Barclays Basic vs Nationwide Flex Basic

Brandnewstart79

Hi there i'm and undischarged BR and will be free in August. I can put around £2000 PCM into a bank account so do you reckon i could get a basic account with Nationwide. The main reason i want to be with them is of the Mortgages, which is something i will look at in the future.

Thanks

Mollie_Guinness15

I opened a Nationwide Flex basic online without any issues whatsoever. As soon as April is over I will be doing the Online account switch from Barclays.

Brandnewstart79

Even though you're still Bankrupt? will try that this weekend if so.

Regards

Brandnewstart79

Wow yes i have been accepted for Nationwide Basic Bank account. I'm over the moon with that and can now start to get myself together with a Bank that can offer me so much more than others.

Thank you again guys

[Deleted User]

Glad you've sorted it

Just to clarify - the 'new' basic accounts (launched December 2015) don't have fees etc across the board for un-arranged overdrafts/bounced DD etc, and have to take bankrupts.

That brings an end to the situation where only Barclays would take bankrupts, and they've be hit with charges etc for bounces etc.

Previously Co-Op also took undischarged, but stopped that a few years ago as everyone was being sent straight from court to Barclays or Co-Op!

Now the banks that offer it (8 I believe) are essentially fee-free under some kind of FCA/Government scheme to improve access to basic banking for all. They aren't supposed to let you go overdrawn, so can't charge interest/fees for doing it while on the BASIC account only (when 'upgrading' you, they can!). It's hard to go overdrawn as all transactions (including contactless) are authorised in real time, but it is possible (pay at pump....). If you take the mick too much they can close the account still - similar to what Co-Op used to do with the cashminder (pre-2015 changes)

Whether having a basic account at the bank will stop you ever getting an upgrade/credit card etc (because they hold the data on you for more than 6 years that you were BR when you opened the a/c) remains to be seen.

For what it's worth - Nationwide were fairly positive about my chances of getting a credit card after good conduct, but I'll believe it when I see it! That did come from speaking direct to appeals about internal scoring etc too. So there is certainly more 'hope' these days for undischarged & discharged BRs

stuart30

Just wanted to chip in with another recommendation for Nationwide...my credit file is pretty dire and after looking at this thread it got me thinking about Nationwide.
Click Click Click and new account...im with Barclays (had accounts with both prior to bankruptcy in 2010) and while the App/Online and Contactless all work great,ive never found Barclays that helpful in Branch.
Compared to Nationwide who were super in doing what they could when I needed to withdraw a large amount of money at very short notice several times...maybe just my local branch being extra nice,not sure but always felt valued as a customer.
Mobile app is pretty poor...but does what it needs to.
Hopefully reqular money going in and direct debits will see the account upgraded....something Barclays have refused for several years now.

WLITC

Another vote for Nationwide here too. I got a regular bank account with them almost a year before my BR fell off (just because I wanted to use Apple Pay and Barclays didn't support it) but then in Feb, after 6 years with Barclays I made the full switch to Nationwide and they also gave me their regular credit card at the standard advertised APR. As Stuart30 notes the app isn't great, but its actually that bad either, just not as good as Barclays.

Mollie_Guinness15

I'm on day 5 of the full switch to Nationwide now. Barclays made it quite clear they wouldn't consider me for anything other than a basic account until at least 2020, and that they had no plans to introduce Apple Pay for the basic account either. All this despite me never going overdrawn with them once since 2009!!

owlet

Well, I just tried to log into nationwide (haven't tried since discharge) . I was able to log on and my e savings was still open. There was an ad there to apply for a current account so I bit the bullet and applied for the flex basic - and was approved!
I'm ridiculously happy lol. Once it's up and running I can get rid of the coop and work between nationwide and barclays :-))

Mollie_Guinness15

Switch all done in the 7 days promised. People say the mobile app isn't as good as the Barclays one, but it seems to do pretty much everything that could do and more. I particularly like the Quick Balance feature. The full web based online banking facilities are superb, with a nice calendar view of when transactions have occurred being a nice touch. So far I'm really pleased.
Oh and Apple Pay is the icing on the cake!