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

davidgmmafan

Bit of a random thought here based on adding my wife to my credit union account. Whilst not ideal the credit unions that don't yet offer a current account can still offer joint accounts and accept cheques. Also thinking about it I can't see any reason why wages couldn't be paid into such an account but I will bow to others experience on that (it's just a sort code and account number but the employer would need to quote the reference number for the account).


Please let me know if this should be posted or discussed in a separate thread, I thought this was the best place to put it though.

IF

davidgmmafan wrote: »

Bit of a random thought here based on adding my wife to my credit union account. Whilst not ideal the credit unions that don't yet offer a current account can still offer joint accounts and accept cheques. Also thinking about it I can't see any reason why wages couldn't be paid into such an account but I will bow to others experience on that (it's just a sort code and account number but the employer would need to quote the reference number for the account).


Please let me know if this should be posted or discussed in a separate thread, I thought this was the best place to put it though.

Credit unions are good David and we do advise those who can afford it to open one.

This thread is about having a bank account that is not charged for whilst BR.

Best wishes
IF

baglady

baglady wrote: »

I was made bankrupt about 2 weeks ago.


Has anyone tried to open a cashminder bank account recently. My Nat West personal and business accounts were frozen. I managed to get them unfrozen by OR and withdrew all the money from the accounts. They were going to change my personal account to a basic one but the computer system wouldn't let them do it. I had direct debits on the accounts to pay bills.


Yesterday I went into co-op bank to open an account and had to fill in form which would be sent off.

UPDATE....


I had been expecting to get a letter saying that my bank account application had not been approved. However in the post today I got a visa debit card from the co-op bank. Just waiting for the pin number to arrive. This is a relief as I will be able to set up direct debits to pay my household bills.

baglady

Cobalt77 wrote: »

Don't worry. Natwest will just need to get confirmation that the OR that they have no objections to you keeping a Natwest account. This is just a formality. You will also receive a new debit card (which will have a different number to your"old" one, although it will still be for the same current account you previously had)

A few days of inconvenience is nothing compared to the benefits of keeping your nice Natwest account - I'm sure lots of people here are secretly envious of you

UPDATE...


I managed to get OR to email Nat West to confirm that they have no interest in my accounts. Today I managed to see my online banking account so it looks like the account has finally been. Now waiting for a new debit card as this should be my downgraded basic account. This will save me the hassle of setting up new direct debits.

IF

Bump.............:starmod:

IF

Bumping the thread, please see page 1 :beer:

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

IF

Bump..........:staradmin

tigerfeet2006

Think this thread will need to be binned and a new one started with the new changes that are happening. Alltaken seems to have had the finger on the pulse of the changes.

IF

tigerfeet2006 wrote: »

Think this thread will need to be binned and a new one started with the new changes that are happening. Alltaken seems to have had the finger on the pulse of the changes.

I think you may be right TF, I’m reading all Alltaken’s threads too.

I’m interested to see what happens on Dec 1st and waiting for National Debtline to update their info…..

--- > https://www.nationaldebtline.org/EW/factsheets/Pages/505%20EW%20Basic%20bank%20accounts/Page-02.aspx


Nationwide FlexBasic may refuse you if you have already a basic account with another bank or have I read this wrong?

Applying for a FlexBasic account:
You must be eligible for the account which means:

You must be 18 or over and living in the UK; and

You do not qualify for one of our other current accounts and either

you do not have a current account with another UK-based provider; or

you have a current account with another UK-based provider and you want to switch it to us; or

you have an account with us or another UK-based provider and you need this account because you are having financial difficulties.
We may decline to open an account for you if we have reasonable grounds to believe that you are not genuinely in need of the extra support this account provides. However, we’ll tell you about other current accounts in our range that you are eligible for. Many more will open up in December, but those are your immediate options.

Lloyds basic account - http://www.lloydsbank.com/assets/media/pdfs/cash_account_welcome_pack.pdf

We can still open an account for you if you have a poor credit history. But, if your credit reference agency file shows that you have a history of fraud or are an undischarged bankrupt we won’t be able to accept your application.

Yorkshire Bank Readycash - when filling in online form, it says No undischarged bankrupts, lets hope this is a glitch.

fermi

tigerfeet2006 wrote: »

Think this thread will need to be binned and a new one started with the new changes that are happening.

Very likely, but at the moment it seems like such a mess that I think it will take a while to shake down.