Savings Account with ChequeBook & Debit Card

[MattyA]

Re: Savings Account with ChequeBook & Debit Card

I will have a proper look at this - Is money deposited covered, as with high dtreet banks, if the bank goes belly up?

Thanks for the answers peeps - I know it is a mad question from someone in my position , but Niddy knows the reason why I ask.

Matty

[PlanB]

Re: Savings Account with ChequeBook & Debit Card

It is possible to run as a main account however you may get charges so please be warned - BUT it is handy to set-up just to get yourself the facility of a full on debit card, a cheque book and a credit card.

Credit cards vary from £500 to £15k limits.

best of luck everyone

Slow response to your useful tip-off due to time spent on Google trying to source Baroda (I must have been off school that day and missed a vital geography lesson). If they've got more than 3,500 branches in India they must be getting something right. Only a few here in Soutthal, Wembley, Whitechapel and Burmingham - so hope they don't smell a rat when we all apply with obvious Anglo-Saxon names.

Do you know whether they report or file customer performance to Exquifax, Experian and Call Credit? Savings accounts are not normally on the CRAs.

[swanfan]

Re: Savings Account with ChequeBook & Debit Card

The limit is £85,000 for an individual.

£170,000 for a joint account.

Safe savings advice: Compensation rules | This is Money

[pompeyfaith]

Re: Savings Account with ChequeBook & Debit Card

Should be up to £250,000 as the limit was raised

[Never-In-Doubt]

Re: Savings Account with ChequeBook & Debit Card

I will have a proper look at this - Is money deposited covered, as with high dtreet banks, if the bank goes belly up?

Yep, as far as I know....

Its a normal bank

[MattyA]

Re: Savings Account with ChequeBook & Debit Card

I will have a proper look at this - Is money deposited covered, as with high dtreet banks, if the bank goes belly up?

[Never-In-Doubt]

Re: Savings Account with ChequeBook & Debit Card

Shameless bump to get this back to the top so it gets read more!

[Never-In-Doubt]

Re: Savings Account with ChequeBook & Debit Card

Forgot to mention, DO NOT apply for their credit card for at least 6 months of using their savings account as a main account. Obviously it means forgoing Direct Debits (if they do charge - this is unconfirmed by me) - however you can pay cash and/or use cheques.

It is possible to run as a main account however you may get charges so please be warned - BUT it is handy to set-up just to get yourself the facility of a full on debit card, a cheque book and a credit card.

Credit cards vary from £500 to £15k limits.

best of luck everyone

[Never-In-Doubt]

This thread is to assist those that want a fully functioning credit type account, without the credit scoring/declines that usually follow suit to people that are in debt.

We aim to source and notify you of all suitable products that is relevant to you, as a debtor, to allow you the opportunity to get back onto the credit ladder. The following account has been tried and tested and verified as genuine - with no credit check (so long as you select the correct account type).

Ok, so what is this bank and how do you get yourself a full account, with chequebook?

It's simple - go here: ---> Bank of Baroda » Retail Banking » Deposit Products » Savings Accounts

* Note - you are applying for a savings account - NOT the current account [more on this to follow shortly]

See the perks here:

• Simplest deposit option for hassle free operation
• Easy to understand Terms and Conditions. No hidden costs or fine prints
• Account can be opened with a minimum balance of GBP 100
• Account can be opened in GBP, USD and Euro currencies
• Interest is paid every six month - 1st June and 1st December
• Your deposits are guaranteed under FSCS
• Operations from any of our nine branches in UK
• Cheque and Cash deposit facility at all Natwest branches in UK
• Free remittance facility in Indian Rupees to Bank of Baroda branches
• Free cheque book facility
• Free Visa Classic debit card and add-on cards
• Facility to view account balance & transactions over Internet
• Facility to set-up Standing Instructions for remittance and transfer of funds
• Facility available to open joint accounts
• Facility available to mark mandate
• Provision to forward paper based statements every month / six months even if there are no transactions

Ok, so you'll need to know a few things first.

1. This account needs to remain with £100 balance otherwise you are charged for things, so it can be expensive but so long as you leave £100 credit at all times then it is free to spend using cheque and/or your debit card and free to BACS a credit into the account. If you use Natwest branches and expect a whole host of other features then the charging to this account may outweigh the positives.
2. The account is NOT credit scored, they use GB Group - Identify Customer Records to identity check you
3. Here are the charges relative to the savings account ---> Bank of Baroda Service Charges

So, as you can see from the above - a regular saver can now have a full bank account.....

There are only 10 UK branches BUT you can pay in etc at NatWest branches if you want (fee payable I believe). You do get a full debit card and you get a chequebook. You can also, after holding the account for at least 6 months, apply for their credit card which is given preference to existing accounts - apply using the following form: creditcard-1.pdf

You also need to open it via post as detailed here:

(1) Identity Proof
(any of the following documents)

• Passport
• Full UK driving license with photograph
• Govt. Employees photo ID card

(2) Latest Address Proof
(any of the following documents) - Not earlier than three months period

• Utility bill viz. Gas, Electricity, Telephone (Land Line), Water Council Tax Notice/Bill
• Rental Agreement with Land Lord
• Latest UK Bank statement

(3) Additional Document

• Proof of income, if requested
• R-85 declaration, if exemption is requested from UK tax on Interest income
• Telecommunication Mandate, if the instructions are to be accepted on the fax message
• Any other document as deemed necessary by the bank official

That's it - apply for this and you'll be able to look and feel like a regular person using cheques and a full visa debit card.

Point of caution, DO NOT apply for their current account as it is a load-bearing account (basically you pay for each transaction) - thus stick to the savings account, it offers the same facilities but it is free!

Any queries, give me a shout - I have spoken to their head office and had all the above confirmed, they say upon receipt of the forms they will ring you within 48 hours and discuss the account - they have your best business interests at heart and do not hassle you.

Their card, looks like this:


Best of luck, and enjoy


* If anyone applies please post details below.......