Do you need a parachute account?

[barracad]

Below is a list of basic bank accounts available for people who need a parachute account, but who may struggle to open a 'regular' current account.

 

The details are in alphabetical order so one bank is not recommended over another.

For ease of reference, the only two which offer debit cards are Co-op (Electron Card) and NatWest (Solo Card). However, I have also included a list of their charges which may sway people who aren't too fussed about a debit card. [Please note charges can change so please check with the bank]

 

 

Abbey

Basic Account

 

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £35

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

 

Alliance & Leicester

Basic Cash Account

 

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Direct debits only

Charge for unpaid direct debit: £34

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarged bankrupt, some bad debts depending on individual circumstances.

 

 

Bank of Ireland

Basic Cash Account

(Only available in Northern Ireland and Eire)

 

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £38

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud, record of bad debts.

 

 

Bank of Scotland

Easycash

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £39

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

 

Barclays

Cash Card Account

 

Minimum age to open an account: 18

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Direct debits only

Charge for unpaid direct debit: £39

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Record of fraud.

 

 

Clydesdale

Cashmaster

 

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £35

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud, some bad debts.

 

Co-operative Bank

Cashminder

Minimum age to open an account: 18

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £19.50

Debit card (Solo or Electron): Yes

If any of the following apply to you, your application may be declined: Record of fraud.

 

 

First Trust Bank

Basic Bank Account

 

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: £10

Direct debits and standing orders: Direct debits only

Charge for unpaid direct debit: Under £35: £22.50; Over £35: £37.50

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud, record of bad debts.

 

 

Halifax

Easycash

 

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £39

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

 

HSBC

Basic Bank Account

 

Minimum age to open an account: 18

Minimum amount to open an account: None

Free buffer zone: £10

Direct debits and standing orders: Yes

Charge for unpaid direct debit: No

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

 

 

Lloyds TSB

Basic Bank Account

Minimum age to open an account: 18 (16-year-olds can open a similar account)

Minimum amount to open an account: None

Free buffer zone: £10

Direct debits and standing orders: Yes

Charge for unpaid direct debit: No

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

 

 

Nationwide Building Society

Flex Cash Card

 

Minimum age to open an account: 16

Minimum amount to open an account: £1

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £30

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: History of fraud.

 

 

Natwest

Step Account

 

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £38

Debit card (Solo or Electron): Yes

If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

 

Northern Bank

Cashmaster - Basic

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £37.50

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarge bankrupt, record of fraud, record of bad debts.

 

 

The Royal Bank of Scotland

Key Account

 

Minimum age to open an account: 18

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £38

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarge bankrupt, record of fraud.

 

 

Ulster Bank

Basic Bank Account

 

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: Under £20: £35.00; Over £20: £37.50

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

 

Yorkshire Bank

Readycash

 

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £35

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischargedbankrupt, record of fraud, record of bad debts.

[Johanna Anna]

Below is a list of basic bank accounts available for people who need a parachute account, but who may struggle to open a 'regular' current account.

 

The details are in alphabetical order so one bank is not recommended over another.

For ease of reference, the only two which offer debit cards are Co-op (Electron Card) and NatWest (Solo Card). However, I have also included a list of their charges which may sway people who aren't too fussed about a debit card. [Please note charges can change so please check with the bank]

 

 

Abbey

Basic Account

 

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £35

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

 

 

Alliance & Leicester

Basic Cash Account

 

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Direct debits only

Charge for unpaid direct debit: £34

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarged bankrupt, some bad debts depending on individual circumstances.

 

 

Bank of Ireland

Basic Cash Account

(Only available in Northern Ireland and Eire)

 

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £38

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud, record of bad debts.

 

 

Bank of Scotland

Easycash

 

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £39

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

 

 

Barclays

Cash Card Account

 

Minimum age to open an account: 18

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Direct debits only

Charge for unpaid direct debit: £39

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Record of fraud.

 

 

Clydesdale

Cashmaster

 

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £35

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud, some bad debts.

 

Co-operative Bank

Cashminder

 

Minimum age to open an account: 18

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £19.50

Debit card (Solo or Electron): Yes

If any of the following apply to you, your application may be declined: Record of fraud.

 

 

First Trust Bank

Basic Bank Account

 

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: £10

Direct debits and standing orders: Direct debits only

Charge for unpaid direct debit: Under £35: £22.50; Over £35: £37.50

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud, record of bad debts.

 

 

Halifax

Easycash

 

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £39

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

 

 

HSBC

Basic Bank Account

 

Minimum age to open an account: 18

Minimum amount to open an account: None

Free buffer zone: £10

Direct debits and standing orders: Yes

Charge for unpaid direct debit: No

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

 

 

Lloyds TSB

Basic Bank Account

 

Minimum age to open an account: 18 (16-year-olds can open a similar account)

Minimum amount to open an account: None

Free buffer zone: £10

Direct debits and standing orders: Yes

Charge for unpaid direct debit: No

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

 

 

Nationwide Building Society

Flex Cash Card

 

Minimum age to open an account: 16

Minimum amount to open an account: £1

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £30

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: History of fraud.

