@coopbankuk_help Cashminder Online Banking

[Frank.ff]

Hello, I'm just about to apply for a Co-Op Cashminder account.

 

It says there is online banking and you can have direct debit and standing order with the account. My question is simple but I cannot find the answer. Can you set up, edit and cancel your direct debits using online banking?

 

Kindest regards

Frank.ff

[hammyhound]

Hi Frank,

 

Just checked for you. I have a cashminder account and yes you can amend/set up/cancel standing orders and cancel direct debits.

 

A word of caution, the available balance does not include items ie debit card payments you have made and are still waiting to be debited. Just keep an eye on your finances as you go along. They say they are changing this this year to reflect debit card payments in transit.

 

HH

[Frank.ff]

Hammyhound, thank you so much for your quick reply, it's much appreciated.

 

Since posting the question I have been reviewing what DD and SO's I have on my present account. Seeing it in black and white is just shocking and I am appalled. No wonder I need a basic cash account.

[hammyhound]

Frank, Co-op cashminder account is really exactly the same as other accounts except you don't get an overdraft which I am happy with.

[AvengingAngel]

Hi, I have a cashminder account. I was online in my bank account around the end of the day and I watched while the account changed the order in which debits and credits went into the account. I complained to the bank as the order had made it look like I had gone overdrawn (which was impossible as I took out cash from a hole in the wall, which the machine wouldn't have allowed if I had been overdrawn). I am really only posting here to comment on the bank's reply to my complaint. I said I would write to them every time I had the same thing happen, if it happened again in the future. They said, "if you write to us each time this happens, your future letters will be held on file without reply from us".

 

Their letter was signed by a Customer Feedback Adviser. Obviously absent from work on the day the 'best practice' and 'good customer service skills' courses took place. I know they don't want to get bogged down by peasants like me standing up for ourselves, but saying, "Go away, we're not going to talk to you???"

[ForumFodder]

Credits and debits have transaction codes. Debits are 01 to 50. Credits are 60 to 99.

 

Your statements lists transactions per day by ascending item code. If you get a salary paid in, but go to the cash machine twice, you'll see this:

ATM £50

ATM £200

Salary £1000.

 

Now, let's say your balance was £0 before you got paid. You'll see the following balances:

- £50

- £250

£750.

 

You only need to take into account one balance - that at the end of the day. The bank KNOWS you're not overdrawn, it's just the strange way the statement looks because the items are presented to you by transaction code.

 

The only time to worry is where credits have come in late in the day. This is cash credits or same day BACS/Faster Payments.

 

Credits that are allowed are 'mandated' like a salary, benefits, a BACS that's hit at 00:01am, Standing Orders.

 

This is why you don't get charged for being overdrawn on those days. You will be charged for a bounced direct debit or standing order if you pay in on the same day.

 

Online banking is not helpful, so ring the bank if you're ever worried a bill is taking you overdrawn. As the bill was likely bounced before you even woke up, the unfortunate fact is that your balance now shows you as being back in credit, even though there's a mortgage Direct Debit on the screen.

[AvengingAngel]

Oh thankyou for that reply, that's so sweet of you to go to all the trouble of typing it all again. And of doing it in the first place. But I must know, did you throw your poor computer across the floor???? ROFL ROFL!!!

[ForumFodder]

It's a ... slightly more watered down version, but it does the job I hope.

 

I know your frustration but keep in mind what i've said and you can't go wrong. All it takes is one of their money management guys who knows what they're doing to explain it all and it's as clear as day.

 

I only know so much because, well, I helped design the rules and helped build the systems money management use today. I no longer work there, but I can be trusted to know what's what.

[AvengingAngel]

Hi,

 

If you're a tech specialist I hoped you moved on to somewhere you're appreciated. Too often the tech/IT specialist is someone who's used and trodden on by the 'Gods'. I understand the idea of the numbering system, but it is very annoying when banks take debits before credits in place of following a timeline. And especially annoying when they take their own charges before other debits, or if they take them early.

 

As far as the Co-op are concerned, I only remain annoyed at the lack of respect and blatant "you're an insignificant little flea and we don't have to deal with you, " attitude.

