MattyA Bank Dilemma

[Never-In-Doubt]

Re: MattyA UE Diary

Yea, I think you only need basic funds to open a basic account, usually a tenner is fine.

[MattyA]

Re: MattyA UE Diary

Thanks everyone for your comments - I am going to try and open an account with either Yorkshire bank or Nationwide tomorrow.
y

[Never-In-Doubt]

Re: MattyA UE Diary

Thanks everyone for your comments - I am going to try and open an account with either Yorkshire bank or Nationwide tomorrow.
y

Best of Luck - have you seen this: ---> http://www.moneyadviceservice.org.uk...unts_table.pdf

There are more free guides here ---> Free printed guides : Money Advice Service - Your money


Apologies if it's already been posted - I never checked back ;LOL

[MattyA]

MattyA Bank Dilemma

Thanks everyone for your comments - I am going to try and open an account with either Yorkshire bank or Nationwide tomorrow.
y

Update

Now been knocked back by Yorkshire Bank (after waiting a week for an interview) & Santander.
Any ideas ?

I have opened a account with Nationwide for the Mrs - this might have to do for now.
I dont want to try and open one with them in my name in case it muddies the water for the Mrs.


Matty

[MrsD]

Re: MattyA UE Diary

Hi Matty

Are you sure you applied for a basic account which doesn't need a creditcheck cos you won't be having an overdraft or a chequebook? We got out Co-op one on the phone, the lady asked if we were having financial troubles, I said yes and she said she would do a basic account without any checks. All the stuff popped through the door about a week later and that was in the middle of the Christmas hols last year!
I would ask the Yorkshire and the Nationwide why you were knocked back, I think that there is a statutary right to a basic bank account, regardless of your financial situation.

[5corpio]

Re: MattyA UE Diary

Hi Matty

I don't think it should make a difference as the account your trying to set up is in your Name NOT Joint Name accounts or anything?
Qomeone might be able or can correct me on that if its different statement

I didn't do a appointment at the branch, as i done my Nation online ([size=5]even though i had to chase them which was within a week i recieved Docs to sign for account. The previous papers arrived 2 or so months later as they got stuck in sorting office).

All done within a Week online, papers, Card & Pin number for cash card account (No O/D or Cheque)

Good Luck.....

[Never-In-Doubt]

Re: MattyA UE Diary

I'll move these bank account related posts to the relevant section, however lets clear up a few things being "thrown about"

• 1. A basic account IS scored, within most lenders and yes they do search a CRA (they have to AML)
  2. Although not credit scored, per se, they are scored and one criteria for all basic accounts is "No record of fraud"
  3. A basic account can be declined, as easily as can a full account
  4. The lender will (and does) use a CRA to do identity checks and at the same time they check fraud databases and N Hunter
  5. The lender does not use the derogatory data against you, but if your debts are classed as fraudulent to the bank they will decline a basic account
  6. Read this: ---> Money Made Clear - Bank Accounts Then scroll down til you see the table of lenders that supply basic accounts, this also shows the card etc that you can get

AML = Anti Money Laundering

If you have any queries, then fire away!

gh

[Never-In-Doubt]

Re: MattyA UE Diary

Hi Matty

I don't think it should make a difference as the account your trying to set up is in your Name NOT Joint Name accounts or anything?
Qomeone might be able or can correct me on that if its different statement

It doesn't quite "financially link" you if you open separate accounts however they can link you if they know you're man and wife, ONLY if there is a financial connection. So if you have a joint mortgage or loan, expect to be linked if you open 2 x sole accounts with the same lender.

I'd not worry too much about it, try it and see what they say! No harm and any linking will not matter too much at this point.

[Never-In-Doubt]

Re: MattyA UE Diary

Now been knocked back by Yorkshire Bank (after waiting a week for an interview) & Santander.
Any ideas ?

I have opened a account with Nationwide for the Mrs - this might have to do for now.
I dont want to try and open one with them in my name in case it muddies the water for the Mrs.


Matty

YB usually automatically run a credit check against you PRIOR to allocating a product, they'd have seen your credit file and rejected you without knowing you wanted a basic account. You should ring the branch and query what product they applied for, and request a reassessment of your basic account application. This is called a Ready Cash account with YB

[MattyA]

Re: MattyA UE Diary

Hi All - Thanks for the replies.
FYI - When I went in to see them ,they told me that they had to do a credit check/score
for even the ready cash account.
They didnt need to do this a couple of years ago - but they do now for all accounts.
Anyways ,after 30mins or so of questioning ( for a ready cash / basic account FFS ) she ran the check - It did not reject but did refer which meant she had to ring head office.
This she did & they said no

[Never-In-Doubt]

Re: MattyA UE Diary

Hmmm, this is unusual unless there is suspicion of fraud....?

I'd appeal..... OR just not bother and use one of the others?

[MattyA]

Re: MattyA Bank Dilemma

Cool - thanks Boss.
no further on with this lol.....will keep you posted.
Matty
gh

[MattyA]

Re: MattyA UE Diary

Hmmm, this is unusual unless there is suspicion of fraud....?

I'd appeal..... OR just not bother and use one of the others?

No point appealing - Ive made my bed.....

BTW - No fraud whatsoever....implied or attempted - just up to the eyeballs in the proverbial.

I will go with your 2nd thought....try another.

Thanks for your help.

[Never-In-Doubt]

Re: MattyA Bank Dilemma

With fraud, lets say you had a card with a £5k limit, you owed £100 - then went and blew £4k over the next couple of months - before finally stopping payments and/or CCA request = fraud. Its not fraud like you and I classify fraud, not the legal definistion of fraud - it simply means did you deliberately spend the dosh knowing you weren't going to pay it back.

That can be interepreted differently by each lender...... it's nothing registered against you, it's how each lender interprets your previous account history with other lenders...

Hope that makes sense?

Try a new bank - there are loads that offer basic accounts, as per the link I provided from money made clear. gh

[MattyA]

Re: MattyA Bank Dilemma

Hi Niddy,

Checked out the list ...not many there I am not already linked to or have been knocked back by.
Of those left 2 are in Ireland....which leaves First Trust & Northern Bank.
Will check these out & see who / where they are.
Not chancing Nationwide as I dont want to rock the boat for the Mrs.
Matty