Bank account - Opening one - Refused by CO-OP

[Deb T]

What a bunch of cretins the CO-OP have turned out to be.

 

So my credit account is smashed, no problem, but I need an account to be able to transfer money into from a disability payment and my current bank has decided to implement ridiculous charges now no longer known as 'overdraft fees' but instead a fixed amount each month depending on how much you're overdrawn...which makes me considerably worse of.

 

So, I want to ditch that account and try and work a deal out with them to pay off the overdraft but without accruing further fees...fat chance I know but it's my only option, maybe get them to transfer the overdraft to a loan which if the interest is less than the overdraft it's worth doing...I think.

 

In any case, applied to the CO-OP for a current account which they of course 'referred' I told them I didn't want a cheque book or an overdraft but a visa debit card that only allows you to spend what you have in the account or it's refused. I also wanted internet banking....anyway it was 'referred' a couple of days later they came back 'refused' no worries it was what I expected but they then offer a lower account where there is no cheque book offeed, no overdraft allowed and a visa debit card only allowed to spend whats on it....(same as the std account but with the std you can apply for cheque books and overdrafts) which I didn't want anyway and said as much.

 

I'd already had all my details taken on the first application, I asked the lady at the co op branch that if the std account was refused could I still apply for the lower account (apparently you can't apply for it until the std account has been refused anyway)..yup she said, it's pretty standard, we just type up the details and away you go.

 

Phoned them today, went through all the same details and guess what.....it too was feckin refused......so they've twice made an entry on my credit file when had they told me the second app would also be not given I'd not have applied for it etc.....and I still can't get the basic account so as to get a disability payment from an old employee put in.....

 

So, are these 'basic no credit accounts' actually available or is it just a total myth and they run you through the mill, mislead you anyway and cause your credit file further entries when not required. I'm blooming furious with the CO-OP for misleading me in such a manner.

[postggj]

first time ive notices the co-op refuse an account

 

is there not some law that states a bank has to offer some sort of basic account

[cerberusalert]

You should have applied for a 'Cash Minder' account with the Co-op. Try again but stipulate 'Cash Minder'. The Co-operative Bank | Cashminder

[Deb T]

first time ive notices the co-op refuse an account

 

is there not some law that states a bank has to offer some sort of basic account

 

 

If there is (a law) I'd like to know it so I can quote it back to them...bunch of idiots they are, two entries on my credit file from them now....

[babybear39]

The CO-OP refused me but Barklays offered a basic cash card account but with no debit card I've since been allowed to upgrade to the student account.

[Deb T]

Hi Cereb, yup thats the account I applied for the second time . I've just phoned them to confirm that it was that account and not the std account.,

 

Still been referred etc......I'm blooming annoyed but one thing they did say when calling them just now was that the cashminder account isn't credit searched so it doesn't put a second imprint on the account.

 

Thanks for that giving me the name of the account though, I'll let you know how it goes.

[beetzart]

I had a similar problem with Nationwide. I have recently got a joint account with them with my wife and all we get is a cash point card with no debit facitlities. I recently asked them to upgrade us so we can have a debit card but because of my credit rating we where refused. All I want is a bloody debit card that will NEVER let me overspend. I'm not asking for a mortgate or anything.

[cerberusalert]

There's been a few people having the same problem, it's the telephone jockeys at their end not understanding that it's not a credit a/c.

[babybear39]

This is a continual problem for those od us with wrecked credit files. The government should sort it out because it makes life very difficult not having a debit card.

 

On the other hand, you can get pre - pay credit cards for about £15 subscription and you top them up with cash at the post office

[vic synex]

When I hit my "money problems" the only bank that would touch me was Nat-West who gave me a current account with a cheque book and a Solo card, which won't let you spend what you haven't got, but no overdraft.

Up to now, had no problems using the card or maintaining the account, give them a try.

[Seminole]

Try the Halifax Cardcash account.

[maroondevo52]

I got a Natwest 'Step' account no probs, and my file's trashed.

[postggj]

This is a continual problem for those od us with wrecked credit files. The government should sort it out because it makes life very difficult not having a debit card.

