U Account "Un-Banking" - Anyone heard of them ?

Anthorn

eDicky wrote: »

It's hard to imagine anyone even contemplating paying so much for a prepaid card when alternatives with zero fees exist, including basic bank accounts that provide a card.

But this could be another symptom of the 'post-truth' era, with businesses as well as politicians and media realising that you can tell a dumbed-down population anything, regardless of the facts, if it's something that they like to hear. So people will go for something that is touted as 'free', even if there are various charges involved..!

It depends on what you get for the fee and whether you think it's worth it. Personally, I'm on track to pay £2.00 per month after my 6 months intro period at £1.00 per month for the Soldo prepaid Debit Mastercard. But I think the extra security, budgeting and overseas travel/currency advantages in a single card is worth that £2. On the other hand I think that U which provides nothing extra to a free (basic) bank account is not worth their comparatively quite extortionate fees.

gregor123

agrinnall wrote: »

But of course in your case completely avoidable by simply being aware of your financial situation.

illness unfortunately! they weren't sympathetic! not everyone has control either... divorce, redundancy etc

agrinnall

gregor123 wrote: »

illness unfortunately! they weren't sympathetic! not everyone has control either... divorce, redundancy etc

But none of those things are the fault of the bank, they are simply applying the charges that you agree to when you open or continue to use the account. An illness that prevents you knowing that you've gone into your overdraft is indeed unfortunate, and if it's the first time it's happened and you can present a good case then perhaps a degree of sympathy might have been good for the promotion of customer relations.

gregor123

agrinnall wrote: »

But none of those things are the fault of the bank, they are simply applying the charges that you agree to when you open or continue to use the account. An illness that prevents you knowing that you've gone into your overdraft is indeed unfortunate, and if it's the first time it's happened and you can present a good case then perhaps a degree of sympathy might have been good for the promotion of customer relations.

absolutely, and you would have thought so but despite showing them proof of hospital visits for prolonged periods it fell on deaf ears... since then i read everything with a fine toothcomb!

symesd

Does anyone actually have an account with https://www.uaccount.uk, does it work, I am currently with think money and they have recently upgraded their accounts and now nothing works .....

If you do have an account - how does it compare, what are the actual fees - I am happy paying fees if it means I do not miss any payments for my bills, think money said they would manage this but its all gone wrong lately and I am missing bills all over the place.

I need a new bank account like think money but one which works and possibly has savings attached too.

I am in an IVA so cannot get a mainstream bank account.


Thanks

EarthBoy

symesd wrote: »

I am in an IVA so cannot get a mainstream bank account.

You should be able to get a basic bank account with any of the main banks. Basic bank accounts are specifically aimed at those with debts and bad credit records.

Biggles

jasonwatkins wrote: »

The money paid in to your U Account is held in a Barclays account operated by Wirecard Card Solutions.

Wirecard? That name alone would make it a bargepole job for me, after what I have read about the way the company operates. See http://lordshipstrading.blogspot.co.uk/ for starters.

Chapuys

Wirecard operates behind most of the prepaid card market. I know Monzo and Pockit use wirecard.

Op, pockit are issuing cards as I got one to backup when monzo goes to a proper debit account later this year and I want to keep a prepaid card for budgeting reasons.