Basic Bank Accounts

bartos1976

Evening all, currently trying to help my brother sort his life out after he split with his Mrs.

About 4 or 5 years ago Yorkshire bank tried to charge him over £100 for 3 failed DD's to the same company over a short period of time. Rather than address the issue with them he started having wages put in to his partners account and transferred all bills etc into her name.

As a result he's had no bills or bank account all that time. As he's now split with his partner and acknowledging his credit history will be shocking he went to Lloyds TSB to enquire about a 'Basic Account' but was refused because they say a 'fraud flag' came up on their searches. They were unable to provide him any further information.

He can't get a credit report as he's nothing other than an address history to provide. Any ideas as to how we can go about getting him back on the right path? Somebody mentioned the 'Think Money' account but he's not keen on paying nearly £20 a month for this privilege. Ideally he'd like to get further information about what Lloyds told him when they rejected him and come out of this with a some sort of account he could have his wages deposited into because at the moment they are going in to mine until this situation is resolved.

Thanks in advance for any useful information anyone is able to provide

john1002

Have you applied to all 3 credit reference agencies using the details he used to apply for his Lloyds account, that may show up his potential fraud market or you may have to ask Lloyds who they use and pay £10 and do a subject access request a search on here will throw up some useful help on this. Until you have all the facts hold off applying to anyone else.

Once you know what is recorded both good and bad we can then help you get him back on track.

John

bartos1976

We looked at Noddle to start with but they wanted card details to verify him, are the others not the same?

colsten

Has he tried applying for a FlexBasic? http://www.nationwide.co.uk/products/current-accounts/flexbasic/features-and-benefits?

If yes, what was the result?

Anthorn

bartos1976 wrote: »

Evening all, currently trying to help my brother sort his life out after he split with his Mrs.

About 4 or 5 years ago Yorkshire bank tried to charge him over £100 for 3 failed DD's to the same company over a short period of time. Rather than address the issue with them he started having wages put in to his partners account and transferred all bills etc into her name.

As a result he's had no bills or bank account all that time. As he's now split with his partner and acknowledging his credit history will be shocking he went to Lloyds TSB to enquire about a 'Basic Account' but was refused because they say a 'fraud flag' came up on their searches. They were unable to provide him any further information.

He can't get a credit report as he's nothing other than an address history to provide. Any ideas as to how we can go about getting him back on the right path? Somebody mentioned the 'Think Money' account but he's not keen on paying nearly £20 a month for this privilege. Ideally he'd like to get further information about what Lloyds told him when they rejected him and come out of this with a some sort of account he could have his wages deposited into because at the moment they are going in to mine until this situation is resolved.

Thanks in advance for any useful information anyone is able to provide

Thinkmoney is more of a service for people who cannot budget on their own and need more of a managed account. To start, regular bills by standing order and direct debit are declared. Then money paid in, for example salary, is split into two pots, one to pay standing orders and direct debits and the remainder available to spend with the prepaid card.

The Secure Trust Bank Current Account is similar in having two pots but you have to split the incoming funds into the two pots yourself. The STB account is also cheaper at £12.50p one-time setup and £12.50p per month.

Staying with prepaid, Cashplus is cheaper still depending on the type of account chosen and provides the facility to pay in salary and pay bills by standing orders and direct debits.

All of the above services are primarily for those who cannot get a basic bank account which will be free when in credit. None of them will contribute to the building of a credit history.

TSB provides the basic Cash Account which is a good start.

Try the Cash Transactor account at Yorkshire Building Society as an alternative to the prepaid accounts if a basic bank account cannot be obtained.

YorkshireBoy

bartos1976 wrote: »

We looked at Noddle to start with but they wanted card details to verify him, are the others not the same?

Noddle aren't a credit reference agency. Go direct to Experian, Equifax, and CallCredit and order the statutory reports by post, paying by postal order...

http://www.experian.co.uk/downloads/consumer/Stat-App-Form.pdf

http://www.equifax.co.uk/efx_pdf/CreditReportApplicationForm.pdf

https://www.callcreditstatreport.co.uk/Content/Files/creditfile-app.pdf


NB: The Equifax form doesn't mention postal order as an option for payment. They want a cheque, but don't stipulate it has to be drawn on an account held by the applicant.

bartos1976

Thanks for the replies guys, he went back to his old bank who had no issue giving him a new account. They said they didn't know what the problem was with Lloyds as no fraud alert came up on their checks