of the new bank charges forum on here or look at the experts on consumeractiongroup.co.uk

simon3000

Biffa wrote:

which banks have you tried for a new account? Try the Co-op for a cashminder account. They will probably say you've failed their credit checks and it will be referred to a decision maker, but your should get one with them after a day or two. We went bankrupt and managed to get one. You can do online banking, have DD's set up, wages paid in and get a cashpoint card, but no overdraft and no cheque book. Good luck.

I wasn't sure if I could mention banks names on hear for fear of persecution, but anyway I had a Barclays Graduate account and i graduated 3 months ago , my salary has been going into the account since i started working but the account had been inactive 7 months prior when i was studying.All of a sudden they have turned the tables on me and cancelled my overdraft yesterday , confiscated my card and informed me they will be closing the account on Jan 4 due to bad management, I tried to explain for 4 hours that students are poor and have bad account management well at least the ones i know and they refused to budge.

I tried opening an hsbc account and they said no you have adverse credit searches against us and 5 years ago i defaulted on an hsbc credit card which i paid off.

I tried loyds tsb and they said the same thing about adverse credit search.

simon3000

lynzpower wrote:

you dont need any help mate, its very straightforward. Have a good read of the new bank charges forum on here or look at the experts on consumeractiongroup.co.uk

Thanks but shouldn't reclaiming bank charges come last as i don't even have an account at the moment? Do you think my bank manager will agree to reopen my graduate account? Should i even bother begging him to?

Is there anything CAB can do for me? The bank ultimately want me to take out a loan to repay them my overdraft. Which makes no sense to me because i earn more than £900 why not just take £100 from me for 9 months?

Does anyone know or suggest how i should handle barclays on monday?

hypno06

First of all, take a deep breath, make a cup of tea and panic not!

Regardless of how Barclays are treating you, you will be ok. You are entitled to a basic bank account regardless of your credit record. Go to Halifax or Alliance & Leicester and explain the situation and ask for a basic bank account. OK, so it won't have overdraft, debit card etc but at least you can deposit your money in it and can get your salary etc paid into it.

Regardless of whether you have a current Barclays account open or closed, you can reclaim bank charges for the last 6 years. Look at the reclaim board on this site. Plenty of us have claimed successfully so we are all happy to give advice, although the info on the site is more than helpful - giving letter templates, rights etc etc.

Once you have a basic bank account in place and have put in place the initial claim for bank charges, then you can go about sorting out your credit record. Check with one of the credit agencies that no one is using your information because this could be a reason why you are unable to get credit. If there is any incorrect info on the credit check, you will be able to get it reversed and sorted, but until you check you won't know.

This is a start, but remember, things are not as bad as they seem right now. Main thing is to keep calm - things seem so much worse when you panic.

So go and put that kettle on and make a start!

sandralovescats

Barclays closed an account of mine that was £230 in credit because I hadn't put money in or taken it out for four months!
They sent me a letter, enclosing a cheque for the amount, and closed the account!
In your case I would be more concerned that Barclays have put some comment or other on your CRF. It might be a good idea to get a copy of yours and see what Barclays have done with that. If they have put something on there then it is worth pursuing Barclays to remove it.

Good Luck!

sandralovescats

Hypno you got your charges paid back quickly! Do they pay you a cheque, or into the account you have already?