Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Aramil
    • By Aramil 3rd May 18, 11:05 AM
    • 3Posts
    • 1Thanks
    Aramil
    Halifax - EasyCash forced upgrade - where to now?
    • #1
    • 3rd May 18, 11:05 AM
    Halifax - EasyCash forced upgrade - where to now? 3rd May 18 at 11:05 AM
    Hi,

    So some history (many many...) years ago I opened A Halifax EasyCash account for the simple reasons that it was a basic bank account, with no overdraft options, no complex unwanted rewards or fees. I have one direct debit (mobile (fixed)) and everything else I manage myself (because I prefer to manage my money myself), I also have a Credit Card with them (which has had it limit increased several times, but is always paid in full (back to £0.00) & on time). I have a Good credit rating with no issues.

    This month I receive a letter saying that as of the end of June they are "upgrading....." all EasyCash accounts to Rewards Accounts..

    So I call them (shout "human being" to the menu system until I am put through to an advisor(a human being)).

    After some time disscussing the fact I do not want a rerwards account (because its a rewards account and not a basic account) I am advised (told....) that I have no choice, and they will not offer me a basic account instead.
    The conversation ended with me being told I should take my money elsewhere......

    So does any Bank do a basic account you can actually apply for?

    And should I look to take my CC business to a CC company? (NB. not interested in rewards/points/etc, only used to get CC protection on purchases).

    */end mild rant*
    Last edited by Aramil; 03-05-2018 at 11:16 AM.
Page 2
    • AirlieBird
    • By AirlieBird 7th May 18, 3:26 PM
    • 1,039 Posts
    • 849 Thanks
    AirlieBird
    The question(s) are:

    Still unanswered.
    Originally posted by Consumerist
    I thought the questions were

    So does any Bank do a basic account you can actually apply for?

    And should I look to take my CC business to a CC company?
    Originally posted by Aramil
    I must have missed the questions in the OP's post you say are still unanswered.
    Did you really mean to put loose?
    Lose: no longer possess, not to retain, unable to find
    Loose: not firmly or tightly fixed in place
    • ValiantSon
    • By ValiantSon 7th May 18, 6:32 PM
    • 2,537 Posts
    • 2,511 Thanks
    ValiantSon
    The question(s) are:

    Still unanswered.

    Like yourself, I do tire of reading all the ignorant drivel on these forums making pitiful excuses for banking practices.
    Originally posted by Consumerist
    Yes, I have answered you, but you don't like the answer.

    I cannot begin to express just how tedious talking to you is. Nonetheless, as you clearly have the bit between your teeth over the evil banks then I will indulge you one more time (even though you haven't provided a shred of evidence to support your ludicrous conspiracy theories).

    Why won't banks generally allow customers to open accounts which simply will not make payments if there is not enough money in the account to fund them?
    Originally posted by Consumerist
    Firstly, I am not a representative of any banks or the British Bankers' Association, so my comments are merely my own views and I cannot give you a definitive answer.

    Customers are responsible for managing their own finances and should not spend more than they have if they wish to avoid charges. The banks actually help customers by honouring direct debit payments that would otherwise bounce. If they didn't do this then the customer would face a late payment fee and potential harm to their credit file. The banks make it perfectly clear that this is how they will operate the account and customers sign up to those terms. Of course, a customer is perfectly free to cancel a direct debit at any point, and could do so if they knew that they lacked the necessary funds to honour it. This is an area in which the customer has full control, and blaming the banks for customers managing their finances poorly is ridiculous.

    Why are banks refusing to open "basic" current accounts unless they feel they are constrained by regulation or codes of practice to do so?
    Originally posted by Consumerist
    Why should they? I've already explained to you that they are a business and they are free to offer the kinds of products that they choose. Basic bank accounts were brought in as way of ensuring that people who could not otherwise get a current account would have access to one. They are not, and never were, intended as an option for everyone. Funnily enough, the banks do actually need to make money, or else they go out of business. That does mean that banks will make money from overdrafts, but it is perfectly possible to apply for an arranged overdraft, which comes with lower costs than an unarranged overdraft. You pay more for unarranged overdrafts because you have taken the liberty of expecting the bank to honour your transactions using their money, without having asked their permission first.

    I know that you won't like these answers, but that's life. I still maintain that your diatribe was ludicrous and ill-informed, and you still haven't given any supporting evidence of an apparent conspiracy amongst banks.
    • Skippy13
    • By Skippy13 8th May 18, 9:18 PM
    • 142 Posts
    • 51 Thanks
    Skippy13
    Don't become ill or die with a standard bank account.
    Originally posted by Consumerist
    What on earth do you mean by that?
    • ValiantSon
    • By ValiantSon 8th May 18, 9:24 PM
    • 2,537 Posts
    • 2,511 Thanks
    ValiantSon
    What on earth do you mean by that?
    Originally posted by Skippy13


    Don't set him off again!
    • Skippy13
    • By Skippy13 8th May 18, 9:27 PM
    • 142 Posts
    • 51 Thanks
    Skippy13


    Don't set him off again!
    Originally posted by ValiantSon
    Oh no, I'm sorry, I posted that without reading to the end of the thread!

