Eccount has anyone got any reviews?

SnowTiger

pmduk wrote: »

Do a minimal amount of management on your mainstream account, you won't be paying anything at all.

I think one problem a lot of people have is that they check their account balance and assume the figure that's presented is how much money they have to spend.

They forget the payment for their mobile phone that will be taken on Wednesday and the payment to Sky that will be taken on Friday. They forget they haven't paid their credit card bill this month.

IIRC STB ring-fences money for bills.

Many of us can easily do that ourselves. Many can't, even if they spread the load between two accounts: one of spending, one for bills.

There are all sorts of things that some of us can't do. It's usually not a problem because we employ other people or companies, such as STB, to do them for us.

pmduk

SnowTiger wrote: »

They forget the payment for their mobile phone that will be taken on Wednesday and the payment to Sky that will be taken on Friday. They forget they haven't paid their credit card bill this month.

IIRC STB ring-fences money for bills.

Hence my suggestion to take control of your account. In my own case for example, I've spent a few minutes checking which DDs are due soon and the precise amounts to be taken. I know now how much is available to me.

There will be a very small number of people for whom a prepaid card is suitable. I firmly believe it should be the very last resort.

Anthorn

BASFORDLAD wrote: »

But you dont pay anything for a simple building society account

You cant over draw, just have your wages paid in etc etc.

Doesnt get much more simple and free then that

With a savings account I agree. But with a savings account we don't get direct debits. All other accounts can and do overdraw incurring substantial charges which is bad news for anyone who doesn't or is incapable of effectively managing their accounts. Now anyone who disagrees with that must either be living on some obscure planet outside of our galaxy or is adopting an unreasonable holier than thou attitude.

To such people I recommend pre-paid alternatives which don't overdraw and don't have charges. In particular I recommend Secure Trust Bank because it's a real bank, owned by Arbuthnot Banking Group in existence since the 19th century and also owner of merchant bank Arbuthnot & Latham, regulated by the FSA with funds protected by the FSCS and shares quoted on the LSE.

But whether it's Secure Trust or other solutions such as Think Banking, Card One Banking or even Cashplus, prepaid accounts are not easy options: If not effectively managed Direct Debits and Standing Orders start to get removed rather quickly but there are still no charges. But sometimes we need to be beaten with a stick to get us back on track and often that stick has to be in our own hand.

I've known people who have had their wages, salaries or benefits grabbed by their bank as soon as it is credited, are left with nothing to live on and are dependent on their bank to loan them money mostly by increasing the overdraft which has only just been reduced when their money was credited. Such people are effectively owned by their bank!

It's pretty much a no-brainer: If the above is the case, get out of there and negotiate with the bank a repayment that can be afforded. When the bank are not getting all the income there is leverage. If it comes to court and a CCJ no court in the land would ever award the bank 100% of income!

BASFORDLAD

Not true.

Many building societies allow direct debits.

Yorkshire bs/ cumberland/ Coventry/ Derbyshire/ Furness/ just to name a few so your,statement is wrong.

You sound like an advert for secure trust

Anthorn

BASFORDLAD wrote: »

Not true.

Many building societies allow direct debits.

Yorkshire bs/ cumberland/ Coventry/ Derbyshire/ Furness/ just to name a few so your,statement is wrong.

You sound like an advert for secure trust

As a matter of fact, although I don't live there permanently any more, my home town is Barrow-in-Furness and I know that the Furness Building Society being savings and mortgage oriented don't allow direct debits on their savings accounts. I didn't bother checking on the other savings accounts you mention because I know they don't either.

STB is a similar account to Eccount mentioned in the topic title and the opening post and is therefore on topic, justified and valid. If recommending the best of the bunch is advertising then so be it but in that case rather a lot of forum members are advertising!

Really, if you can't post intelligently and responsibly, don't post!

BASFORDLAD

Anthorn wrote: »

As a matter of fact, although I don't live there permanently any more, my home town is Barrow-in-Furness and I know that the Furness Building Society being savings and mortgage oriented don't allow direct debits on their savings accounts. I didn't bother checking on the other savings accounts you mention because I know they don't either.

