How to open a bank account?

rasumos

Hi all.

About 10 years ago at the age of 20 I royally screwed my credit rating, being young and stupid.

Anyway, since then, I've avoided credit and bank accounts etc entirely. I have nothing whatsoever. My wages have always been paid into my fiancee's account, her credit has always been fine.

We want to buy a house in a few years, and are starting to save, so we thought it was time for me to try to be financially independent again.

As such I've been trying to open my own bank account. Bear in mind, that in my 7 years at my current address I have had no credit, not been on any bills, and not been on the electoral role.

Co-op rejected me for a normal account, then rejected me again for a basic account.

Santander rejected me for a basic account.

An experian report shows me nothing except those two credit searches. Santander say they rejected me on credit grounds, but all my old defaults can only be long gone by now.

Am I just a financial pariah for the rest of my life? Is there anywhere I can open an account without a credit check?

Thanks!

agrinnall

They've probably rejected you because you have no credit record, not because you have a bad one. You need to start getting some credit in your name, but ensure it's always paid off. Mobile phone contracts can be a good starting point, as can household bills.

You may be able to get a savings account without a credit check, and if you choose one that allows direct debits then you can use that for your credit building. Although really a basic account would be better if you can get one somewhere.

rasumos

It's a bit chicken and egg though, if I can't get a basic account how will I get a mobile phone! (and I wouldn't need one anyway, I have a work phone).

I'll look into the savings account avenue.

Gromitt

The first rules is to get on the electoral role. Without that you'll find any kind of bank account difficult as they can't prove that you are you or that you live where you live.

Once thats sorted and appears on your credit report, try again for a basic bank account. Ensure its at least 3 months since the last time.

Archi_Bald

OP, have you worked through this article: http://www.moneysavingexpert.com/banking/basic-bank-accounts?

And still not got any luck?

rasumos

Yep, was the co-op cashminder account I applied for.

Archi_Bald

There are a lot more options mentioned in the article / in the links from the article.