2nd account

Johnpj

Ineedaname wrote: »

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".

They (Barclays) are trying to use publicity to enhance their softer side. There is an awful lot going on behind the scenes with government. All banks are keen to Be seen to be helping people to avoid further legislation and taxes being imposed.

Also debtinfo has pointed out in another thread that other banks do allow accounts for bankrupts, but it's not a firm policy with them. I had a Lloyds account before I was discharged, but had to push a bit to keep it.

Their comment is designed to be vague as they can claim, if challenged there are more. They would say savings accounts Etc with other institutions are available to undischarged bankrupts. We know that they are not quite the same, but the fog of publicity!!

Ineedaname

Quote of and reply to deleted post removed by MSE Team

Other banks do not generally 'allow' accounts for BRs. What usually happens is the account slips through the net of being closed under policy of NOT allowing an undischarged BR to keep the account. All the experienced members of the forum state that only Barclays and Co-Op provide BR friendly accounts. So my comment still stands that the only alternative to Barclays is the Co-Op for truly being 'available' to BRs.

Yes, some members have found an account has remained open during their BR year, in one instance even a full cheque account remained open. But this is not the norm and advice on here is to open either a Barclays or Co-Op account because no other accounts/banks are truly BR friendly.

alastairq

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.

Precisely the reason for attracting our market?

The average individual prefers to feel comfortable with a situation, rather than continuously alert.

[hence, we prefer 'job-security' to 'short-term employment']..

There is something misleading in the terminology we on here tend to use, however.

We, as a group, tend to label banks such as Co-op as 'BR-friendly'......whereas I feel we should really label them as 'BR-tolerant?'

But..by establishing a friendly [tolerant?] relationship with BR's, Co-op then takes advantage of inbuilt customer inertia to allow us to access their other [basic] products.


The need for a 'full' bank account really is a social and financial myth.


Aside from relatively easy access to a limited line of credit [overdraught]...and an out-dated...and soon to be abolished...method of paper payment, there is nothing else a 'full' account can offer over a 'basic' account....


Other than, that is, giving the individual [ex-BR] a sense of financial inclusion.... a sense of finally coming 'in from the cold'.....a sense which is illusory at best.

Ineedaname

alastairq wrote: »

and an out-dated...and soon to be abolished...method of paper payment

They're gonna be around for a while yet, plans to scrap cheques completely have been shelved for now Alistair, as per this MSE News report.

dojoman

notsoninja wrote: »

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.

Can you please keep us updated with your account internet access? I only ask as we have had quite a few peeps go BR, and then be told that they had internet and phone access whilst being BR, only for it to be taken away a couple of months into their BR. We have also had peeps who have been lucky and kept it as well:) Any updates would be appreciated:)

Ineedaname

Sorry to disappoint. Just spoken to Barclays' Legal Notices Department and have been told that the policy stands as is; that undischarged BRs are not allowed internet or telephone access. The reason given is that which has been discussed on the forum recently, to prevent undischarged BRs clicking on links to other services on their website whilst logged in.

However, the lady did also say that she has referred this issue to her boss recently and will also refer my comments about the mindset of a BR (unlikely to click on links as we know we won't pass credit checks and don't want credit anyway, plus the need to keep a close eye on finances).

She also confirmed the situation is under consideration, although whether that would ever result in a change in policy she wouldn't comment on.

So notsoninja - really sorry but please be prepared for the possibility of losing your telephone and internet banking facilities as has happened to others.

Johnpj

Exactly the reason, I gave the advice much earlier, open a variety of accounts with different financial institutions, in case of policy changes etc, good and bad!!

All good to help your credit report as well.

dojoman

Thanks for the clarification INAN:D

Ineedaname

Dojo - I did think after that its' weird they won't allow a BR to click on a link but are happy for their sales team to ring a BR up and offer products... Had a sales call the other day.:rotfl: Wish I'd remembered that during the call as the disparity would have been something else for her to 'pass on to the boss'.

Johnpj

Ineedaname wrote: »

Dojo - I did think after that its' weird they won't allow a BR to click on a link but are happy for their sales team to ring a BR up and offer products... Had a sales call the other day.:rotfl: Wish I'd remembered that during the call as the disparity would have been something else for her to 'pass on to the boss'.

They also might not want you to know, that in the past, as I have said you could pay on debit card and transfer money via internet/phone at the same time; hence easily go overdrawn. Just saying! Sometimes things are very simple.