 

On the other hand, you can get pre - pay credit cards for about £15 subscription and you top them up with cash at the post office

 

THESE PRE PAY CREDIT CARDS ARE GREAT

 

I DO ALL MY ONLINE SHOPPING WITH THEM

[lickthewallfatboy]

halifax easycash

 

if we were able to get it,anyone can!! LOL

 

prepaid debit cards are the biz

[SHERLOCK]

my file is pants and we got a cashminder with the Co-op around 3 years ago, dunno why they are refusing.

 

The visa debit card they issued us recently might be the problem, it replaced the previous visa electron and is now I believe classed as an online debit card, wotever that means.

 

Just make sure that the account you apply for doesn't have any connections to other banks in the same group (if you owe them money), they can and do exchange info for sure,

 

Heres a link to the basic bank account list and their connections, http://www.payplan.com/pdf/bank_acc.pdf , the symbols show linked accounts.

 

Sherlock

Edited December 29, 2009 by SHERLOCK

[hillards]

Half the problem is where people go for a new account and don't really know what they want.

 

The Co-Op do not refer anyone who asks for the basic Cash Minder account. That comes with Internet banking, a Visa debit card and, if you ask, a book of paying in slips. You can set up direct debits and standing orders, and that's all you really need. You can have payments going in from employer, government offices, other people's accounts. No problems.

 

The Halifax Cardcash account is much the same, and most banks have that basic level available, without a credit check.

 

If someone asks for a current account then that's what will be processed. That has the cheque book and overdraft facility, hence a credit check being made.

 

Most banks have a website that explains the different types of account they do, a few minutes of your time can save days of waiting for a refusal and a mark on your file.

 

It is a bit annoying that the original poster (Deb T) has used CAG to have a go at the Co-Op when they have been so good to many members here, myself included. Her own fault to asking for a current account really.

 

Sorry, had to be said.

[SHERLOCK]

often the info can be confusing and credit check details are generally hidden somewhere in the small details. However, I'm not sure basic accounts are given without credit checks as names still have to be verified etc.

 

I think maybe its just that the checks aren't used to determine suitability, I may stand corrected on this.

 

The banking inclusion directives (with regard basic banking for everyone) were set by the EC some years ago in collaboration with the banks and all details can be found here:

Financial inclusion - HM Treasury

 

Sherlock

Edited December 29, 2009 by SHERLOCK

[hillards]

...I'm not sure basic accounts are given without credit checks as names still have to be verified etc.

 

That's why they need to see proof of identity when these accounts are opened, otherwise we could all have several accounts in different names. Usually the documents taken at the time of opening an account, in branch, are sufficient to verify who you are, and they don't need to go any further than that.

 

My own Co-Op account was up and running in just a few days, after the Halifix messed up a Cardcash account I had had with them for many years.

[SHERLOCK]

'otherwise we could all have several accounts in different names'

 

Thats just my point, I opened an account by post for my 16 year old daughter (nearest co-op branch 20 miles away) and they requested a birth certificate verified with a doctors/solicitors/professional's signature and then she had to ring up to set the online bank.

 

I can't accept for one minute that an account is opened without verifying details of some nature (with or without your knowledge), else any tom dick or harry could open an account and launder money etc.

 

In essence my daughter could have been any female on gods earth!

[palomino]

THESE PRE PAY CREDIT CARDS ARE GREAT

 

I DO ALL MY ONLINE SHOPPING WITH THEM

 

Great they may be, however they are expensive, very expensive, or even horrendously expensive depending on which card you have. The people that issue them do it for the money, not from any spirit of benevolence or charity.

 

The best one IMHO is the BT card. The 'gotcha' is that you have to spend £10 on phone calls every month.

[Blondmusic]

I have had my Natwest Step Account for 5 years now with no problems. I have got a Solo Debit Card which i use for my online shopping. I also have Internet and Telephone Banking.

[KER]

Great they may be, however they are expensive, very expensive, or even horrendously expensive depending on which card you have. The people that issue them do it for the money, not from any spirit of benevolence or charity.

 

The best one IMHO is the BT card. The 'gotcha' is that you have to spend £10 on phone calls every month.

 

 

I like the 02 one, as I have an 02 phone, so it costs me precisely zilch to load and zilch to use

[Deb T]

Hillards said - The Co-Op do not refer anyone who asks for the basic Cash Minder account.

