Basic Bank Account / Egg Visa Card

anolan

Hi all,

I am going to open a basic bank account and will choose between either Barcalys or Co-op.

I have a debt on an Egg Visa Card.

Now that Barclays have taken over Egg card, does this mean I should steer clear of Barclays ?

Many thanks,

Andy.

scott_lithgows

Only if you have no intention of paying back your credit card debt !

anolan

I am considering a DMP so Egg will get a reduced payment.

I am therefore thinking as Egg are now owned by Barclays that I should not open a Barclays basic bank account because of the finacial link and the possibility of them seizing funds from my account ?

AbbeyDhabi

anolan wrote: »

I am considering a DMP so Egg will get a reduced payment.

I am therefore thinking as Egg are now owned by Barclays that I should not open a Barclays basic bank account because of the finacial link and the possibility of them seizing funds from my account ?

Let's just say, not the best idea then. Unless Egg have a separate banking licence, which I don't believe they do.

anolan

Payplan are saying Barclays do not have a "right to offset" against an Egg card but I'm not so sure. Payplan are saying to go ahead and open a Barclays basic bank account and my money will be safe but I'm not so sure. Barclays are less than a mile away and are convenient to go and open the account. The alternative is Co-Op but the branch is 5 miles away.

pqrdef

anolan wrote: »

Payplan are saying Barclays do not have a "right to offset" against an Egg card

An Egg card won't be an Egg card much longer, because the announced plan is to cancel them and issue customers with Barclaycards.

anolan

But if my egg card balance is switched to Barclaycard can Barclays then take money out of my Barclays basic bank account to offset against the barclaycard debt without my knowledge ?

I'm thinking steer clear of Barclays and go for Co-Op then ?

Payplan_company_representative

I have just called Barclays to double check the details, know one seems to know whether the Right To Offset can be applied. It would be best to keep clear of them to be on the safe side.

Chrisblue1962

I would recommend Co-op Cashminder basic bank account. With regard to branches, Co-op customers can use Post Offices to make deposits and draw cash for free - one of the reasons I bank with them. Their online banking is ok too as you don't need a card reader for most actions either.