Can't get a bank account anywhere

betterdaysahead

You should be able to get a Co-Op Cashminder account (I have two!), which comes with a Visa Debit. I believe Barclays also offer a similar account.

Flobberchops

Yes, it looks like the high street banks have collectively shaken up their cash card accounts. Barclays is now offering an account solely for people with poor financial history, particularly CCJs and bankruptcies - very basic cash card account with no lending facilities but also no charges for returned payments etc.

Anthorn

There is a shake-up going on due to an agreement between the last coalition government and the banks to review basic bank accounts. The new accounts should be available to everyone and be completely free. But how the banks will respond to unpaid items due to insufficient funds remains to be seen.

"The changes will minimise the risk that basic bank account customers will be forced into overdraft by fees or charges."

https://www.gov.uk/government/news/new-basic-fee-free-bank-accounts-to-help-millions-manage-their-money

lynxptc

Anthorn wrote: »

There is a shake-up going on due to an agreement between the last coalition government and the banks to review basic bank accounts. The new accounts should be available to everyone and be completely free. But how the banks will respond to unpaid items due to insufficient funds remains to be seen.

"The changes will minimise the risk that basic bank account customers will be forced into overdraft by fees or charges."

https://www.gov.uk/government/news/new-basic-fee-free-bank-accounts-to-help-millions-manage-their-money

How exactly does it work with the new scheme introduced by the government making banks offer basic accounts to everyone?

Anthorn

lynxptc wrote: »

How exactly does it work with the new scheme introduced by the government making banks offer basic accounts to everyone?

Probably work the same as when Basic Bank Accounts were first launched at the Government's suggestion which isn't good.

That's not the only development. We have new banks either licensed or in the process of licensing which are about to slug it out on the Web 2.0 and social media platforms, digital which basically means all online without branches. There is Atom Bank and Starling Bank not yet available to customers in the process of development while prepaid Fidor UK appears to have launched first with an unfinished product no doubt with the premise that first off the starting block wins.

Personally, I think we will be moving away from the traditional banking platforms and into digital banking online and mobile. Whether that's good or bad remains to be seen. But at the least it will open up opportunities to get a bank account while at the same time bringing into question the need for branches and personal banking.

http://www.starlingbank.co.uk/
https://www.atombank.co.uk/
https://www.fidorbank.uk/