Unable to get a basic bank account ? - all i want it for is to cash a cheque ?

rl123 · 22nd January 2008, 18:17

Hi i was hoping for some advice please, i took out a loan yesterday and was giving a cheque in my name, however i do not have a bank account and for some reason can not be acepted for a basic account, i know my credit history is awfull, but i am not bankrupt ?? i use my wifes bank account for wages, bills etc. so i am not that bothered to have a bank account, however i need to cash my cheque. does anyone know if i am able to open a savings account - without going through the sames checks that seemed to be used when i try and open a basic account ?

Kind Regards

Michael Browne · 22nd January 2008, 18:26

Have you tried Co-op Cashminder or NatWest Step a/c's. They can both be applied for on-line and many people have got these without problem despite bad credit history.
See here:
Do you need a parachute account?

rl123 · 22nd January 2008, 18:45

Yes i tried Natwast was very unusual as they gave it to me i even put cash into the account, then about twoo weeks later, i had a leter from them stating that after reviewing my account i would no longer be allowed the service, and that i had 10 days to withdraw my funds before the account was shut down ?? no reason was giving ? i then yesterday tried to open a basic with barclays and they told me it had to b passed to the review center ? with no explination at all ? so i am guessing i will not get that account either? like i say i only need some sort of an account to cash my cheque. a easy access savings account would do, but i do not if they will turn me down also ?

vortex · 22nd January 2008, 18:53

I would get hold of your credit file and see what is there.

rl123 · 22nd January 2008, 19:29

hi vortex, i did do that, it shows ccj,s and defaults, my current loan that is upto date and that is it really ? i do know why old bank account would have been closed with an amount owing, could it be this ?

dave · 22nd January 2008, 20:27

Is it not possible to sign a cheque over to someone else?

I really don't know if that's possible. But I will soon have the same problem.

rl123 · 22nd January 2008, 21:57

i dont think it is ?

vortex · 22nd January 2008, 22:04

No please see the Cheque Act 1992 for further reference. Most cheques these days are account payee which legally have to go into an account with the name of the payee on it.

postggj · 22nd January 2008, 22:07

dont know there commission, but have you tried cash converters etc
they will cash your cheque

HONESTKNOB · 23rd January 2008, 00:25

I thought everyone had to be allowed a basic account for payment of benefits etc?
My missus got one through the co op and it's fine.
Cash convertors will charge around 8% to cash the cheque

louis wu · 24th January 2008, 10:45

From the FSA, there is a table on page 4 that may be helpful to you

http://server-uk.imrworldwide.com/cg...k_accounts.pdf

louis

rl123 · 24th January 2008, 10:56

Thank you fot that table, I have jut had a call from barclays missed it so they left a message on my voicemail - very brief 'We are unable to open you an account' thats it? i really dont know why i no my history is poor i have obtained my credit search and can see i have two ccj's and d/fs. but i can not seen anything else on there ???

all i want to do is cash my cheque - guess i am going to have to be stung for the 8% charge to do it - i feel like i am a criminal and i am not. my only sin is that i missed payments and then dug myself in a hole hoping the debt will go away ! then i woke up and just wish i could turn back time! i feel so down at the thought i cant even get a basic bank account !.

HONESTKNOB · 24th January 2008, 23:33

Seriously mate, try the co op. Do it in the branch, not online. Explain what you want it for and the staff can over ride the computer.

poochball · 9th February 2008, 17:39

Try RBS cashminder. My chequered past didn't stop me

Conniff · 10th February 2008, 15:55

Ask them to re-issue the cheque in your wifes name and then you can pay it into her account.

indebtstudent · 10th February 2008, 16:22

The way I see it you have two real options. See if you can be added on to your wife's account. May be unlikely given the events which have unfoled, also can take a week or two (the benefits of centralised admin).

Open a basic savings account, I know we have on with a card. The thing is savings accounts are NOT credit scored. This would allow you to clear your cheque.

I would avoid using a company if poss as they will charge you a percentage for the service.

Actually that's a point how can they do that when 99% of cheques are now marked account payee only?

wino · 11th February 2008, 11:23

I was turned down for basic cash accounts at quite a few banks and building societies. I eventually got one at the Halifax. Not just a cash account but one with an electron card. Easycash it is called.

louis wu · 11th February 2008, 11:49

Wow, wino, have you seen your post count 4,294,967,128.

You have been busy

rl123, I think it looks like you've been very unlucky with this issue. I know too many credit checks are bad for your status.

I do think indebtstudant's idea of a savings account is worthy of investigation. If you can pay a cheque into it it may be the perfect solution.

louis

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