Can I open savings account despite CIFAS market?

MerrieWi

My 17 yr old son got into a dispute about something he sold and, despite having refunded the money to settle it has now acquired a CIFAS marker as the buyer complained to his bank. His bank account has been closed and he has been refused a new one. We are going through the CIFAS complaints process to challenge it but in the meantime he is desperate for an account for his wages to be paid. Has anybody had any success opening an instant access savings account for this purpose? If so, where? TIA

cloud_dog

Moderator I think this would get more traction on the Budgeting & Bank Accounts board.

[Deleted User]

Have you read this
https://www.thisismoney.co.uk/money/saving/article-6367319/Can-open-new-bank-account-shut-fraud.html
Especially about opening a basic not a standard bank account (and no, I never knew there was such a distinction either)

fiisch

As part of the sign-up agreement, organisations may not use CIFAS markers for auto-decision making. Therefore, it's probably a case of trying it and see...

They can "refer" the application, and ask for further details, but if it is in dispute and there are valid grounds for doing so, theoretically a bank should have not reject the application on those grounds alone.