 

 

Natwest

Step Account

 

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £38

Debit card (Solo or Electron): Yes

If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

 

 

Northern Bank

Cashmaster - Basic

 

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £37.50

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarge bankrupt, record of fraud, record of bad debts.

 

 

The Royal Bank of Scotland

Key Account

 

Minimum age to open an account: 18

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £38

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarge bankrupt, record of fraud.

 

 

Ulster Bank

Basic Bank Account

 

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: Under £20: £35.00; Over £20: £37.50

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

 

 

Yorkshire Bank

Readycash

 

Minimum age to open an account: 16

Minimum amount to open an account: None

Free buffer zone: No

Direct debits and standing orders: Yes

Charge for unpaid direct debit: £35

Debit card (Solo or Electron): No

If any of the following apply to you, your application may be declined: Undischargedbankrupt, record of fraud, record of bad debts.

 

 

I asked for a business account at Royal bank of Scotland - the bank account was refused, even that I have no debts, I work properly with my company and I work as a journalist and have no bankruptcy or other bad debts record except this HSBC.

[Johanna Anna]

I would like to have a parachute account for my company, whatever that means. I don't want to work with Abbey and also not with HSBC.

 

What can I do to get an answer, why they refused to open a company bank account?

[Perseus]

Have you thought of checking your credit file?

 

This may reveal that you have something in your past credit agreements (personal) that may be stopping you?

 

checkmyfile.com - Credit reference, Credit file, Credit score is worth a look (amongst others).

 

Hope this helps?

[knognol]

I cant wait to start this ball rolling - I've looked at a number of posts and faqs - but who do i address the initial letter of request of information to? is it to my branch manager or RBS data controller?

[starling]

I think you would get a better response if you posted in the section that covers the company you are claiming from. There are seperate boards for each bank. Here is a link to the template letters that you need. I am new here today so not too sure about much myself. I hope I helped you.

 

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/

[Lakefield]

Hello

 

Am new to all this and just finding my way around. Hope to speak some more later. Not well up on computers

[timbo himbo]

yes how do i get one please reply

[chancer]

Hello all,

 

I'm new to this also - so just saying hello and keep up the good work.

 

Regards,

Patrick

[Perseus]

I cant wait to start this ball rolling - I've looked at a number of posts and faqs - but who do i address the initial letter of request of information to? is it to my branch manager or RBS data controller?

 

 

Hi knognol

 

The first thing you want to do is see what/when/how many charges have been applied to your account.

You need to start a new thread for your particular case here http://www.consumeractiongroup.co.uk/forum/royal-bank-scotland/ and send your SAR letter (1st step) found here http://www.consumeractiongroup.co.uk/forum/bank-templates-library/516-1-data-protection-act.html . Then check this site Information Commissioners - Data Protection Public Register and type in Royal Bank of Scotland in the Name, press enter and check which company name matches the letterheads etc on your statement. It's likely to be here Information Commissioners - Data Protection Register - Entry Details .

 

If you address it to the Data Controller/Data Processing Officer at his address as above, send it special d if you can (for tracking/signature) or at least recorded delivery.

 

If you start your own thread as soon as possible, you'll have support from members on here - all the way!

 

All the best

Perseus

[Perseus]

Hello

 

Am new to all this and just finding my way around. Hope to speak some more later. Not well up on computers

 

Hi Lakefield,

 

Just take it easy, you'll find plenty of help here, novices to experts alike are getting great results from great helpers on this site.

 

If you start your own thread from the main page, and look for the company you are dealing with (Abbey/MBNA/Alliance & Leicester) etc, just click on the heading, and find the 'New Thread' button - and type away.

Any problems, just ask

 

 

Perseus

[Perseus]

yes how do i get one please reply

 

Hi Timbo

 

Depending on what your assessment of your credit rating is and using the list at the start of this thread - just call into a branch or apply online for 'another' account. The descriptions above will show what restrictions are around for people of lesser credit status. Natwest and Co-op are two that jump out for lesser credit but offer a debit card.

 

Once your new account is set up with/without a debit card, and you have arranged transfer of income and/or direct debits etc to the new one - you're good to go.

 

It is unusual to have an account closed because you are pursuing refund of charges etc - but it has happened. Alliance & Leicester have been pulled up and fined for doing just that, so it may have sent a warning to other banks not to!.

 

What ever your circumstances, if you need help just post here re this topic, or start your own thread for specific help, in the appropriate Bank section here http://www.consumeractiongroup.co.uk/forum/bank-action-group-against/ .

 

All the best

Perseus

[Perseus]

Hello all,

 

I'm new to this also - so just saying hello and keep up the good work.