    Is there a delete button?!
    • ValiantSon
    • By ValiantSon 8th May 18, 9:32 PM
    • 2,537 Posts
    • 2,511 Thanks
    ValiantSon
    Oh no, I'm sorry, I posted that without reading to the end of the thread!

    Is there a delete button?!
    Originally posted by Skippy13
    There is, but don't worry about it. I was only joking.

    (For future reference, if you do want to delete something, then click "Edit" and there is an option there to delete the post).
    • Skippy13
    • By Skippy13 8th May 18, 9:51 PM
    • 142 Posts
    • 51 Thanks
    Skippy13
    I'll make sure I read to the end of the thread in future!
    • Consumerist
    • By Consumerist 8th May 18, 10:25 PM
    • 4,890 Posts
    • 2,410 Thanks
    Consumerist
    What on earth do you mean by that?
    Originally posted by Skippy13
    It's called hyperbole.
    Warning: In the kingdom of the blind, the one-eyed man is king.
    • Aramil
    • By Aramil 9th May 18, 12:09 AM
    • 3 Posts
    • 1 Thanks
    Aramil
    That escalated quickly....

    Thanks for all the replies.

    Just to set this straight, it is not about going overdrawn, I only have one fixed Direct Debit, I manage everything else myself. I am in the position where I live within my means, so there is always extra cash in the account, which I generally save and then splurge on something when I can afford it. (yeah I know I should save it...)

    I don't feel the need to set up multiple Direct debits for things I would rather do myself, irrelivent of the tiny £ they offer for doing so. And I should not have to consent to products and services I, (A) do not need, and (B) do not want.

    After a quick chat to someone from the F.O.S. I should not have too, as they stated to me they should be available to people who do not qualify for standard current accounts, and those people who do not feel comfitable or compitent enough to run a standard account. (as the whole point of these accounts is to not exclude anyone from basic banking facilaties for any reason).

    So I filled in my FOS-complaints form and copied in Halifax CS in my reply.
    I shall wait, and see what happens next....
    • Consumerist
    • By Consumerist 9th May 18, 1:10 AM
    • 4,890 Posts
    • 2,410 Thanks
    Consumerist
    . . . I shall wait, and see what happens next....
    Originally posted by Aramil
    Good for you. Perhaps you'll keep us posted on progress.

    You are not alone in wanting a basic current account so your experience may be helpful for others.
    Warning: In the kingdom of the blind, the one-eyed man is king.
    • EarthBoy
    • By EarthBoy 9th May 18, 5:45 PM
    • 1,948 Posts
    • 1,283 Thanks
    EarthBoy
    After a quick chat to someone from the F.O.S. I should not have too, as they stated to me they should be available to people who do not qualify for standard current accounts, and those people who do not feel comfitable or compitent enough to run a standard account. (as the whole point of these accounts is to not exclude anyone from basic banking facilaties for any reason).

    So I filled in my FOS-complaints form and copied in Halifax CS in my reply.
    I shall wait, and see what happens next....
    Originally posted by Aramil
    Don't hold your breath. The FOS don't make the rules, they just ensure that banks apply them fairly.

    The Payment Accounts Regulations 2015 state that to be eligible for a basic bank account you must not hold another account with payment features (i.e. any other current account) and you must be ineligible for any other current accounts:

    http://www.legislation.gov.uk/uksi/2015/2038/pdfs/uksi_20152038_en.pdf

    Eligibility criteria
    (1) In order to be eligible for a payment account with basic features offered by a designated credit institution ("B"), a consumer must be legally resident in the European Union, and must either-
    (a) not hold a payment account with any United Kingdom credit institution that has at least the features set out in regulation 19(1); or
    (b) be ineligible for all payment accounts offered by B that are not payment accounts with basic features.


    There's nothing in the regulations to cover customers who aren't comfortable with an ordinary current account, so the FOS has no authority to insist that banks provide them for such people.
    Last edited by EarthBoy; 09-05-2018 at 6:01 PM.
    • ormolu
    • By ormolu 9th May 18, 8:59 PM
    • 10 Posts
    • 1 Thanks
    ormolu
    OP, have you looked into the co-op Cashminder? Itís a basic account, but as far as I can tell you donít need to be INeligible for their other accounts in order to get it.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

104Posts Today

1,977Users online

Martin's Twitter