STB is a similar account to Eccount mentioned in the topic title and the opening post and is therefore on topic, justified and valid. If recommending the best of the bunch is advertising then so be it!

Really, if you can't post intelligently and responsibly, don't post!

Ive bolded your statement for you, i suggest you follow your own advice. As regards to Barrow that is indeed my old hometown to, thank you very much.....

This is money saving site, what i am doing is offering people the free option when they dont think they exist but they do, now i suggest you get your coat on your way out

http://www.ybs.co.uk/savings/easy_access/cash_transactor.html

Cash Transactor is for those who make lots of deposits or withdrawals, or who want to be able to pay regular bills, really more like a bank account than a savings account.

• Choice of Passbook or LINK ATM card options
• Pay bills through direct debits and standing orders
• 24-hour access via LINK cashpoint network if you choose the ATM card option
• Manage your account online
• Account must be opened with £100
• But the operating balance is zero

Cash Account

http://www.thederbyshire.co.uk/savings/easy_access/cash_account.aspx

• Have your salary or wages paid directly into the account, meaning less hassle and greater security.
• Open a Cash Account with just £10 if you are 14 years old or over.
• Make regular payments from your Cash Account to other Derbyshire Building Society accounts.
• Fixed interest rate, until further notice.
• Please read the Key Product Information for this account before you apply.

Access your money 24 hours a day, 365 days a year

Pay bills, transfer money or just check your balance. Our CallSave MoneyManager instant access account has everything you need to conveniently manage your day-to-day money over the phone.

• Invest between £1 and £250,000
• Access your savings without notice or penalty whenever you like by phone or at a cash machine using your CashLink card
• Get a rate of up to 0.33% AER* (variable). This assumes an average balance of £4,000
• Manage your account over the phone, or online, simply ask us to add Online Services to your account
• Pay regular bills by Direct Debit or standing order
• Pay money in by transfers, standing orders, at a branch cash machine, or pop a cheque in the post
• Annual or monthly interest options available
• http://www.coventrybuildingsociety.co.uk/savings-and-investments/easy-access/callsave-moneymanager/callsave-moneymanager.aspx

Anthorn

Yorkshire Building Society: Savings accounts are subject to fees and charges in the case of overdrafts and items. Yorkshire also don't publish their scale of fees and charges on their website that I can see. I had to search for it!

http://www.synthetix-ec2.com/clients/ybs/index.html?label=h2

Derbyshire: No direct debits and standing orders.

Coventry: Fees and charges.

Where direct debits are allowed, by their nature, there is always the possibility of an overdraft and unpaid/paid items and therefore charges.

BASFORDLAD

The Derbyshire does allow direct debits etc....

I give up....

Perhaps you should learn some money management

Anthorn

BASFORDLAD wrote: »

Perhaps you should learn some money management

Oh I don't have any problems with my money management except back during the bank crisis when I was made redundant and my income fell to a third of it's former glory: When my debts are paid off next year I will have made payments every month for 6 years.

But lots of people do have problems with their management and they need help and advice, not condemnation with holier than thou attitudes.

Here endeth the lesson.

The_pc_tech

What about a coop cashminder account?

Can I make a suggestion that helped me enormously to get my affairs back on track as I was in a cycle of constantly being in debt to my old bank.

When I switched banks I set up two current accounts, the primary one my salary is paid into does have a £500 overdraft facility but I've only ever dipped into this by a 100 or so once or twice.

The second has no OD on it and is used as a bill account, I worked out the total amount of my standing orders and DDs which I put on this account and set up a sranding order from my main account for the date my salary goes in to transfer the required amount to the bill account.

In my expwrience the prepaid cards work out very expensive (I did have a branded one which was issued by a building society and they charged for pretty much everything, I have looked at the ones currently on offer too so I don't use my debit card on the web but they really do work out expensively)

I hope the OP finds a solution that does not mean they hand over huge sums to a finance company or bank.