New Bank Account req. BAD credit history

giddykipper

Hiya

Can someone please tell me the best banks to open a basic current account with if you have a reeeaaallly bad credit history.

I'm with Smile but would like another independant one so that I can better sort my finances. However I'm in a DMP and my credit history is shot to threads.

Thanks in advance for any suggestions.

Jo x

ciarasdreams

I was given a basic bank account from Abbey at the point where I was hiding from a string of debt collectors. They did not do a credit search thankfully because that would have been terrifying but they did require proof of address and identity verification because I was not on the electoral roll. The account comes with a very basic ATM card and use of online banking but not usually branch services. I found it really helpful when I was trying to get back in control of my finances because I was forced to work on a cash only basis which helped me out lots with budgeting.

fermi

The FSA's official list of basic bank accounts (no credit check) is available in this document:

http://www.moneymadeclear.fsa.gov.uk/pdfs/bank_accounts.pdf

Copy of table on page 4:

giddykipper

Thanks very much, that's really helpful.

Jo x

HHH_2

In a similar situation I found it very difficult to open even a basic bank account until I found the lovely Co-op. They are an ethical bank too.

Burlesque_Babe

The Natwest basic account is very easy to open - takes a couple of minutes to apply online and then you are sent the paperwork.

Scarlett.1974

keren29 wrote: »

The Natwest basic account is very easy to open - takes a couple of minutes to apply online and then you are sent the paperwork.

I agree with this. I've recently opened our new accounts with Nat West and it's all been very easy and straight-forward. I have 2 Step accounts and a savings account. The on-line banking takes a bit of getting used to (imo, I find it a bit more 'fiddly' than Lloyds), but it's a small price to pay

giddykipper

Are Nat West linked with RBS as I have a dmp involving the RBS!

Smile are part of Co Op an I already have an account with them - would I be able to get another?

Cheers
Jo x

misspoppy

Hi try to form a short list of people not connected with your curent debts, then look closely at what they offer because I wouldn't recomend the Lloyds basic account, the online facility only lets you look at your statement and manage DD's you can't do transfers, and you can only use the cash card in their own cash points.

chipbeck

HHH wrote: »

In a similar situation I found it very difficult to open even a basic bank account until I found the lovely Co-op. They are an ethical bank too.

Lovely co op quoted experian credit check and knocked me back. I must really be in the do do. Only wanted the basic no card account.

fermi

chipbeck wrote: »

Lovely co op quoted experian credit check and knocked me back. I must really be in the do do. Only wanted the basic no card account.

Did you make sure that you applied for the basic account "Cashminder".

Co-op will give that account to you if you are bankrupt, and you can't fail a credit check much worse than that.:o

Co-op have a habit of putting your application forward for the next account up which is credit checked unless you are very specific in what you request.

The other possibility is that you are missing from the electoral roll according to Experian, or that some sort of anti-fraud flag is erroneously showing on your report.