Co-operative closing basic bank account

daphne_descends

due to three unpaid direct debits in twelve months.

I was going to ask 'can they do this', but they have so I suppose so. I'm just rather surprised, does this seem right?

moozie_2

From their website

1. ACCOUNT BASICS
1.1 To open a Cashminder account you must be a UK resident and over 16
1.2 You must ensure that you have available money in your account at the beginning of each day to cover all that day’s transactions.
1.3 You agree that we may deduct from the balance of your account or debit the amount of any transaction or other amounts due from you under this agreement. We will do this (and you will be responsible to pay the amounts except as mentioned in condition 6.6) even if:
• the card, card number or PIN is used in a way that is not authorised in this agreement
• the debit is delayed
• the debit will or may result in the account going overdrawn
• the card, card number or PIN is stopped, suspended or restricted
• the agreement is varied or ended.
1.4 We will provide regular statements showing the balance of your account.
1.5 You must inform us as soon as possible of any incorrect item on your statement.
1.6 We may decide not to accept a deposit or application from you.
1.7 You must not overdraw your account.

So it looks like you broke the T&Cs and they do have the right to withdraw the service if that happens. Sorry

tirednurse_2

I had a letter from my bank (co op cashminder) recently, telling me they were closing my account for the same reason. I felt sick with worry about how I would be able to pay my bills.

I rang them and we were able to negotiate keeping my account open, and still being able to use my electron card. No direct debits though.

I now pay things like water rates, tv licence and electricity bills with paypoint cards.

Hope this helps a little.

moxie_2

OMG I'm worried now as I've had some unpaid direct debits this month, at least 3. I'm planning to claim my charges back too! Better go and find another account I think.

daphne_descends

It wasn't my bank account so I don't know the exact details but I know that no warning of this was received. I have a basic account with Natwest and due to NTL being, well, NTL, I have had a fair few returned d/d's too..

moxie_2

I've just signed up for the Citibank account. There's a thread in the current accounts section of this site. Lots of MSErs with varying credit ratings have applied and been accepted so fingers crossed. They all seem to have received a Visa debit card, not Electron a proper one, some have even received a cheque book! (long time since I've had one of those!) Plus you get £50 cashback from Quidco.

daphne_descends

Thanks moxie - that's really helpful