Anyone got a Co-op Cashminder Account?

jsmith9156 · 3 June 2007 at 10:56AM

I applied for a Co-operative Bank Cashminder account a few days ago over the phone. The leaflet that was sent to me suggested that there wouldn't be a credit check, But after going through the application process the lady said that it had been "Referred".

I was under the impression that everybody was accepted for this account.. Am I wrong to think this?!

Cheers

The other James

chika · 3 June 2007 at 11:04AM

I've got one and it was initially reffered but the man in the bank said that everyone gets one but they may do an extra check on you as a security caution. You will get your account but it just might take a little longer.

Tori_Bellatrix · 3 June 2007 at 1:10PM

Yes, they do credit check this account but only to check your financial situation. I don't think they use it to score the application as such like a full current account.

Usually, they will only decline if an applicant has a record of fraud.

christhesparky_2 · 3 June 2007 at 8:59PM

i got one, though i was initially referred, was told to ring back 2 days later, then they told me it had gone through fine!!
By the sounds of it the refer everyone!!!!

desperate_mum_3 · 3 June 2007 at 9:13PM

I went bankrupt in April but before i did i phoned and asked if i could have an a/c knowing what i was going to do and they said yes ... no problem ... i have one now it took about 3 weeks to get everything through but i will warn you it isn't a quick service bank a/c as in they are slow at deducting funds and don't up date a/c daily so you may find it annoying . Look at threads on the living with bankruptcy sites quite a bit on there about coop a/c

jsmith9156 · 3 June 2007 at 11:07PM

Thankyou everyone for your replies, I'll ring them in a few days and see what they say.

The other James

Fedz · 4 June 2007 at 1:25PM

christhesparky wrote: »

By the sounds of it the refer everyone!!!!

All applications are indeed referred upon application.

One word of warning with the Co-op Cashminder account is that any debit card transactions don't show in your online control panel.

The balance and available balance stay the same despite transaction until it's actually debited. So you have to remember what you've used on the debit card then deduct it yourself.

The Co-op is the only bank I have experience of that does this.

This is very annoying if you (like me) rely on internet banking.

Most others reflect any debit card usage on your available balance amost instantly

jsmith9156 · 4 June 2007 at 10:23PM

Fedz wrote: »

All applications are indeed referred upon application.

One word of warning with the Co-op Cashminder account is that any debit card transactions don't show in your online control panel.

The balance and available balance stay the same despite transaction until it's actually debited. So you have to remember what you've used on the debit card then deduct it yourself.

The Co-op is the only bank I have experience of that does this.

This is very annoying if you (like me) rely on internet banking.

Most others reflect any debit card usage on your available balance amost instantly

Thanks for the warning.
I wonder if this is unique to the Cashminder account as when I had a "normal" account with the Co-op and an account with Smile the online banking updated almost instantly..

Yet on the flip side, I've just read on the BR board that if you pay cash in at the Post Office it shows within minutes online. Strange how they work! :rotfl:

The other James

Fedz · 5 June 2007 at 8:51AM

I think it is specific to Cashminder.

I asked co-op about it and they said it's 'normal' for banks not to show pending debit card transactions in the available balance online.

I explained I have several current accounts with various different banks and in all honesty The Co-op (cashminder) is the only one that does this.

They suggested I check my balance everytime by calling armchair banking and or the cashpoint :eek:

I (in return) suggested you close my account

Quietgirl · 5 June 2007 at 12:05PM

I have this account have had it for 5 years from the day i went bankcrupt. Have kept it in good order all that time but they won't upgrade me or give me a savings account even though interest rates are crap. I agree with other posters about debit card transactions not showing up straight away but i use microsoft money for accounting & it keeps me straight.

jsmith9156 · 5 June 2007 at 10:08PM

I'm being put off by this account more and more LOL!

Does anyone know of another basic account that comes with a Electron Card (apart from The Halifax)??

Thanks

The other James

Anyone got a Co-op Cashminder Account?

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free