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    • eskbanker
    • By eskbanker 11th Aug 18, 9:49 AM
    • 8,738 Posts
    • 9,993 Thanks
    eskbanker
    My bank has just blocked my credit card and removed my credit line. Had it years and never missed a beat. I want to close the account now so they can shove it. However i cannot even open a basic account with anyone else at the moment and I applied maybe 7 or 8 times which has clearly spooked my credit file.
    Originally posted by money08
    Is there some sort of CIFAS fraud marker against you perhaps? It's unusual not to be able to open any sort of basic account, so apart from checking all three of your credit files you might also wish to establish if CIFAS have anything on you, via https://www.cifas.org.uk/contact-us/subject-access-request. Did your bank give you 60 days notice of their plan to withdraw facilities or was it immediate suspension/termination?

    I need a prepaid card into which my benefits can be paid and which can do at least standing orders, but maybe DDs too. Zero fees if possible and obviously reliable and trustworthy. Any ideas?

    Another issue I have is I get a small regular payment (in s) from USA but for this I need and IBAN and Swift code for my account but it would seems prepaids dont do this, so any ideas who would?
    Originally posted by money08
    Sorry, I don't know of any such cards that are that close to being a fully-functional bank account.

    My idea is to eliminate my address and previous credit file connections as I am moving soon. So get a prepaid card at my new address that has no connections to previous accounts because I wont be taking any with me. Build up a credit file again paying the various bills like water etc and then open a bank account 6 mths or more down the line without dragging all my old baggage around with me. My current file shows addresses going back over a decade!!
    Originally posted by money08
    I'd forget any notion of being able to reinvent yourself in that way - any applications for credit (including utilities) will typically ask for previous addresses over three years, so, unless you plan on acting fraudulently by deliberately omitting facts, you'll have to keep the continuity going.
    • money08
    • By money08 11th Aug 18, 11:02 AM
    • 14 Posts
    • 12 Thanks
    money08
    Is there some sort of CIFAS fraud marker against you perhaps? It's unusual not to be able to open any sort of basic account, so apart from checking all three of your credit files you might also wish to establish if CIFAS have anything on you, via https://www.cifas.org.uk/contact-us/subject-access-request. Did your bank give you 60 days notice of their plan to withdraw facilities or was it immediate suspension/termination?




    Sorry, I don't know of any such cards that are that close to being a fully-functional bank account.

    I'd forget any notion of being able to reinvent yourself in that way - any applications for credit (including utilities) will typically ask for previous addresses over three years, so, unless you plan on acting fraudulently by deliberately omitting facts, you'll have to keep the continuity going.
    Originally posted by eskbanker
    No they have done it before as well in a seemingly random fashion. I use the card all the time as well so its hardly dormant. No CIFAS issues.


    If neccessary I will just say I lived abroad, which i have done now and again, or just wait the three years but using a prepaid card. I hate the banks anyway and how we have become chained to them and get nothing for our savings etc. Tragic we cant just use cash these days and to hell with them.
    • eDicky
    • By eDicky 12th Aug 18, 5:22 AM
    • 4,016 Posts
    • 2,149 Thanks
    eDicky
    No they have done it before as well in a seemingly random fashion. I use the card all the time as well so its hardly dormant. No CIFAS issues.
    Originally posted by money08
    There's a possible solution for your incoming USD payments, but I hesitate because you are likely to run into problems if you cannot identify and explain the behaviour that now prevents you from even opening any basic bank account.

    Meanwhile there's Loot : https://loot.io
    Or Cashplus - there may still be a link to get it without monthly fees on moneysupermarket.com
    • Anthorn
    • By Anthorn 12th Aug 18, 10:03 AM
    • 4,094 Posts
    • 1,114 Thanks
    Anthorn
    I need a prepaid card into which my benefits can be paid and which can do at least standing orders, but maybe DDs too. Zero fees if possible and obviously reliable and trustworthy. Any ideas?
    Originally posted by money08
    Several prepaid cards are about as close as it gets to a full current account with an account number and sort code, standing orders and direct debits but not for free and fees vary. As an example try Monese and The Change Account. The latter is described as a transactional account and the main difference from a savings or deposit account is that all funds are regarded as liquid/cash, about the same as a current account. Be sure to read the fees table. Others to try are Cashplus, Acorn, Eccount.
    http://www.monese.com
    https://www.thechangeaccount.com


    Just to note that the last savings account which also allowed standing orders and direct debits, the Coventry Building Society MoneyManager account has closed down. So virtually the only alternative is a basic bank account and that's what you should try first.
    Last edited by Anthorn; 12-08-2018 at 10:49 AM.
    • money08
    • By money08 12th Aug 18, 3:41 PM
    • 14 Posts
    • 12 Thanks
    money08
    There's a possible solution for your incoming USD payments, but I hesitate because you are likely to run into problems if you cannot identify and explain the behaviour that now prevents you from even opening any basic bank account.

    Meanwhile there's Loot : https://loot.io
    Or Cashplus - there may still be a link to get it without monthly fees on moneysupermarket.com
    Originally posted by eDicky


    Loot looks well dodgy and I don't want an app based account(is the Loot paper still going?)


