Basic Bank Accounts

ravenlooney

Ive had my account with LLTSB for over 25 years. But now im in loads of debt which im just starting to deal with and need to open a basic account which isnt associated with Lloyds TSB or Cahoot or Egg (I owe them all money and im worried they could dip my account). Are there any basic accounts out there which come with a debit card I can use to do my grocery shopping online with Tesco?

Darryl

Take a look at this website:

http://www.support4learning.org.uk/money/banks_basic.htm

It lists basic bank accounts with details of what features they offer (incl debit cards).

Darryl.

jonesMUFCforever

I would strongly suggest that if you have a 'proper' account with Ltsb then your best course of action would be to contact each bank/company and negotiate a repayment package (that you CAN afford) and STICK to it.
If you already have a debit card they might let you keep it if you keep to your side of bargain. I do not know of a bank that will give you the type of card you want especially if you are in arrears with Lloyds Cahoot and Egg. They might have screwed your credit file with arrears listings.
Eric

jen_jen_2

if you are in debt to lloyds tsb then you do need a new bank account becasue they will take money out of your account to pay those debts, if your not in debt with them then keep it.

a basic account is likely to give you an electron card not a maestro this is because the electron checks you have the money in your account each time you use it so you cant go overdrawn.

it is a debit card suggest you read other threads about it.

lipidicman

The electron cards are not that great, so try to keep your existing card!

Have you spoken to the companies and explained your situation before you cut and run to a different bank?

ravenlooney

Thanks everyone for the replies. I am in the process of sorting out my debts, but as I owe ltsb loans and credit card and theres an overdraft, Ive been advised by the National Debtline to open a new account not associated with my creditors to start getting my money paid into as it will be safer there. If lltsb dont agree with a payment plan they could just dip my account apparently. I really do need a debit card though and Ive been thinking now that if I applied for a new 'proper' account and not a basic account somewhere else BEFORE my credit rating gets shot to bits (as it will be soon cos I cant juggle things any more) then i might get a 'proper' debit card. If I dont then im just going to have to manage without (somehow) and beg friends for a lift to Tesco to get shopping :-((

sunflower_2

chances are lloydstsb would take your existing debit card off you anyway if u default on money owed to them :eek:


i would try speaking to them first though, as above

if u can keep your existing account and card it would be better for you...

if they agree to your payment arrangement and you keep to it - they shouldnt take any money out of your acc

good luck

ravenlooney

sunflower wrote:

chances are lloydstsb would take your existing debit card off you anyway if u default on money owed to them :eek:

i would try speaking to them first though, as above

if u can keep your existing account and card it would be better for you...

if they agree to your payment arrangement and you keep to it - they shouldnt take any money out of your acc

good luck

Yes, I thought theyd take my card away, thats why im looking for another just now!! And im trying to protect the little money I have if they DONT accept my payment plan as my lltsb loan DD comes from my ltsb account, Ive got a funny feeling they wouldnt change the amount if they refuse my offer.

moggins

The Nat West do a basic bank account which issues a Solo Card which can be used in most places now as well as shopping online with Tesco.

Also you aren't just credit scored by a computer either, you are seen by one of their customer advisers who makes the decision whether you get the account or not.

I've had exactly the same problem and I hadn't received a credit card from Barclaycard which allowed me to carry on doing my shopping I would have been heading to the NatWest as well

ravenlooney

moggins wrote:

The Nat West do a basic bank account which issues a Solo Card which can be used in most places now as well as shopping online with Tesco.

Also you aren't just credit scored by a computer either, you are seen by one of their customer advisers who makes the decision whether you get the account or not.

I've had exactly the same problem and I hadn't received a credit card from Barclaycard which allowed me to carry on doing my shopping I would have been heading to the NatWest as well

Excellent Moggins, thanks for that. If I dont have any luck with a 'proper' account, I'll try them!!

davidcampbell

jen_jen wrote:

a basic account is likely to give you an electron card not a maestro this is because the electron checks you have the money in your account each time you use it so you cant go overdrawn.

QUOTE]


common misconception. electron SHOULD be checked on each transaction as per the terms of the card, but isnt always. not foolproof


DC