Post-Debt savings account?

moohound

Hi all,

I went in to HSBC today to open an ISA and a savings account, I have a Basic Bank Account with them which I have had for 2 years.

The ISA was fine and I deposited £100, but I was refused the savings account, I only wanted the most basic one paying next to no interest, but I was told I had to upgrade to a regular current account to be eligible, and of course "computer said no" on that one

I am perfectly happy with the basic account and don't want anything else really, just a savings account.

I have had to put my savings so far in an account in my husbands name and it gets confusing.

The very nice lady said I would only be allowed one if I needed it for a specific purpose, and I had said I just wanted general savings.

Has anyone else had an issue with this?, what would be a suitable purpose for me to suggest if I tried again?, I was a bit surprised when she asked me what I wanted to save up for and couldn't think of anything

I earn £32000 a year and have £800 - £1200 left over when all my essential spending is paid, depending on overtime.

savingmummy

That's a lot left over each month i don`t see why they wouldn't upgrade you.


I have had no problems in the past opening savings online with the AA, Santander, Lloyds tsb and the post office.
I have no income (sahm) and don`t have much to save either.


Did she say why you couldn't upgrade your basic account?

moohound

savingmummy wrote: »

Did she say why you couldn't upgrade your basic account?

Massive defaults about 20 months ago now, all paid I owe nothing except my mortgage.

So she said I could only have a savings account if I upgraded my basic account to a normal one (which I am not bothered about anyway) then the credit check for that failed me (not surprised) so I couldn't have a savings account at all

I don't want an overdraft or a check book, just a savings account

That account is available to 16 year olds with no income :mad:

Monkeyballs

Hi Moo,

Great isn't it... One minute they want your money the next you can give it to them!!!

I'm guessing that you just want a savings "pot" to put ready cash into?

Don't go upgrading and paying for the privilege, why not open a second account with somewhere like Barclays and keep cash in there (rubbish/no interest but it's easy access) or see if there is a credit union nearby?

MB of G x

[Deleted User]

why not just save in the isa?

Monkeyballs

woodbine wrote: »

why not just save in the isa?

I did wonder but it sounded too obvious LOL I was guessing save in the account then transfer later so there is always something easy to access without losing interest...

If I'm over thinking it, do that

MB of G

moohound

I wanted to have the ISA as a long term things like for when my car packs in and needs replacing, and the savings account for shorter term things like Xmas and holidays.

But I guess thats my only option.

Will look at the credit union, thanks MB, but I really wanted to be able to see everything on one online page

I am just struggling to understand why I could have an ISA and not a savings account, I am baffled to be honest.

I had nine defaults so a lot of banks (Lloyds, Barclays, Post Office, Halifax ) will tell me to jog on

Monkeyballs

I think that legally you can't be refused an ISA account... I could be wrong here... Unless you already have one or are doing something dodgy?

MB of G

moohound

Monkeyballs wrote: »

I think that legally you can't be refused an ISA account... I could be wrong here... Unless you already have one or are doing something dodgy?

MB of G

Makes sense, she let me have that straight away, I just had to sign to say I didn't already have one, and that was about it, for the savings account she ran up three flights of stairs and made loads of calls then said no.


I'll just stuff the money under the mattress then I guess

Monkeyballs

moohound wrote: »

Makes sense, she let me have that straight away, I just had to sign to say I didn't already have one, and that was about it, for the savings account she ran up three flights of stairs and made loads of calls then said no.


I'll just stuff the money under the mattress then I guess

Or I could... y'no... look after it for you? :iloveyou: I swear I'll pay it back... Trust me, would I lie to you?

MB of G x

AGirlWrites

Could you not open a second basic account?

I have 3 basic accounts with Natwest that I now use for various savings pots.

AGW