2nd account

alastairq

yup, as Fermi says, I had/have two Cashminder accounts with Co-op....one for fixed bills, DD's, SO's, in fact any essential bill...the other receives my pay...which then gets split between the two accounts....in the latter, I have absolute certainty that what is there is what I have to spend....so essential bills do not get forgotten.

There is absolutely no limit imposed on how many accounts an individual can have...Cashminder or otherwise....

whether BR or not...

Co-op will also open, on request Smartsaver savings accounts for individual BR's, even whilst undischarged.


They publicly state they see no reason why someone who is BR should not have access to a savings account!

Where issues arise is with the application process.

Like many, if not all banks and financial institutions, account applications these days get a first vetting by computer.

Often, a BR flag will result in a refusal.

This is certainly the case with Co-op.


It means nothing, really, however, in order to proceed, if a BR [undischarged as well as discharged...we sound like a bunch of muskets, don't we?]....applies for [as an example] a Smartsaver savings account [which has a cash machine card issued, as well as full online access]....then [telephone application strongly advised]....inform the Customer adviser immediately of the BR situation, so that they can, immediately start the appeal process..

I'm willing to bet the account is open, up and running before the
applicant even gets the confirmation letters. [ignore the one which arrives telling you the application has been refused, it is an automatic issue.....mine came at the same time as the cash card!!!!!!


I believe more banks will have to accept BR.s in the future......if not as a matter of legislation, then as a matter of market forces?

dojoman

notsoninja wrote: »

Barclays no longer restrict internet banking if you are bankrupt. You can also have a Visa Debit with Barclays now, the same as with a Coop account.

Hope that helps

You have always had the choice of a visa debit with this account, can you please confirm that internet banking restrictions have been lifted? as far as I am aware that restriction is still in place.

Ineedaname

It appears notsoninja is referring to their own experience so far as per this post. Wonder how long it will be before the 'system' removes the additional access?

Considering two branches apparently confirmed the restrictions have been lifted, it will be interesting to see if notsoninja does get to keep both internet and phone banking throughout their BR.

dojoman

Thanks INAN, still don`t think that anything has changed, but time will tell.

notsoninja

dojoman wrote: »

You have always had the choice of a visa debit with this account, can you please confirm that internet banking restrictions have been lifted? as far as I am aware that restriction is still in place.

Internet banking restrictions and telephone banking restrictions have definitely been lifted. All setup and working for me. Spoke to customer services about the previous restrictions on these services and was advised that they have been lifted to "bring the account in-line with others available on the market for undischarged bankrupts".

Also have a savings account open with Barclays.

alastairq

Internet banking restrictions and telephone banking restrictions have definitely been lifted. All setup and working for me. Spoke to customer services about the previous restrictions on these services and was advised that they have been lifted to "bring the account in-line with others available on the market for undischarged bankrupts".

Also have a savings account open with Barclays.

well well....I wonder if Barclays finally started lurking on here, and realised Co-op were getting a good deal of business, which is basically sound?

Sometimes it takes complaint, and opposition, to make subtle but important changes in the way [banks] do business.

We are already seeing the fruits of campaign from Cityslicker's efforts regarding insurance and BR..


and persuading Asda to change their pay-at-the-pump systems to accept [Co-op's] visa card....

Change does, and will, occur....eventually.

sometimes it is an instant process, sometimes change takes a while to roll out.

Bankruptcy is no longer the evil pits of financial hell it once was deemed...and institutions are gradually coming to realise that, and accept it.

As I've been known to say before on here....it is about time 'bankruptcy' was given the same status enjoyed by 'divorce'.................

Ineedaname

Alistair - what made me giggle initially on reading that was "others available on the market for undischarged bankrupts" because there's only Co-Op.:rotfl:

Presumably corporate speak for "we realised we were losing potential business to Co-Op".

alastairq

Co-op seem to have traditionally aimed at lower profile customer sectors.

I believe, 'sprat to catch a mackerel' is their philosophy?

Johnpj

I have answered this elsewhere. Barclays have recently changed their computer systems to bring them into line with the modern age. They are more online because they are More realtime now rather than batch. You can now also get more statements online now, in the past BARCLAYS only allowed access to weeks/months depending on how many transactions you had.

In the past it was possible to use the Internet/telephone and your debit card at the same time and end up spending more money than you had in your account, thus going overdrawn.

I think barclays are just responding to the call for social inclusion, it's a bit of a publicity thing more than a desire to lure bankrupts.

Johnpj

alastairq wrote: »

Co-op seem to have traditionally aimed at lower profile customer sectors.

I believe, 'sprat to catch a mackerel' is their philosophy?

Not really. They are socially inclusive and ethically driven.

The coop bank has a significant slice of the AB demographic groups, but who want their money invested in ethically sound businesses.

Their mainstream products are not so easy to pass a credit score.

I might be wrong, but I have not heard anyone getting an upgrade from cash minder to a full account whilst the bankruptcy was on their credit files. I tried many times, in branch and with lots of positive paperwork.