    I don't get the US payments in dollars they come in s. Its not a problem as long as the prepaid cards provide an IBAN/Swift facility.
    • money08
    • By money08 12th Aug 18, 3:52 PM
    • 14 Posts
    • 12 Thanks
    money08
    Several prepaid cards are about as close as it gets to a full current account with an account number and sort code, standing orders and direct debits but not for free and fees vary. As an example try Monese and The Change Account. The latter is described as a transactional account and the main difference from a savings or deposit account is that all funds are regarded as liquid/cash, about the same as a current account. Be sure to read the fees table. Others to try are Cashplus, Acorn, Eccount.
    http://www.monese.com
    https://www.thechangeaccount.com
    Originally posted by Anthorn

    That CHANGEACCOUNT looks good though I wonder if anyone has actually been using it or monese etc with success? and more importantly without issues because your money or transactions don't seem very safe if there are any disputes. I wonder how they will do DDs but not SOs?
    • money08
    • By money08 28th Aug 18, 10:06 AM
    • 14 Posts
    • 12 Thanks
    money08
    Do prepaid cards show up on credit file?
    Do prepaid cards show up on credit file? Shirley those who offer direct debits must show up if you use DDs?
    • Gary_Dexter
    • By Gary_Dexter 28th Aug 18, 11:59 AM
    • 2,749 Posts
    • 1,562 Thanks
    Gary_Dexter
    Do prepaid cards show up on credit file? Shirley those who offer direct debits must show up if you use DDs?
    Originally posted by money08
    No they don't.

    And why would a DD mean it must show?
    • Anthorn
    • By Anthorn 28th Aug 18, 12:03 PM
    • 4,094 Posts
    • 1,114 Thanks
    Anthorn
    That CHANGEACCOUNT looks good though I wonder if anyone has actually been using it or monese etc with success? and more importantly without issues because your money or transactions don't seem very safe if there are any disputes. I wonder how they will do DDs but not SOs?
    Originally posted by money08
    Re. The Change Account which is the only prepaid bank account I have experience of through a close relative, both Direct Debits and Standing Orders come under the category of "Scheduled Payments". The debit card itself is issued by and therefore managed by British Bank, R. Raphael & Sons plc which is fully authorised by PRA and regulated by FCA. I haven't heard about any problem but due to the state of such things throughout British Banking I wouldn't be surprised if it did have a problem sooner or later.
    • SnowTiger
    • By SnowTiger 28th Aug 18, 3:40 PM
    • 3,490 Posts
    • 2,456 Thanks
    SnowTiger
    Do prepaid cards show up on credit file? Shirley those who offer direct debits must show up if you use DDs?
    Originally posted by money08
    Prepaid cards don't show up on credit files. The clues are in the names: prepaid card and credit file.

    If you've pre-paid there isn't any credit involved.

    As for direct debits; if there isn't money in the pre-paid account, a direct debit won't get paid.

    The likes of LOQBOX and CashPlus offer options that, effectively, allow punters to buying positive reporting to CRAs by pretending to lend money.
    • Anthorn
    • By Anthorn 30th Sep 18, 9:50 PM
    • 4,094 Posts
    • 1,114 Thanks
    Anthorn
    As for direct debits; if there isn't money in the pre-paid account, a direct debit won't get paid.
    Originally posted by SnowTiger
    True but not strictly so depending on the card: Cashplus offers the iDraft which is similar to an overdraft but I have seen it referred to as a PayDay loan. Watch out for arm and a leg fees though:
    Representative example: Credit amount: 100 for 12 months, 0% interest, 75p per day flat usage fee, capped at 10 per monthly statement period, plus a one off arrangement fee of 20. Total amount payable: 240. Representative 230% APR.
    https://www.cashplus.com/borrowing-money
    • sarahemmm
    • By sarahemmm 4th Oct 18, 3:46 PM
    • 105 Posts
    • 90 Thanks
    sarahemmm
    Best card to give as a gift?
    I want to give my brother some spending money when he visits from NZ. Thinking a prepaid card is probably the best option, but which are suitable, can anyone advise?
    • SnowTiger
    • By SnowTiger 5th Oct 18, 11:37 PM
    • 3,490 Posts
    • 2,456 Thanks
    SnowTiger
    I want to give my brother some spending money when he visits from NZ. Thinking a prepaid card is probably the best option, but which are suitable, can anyone advise?
    Originally posted by sarahemmm
    I saw Boots is flogging pre-paid cards but there was quite a hefty markup on them.

    Prepaid cards such as Loot, Pockit, Arro, U, Revolut, etc require punters to pass an ID check. Coming from New Zealand, I don't think your brother wold be able to do that.

    Personally, I wouldn't have any qualms about lending a close family member a pre-paid card register in my name; or even a card for one of my full bank accounts.
    • sarahemmm
    • By sarahemmm 6th Oct 18, 12:00 PM
    • 105 Posts
    • 90 Thanks
    sarahemmm
    Personally, I wouldn't have any qualms about lending a close family member a pre-paid card register in my name; or even a card for one of my full bank accounts.
    Originally posted by SnowTiger
    I'd have no problem with that, but wasn't sure if it might create problems for him using the card. Would I need to disclose that, do you think? And which of the cards you mention would you suggest (or are they all good?)
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