new "bank" account

NewUser999

Hi,

No idea how to start this.....

OK. I have no bank account and haven't had one for 15 years or more of my adult life. I have so ridiculously under the radar it is worth a book deal about...

Now I want/need one. It is getting harder and harder to pay in cash for things, the final straw is to not being able to pay cash into my landlords bank account for my rent.

In the past I got in a mess and abandoned my bank account.
Life has been up and down but now I am earning very good money (paid into a relatives account) and I want my own bank (or other) account.
I have significant "savings" 50k or so. Will hopefully at least double that in the next year or so I can buy a flat outright. (I am not planning for buying somewhere down south)
It is all above board (I am no drug smuggler or hitman or something) in fact I am IT consultant.

I want:

I want credit protection as a bank (what is that 85k.) -this has been difficult for me to work out for "non-bank" account that I likely desire.

Debit card.
able to do Direct debits.
Bank transfers to other banks.
Be able to have free ATM withdrawals.

Want I don't want

Any credit checks - I have zero history at all.
I don't want to go into a bank and ask for a basic account.
(E.G. I want to create an "account" online as much as possible.)


What I don't care about:

Monthly fees
If it costs 10 or 20 a month that is fine.

xylophone

I have significant "savings" 50k or so.

Under the mattress? In the relative's account? In a savings account with a building society?

EachPenny

NewUser999 wrote: »

Hi,

No idea how to start this.....

OK. I have no bank account and haven't had one for 15 years or more of my adult life. I have so ridiculously under the radar it is worth a book deal about...

Now I want/need one. It is getting harder and harder to pay in cash for things, the final straw is to not being able to pay cash into my landlords bank account for my rent.

In the past I got in a mess and abandoned my bank account.
Life has been up and down but now I am earning very good money (paid into a relatives account) and I want my own bank (or other) account.
I have significant "savings" 50k or so. Will hopefully at least double that in the next year or so I can buy a flat outright. (I am not planning for buying somewhere down south)
It is all above board (I am no drug smuggler or hitman or something) in fact I am IT consultant.

I want:
I want credit protection as a bank (what is that 85k.) -this has been difficult for me to work out for "non-bank" account that I likely desire.
Debit card.
able to do Direct debits.
Bank transfers to other banks.
Be able to have free ATM withdrawals.

Want I don't want
Any credit checks - I have zero history at all.
I don't want to go into a bank and ask for a basic account.
(E.G. I want to create an "account" online as much as possible.)

What I don't care about:
Monthly fees
If it costs 10 or 20 a month that is fine.

You might not want credit checks, but its an account feature you are not likely to be able to avoid.

The problem is that although it appears you've turned your life around, there are aspects of your post which suggest otherwise. Your first move into reestablishing banking facilities is going to require greater openness and honesty than you appear willing to accept.

The account you 'abandoned' won't just have vanished it is still likely to have effects on your future ability to get bank accounts. If you want help on here you will need to give more information about that account - for example how long ago did you last use it, what was the balance, were bills still being paid from it, why weren't the bank able to contact you?

If you don't want credit checks and you don't want to show your face in a bank then frankly your behaviour is going to make people wonder about you - banks have a duty to know their customer so if you exhibit behaviours like a "drug smuggler or hitman or something" then this is what they are going to think.

colsten

There is no need to put the words bank or savings in quotes. Not sure what you mean by a non-bank account. You won't get away without credit checks. There is also no earthly reason why you should be paying any monthly fee for the very basic services you say you require.

You can apply online for literally all current accounts, including all the basic ones. Though if you have no credit history and are not found on the Electoral Register, you might get asked to provide additional proof of ID, either in Branch or sending it by post. This varies from bank to bank, and is detailed on the respective banks' websites.

There is a lot of information about bank accounts on the main MSE website. This includes info about the £85K FSCS protection.

colsten

NewUser999 wrote: »

I have zero history at all.

How do you know you are not on the records of one or all credit reference agencies? Have you checked with them?

Flobberchops

Credit Reference Agency checks are unavoidable when opening an account, whether online or in branch. Cheer up though - unless you've committed some fairly serious financial misdeeds in the past you should qualify for at least a basic account, which will allow you to have a debit card, set up DDs, and so on.

Walk into a bank and ask for an account, what's the worst that can happen?

mrmajika

NewUser999 wrote: »

I have zero history at all.

As much as you'd like to think this to be true, it would appear, from what you say, that this is not the case.

NewUser999 wrote: »

In the past I got in a mess and abandoned my bank account.

The FSCS covers £85k worth of deposits in any UK regulated bank. This is protected by the government and covers your cash should the bank or financial institution be unable to meet its commitments.

Any regular bank account will offer all the facilities your require. I think you will struggle NOT to be credit checked.

badger09

colsten wrote: »

How do you know you are not on the records of one or all credit reference agencies? Have you checked with them?

This should be your first action. Get reports from all 3 CRAs.

Are you on the Electoral Roll? If not, get yourself registered.

EachPenny

badger09 wrote: »

This should be your first action. Get reports from all 3 CRAs.

I guess if the OP has been "ridiculously under the radar" then it might be a challenge just establishing an ability to access the information the CRA's hold.

How will he/she be able to prove who they are in order to gain access if they haven't existed for up to 15 years?

One of the CRA's wouldn't let me register for free reports recently because I couldn't say which month of last year I'd opened a current account with a certain bank (I needed to ask them which current account with the certain bank )

The OP is going to experience all kinds of suspicions - the fact they've been working and renting all this time while 'under the radar' sounds like there is a lot more to this story.

NewUser999

Thanks so much for the replies so far.

Let me try and fill in the missing details.
The reason I say bank accounts in quotes is I was looking at stuff like cashplus

And others that pop up in google when searching for no credit check bank account.

They say they are "alternative" to bank accounts and I am not sure of the correct terminology to describe such accounts.


My money is a relatives account that I use (I have the current account debit card.) They just use their joint account.

So it use it as my own (No idea if that is illegal or anything) but don't do any direct debits etc. I just take out cash and debit card in shops.


Now for large chunks of the 15+ years. I was under the under but in recent years I am on the electoral role and have a passport now. And I do have bills in my name too. I get paye through an agency for any clients I work for. Currently the client is in other country (All remote computer work).

I suppose I should also be clear when a got in a mess I had a small overdraft at the time. So in theory I owe the bank money. I say in theory because I have heard people "write off debt" after x years.


I suppose embarrassment and the fact that there will be crazy suspicion (That is understandable)
Has put me off and I don't really want to see people face to face. And I gave heard to ask for basic bank account can be pain to even get.


Yeah I started looking at credit ratings agencies before but they ask about your current account etc and wants dates like has been stated similar for when I looked before setting up a standard bank account. Not sure what to answer.....


I had idea of starting to get one of these non bank bank accounts (but wanted to know ones that have money protection) and slowly build up a credit rating. And moving to a proper account.

Shakin_Steve

For gods sake, get a grip. You're acting like you're a secret agent or something. Apply online for a bank account and see what they ask for, you seem to have enough for them to go on.
You will have great difficulty buying a flat with money that's stashed in someone else's account, too. Solicitors get quite twitchy over things like that.