Visa DEBIT for those with bad credit! =)

jmckay86

I find this really offensive, is there really any need for it?

If you go to:

https://secure.currentaccounts.lloydstsb.com/ltsbaccountopening/Wizard.aspx?w=LTSB&account=classic&urn=AL10001365400

You will see on the right hand side:

Applying over the phone
Call us on 0800 085 9174 *.

This is the number I phoned, I presume they tried to get me a CC but when it didn't go through they offered me the cash account.
You shouldn't make accusations without being able to evidence your claim mate.

JM

Edinburghlass_2

It is offensive and I have reported the post, please try and ignore and thank you for your input regarding the Lloyds account.

Barney_McGrew

jmckay86 wrote: »

Hi Guys,

Sorry if my first comment wasn't detailed enough.

Firstly, I'd like to say the information barclay guy has posted is incorrect.
I phoned up TSB to try and open a current account, they informed me that the only account they could offer me was the basic CASH account - which is what Barclay guy has posted the link for. As I said in my first comment, the bank have not updated this informaiton.

After being accepted over the phone for the basic cash account and being told I would get a visa debit card with it, I went into the branch and the manager who was dealing with it initally told me that it would not be a debit card and simply a cash card as stated on the website, but then she realised the computer said something else! DEBIT. She told me intitally that the debit card would soon be standard for this type of account but hadn't been implemented yet, but it now has!

IF you apply for the basic cash account you get a VISA DEBIT card, I can confirm this because I received mine today You can take £300 out, use it in as many shops as you like for as much as you like (as long as you have enough money in your account to cover it), for DD, SO etc.

As for my credit history? Two outstanding defaults, one default statisfied and a whole load of late payments!

Hope this helps - sorry if some of it doesn't make sense but i'm just in from work!!

JM

What kind of questions do they ask u over the phone? I think this is the kind of account im looking for. I take it it works like any other debit card, can withdraw cash from any cash machine (providinf funds in account obviously), can use it on the high street and to shop online etc.

lindsaygalaxy

I applied for a current account online, when they came back and said that I couldnt have one, but could have a basic one(with visa debit card).

Got into branch and then had problems with have i ever applied for credit at another address! I was like no, and after my address from birth to 18yrs old they accepted me! But when I become BR im sure they will take it away again:(

lindsaygalaxy

BTW, credit history - 6 defaults, am near BR, and havent paid my debts at all in the last few months!

Bosie

lindsaygalaxy wrote: »

BTW, credit history - 6 defaults, am near BR, and havent paid my debts at all in the last few months!

Phew, I have no debts and got a very polite No!!!
Bo x

Mr_LoL

Well I opened my LLoyds basic account in April. Yesterday, I phoned up to upgrade to a silver account and that went through fine even though my credit is really bad. So a new debit card and cheque book is on its way to me. Make sure you fund your account with your wages and leave money left over at the end of each month.

PaulW922

Just to clarify a couple of points:

Cash account is the name that Lloyds gives to it's basic account. It does now come with a full Visa debit card. Lloyds no longer issue Electron cards. The type of Visa debit card Lloyds offers on these accounts still authorises each transaction just like an Electron card. This functionality is built into the chip on the card as opposed to being a requirement of the card scheme. It does mean that on occasions holders of this card may find it rejected for no obvious reason where the transaction is off line or the kit does not recognise the card type. The most likely situation would be at a railway station as they tend to bulk clear their card transactions. This should be less and less of a problem as card systems get updated and it is a fault of the merchant's systems, not a card scheme limitation. It is also likely that the card will not have raised numbers on it so there can be no manual processing (the old paper vouchers). The same issues would also apply to the Yorkshire/Clydesdale Bank basic account Maestro debit card. It is a full Maestro card (not Solo) but has the same limitation built into the chip.

Sadly Lloyds does currently limit use of ATMs to it's own network - ie not Link machines, unless someone can say otherwise.

Finally - contrary to some comments above, no bank has to offer any kind of account at all - whether full current status, basic/cash or just cash card. They can accept and decline any customers they wish. Most of the big banks agreed to offer basic accounts under pressure from the Government who threatened to set up their own bank if the commercial ones did not cooperate. (This was when Giros and pension books were withdrawn). The acceptance criteria varies from bank to bank - not everyone will get a basic account at every bank.

If you want a full debit card and cannot get a full current account Lloyds is a good choice, as is Yorkshire/Clydesdale Bank Readycash account. Barclays also offers a similar Visa debit card to the above Lloyds one but not as part of their basic cashcard account package. You still need to qualify for a full current account. The card would probably be offered to customers whose profile did not get them a cheque guarantee card. Maybe someone with a barclays account can help with that.?

lindsaygalaxy

My lloyds basic account visa debit card has raised numbers on the card. But the above is correct, can noly withdraw money from lloyds machines or those with its symbol.

Also the limit is now £300 a day, but that seems to include internet payments.

PaulW922

lindsaygalaxy wrote: »

My lloyds basic account visa debit card has raised numbers on the card.

I stand corrected.