Do you need a parachute account?

[mfpa]

I have set everything up on SO (except my mobile which is still on DD) and everything goes out on payday so there's no risk of anything bouncing... I hope!

 

Certainly more reliable than DDs in terms of consistent date.

 

Beware bank holidays.

 

At one time I was weekly-paid on Fridays and had a standing order on Fridays to a second account where my bills were paid from.

 

One bank holiday week I was charged for bouncing some payments on the bank holiday Monday - my money was not yet in the second account "because of the bank holiday" but the bank were bouncing outgoing payments in spite of the bank holiday.

 

As for Christmas/New Year: forget automated payments entirely from about 20th December to 10th January...

 

My preferred strategy is to set up bill payment instructions for everything. Then, after my salary is in my account, log onto internet banking and pay the ones I can afford. Try to miss different ones the next month.

[monopoly23]

If anyone can help i'd be very grateful.

 

How can you open a parachute account anywhere when you dont have a passport OR a driving licence?

My fiancee opened his account when he was about 11 in the presence of his mother! He's never been abroad and doesnt drive so where does that leave us???

 

If anyone can point us in the right direction that would be great.

[monopoly23]

If anyone can help i'd be very grateful.

 

How can you open a parachute account anywhere when you dont have a passport OR a driving licence?

 

My fiancee opened his account when he was about 11 in the presence of his mother! He's never been abroad and doesnt drive so where does that leave us???

 

If anyone can point us in the right direction that would be great.

 

ANYONE?!?!?

[leedsangel]

hello,

 

Try the Yorkshire Bank's/Clydesdale Bank's Readycash Account. You get a full Maestro card (it isn't a cheaque guarantee card) and unlike the Visa Electron Card, you're not waiting to have it authorised.

 

With the Yorkshire Bank, if you don't have any photo ID, take in a Council Tax demand, anything for HM Revenue and Customs, Utility Bills, Tax Credit Notification, etc.

 

If you haven't gone bankrupt, then more than likely you'll get an account the same day that you had your appointment (I've got mine on the 23rd).

 

Good luck

 

leedsangel

[monopoly23]

Thanks. Already checked out Nationwide and some has suggested Natwest too but it's good to know the easiest to open in case theres any problems.

[Erica_The_Penguin]

message deleted

[SHERLOCK]

Hi,

 

IF YOU HAVE DEBTS AT ALL IT IS ALSO WISE TO CHECK THAT YOUR NEW BANK (ACCOUNT) ISN'T LINKED/OWNED BY A PREVIOUS PROVIDER WITH WHOM YOU HAVE THE DEBT.

 

NOT ONLY DOES IT PROVIDE THE BANKS WITH EASY ACCESS TO YOUR BALANCES (THEY WOULDN'T SURELY DO THAT WOULD THEY!!) THEY COULD OBTAIN MONIES OWED FROM THESE ACCOUNTS!!

 

SHERLOCK

[PatsyTheCat]

Hello,

 

I'm not sure if this is the right place but it seems kind of relevant. I'm very protective of my credit history as I've had issues in the past which have caused me problems and things are just starting to improve for me. I'm a little bit nervous about claiming back my charges because of this.

 

I just really wanted to know if they close my account whether this will have a negative effect on my credit rating?

 

A bit more background: I've just paid off my overdraft but I do have a loan with them but this is all up to date.

 

Just wanted to know the potential consequences if they close my account...

 

Thanks

[JonCris]

No & if they did try to register any adverse info, just because you got your money back, they would be opening up a whole new can of worms for themselves

[PatsyTheCat]

Thanks JonCris.

 

I just wanted to check as I don't trust them one little bit.

 

Have a lovely evening.

 

Patsy:)

[PatsyTheCat]

Hi guys,

 

I currently have an all singing and dancing bank account with Barclays but do fear that when they cough up they'll take my account away.

 

Due to a poor credit history it's very likely that I'll have to take a 'basic' account of some kind.

 

By having a basic account - can this effect my credit rating even further or would it make no difference at all?

 

Any information on this would be very much appreciated.

 

PatsyTheCat:)

[the_cork]

Hi guys,

 

Just thought i'd post on here, the first post of this thread could do with being updated. I just opened up a Halifax Easycash account which comes with an electron debit card. It was really easy, after the 5 minute online application, they send a form out saying please sign this to proove you actually live here and send back a fax copy of your passport/driving license. No need to have utility bills, credit card statements etc like i found with Natwest as i live in rented accomodation and don't have any utilty bills in my name.

 

Just thought i'd post my experience in case this helps anyone.

