Acorn account

vanda

Anyone got experience of acorn account. Had e mail today - open account with no credit check

JWalker1995

Unless you have a particularly bad credit history I'd avoid, its £9.95 per month, for which you get nothing in benefits. If you are stuck you'd probably be better getting a FlexBasic from Nationwide tbh. I'd definitely avoid this account

vanda

What do u think about opening one of these then switching. Would it be easy to do this do u think

JWalker1995

i would not use these as switcher accounts, I don't think they are proper current accounts. If you want an account to switch with, either ask your current provider, or pick a bank which isn't currently offering a switching bonus (again Nationwide)

Superscrooge

vanda wrote: »

What do u think about opening one of these then switching. Would it be easy to do this do u think

Opening an acorn account purely because you hope it will help you switch to another account is unlikely to work in the short term and at £9.95 a month is very expensive.

If your credit history is too bad to be accepted for a standard bank account, the banks won't immediately let you switch to one of their accounts just because you want to switch from an acorn account.

Have you tried applying for some of the basic accounts on offer from mainstream banks?

colsten

vanda wrote: »

What do u think about opening one of these then switching. Would it be easy to do this do u think

You can't switch them. They are not a bank or building society participating in the switching scheme. http://www.simplerworld.co.uk/Pages/Banks.aspx#a

vanda

Thanks for the advise. Had bad credit ref about 12 years ago. Never had any credit since

JWalker1995

vanda wrote: »

Thanks for the advise. Had bad credit ref about 12 years ago. Never had any credit since

Your bad credit mark expires after 6 years so you should have a clean record, why not open a basic current account and then try for an easy credit card like the barclaycard initial

chris_m

JWalker1995 wrote: »

If you want an account to switch with, either ask your current provider, or pick a bank which isn't currently offering a switching bonus (again Nationwide)

Probably wise not to tell them why you want the account, though

colsten

Check what it says on your credit files. You can get one of them entirely free - noddle.co.uk.