No bank account available for people like me

frustrated14

Hi, Having been discharged from bankkruptcy in 2009, i had a co-op cash minder account, over the last year or so i`ve had dircet debits returned due to lack of funds and now the co-op are closing my account, i`m trying like mad to find an account somewhere, but the main street banks offer me a current account and when i say to them i`m wanting a basic account, they still process the current account application then it gets refused and leaves afootprint and now i`m really struggling,
PLEASE HELP, just need a break, i don`t gamble or drink i don`t use drugs, just wanna fit in. thanks

BugsyBrowne

Best way to fit in is to pay back what you borrow or get a better paid job so you'll then meet your repayments.

opinions4u

Apply online for the appropriate account?

Open a savings only account - e.g. an online account with bill paying (not direct debit) facility?

gb12345

If you are regularly having DDs retunred for lack of funds then this would indicate that you are either living beyond your means or have budgeting problems.

If you are living beyond your means then your problem is only likely to repeat itself and you will find your next bank account closed for the same reason.

frustrated14

gb12345 wrote: »

If you are regularly having DDs retunred for lack of funds then this would indicate that you are either living beyond your means or have budgeting problems.

If you are living beyond your means then your problem is only likely to repeat itself and you will find your next bank account closed for the same reason.

LIVING BEYOND MY MEANS= i wish i could, like i said don`t drink, don`t gamble cannot remembrt the last peice of clothing i bought myself.
The problem stems from raising 2 boys whilst working, this year they leave for the Army, so now its my time hence i`m trying my upmost to sort out my finances

Anthorn

The OP surprises me: I do know from my own personal experience that one or two banks offering basic accounts process applications for the basic account as for their bottom of the range current account. Then they will offer the basic account if only that can be offered. But a new credit search is not necessary because it's already been done. The bank is looking after the customer's interest in ensuring that they get the best possible account for their needs.

For as long as the alternative pre-paid financial sector exists, no-one will ever be left without banking. That will probably be the OPs best option. But it should be noted that in the case of bounced direct debits pre-paid is worse than the bank: If a direct debit bounces it will be cancelled and then you'll need to start a new direct debit. In a lot of cases that means having to contact the payee.

I would say the best pre-paid account for the OP is thinkmoney which will help with budgeting. In fact not so much help as enforce.

http://www.thinkmoney.co.uk

macman

frustrated14 wrote: »

LIVING BEYOND MY MEANS= i wish i could, like i said don`t drink, don`t gamble cannot remembrt the last peice of clothing i bought myself.
The problem stems from raising 2 boys whilst working, this year they leave for the Army, so now its my time hence i`m trying my upmost to sort out my finances

'Living beyond your means' isn't a subjective judgement. It doesn't mean that people think you are blowing all your income on drink, gambling and clothes. It simply means that your expenditure is exceeding your income.

thenudeone

try this "Guaranteed Current Account" (£20 cashback with quidco as well) secure-trust-bank

[Deleted User]

Tried Barclays?

"Barclays Cash Card Account is a basic account that offers free, no-frills banking for customers who may not be able to open a regular current account."

"This could suit you if:
You have difficulty opening a regular current account
You want to keep tight control of your money
You don’t want an overdraft"

http://www.barclays.co.uk/Currentaccounts/Keepitsimple/CashCardAccount/P1242557963900

212

Depending on what the direct debits were for, the fact they bounced may not have been reported to the credit reference agencies. Not sure if Cashminder reports to the CRAs. The more worrying side of it is any subscriptions etc you haven't paid may well be reporting that you're overdue to the agencies - that would hinder any application elsewhere.

You may get an account with Barclays, or you could try Lloyd's Cash Account (can apply online for that too). Alternatively a savings product.

You could even try a co-op 'smart saver'. I know people have had their cashminders withdrawn but still have smart savers, but not sure whether they will let you open one with your closure pending.

Be aware that savings accounts only allow basic transactions - e.g. BACS (money in) and withdrawals at a counter/ATM (depending on the bank) etc - so you wouldn't get direct debits etc with that and may pay more for utilities etc as a result of paying in cash. Not an ideal scenario, but possibly better than paying for an account.

Try to get a basic account at Barclays/Lloyds etc if you can, otherwise it may have to be a savings account. Where do you live? Is there a credit union near you? They may be able to help, and give you some financial advice too.

henm2

Yes try for a basic bank account as this will give you the ability to have standing orders and direct debits paid from it. You can't have such payments usually from a savings accounts.
However with most banks a basic account has always to be run in credit and if payments bounce on three occasions then they will automatically close the account.