Current account for unemployed?

Anthorn

Heng_Leng wrote: »

You may well qualify for a standard account (without overdraft). Apply for one and they'll generally offer the basic version as a fallback.

DONT go for the Fidor or Post Office account other than a last resort. Fidor charges for ATM withdrawals after the 3rd and the Post Office account can only be used in Post Office ATMs & for benefits.

The Fidor UK debit card charges just £1 per withdrawal which is pretty cheap as no credit check prepaid accounts go: For example, just 1p more than Pockit. And it's green.
https://www.fidorbank.uk/personal-banking/smart-account

@ remembe: You started by asking which bank accounts are easiest to open for the unemployed and now that's progressed to going for switching benefits! I'm sorry I wasted my time in this thread! Bye-bye.

TheSkints

grumbler wrote: »

Why do you want a new one then?

Personally I'd say it's always better to have options. Once when I was in a far flung land one of my cards didn't work in the atm, but the other one did - for some reason.

Don't put all your eggs in one basket and all.............

ratechaser

Including donors, I've opened about 15 accounts over the past few weeks and I'm between jobs right now (which is why I have time to play this game). Not had a problem with any of them despite declaring myself as 'unemployed' when applying - except for HSBC, and that will be an extremely interesting conversation when I go into the branch tomorrow.

What may help is if you have any fixed savings due to mature this year etc, I'd take the view that it counts as income, and certainly strengthens the case that you can meet any funding requirements.

SnowTiger

ratechaser wrote: »

Including donors, I've opened about 15 accounts over the past few weeks and I'm between jobs right now (which is why I have time to play this game). Not had a problem with any of them despite declaring myself as 'unemployed' when applying - except for HSBC, and that will be an extremely interesting conversation when I go into the branch tomorrow.

That doesn't surprise me. There's no need for most customers to faff around with a third-rate account from Fidor.

I've heard that HSBC likes commitment. They may not want your custom because you have (many) accounts elsewhere.

ratechaser

SnowTiger wrote: »

I've heard that HSBC likes commitment. They may not want your custom because you have (many) accounts elsewhere.

Ah well they have my number then. And very shortly I will have theirs (120 to be precise )

colsten

SnowTiger wrote: »

I've heard that HSBC likes commitment. They may not want your custom because you have (many) accounts elsewhere.

They let me have a 2nd Advance account even though I never kept a penny in the 1st one overnight and have some 20-odd current accounts elsewhere. The 2nd Advance is just a donor account that I will use as and when I have a profitable opportunity.

EarthBoy

Anthorn wrote: »

The Fidor UK debit card charges just £1 per withdrawal which is pretty cheap as no credit check prepaid accounts go:

It might be cheap, but it's still £1 more than withdrawals from a basic bank account, which are free.

Katiehound

SnowTiger wrote: »

I've heard that HSBC likes commitment. They may not want your custom because you have (many) accounts elsewhere.

Erm... they seemed to like me last summer even when I said categorically that I wasn't switching my main current a/c and I was looking to see what goodies they had for me!..... no problems at all.... and I took all the goodies on offer. (Well it would have been churlish to refuse, wouldn't it?)

Anthorn

EarthBoy wrote: »

It might be cheap, but it's still £1 more than withdrawals from a basic bank account, which are free.

... for people who can get a basic bank account eh?

There are still lots of people who depend on prepaid card(s) for their banking needs. If that was not true services like Cashplus would have been out of business long ago.

As I said, as prepaid goes £1 is cheap but not as cheap as the pockit card at 99p.

The other difference is that Fidor UK is a regulated bank whereas I know of only one other prepaid service which is also a regulated bank, Secure Trust Bank. All of the others use 3rd party banks.

System

The only people who'll realistically get refused one of new basic accounts (from every provider) will have no ID or a history of fraud.

Fidor has uses a third party it's limited incoming / outgoing payments, doesn't accept cheques or BACS credits, doesn't offer Direct Debits along with the £1 ATM charge. It's substantially inferior to a basic account.

You refuse to accept that basic accounts are now essentially charge free (unlike previously) making paid for products much less appealing.

Anthorn wrote: »

... for people who can get a basic bank account eh?

There are still lots of people who depend on prepaid card(s) for their banking needs. If that was not true services like Cashplus would have been out of business long ago.

As I said, as prepaid goes £1 is cheap but not as cheap as the pockit card at 99p.

The other difference is that Fidor UK is a regulated bank whereas I know of only one other prepaid service which is also a regulated bank, Secure Trust Bank. All of the others use 3rd party banks.