 

Deb T's reply - Sorry, that's factually incorrect, my request today was for their basic account, no credit, no overdraft, no cheque book...I just wanted an account that I could have money paid in to and use via internet banking. The terminology used after going through the various questions/aplications and presumably security checks was 'it's been deferred' you should know within 48 hrs and they gave me a 6 digit ref number

 

 

Hillards said - It is a bit annoying that the original poster (Deb T) has used CAG to have a go at the Co-Op when they have been so good to many members here, myself included. Her own fault to asking for a current account really.

 

Deb T's reply Used Cag to dig at the CO-OP? not a dig, just voicing my irritation with them and what I consider to be their initial misleading and badly given information. I visited their branch armed with my passport as per their request, they asked what I wanted and I told them I wanted an account that didn't have a cheque book, didn't have an overdraft facility, I could have money paid into and had internet banking. The manager who served me advised that they thought it best that I apply for a current account with no overdraft facility and if I didn't want a cheque book then that was fine also....at the same time as this I was told that accounts are usually opened there and then subject to the usual cheks and the debit card comes through along with the cheque book a few days later. They also took a copy of my passport.......10 mins later and asking if I wanted any offers for items such as house insurance/car insurance...the account came back as 'deferred' and it was 'probably just a formality and I'd get a letter within 48hrs with a decision.....At that point I asked what was the point of my applying if I was refused if there was no credit being asked for to which the reply came back 'ahh, there is another more basic account we may be able to offer you but lets see how your application gets on....

 

Needless to say I was pretty peeved at that point, I asked what they do with my passport copy and he said it would be destroyed if the application was unsuccessful ....

 

So today, when phoning them and asking for the basic account, again explaining that I had been refused a few weeks earlier I again went through the same security questions....but with one critical point of irritation, when he asked me to confirm my full name as was on my passport.....I asked if that had been destroyed and his answer was 'no, I have a photocopied version on my screen albeit in black and white........er, they'd told me a couple of weeks earlier that they'd destroy it as soon as my initial account was refused after the deferrment....this is quite clearly not the case....anyway I went through the same stuff and it was again 'deferred by the phone operative who then stated that it's usual once a current account has been refused that the basic account is automatically deferrred subject to them just confirming who I am.....It was only after Cereb in this thread mentioned the account that I phoned back to check that it was the 'Cashminder' account I had applied for this time... So, yes I'm peeved with the CO-OP, I don't care how 'good' they are with other people, with me and the service thus far provided it's nothing sort o shoddy, they've misled me, they've told me they'd destroy the copy of my passport when the first application failed and they haven't and it was under the managers in the store (first visit) advice that he went for the current account but with no cheque book or overdraft but I could apply at a later date should I want them.....Had he took me at my word for the first time round there would have been no need for me to call them on the phone to apply for the account I wanted in the first place and to them be told it's 'been deferred' again.....well it's a piddle take and I don't care how good the CO-OP are, in my case they've been a disgrace and judging by some other posts in this thread I'm no the only one that has suffered at their hands...

 

 

Hillards said - Sorry, had to be said.

Deb T' reply and I appreciate you saying it but I just thought I'd reciprocate

[cerberusalert]

Banks are funny creatures, you can give two of them the same info, yet the outcome can be completely different.

 

 

I applied for two a/cs one with the Cooperative the other with NatWest several months ago. The Coop declined my initial application but offered me a 'Money Minder' a/c, Natwest accepted my application and offered a current a/c (Servicecard 250) complete with chequebook & cheque guarantee card up to £250 per cheque, I declined the overdraft facility.

 

I gave the banks exactly the same details, they both checked my credit file which is now clean, but didn't show me having any existing credit. Both a/cs are now showing on my credit file now although it is only the Natwest which is in fact a 'current' account.

 

So in effect, if I was stupid enough with the chequebook and card I have unauthorised credit of £5000.

[sleepingdog]

Hi Deb T , there does not seem to be any logic in the way the banks operate even at opening accounts. I was refused a basic account by many banks, left it a month and re-applied and the first that had origonally refused me was then the first to accept me ???.

sleepingdog