 

Anyhow,

Bye,

[snowdragon]

anyone know how long they take to send you the forms to fill in for this account,I phoned up for a cash minder on Wednesday 20/6/12 as Natwest have not sent us anything,according to them we do not exist! Yet we took in all our documents etc and that was well over a month ago, did pop in and ask but got told that we needed to sign a form they had forgotten to give us! did that and now we do not exist, grrr All we want is a basic account for JSA to go into, the lady at co-op said it had gone through

[AvengingAngel]

This is very strange for the Co-op. I went into my local branch, sat down in one of their glass fronted offices with a bod and two cups of coffee. He put my details straight onto their computer. My card and pin number arrived a few days later. Then I went online and set up online banking, choosing a four digit code (cannot be the same as your pin number belonging to the card). I set up direct debits with the card reader that came through the post, and in fact I do most of my banking with the cashminder account online.

 

Sounds like you need to go into the branch. By the way, if you forget your pin number you can go into the branch and they will post you a reminder.

[AvengingAngel]

anyone know how long they take to send you the forms to fill in for this account,I phoned up for a cash minder on Wednesday 20/6/12 as Natwest have not sent us anything,according to them we do not exist! /QUOTE] Oh, did you mean that the Nat West think you don't exist? I've got no complaints about the Co-op.

[snowdragon]

we do not have a co-op anywhere near us,that is why we phoned them up,the woman asked a lot of questions,then said,that it had gone through but not how long it would be before we got our card etc, we also had to choose a password/memorable word ,guess if nothing comes will have to phone them back up, and yep Natwest could not find us on their system even though one of their advisors had given us a card!

[AvengingAngel]

I've got no complaints about the Co-op.

 

Apart from my original moan, of course hee hee

[snowdragon]

? not complained about the co-op yet! just asking if anyone else had the same problems as we seem to be having,first Natwest and now it seems the Co-op! Halifax turned us down for a basic account and Barclays have closed our account

[AvengingAngel]

Sorry for confusion, Bobcat. It was me who complained about the Co-op, if you look back at the start of the thread. If I were you, I'd persevere with the Co-op, and give them a gentle reminder as to where your "welcome package" is. Now I've got into the rhythm of using the online account, and make sure I don't go over into the red (which they are hot on), everything's fine.

 

Did you want to mull over anything else at all? Two heads are better than one, sort of thing? Not a lot of people know this (to borrow from MC), but I was bankrupt last year so I might be able to chew things over with you.

[snowdragon]

we were considering making our selfs bankrupt tbh but when was told how much it costs decided to go for the DMP option. Just can not believe how NATWEST have been, its costs nothing to say NO, will give the CO-OP a few more days and then remind them,we have no bank account now and need one for my JSA to go into.

[snowdragon]

morning, well got the letter back finally from CO-OP, saying we have been approved in principle but they need ID etc, the list is very confusing about what they need!They will accept copies by post but have to be signed by someone in a position of responsibility ,we do not know anyone as only lived here just over a year. How hard is it to get a basic account for goodness sake

[AvengingAngel]

got the letter back finally from CO-OP, saying we have been approved in principle" That's good

 

"they need ID etc, the list is very confusing". Usually it's either one document listed in list A or two in list B. Usually includes a utility bill and your driving licence.

 

"have to be signed by someone in a position of responsibility". This will cost you, as it's usually a solicitor. I had this problem and if you don't know a "person in authority", ie, a teacher or doctor, it can get expensive if using a solicitor. I can't remember, can't someone at the jobcentre sign copies for you?

 

I appreciate you said you don't live close to a branch, but the best possible way would be to make an appointment and go into the branch, with your docs, if you possibly can.

 

Well done on getting a dmp organised. I was so stressed when I did the bankruptcy. I thought it was the end of the world, but in the end, I just went into court and the judge was so nice. He looked at my financial papers and said, "I can see you need the application for which you have applied." I thanked him for being diplomatic - told him that was a very nice way to put it, and he got embarrassed, like nobody had ever thanked him for being sensitive to people's plights. But whether it's a dmp or bankruptcy, it will end. You will come through it. And there's no stigma to it nowadays, as a hell of a lot of people are in the same boat. I decided to tell everyone I knew I was bankrupt, and everyone was very nice.

 

Anyway, bye for now,

me.

[snowdragon]

hi, the nearest branch to us is at least two hours away by bus, we have no transport, it is a joint account btw.They did not give us a list like you have posted and we had to look online at what they actually will accept!.Thanks again