BR Friendly Bank Accounts ~ [Updated Sep 2012 re: Co-op Cashminder withdrawal]

alastairq

but it would ring alarm bells with my landlady. I'll have to think of another option.

why?

A lot a bank accounts these days only offer cheques by request? What happens if you have run out of cheques [and cannot find the replacement book?]?

You're entitled to change your bank account as you please....nothing whatsoever to do with your Landlady?

Why has she not got a bank account, anyway?

Does she want your money? Or what? Would she prefer to have the premises not bringing in that regular income?

Pay in a manner that suits you. You are paying for a service, after all?

elljay

No idea why she doesn't have a bank account but it's like lots of people around here, (very rural) - a real cash economy!

Anyway, after taking advice and going through everything with a fine tooth comb it seems I might be able to stave off bankruptcy or any kind of order which would be amazing as I am a local councillor and would hate to give that up.

I do, however, want to open a basic bank account as I think it would help me to stay organised and keep business money separate from home. I made an appointment to open a Coop one but they asked me loads of questions just to make an appointment. They then rang again with more questions and I have to take in bank statements now. I'm really nervous about this meeting, I've already asked about Barclays but how would a Co-op meeting go? I can't believe it's this nerve wracking just to open an account, and am thoroughly ashamed of my bank statements, so much so that I'm thinking of cancelling the appointment.

Be grateful for guidance as to what the adviser will ask so I'm prepared a bit more. Thanks

elljay

I spent a gruelling 45 mins with the advisor at the Co-op and gave her all my income and expenditure. Immediately she could see I was running on a minus balance. She did a short check on the computer which apparently just checks your ID and if you have lived at your present address for 5 yrs or more then that's it. She told me about other services such as will and funeral planning (well I am 62!!) and I left. It was all pretty humiliating but that's probably something I'm going to have to learn to live with. Feels awful though.

Anyway my welcome pack came through the post yesterday and it seems after all that I must have applied for the wrong account. Thinking back I don't think the name Cashminder was mentioned though I did when I first made the appointment to see her and the first question they asked was about my bankruptcy status. (I said I wanted the account to help me manage better which would have been pretty obvious when she looked at my finances!). All along though I said I wanted a basic account with no overdraft facility and no cheque book. The welcome pack talks about a 'Current Account' and nowhere in all the bumph about all of their accounts does it mention Cashminder - just a range of other accounts of which this Current Account is the most basic (apart from the student account)

Has it just been renamed or have I opened the wrong one? I have 2 weeks if I want to close it, can anyone advise please. I can't believe I've messed up at the first hurdle.

Erv

I opened a cash card account with Barclays yesterday - made it clear I was un-discharged from BR. They were knowledgeable and helpful.

Pro - I can have a debit card (thought I would be limited to a cash card)

Cons - I'm not allowed to use online or telephone banking - a tad silly as online banking really helps me manage my finances!

elljay

Hi, if there are no cheques and no online banking, how do you pay people? Shops are ok, but how do you set up standing orders for example, or other payments that you normally do online? Do you have to go into a branch? And what about people who only take cheques? Will the branch organise that for you?

Just wondered if they covered these things with you. Like you I do as much as I can through online banking which really helps me to keep on top of things as much as possible.

TheGardener

Erv wrote: »

I opened a cash card account with Barclays yesterday - made it clear I was un-discharged from BR. They were knowledgeable and helpful.

Pro - I can have a debit card (thought I would be limited to a cash card)

Cons - I'm not allowed to use online or telephone banking - a tad silly as online banking really helps me manage my finances!

Hi
I have the same issue - My Barclays internet banking was blocked today after my BR on the 25th June - ironically, my other accounts that are listed as debts (big overdrafts) are still available If you don't have internet banking these days it actually makes it harder to manage your money. However, the counter clerk at Barclays was very helpful and I can have text alerts, a weekly balance text with last 4 transactions and I discovered you can have a fortnightly paper bank statement rather than monthly so I reckon I'll be able to manage with that - don't have much choice really...
As BR is supposed to be a rehabilitation process rather than a punishment, blocking internet banking does seems a bit pointless but its the way it is so I guess I'll just have to get on with it.

live'n'learn

Was just wondering as my BR will finish this December I would like to go back to Barclays but will the rule of no Internet banking still be the same after BR?

TheGardener

I understand that once you are discharged, Barclays will restore internet and mobile app banking if you ask them to - but not until you are discharged.

kittykatt28

Hi,

I just clicked the link on this post for the Barclays cash card account (I need to open one tomorrow after br) and it says it offers online banking on this account. I thought that Barclays didn't allow online banking for undischarged br, has this changed?

Thanks,
Kat

fermi

They don't allow it for undischarged BR still I think? As soon as they know you are BR they are likely to withdraw the facility,