Fully funtioning Bank Account for those with bad credit

Dr_Cuckoo3

KingElvis wrote: »

Not only that, but take a look at this tempting offer, lifted straight from their website this afternoon..............

Brings power to cherish your dreams of owning a vehicle, taking dream holiday

Can you elaborate on the point you are making ? :think:

bengal-stripe

Dr_Cuckoo3 wrote: »

.......he simply followed my advice posted a while ago that a cheque book / debit card account is readily available without a credit reference search for those willing to think outside the box

More likely, for those with money to burn.....This bank is obviously the equivalent of Payday-loans, charging those who have ruined their credit ratings through the nose.

My bank transactions are quite moderate, but were I to use this bank, it would cost me somewhere between 70 to 80 quid a month (or almost 1000 quid a year). A lot of money in my books.

Anyone should have a better use for 1000 or more pounds a year (even if it's only repaying debts).

May I ask, Dr_Cokoo3, how much are your average monthly account charges with that particular bank?

Toe-Jam

The only visa debit cards that are "electrons in disguise" are the Co-Op cashminder card , and the old A&L debit card without the cheque guarantee.

All other online visa debits, are visa debits and work like visa debits.

With the exception of RBS & Natwest who have their online debits barred from pay at pump, but this is a bank decision and not anything to do with the card being online.

The Santander "online" visa debit says electronic use only on it, and it works everywhere.

If you look on your receipt you can tell if its an electron in disguise, it will say AID 321010. Visa debit is 31010

bengal-stripe

casper_g wrote: »

The first item on that page says "Savings Bank Account -- No account maintenance/transaction

But a current account charges 50p for every single transaction, plus £1 for a BACS transfer. Free with every other bank.

Whenever you pay with your debit card in Tesco, it will cost you an additional 50p. Whenever you pay your gas bill with a transfer, it costs an additional quid.

alanq

But the OP has opened a SAVINGS ACCOUNT with a cheque book and debit card not a CURRENT ACCOUNT.

bengal-stripe

alanq wrote: »

But the OP has opened a SAVINGS ACCOUNT with a cheque book and debit card not a CURRENT ACCOUNT.

Sorry, missed that! - Mea culpa!

Dr_Cuckoo3

bengal-stripe wrote: »

May I ask, Dr_Cokoo3, how much are your average monthly account charges with that particular bank?

I have the savings account which comes with a visa debit card and cheque book and pays interest on credit balances

I have not incurred any fees (I use the account for cheque and debit card transactions - I pay in using BACS)

I opened the account because I was interested in their credit card https://www.bankofbarodauk.com/assets/pdf/creditcard.pdf

ian_h

Hi Dr Cuckoo

I'm applying for the account for the same usage as you really, Debit card and Cheque Transactions and will usually pay in by BACS.

As I read the T&C's you can pay in at BOB or NatWest Branches too - doesnt seem to attract a fee.

Whilst reading the charges list though I wondered if we are missing something?

There is no mention of a Foreign Use Load so I would assume we get Visa Bank Rate and no Bank Load/ Foreign ATM use Charge?

Dr_Cuckoo3

http://www.bankofbarodauk.com/assets/pdf/debitcard.pdf

point 7 here covers overseas card use



and
http://www.bankofbarodauk.com/Terms_n_Conditions.pdf



13.4.4 If you use your card for a cash withdrawal or to make a
payment in a currency other than Sterling, we will
convert the amount withdrawn, or paid, into Sterling on
the day it is processed by the international payment
organisation (for example, Visa) whose name or marks
appear on the card;
13.4.5 The exchange rate we use is the rate set by the
international payment organisation. A charge of 1% is
made by international payment organisation;
additional charge of 2% of the transaction value is
added by us. You can find out the current exchange
rate used by calling us on 0207 448 1555;

ian_h

Ah cheers I had a different pdf - that answers that one though!

Thanks :beer: