What is the difference between basic and current account

Ycartune

cymruchris said:

You don't build a credit score as I've previously mentioned - you build a positive credit history. The score is only ever seen by you - no bank - no building society - no insurance company - nobody will ever see that score except you. It's a marketing gimmick. 

If you are confident that the CIFAS marker has been removed - and there are no other negatives on your history file - then there should be nothing stopping you from applying with any bank, as you'll be in the same position as pretty much every other 17 year old.

If your previous issue was with a particular bank, then don't apply for that bank or any other bank within their group. So for example, if your previous problem was with Lloyds bank - you wouldn't apply for Halifax or Bank of Scotland either - as they're all the same company.

Hi I really appreciate you comment thanks, I have one more question if you don’t Mind what banks are the below banks in what group , as I applied with them when I cifas marker so I want to know what banks I can apply with thanks 

Monzo 

Monese

NatWest 

Co operative bank 

cymruchris

Monzo aren't part of anyone else.

Monese aren't part of anyone else.

Natwest is part of a larger group : https://www.natwestgroup.com/who-we-are/our-brands.html

Co-op also run Smile.

So any other bank should be fine assuming your marker has been removed, and there are no other black marks in your history that you've not mentioned. 

Daliah

Ycartune said:

cymruchris said:

You don't build a credit score as I've previously mentioned - you build a positive credit history. The score is only ever seen by you - no bank - no building society - no insurance company - nobody will ever see that score except you. It's a marketing gimmick. 

If you are confident that the CIFAS marker has been removed - and there are no other negatives on your history file - then there should be nothing stopping you from applying with any bank, as you'll be in the same position as pretty much every other 17 year old.

If your previous issue was with a particular bank, then don't apply for that bank or any other bank within their group. So for example, if your previous problem was with Lloyds bank - you wouldn't apply for Halifax or Bank of Scotland either - as they're all the same company.

Hi I really appreciate you comment thanks, I have one more question if you don’t Mind what banks are the below banks in what group , as I applied with them when I cifas marker so I want to know what banks I can apply with thanks 

Monzo 

Monese

NatWest 

Co operative bank 

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Note that Monese is not a bank, i.e. has no FSCS protection

DCFC79

Monese is ok but I only use it for spending in euros.

Oh and remember no one can see your score.

Daliah

DCFC79 said:

Monese is ok but I only use it for spending in euros.

Even if it is ok for you, it still is not a bank.

Rob5342

A lot of it just seems to be branding - I can't see any difference between my Monzo account with no overdraft and a Nationwide FlexBasic account.

Daliah

I think with the FlexBasic you also get Branch access. Whether this matters is a different question.