Fully funtioning Bank Account for those with bad credit

airbusa330

Hello.

I am new to MSE so hi all.

Just to introduce myself - I have struggled for years with debts after the loss of a partner. Have now ended up with four CCJs and about £25000 of debt. After years of using basic bank accounts I was delighted when I came accross the Bank of Baroda UK.

It is a small bank with just 10 branches, and the offshoot of an Indian Banking Giant, however their UK savings account comes with a Visa Classic Debit Card and Chequebook, so after reading it on another post somewhere here I went to their website yesterday, downloaded the forms, sent them back with a certified copy of my passport.

I was apprehensive as although I had been told they only do a third party ID check, I was still concerned my bad credit would show up.

Alas....2pm today, the phone rang. A representative telling me my new account and sort code. I am absolutely delighted. I am so happy I just had to tell everyone here who has the same problems with credit that I have had.

Upsides - Visa Classic Debit Card, Chequebook and payments via any Natwest branch or Bank of Baroda Branch in Manchester, Birmingham or London.

Downsides - Internet Banking for the Savings Account is view only, and minimum opening deposit is £100.

They also do a full current account but that is more or less the same, but they charge for transactions on that account.

Hope this can help some people looking for more than a basic bank account.

lee20010

I've actually just been reading about them. They actually seem pretty good....which is strange for me to say

airbusa330

To be honest I am so impressed already. The only thing I think that I will find difficult is the view only internet banking, however I sent my documents in yesterday, and when they called me today they discussed how the account works and really seem genuinely interested in your business.

I cannot wait for my welcome pack.

ian_h

Congrats airbusa330 - that sounds like quite a result, I have walked past their Branch in Manchester and saw they offered a DC on their savings account which is a fantastic feature.

One question though - they state in clause 24.6.2 of their T&C that any Joint application will create a financial association at the CRA's. Do you (or anyone else know) if this also applies to the Savings Account product?

lee20010

ian_h wrote: »

Congrats airbusa330 - that sounds like quite a result, I have walked past their Branch in Manchester and saw they offered a DC on their savings account which is a fantastic feature.

One question though - they state in clause 24.6.2 of their T&C that any Joint application will create a financial association at the CRA's. Do you (or anyone else know) if this also applies to the Savings Account product?

Hard to say, I thought all savings accounts didn't require a credit check? I would apply for a sole bank account but it's too much hassle filling in forms etc....but thats just me..

Mikhail

airbusa330 wrote: »

Hello.

I am new to MSE so hi all.

Just to introduce myself - I have struggled for years with debts after the loss of a partner. Have now ended up with four CCJs and about £25000 of debt. After years of using basic bank accounts I was delighted when I came accross the Bank of Baroda UK.

It is a small bank with just 10 branches, and the offshoot of an Indian Banking Giant, however their UK savings account comes with a Visa Classic Debit Card and Chequebook, so after reading it on another post somewhere here I went to their website yesterday, downloaded the forms, sent them back with a certified copy of my passport.

I was apprehensive as although I had been told they only do a third party ID check, I was still concerned my bad credit would show up.

Alas....2pm today, the phone rang. A representative telling me my new account and sort code. I am absolutely delighted. I am so happy I just had to tell everyone here who has the same problems with credit that I have had.

Upsides - Visa Classic Debit Card, Chequebook and payments via any Natwest branch or Bank of Baroda Branch in Manchester, Birmingham or London.

Downsides - Internet Banking for the Savings Account is view only, and minimum opening deposit is £100.

They also do a full current account but that is more or less the same, but they charge for transactions on that account.

Hope this can help some people looking for more than a basic bank account.

They charge literally for everything, even if you closing your account: http://www.bankofbarodauk.com/service-charges/

lee20010

Mikhail wrote: »

They charge literally for everything, even if you closing your account: http://www.bankofbarodauk.com/service-charges/

Wow.....that's off putting lol..

Do they even do credit checks???

hate-banks

yeah they're way too expensive, this is ridiculous!

Dr_Cuckoo3

airbusa330 wrote: »

It is a small bank with just 10 branches, and the offshoot of an Indian Banking Giant, however their UK savings account comes with a Visa Classic Debit Card and Chequebook, so after reading it on another post somewhere here I went to their website yesterday, downloaded the forms, sent them back with a certified copy of my passport.

This one ...........

Dr_Cuckoo3 wrote: »

If all you want is a chequebook then you could apply for a Bank of Baroda "savings account" http://www.bankofbarodauk.com/retail-banking/deposit-products/savings-accounts/


Which comes with a cheque book and debit card (cards are on hold while they change from Electron )

£100 minimum balance - No Account Maintenance/ Transaction charges (they may charge £1 for standing orders)

Pay in at Nat West branches or BACS

Drawbacks - internet banking is "view only"

The bank does not perform a credit reference check to open an account , they use GB Group to perform an ID search using Call Credit http://www.gb.co.uk/gbgroup/what-we-do/verify-your-customer

I have an account with this bank :cool:

It is certainly possible to obtain a bank account with a cheque book without a credit reference search _party_

Dr_Cuckoo3 wrote: »

BOBCARDS have arrived :cool:

airbusa330

There are no monthly charges on the savings account.

The product I have is the savings account - this having been confirmed when I spoke to them when the account was opened. As for charges for transactions, given the rubbish I have had to put up with for years with all these basic accounts I am quite happy. I have fairly high value transactions so all is well. It suits me OK, however I accept it may not be ideal for most.

lee20010

how much do you earn working for them?