Getting a 2nd account - who would you recommend

[pootle]

Hello!

 

I'm starting to realise that it would be a VERY good idea to get a 2nd account set up before I start attempting to get the £100's that the Co-op has overcharged me over the years.

 

Who would you wise lot recommend as an alternative though? Please bear in mind I have a less than perfect credit history - defaulted on a couple of credit cards, been pursued for an unpaid council tax bill etc, and I wouldn't be able to deposit a vast amount at first, as the T&C's of my co-op account overdraft state than deposits to the account (i.e my wages) have to remain the same.

 

Who would you suggest? Oh, and if you apply to open an account with a bank and they decline you, does that leave a credit mark on your credit account like a declined loan or credit card?

[richardc]

No bank is better than any other. If you have poor credit try the Co-op or Natwest Step Account. I think Barclays have a basic account as well.

[ds0rco]

As far as I know, the actual search with the credit reference company will show on your credit report.

[Bookworm]

Ok, I'm going to duck rotten tomatoes here, but I find that Barclays is slightly better.

Why?

Well, if I check online in the morning and I see I have gone over, I can go and pay money in that day before 3.30pm, and it will bring my balance back under and I won't get charged.

If I pay a cheque in, the money is available straight away. Yes, I'm paying extra interest, but that is a service and that, I'm happy to pay for.

 

And this is the reason I'll be going after them last for my charges

[intersimi]

I need similar advice to be honest. My crediot rating is very poor indeed and Barklays have denied me a normal checking account.

 

Sorry about posting in this thread, but I do have information to pass on too.

 

What I need, and indeed I am sure the original poster needs, is a checking account, for when the whole "I'm suing you" loses us our bank accounts.

 

You can indedd obtain a minumal bank account in any bank. I believe that no bank can deny you bank account due to the law. The reason for this, is that things like pentions are paid in to banks now a days and an individual should not be withour a bank account for payments in.

 

I have a "basic" Barklays account. This account allows me to use the cash machine to obtain money and I can also withdrawl over the counter. What the account does not allow, is Direct Debits and Standing orders. It also does not have an Overdraft facility. Also, I am not allowed to use the online facility that Barklays offer.

 

I believe that every bank will issues a BASIC "cash card account", but that is all. The problem being, that I have a lot of people that I pay via Direct Debit and Standing Order and would like to remain doing this as it makes my life a whole lot easier, not to mention making savings by paying by Direct Debit.

 

Please inform me if I have hijacked this Thread in an inappropriate manner and I will delete my post.

[Saner]

i have often thought if I where to suffer from identity theft I may end up with a better credit rating.

 

I have recently signed up for a NAtwest Step account, and I will let you know if I get it.

 

I somehow doubt I will but I will let you know the result, because if I can get an account now, anyone can!

[intersimi]

I too will try to obtain the Step Account. I might also trawl through the high street with all my details and try and get a checking account at various braches and let you all know my results.

 

I do need a checking account, so I might as well put the effort in now before it gets heavy.

[pootle]

Please inform me if I have hijacked this Thread in an inappropriate manner and I will delete my post.

 

I don't think you've hijacked it all!

 

You've made a fine contribution to this thread, and that's what BB are about, aren't they?

 

Mind you, I'm only a newbie, so what would I know

[richardc]

The Natwest Step account allows D/Ds, Standing Orders etc. It also gives a Debit Card which is very handy these days.

[Saner]

The Natwest Step account allows D/Ds, Standing Orders etc. It also gives a Debit Card which is very handy these days.

 

 

Thats what I need, I have a number of things that I pay for online, without my debit card I would be lost.

[Bookworm]

Please inform me if I have hijacked this Thread in an inappropriate manner and I will delete my post.

 

I don't think you've hijacked it all!

 

You've made a fine contribution to this thread, and that's what BB are about, aren't they?

 

Mind you, I'm only a newbie, so what would I know

 

You would say that, you thread hijacker you!

 

(only kidding!)

[intersimi]

Hopefully the step account is the answer to our prayers (If they allow us).

[intersimi]

By the way, here is the link and you can apply online

 

http://www.natwest.com/personal02.asp?id=PERSONAL/DAY_TO_DAY/CURRENT_ACCOUNTS/STEP_ACCOUNT

[intersimi]

I have been through the appropraite question to create an account and recieved the folloing message. I just have to wait now:

 

Thank you for your application.

To complete your request we will send you all the relevant documents.

 

Please check and sign where indicated and return in the pre paid envelope provided.

 

Once we have received your documents we will consider your application and write to you with our decision.

 

You may also be asked to provide some identification documents. If so, please note that we can only accept original documents, which we will return once your application has been processed.

 

[JJ99]

I know that the Woolwich offers a bank acct that you can have when you are made bankrupt. They don't credit score you for it but you wont get an overdraft or anythinglike that.

[jonni2bad]

There is some info available from here, in pdf format

 

http://www.fsa.gov.uk/consumer/pdfs/bank_account.pdf

 

Page 6-7 has a condensed summary, which I think is quite useful. Not sure if this is bang up to date, but can check this tomorrow evening. I chose HSBC as it lets me bank online, DD's and SO's can be set up there, as well as one-off payments, no charges for failed DD's and a £10 buffer zone, but no switch/solo card.

[richardc]

Thank you. Most useful.

[Bovvered]

This is all excellent advice.

 

I don't suppose anyone wants to collate this information about basic accounts (what they offer in terms of DD's, cards etc...) for the front web site do they.

 

I would do it myself, but I'm pretty snowed under with writing the 14-40 day date email reminder, the buddy system (works out how far you are from another signed up 'buddy'), the Bank Lurker program, sorting our the forum software, the 'best/worst bank' table/chart survey, amending the 8% spreadsheet to account for interest added to charges, another 'secret' (for the moment) project I'm working on, emailing our host (as people keep getting odd 'service unavailable' messages) and a full time job.

 

Phew - someone please collate the info!! (also a column about how much their charges are wouldn't go amiss either ;-) )

Don't forget the bank criteria chart link in the library - most of the info for different accounts is collated on one page - here is the link again for this thread as I think it's appropriate:

 

http://www.ivafreehelp.co.uk/bank_accounts.htm

[intersimi]

Natwest have sent me a load of filled in paperwork to send back to them, so it may take a little longer than expected.

[BankFodder]

If the bank have completed the paperwork for you then check it carefully. Make any amendments clearly in red and accompany it with a DPA request letter stapled to it. Refer to the letter in the form with a statement in red.

 

Better still don't send the form - just the DPA letter

[intersimi]

This is for my parachute account. I don't think I will annoy them just yet

[BankFodder]

Oh, I thought that it was for a DPA request. My brain is generating automatic responses.

I must introduce some manual intervention.

[intersimi]

I thought you might have been. I see you in almost every thread. You guys are doing a great job. I use the word job, as you must be doing more work in these forums than you do in your real jobs (but that is another thread entirely)

[colour-me-happy]

I have recently applied for a Natwest Step account and before I sent the paperwork back I rang and asked them what their criteria was when making decisions and the guy said "basically as long as you are not bankrupt then you will be ok" which is great news for me, will update as/when I get their decision though!

[intersimi]

Nice one colour-me-happy,

 

that will do for me