[vandermerwe]

I've been advised to have a "parachute account" solely to receive weekly benefits and pay priority accounts, as I'm challenging HSBC for several hundreds of pounds of "arrangement fees" acquired over less than three months on an agreed overdraft of £1000.

 

Anyone know whether Nationwide are owned by one of the big High street banks?

 

Also whether such an account can be in joint names i.e. my wife to whom I have been married for 45 years.

 

Any advice welcome - have always believed in belts and braces.

 

Vandermerwe.

[bluetack]

Nationwide can be opened in joint names, I am with them and am going after charges. I opened a parachute account with Halifax, it was really easy (my credit is really bad) and you get a Visa Electron card with the basic account!

[rl123]

Hi all, i did open a natwest basic account in dec 2007 and paid £300 pounds cash in to the new account on the same day it was opened ? i then waited two week for my card to arrive. When i letter from natwest did arrive, it basically stated that after carefull consderation they would no longer allow me the use of there account, and i had 10 ten days to withdraw my money before it was shut down. I do have CCJ's and Defaults and also my old bank account may have been closed with a negative balance. Trying to get my life back on track from my silly ways when i was younger. Anyway yesterday i took out some finance and was given a cheque in my name as it is a single application, however i canno't seem to open a basic bank account, barclays wouldn't allow them to do it on there system and they said it needed to be reviewed ? (which i can only assume means i will not get it) I only need the account so i can access the money on the cheque , as we use my wifes account for my wages and pay bills etc.. Does anyone know if i would be able to open just a easy access savings account, without all the credit checks being made ?

 

Kind Regards

[vandermerwe]

Hi rl123

 

Try the Co-op.

 

They opened mine over the phone (it took a couple of weeks because of all the bulldust to prove who I am) but it is up an running.

 

Suggest you get at least one regular payment paid in there seemed no other hassle (no cheque book of course)

 

Good luck

 

Vandermerve

[Gwarpt1]

Hiya,

thanks for the info about

parachute accounts. I am at beginning of process to get charges back from HSBC and noticed had same bank

 

How did you get on??

 

Regards

GWARPT1

[vandermerwe]

Hi Gwarp

 

HSBC ignored all my requests and demands, but have just had a letter from DG Solicitors suggesting I pay £xxxx in settlement.

 

This is pretty close to the balance after what I am aiming to get back, but means I would have no account with HSBC and - more to the point - can't come up with £xxxx in the time they demand.

 

And so the struggle continues.

 

The Co-op are OK, but I've had a couple of refusals to accept their Visa Electron card.

 

Can't think why - they were only on line merchants with nothing special about them.

 

Keep in touch and good luck.

 

Van

[Chromatix]

I use Visa Electron because that is what you are given in Finland if you have no (local) credit history. I can confirm that it simply doesn't work with some online merchants, and works inconsistently with some others. However, it does work in most shops, and you can always withdraw cash and use that to pay.

[robert_roi]

One of the solution might be Extra Direct account which comes with prepaid MasterCard and online banking. Unfortunately there`s no DD or SO facility but your wages could be paid into your account. There is monthly fee of £12.5 and one-off fee £49.98 when you open.

Extra Direct

 

Another one, seems to be better is thinkbanking.co.uk - comes with DD facility, payrol, statements and Maestro Card. There is a one-off set up cost of £25 which is taken from the first credit to be paid into your account and a monthly administration fee of £12.50

think banking - The account open to everyone

 

 

No credit checks whatsoever! All you need to open an account is proof of I.D.

 

Hope it helps.

[Dread]

Hi guys and sorry to butt in on the forum but does anyone know anything about Credit Unions as a means of operating an account. I believe half of the US use them in one form or another and although they don't provide credit nor do they require to examine the intimate details of your background.

[Dread]

According to Wikipedia the US has 87 million credit union members........that's more than the UK population.......LOL

[JonCris]

More & more CU's have DD facility to pay bills

[elsinore]

Hi guys and sorry to butt in on the forum but does anyone know anything about Credit Unions as a means of operating an account.

 

Yes, peterbard does.

 

http://www.consumeractiongroup.co.uk/forum/general/145896-credit-unions-discuss.html?highlight=unions

 

Els

[Cataclyst]

Anyone knows what different banks offer on charges for being overdrawn over you overdraft agreement?

I loose most of my money for being over my overdraft limit by 2 to 20 pounds. I know I should go over my limit in the 1st place but with Lloyds I get charged 25 pounds + 6 pounds a day, no matter the amount. (In June, I got fined 150 for being 24 pence overdrawn for about a month)

This is ridiculously unfair. I want a bank that will not charge these ridiculous amounts.

Any idea anyone? Or does that not exist in the world of banking?