The Co-op Bank Advisor Says No...

chunx

I've had a 4 year history prior to, up to and after my bankruptcy with the Co-operative Bank.

My Cashminder account (both joint and solo) have been kept in good conduct and so today I enquired whether there was any possibility of upgrading my account to a standard current account.

This came about after having to pay for a postal order as I didn't have a cheque book and the nearest branch is not on my doorstep. I could not pay the bill online either.

It appears my 4 year good history with them stands for nothing. I was told, they would not consider me upgrading my account from Cashminder to Standard Current Account until 2017 "where I would be welcomed to apply". :mad:

I was told it's the Co-op policy and your account conduct has no bearing on a decision.

I can understand banks and building societies being cautious but it appears with the Co-operative Bank they're not so co-operative to allow you an upgrade.

I'm just wondering whether to email the Co-op Bank CEO [EMAIL="barry.tootell@cfs.coop"]barry.tootell@cfs.coop[/EMAIL] to complain at being made to feel like a criminal and being treated as a second rate individual but it will probably fall on deaf ears anyway....

Can anyone give a good recommendation for a standard bank account where the bank will consider an upgrade after a period of time?

tigerfeet2006

This has always been the Co-ops policy and is well documented on this board.

Unfortunately untill your BR is off your credit file you will have difficulty getting anything but a basic account.

chunx

I'd rather go back to the days where a physical bank manager would be able to review your account and make a decision rather than such automated services that consider nothing.

Don't get me wrong, I am grateful to the Co-op who gave me a basic bank account long before it was needed (for bankruptcy) but would still prefer to have that personal approach from a bank.

tigerfeet2006

I quite agree with you but unfortunately no bank in the Uk works like that any more. You'd love where I live, weave our own named person at the bank and if anything needs to be signed or spoken about he comes out to my DH place of work to deal with it.

I think there has been the odd success with Nat West and Barclays but it is very hit or miss and more miss than hit. As I said until the BR is off your files then you will have difficulty getting more than a basic account.

chunx

I know tigerfeet2006... nothing ever stays the same.<sigh>
I may try Barclays - I did have a Barclaycard as part of my BR but maybe if I sign up for a basic account and keep popping the odd bit into an account as savings.

Rylynn

Oh right well that kinda of answers my post that I put up a while ago, heck I have to keep a large amount of money in a cash minder account.

My six years is not up until, erm work it out Lynn..... 2014...

Where do they look then Tiger?

dojoman

Rylynn wrote: »

Oh right well that kinda of answers my post that I put up a while ago, heck I have to keep a large amount of money in a cash minder account.

My six years is not up until, erm work it out Lynn..... 2014...

Where do they look then Tiger?

Hi, not too sure what you mean?

Rylynn

Sorry I mean if you phone up Co Op and ask for another account where do they look to then say no, or did this person tell him he was BR? or do they have it on file?

I was going to ask for a savings account as I have been made redundant and I do not want the money sitting in my cash minder account, it is not mega money believe me, but I wanted it out of there. I am out of work, and need an operation and I wanted to ensure that the money I have in redundancy lasts til I get another job.

chunx

Rylynn wrote: »

Sorry I mean if you phone up Co Op and ask for another account where do they look to then say no, or did this person tell him he was BR? or do they have it on file?

I was going to ask for a savings account as I have been made redundant and I do not want the money sitting in my cash minder account, it is not mega money believe me, but I wanted it out of there. I am out of work, and need an operation and I wanted to ensure that the money I have in redundancy lasts til I get another job.

When I rang, they didn't do a formal application but stated I have a marker on my account. Not sure how they got it (some sort of possible "soft" credit check??) but it was a no straight away.

Guess the only way I know whether they did a credit check search will be to keep my eye on Equifax over the next couple of weeks and see if an alert comes through.

tigerfeet2006

You can have a couple of Cashminder accounts, that is not a problem. You can also get an ISA with them and a Savers account. With the Savers account tell the advisor there is BR on your credit file and if the computer says no that you will want them to appeal it. It then is usually accepted. I have 2CM, 1ISA and 1Savers acounts.

Yorkshire Building Society do a good online savings account that I know BR'sand discharged BR alike have got. You just apply for it online.

Also find out if you have a local Credit Union. They are superb and I recommend everyone has one, whether you are working or not, BR or not.

tigerfeet2006

chunx wrote: »

When I rang, they didn't do a formal application but stated I have a marker on my account. Not sure how they got it (some sort of possible "soft" credit check??) but it was a no straight away.

Guess the only way I know whether they did a credit check search will be to keep my eye on Equifax over the next couple of weeks and see if an alert comes through.

Your BR was probably noted on your account from when the OR wrote telling them that he had no interest in the account. Also a lot of banks keep an eye on the London Gazette, I know Halifax in particular do.