Barclays or nationwide account?

mummytofour

Hi,
DH has no bank account due to current situation (DMP under way) But has just received a cheque in his name. So I was going to send him to open a bank account in the next couple of days ( not sure he even has any ID to be honest!). Which account is going to be the most easy to set up?
Thank you.

tigerfeet2006

I would go for the Co-op cashminder account. Nationwide at the moment seem to have closed the gate on their account for BR's.

Barclays don't offer the facility's that Co-op do.


Co-op Cashminder account

Good points -

• Comes with a Visa Electron card, which can be used online, high street shops, for bill payments & at Link machines.
• You can also set up direct debits on the account, & it has internet banking.
• You can pay money into it at the Post Office, as well as at Co-op branches.

Bad points -

• Can take anything from 1-4 weeks to set the account up, depending on the amount of applications they've got.
• They don't seem to have publicised it, but they seem to operate a "3 strikes & you're out" rule (see this post), so you have to be prepared to keep a close eye on your account otherwise you might lose it.
• The internet banking isn't always up-to-date at the close of business, so your online balance may not be a true reflection of what's actually in the account.
• Not all branches are open on weekends.
• There aren't many branches.

Barclays Bank Cash Card Account

Good points -

• You can withdraw money from the post office, Barclays or Woolwich cash machines.
• Transfer money to other accounts by phone 24 hours a day.
• Can pay bills by direct debit or standing order.

Bad points -

• Only comes with a cash card.
• No internet banking.

http://www.co-operativebank.co.uk/servlet/Satellite?cid=1170748476664&pagename=CB/Page/tplStandard&c=Page
You can also pay money into your account at a post office if you don't have a branch nearby.

mummytofour

Hi,
Thanks, we are on a DMP but still same situation. Dont think co-op is a good idea as we owe money to smile! Ah I hate money and cars!

tigerfeet2006

Ah! I see. That puts a diferent slant on it. Looking at what is available between the two I would probably go to Nationwide.

Nationwide Flex Account

Good points -

• Can be set up virtually on the spot in the branch
• Can be used for bill payments by direct debit
• Has internet banking
• Some Nationwide branches are open on weekends, so you can pay cash in over the counter if you wish.
• You can set up several e-savings accounts allocated to specific things you want to save for, & these get a better rate of interest than the Flex Account itself.

Bad points -

• Only comes with a cash card.
• It is difficult to get the account upgraded further down the line so that you can have a debit card. It's been said that it's easier to open another Flex account & ask for a debit card at that stage, than to try to upgrade an account that was opened with bankruptcy in the application.

pippin49

The most recommended one seems to be the Coop Bank. It is in the sticky thread. I would also recommend Natwest step account. However if he has no ID. It would be very hard to open a UK bank account. If you have an account it may be possible to add him as a joint account. Don't think they do id checks then.

tigerfeet2006

ID wise he will need something with his photo on and a recent utility bill.

Though I did my Co-op over the phone and they did their checks and I didn't need to send ID.

Gaz1971

Doesnt the Post Office offer a basic current account that requires no credit check?

tigerfeet2006

I thought that was just for benefits. Could be wrong, will go and check.

EDIT: Nope I was wrong. Here you go
http://www.postoffice.co.uk/portal/po/jump1?catId=19400181&mediaId=19700174

mummytofour

Hi thanks for the help. I tried the PO and they are pretty useless none of the staff seemed to have any idea what I was talking about ( by the way that link was to banking services but thanks anyway) I have managed to find a tax credit award notice and his passport I will try with those. I cant sign him up to my account as my accoun was a joint account I have had to take him off as it is with natwest ( natwest and mint are friends and dh has cc going on DMP with mint)

tigerfeet2006

Sorry about the link.

When I rang up Co-op to open an account, after they had done their checks the didn't require ID and we got our account set up with no problems.

But I don't see you will have a problem with those ID.

mummytofour

Hi,
Just to let you know the DH now has a bank account!!! with nationwide, the lady told us that nationwide are nolonger B/R friendly. We are on DMP and dh got the flexi account with no debit card.