Co Op to stop basic accounts for BR

Stepup

3 years. After I got annoyed with my card still being randomly declined as an electron.

The hassle of opening savings, the refusal of anything but Cashminder.

Instant accept at Barclays. I had cleaned all my credit files up. I know with Barclays. Once you are discharged they upgrade the account anyway if you ask. To at least normal phone/net banking.

Loopy1

PippaGirl wrote: »

I'm reading the Co-op press release thing-ama-jig as meaning as of the date of change (Monday 17th) any existing customers can have and use a cashminder account if they go BR. But anyone becoming a Co-op customer after that won't be able to use (or maybe even have?) a cashminder account and be bankrupt. If that's the case then it will be no good opening a Cashminder and then going BR if you weren't a Co-op customer before the 17th Sept?

If you open an account is it instant, I was just wondering if my DH rang tomorrow would it be classed as having an account before the 17th?

debtinfo

This seems like a very ill thought through action in my opinion

Co-op seem to forget that they are not really a very good company ie a good company in terms of efficiency and offering the best rates to attract paying customers.


However co-op can survive like this because they can charge a premium for poor service because it comes with the added benefit that they opperate in an ethical manner and for a small but significant section of the population that is more important than receiving the best deal.

This move shows that their ethical stance is only an eggshell edifice presented to the public and that underneath they are moving towards joining the mainstream amoral large companies.

Unlike many here i have never been bankrupt and have no need of co-op's ethical stance to help me, I will not be using any co-op services from now on as i see no need to now pay the premium they require when they are really like all the rest and i hope that many others follow my lead and that the loss of custom far outweighs the savings acheived by them today

Changling

Stupid question, but if I open a Co-op account today online (I'm not yet BR) will I qualify as an 'existing customer' when I go BR?
CH

PippaGirl_2

I didn't think you could open an account online? They told me I had to go in with all my ID evidence and open it in person when I opened mine.

Changling

Hi, no, I found that out when I went onto their website. However, I've just opened one via telephone and been accepted (minor miracle).
So I'll keep it in my back pocket with just a quid in it ahead of BR.
Maybe Co-op will get a rush of Cashminder applications today??
Gotta dash off now.
Thanks everyone.
Life's an education!
Ch
xx

Changling

Oh, finally... I think the Coop's decision is based on their being hacked off with carrying the 'banner' for Financial Inclusion, when most of their competitors do b*gger all. Maybe they think this'll bring the issue to a head. I wish some of the local credit unions could run mini bank accounts. I'd love to bank with them.
And finally, finally... this is the one of the true achievements of this board - flagging things up for the poor unsuspecting BR/struggling imminent BR. Without it the world would seem colder and even more scary. Thanks folks.
Gotta dash today.
Ch
xx

Newbielookingforadvice

I still think many people are still lucky that theirs such a thing as bankruptcy and to be perfectly honest hopefully banks do make it a lot harder for people to get bank accounts as banks are there to make money and it wasn't the banks fault that customers take out more debt and live beyond their means.

I do not mean this in a horrible way but back in the early nineties my our finances hit rock bottom with about 27k of debt but as my OH wanted to join the police we made sure this was all paid up before applying and it took us 9 years to pay every penny back.

Were we stupid probably yes but our pride and carrers were important to us so we struggled with every thing didn't even have a holiday for best part of 10 years so I really honestly think finding a bank account should be the least of your worries if someone's going BR.

Once again I don't mean to sound nasty but you can't really have your cake and eat it as there are far worse people out there.

Our friends very close friends went BR in the late nineties and asked us for advice knowing we've been their and done it and they basically owed around the same amount as us and they decided to go down the BR route instead of at least trying to pay it back and within 2 years they were having holidays going for expensive meals clubbing etc.

So think yourself lucky IMO.

john1002

This is indeed sad news, hopefully someone will get a positive answer to the question for those who are not yet discharged and have an account afterthe 17th september will they be able to keep the account as an exsisting customer. Or will they as they have always done with savings accounts as soon as notified of bankruptcy close the account.

john

Tupperware_Queen

Newbielookingforadvice wrote: »

I still think many people are still lucky that theirs such a thing as bankruptcy and to be perfectly honest hopefully banks do make it a lot harder for people to get bank accounts as banks are there to make money and it wasn't the banks fault that customers take out more debt and live beyond their means.

I do not mean this in a horrible way but back in the early nineties my our finances hit rock bottom with about 27k of debt but as my OH wanted to join the police we made sure this was all paid up before applying and it took us 9 years to pay every penny back.

Were we stupid probably yes but our pride and carrers were important to us so we struggled with every thing didn't even have a holiday for best part of 10 years so I really honestly think finding a bank account should be the least of your worries if someone's going BR.

Once again I don't mean to sound nasty but you can't really have your cake and eat it as there are far worse people out there.

Our friends very close friends went BR in the late nineties and asked us for advice knowing we've been their and done it and they basically owed around the same amount as us and they decided to go down the BR route instead of at least trying to pay it back and within 2 years they were having holidays going for expensive meals clubbing etc.

So think yourself lucky IMO.

This is a board which aims to support those who are about to, or have, been bankrupt. Your comments do not really advance this thread at all, and are sadly reflective of the attitude most BR have to put up with.

You dealt with your debts, well done, that is a great achievement, but some of us are not in a position to do that, and BR remains a difficult, but neccesary action. It is a legal process, and is not the easy option you seem to think it is.