 

Regards,

Patrick

 

Hi Patrick

 

Wish you well in your pursuits, using this site.

Don't forget, start your own thread in which ever Bank Forum here

http://www.consumeractiongroup.co.uk/forum/bank-action-group-against/ . You'll receive any help or advice needed.

 

All the best

Perseus

[shrike71]

Hi,just joined the group,thanks to barracad for the list of accounts,have been getting more and more disgruntled with my bank for years and now I'm gonna start doing something about it.

[purplepit]

Hi mate,

 

If you can get hold of of a copy of yesterday's Daily Mirror (Sunday 25th) either from the newsagent or from their website, it gives detailed steps to follow,

 

Good luck

[Perseus]

Hi purplepit and shrike

 

Alternatively, there is a fully comprehensive step by step guide on how to reclaim your charges, with full guidance notes and assistance examples/templates etc here on the CAG website.

 

http://www.consumeractiongroup.co.uk/forum/faqs-please-read-these/31460-example-step-step-instructions.html

 

This should answer most/all of your questions, and if you should need any further help, start your own thread and ask a question - plenty of people will assist or try to answer any queries.

 

All the best

perseus

[queenvic]

Can someone please advise me on which one to choose?

[Perseus]

Hi Queen Vic

 

Obviously it is your choice.

In my opinion - reading a short set of instructions from the paper is informative but nowhere near as comprehensive, researched and supported as using the link I posted above.

 

There really is a wealth of knowledge, experience (first hand), case history, template letters, step-by-step guides with if, whens and why-fors here - and with just under 6000 people re-claiming just under £8million on this site alone - I think the figures speak for themselves.

 

All the best, and ask away if you need help!

 

Perseus

[queenvic]

Do i need to open up another bank account before i go ahead with my letter? or Can I send the letter off, & then open up anothe account?

[JulesMUA]

I'd like to know the same as queenvic.

 

Hello by the way, I've never posted on this but I'm very excited by the prospect of getting my money back!

 

My concern is that I have a couple of bank accounts, some debt and a bit of a ropey credit rating so I'm worried that if I ask my bank for my charges and they close my account I won't find anyone to take on the rest of my overdraft. Do they pretty much always close accounts? These doubts are putting me off claiming from my main bank.

 

Any advice would be appreciated.

[Perseus]

"Do i need to open up another bank account before i go ahead with my letter? or Can I send the letter off, & then open up anothe account? :confused:"

 

Queenvic - it would save time and potential worry.

The Banking Code, and a recent case against Alliance & Leicester should disuade Banks from retaliatory action (closing accounts etc) and although in principle it shouldn't happen - it can without too much warning. Especially if they believe that there is a breakdown in the 'relationship' or if they tell you that you have 'breached their terms and conditions'.

 

Probably best to apply for a new account asap, then on confirmation - send of your first letter (Subject Access Request) recorded del if poss.

 

JulesMA - Hi!

As stated above, it's not that common for account closures, but it has happened. If you have any reservations, best to try for a new account first - rearrange your direct debits etc, and send off your Subject Access Request. If your overdraft is equal or less to your total charges - you'll have an opportunity to clear your overdraft and it will cost you some patience, £10 for your SAR and some letters/stamps.

 

You'd both be well served by starting your own thread in the Bank Charges section under whichever bank you're with. That way, you can update your situation, ask for help, and receive some experienced guidance from members on here.

 

Wish you both well.

If in doubt ask!

 

Perseus

[JulesMUA]

Thanks for all your help. I'll have a closer look at your bank account list!

[scott1e]

Hi I'm a newbie to this my name is scott1e and I was woundering if I could get a reply?

[Perseus]

http://www.consumeractiongroup.co.uk/forum/faqs-please-read-these/

This is the very first step in helping yourself, and how to ask others for help!

 

Welcome Scott1e - have you already posted a question before or are you just introducing yourself.

 

Either way - there's plenty of help on here, any questions (making sure you've checked out the Frequently Asked Questions link above) just fire away.

 

Would be good to start your own thread on the main 'Reclaim bank Chrges page - then other members can help and advise specifically on your situation.

 

All the best

Perseus

[Cornucopia]

http://www.consumeractiongroup.co.uk/forum/faqs-please-read-these/

This is the very first step in helping yourself, and how to ask others for help!

 

Welcome Scott1e - have you already posted a question before or are you just introducing yourself.

 

Either way - there's plenty of help on here, any questions (making sure you've checked out the Frequently Asked Questions link above) just fire away.

 

Would be good to start your own thread on the main 'Reclaim bank Chrges page - then other members can help and advise specifically on your situation.

 

All the best

Perseus

 

P, you're a bloody star! Full of lovely and welcoming advice and giving the mods a break too!

 

I said I'd look and I think you have found your niche!!!

 

STAY PUT!!

 

Lots of Love, Corn x:)