Do you need a parachute account?

[skeetonwarde]

The yorkshire bank have started to offer a maestro debit card (not solo) with their basic 'readycash' bank account. It doesnt come with a cheque guarentee card. I thought it would be a solo card, but a friend got one and it is a full maestro card, just no cheque g symbol on it.

[cariad mo brwydrwr]

I tried to open an a Step Account with NatWest as my parachute account and got this letter:

 

Dear Miss Lucyec,

 

Your recent account application

 

Thank you for your application for a Step account.

 

We regret that on this occasion we are unable to help you. As responsible lenders we carry out a number of standard checks after you have signed the application form. Following these checks we have found that you do not meet the required criteria to open an account. Should your circumstances change in the future, we will be happy to consider a fresh application.

 

If you have any questions please feel free to contact your local branch.

 

I thought anyone could open a Step account? Does anyone know what exactly the criteria is for opening one? I was fuming when I got that, and there was no number on it for me to call or anything! I'm not asking them to lend me anything, so what has being 'responsible lenders' got to do with it?

[sally18]

crikey! I am surprised...never known that happen.. perhaps try speaking to your local branch?

As for responsible lender - thats bank talk for your credit rating is not 110% perfect!

 

good luck

 

sal

[cariad mo brwydrwr]

Thanks Sally, I'm going to try and make an appointment today to talk to someone about it. I know my credit rating is terrible, but as they aren't lending me anything I didn't think it would affect it! Anyway... we'll see how it goes, I'll post back with what they say in case its of any use for anyone else.

 

EDIT:

2pm. Just come back from the branch, they couldn't tell me any more. They lady just said they're not obliged to open an account and they at the branch don't get told the reasons why someone is refused, I'll have to get back to the person who wrote me the letter. Thats all. I am non the wiser. As much as it annoys me, I can't be bothered to fight it any more. I'll try some other banks maybe. If not, I just have to hope my account doesn't get closed.

[bokonon23]

I have just been turned down, without a reason being given, for a Cooperative Bank Cash minder Account.

 

I have a dreadful credit record, but I have certainly nothing I would call a 'history of fraud', I have never been declared bankrupt etc.

 

Can anyone advise me of a bank account that I can set up, which will handle DDs and SOs and which will definitely accept me?

[Nelly370]

I have just been turned down, without a reason being given, for a Cooperative Bank Cash minder Account.

 

I have a dreadful credit record, but I have certainly nothing I would call a 'history of fraud', I have never been declared bankrupt etc.

 

Can anyone advise me of a bank account that I can set up, which will handle DDs and SOs and which will definitely accept me?

 

 

Bumma !!

 

I was going to try Co-Op on Monday

 

I'm in the same position with NatWest. They turned me down yesterday.

 

I'll be watching with interest for any answers.

 

I think I may have left it too late to open a "parachute account"

 

I had a Post Office one, but when I went back to work, they told me that only DHSS could pay money into it

 

 

All I want is somewhere to have my wages paid in, that I can get to, where ever I happen to be in the country. (Truck driver - live in the truck Mon-Fri)

 

The DD/SO etc not that big an issue, but would be handy.

 

I did manage to open a basic account with a Building Society - but my employer's payroll system couldn't handle all the numbers involved with the account detail :?

[furndire]

goodness that was quick, thanks for all replies.

[jdonaldson]

Just about to start court action against Nationwide and they are closing accounts

 

Have a bit of a problem as have had lots of different accounts over the last few years as ahve moved when they have annoyed me or given bad service. Also ahve a terrible credit history due to old stuff paying off through payplan. So halifax, a & L and ulster bank are out, so are many others due to being in NI. Doesn't leave a whole lot that aren't the NI banks (wouldn't go near them!)

 

Actually still ahve my halifax account and only have another £23 to pay back to them fromabout £500 I owed many years ago - wondering if I went to see the 'bank manager' would they let me use it as a basic account or not as it is not an active account. Would actually like to go back to them for handiness..

 

Any thoughts?

[MARTIN3030]

Do you know that the Halifax account is still open ?

Its strange that they have not sent it to collections if theres a debit balance there that is outstanding for some time ?

[jdonaldson]

I think it is actually with castle collections and been paying them regularly for about 4 or 5 years...

 

But still being sent statements from Halifax for the account showing the payments going into the account. And was able to sign up for internet banking with the account number - so they still ahve it, jsut not as an active account I think where I can take money out or arrange an DD's etc.

[MARTIN3030]

Yes I see I think Castle is their in house collections.

Well you would have nothing to lose by asking about it.

 

I would do that anyway as there may be closure once the balance is paid.

Though they would have to issue you with a termination notice.

This is an unusual arrangement,as accounts are usually defaulted and sold off,but presumably you had an arrangement with them to repay the arrears ?

[jdonaldson]

Yes have an agrangement through paypaln - so jsut assuming that as Iam still getting statments it must be still on their sysem - will give it a go, I guess maybe jstu ring their call centre first and ask to make an appointment and see how that goes!!

 

Cheers

[angeljen]

Basic accounts are less demanding for criteria but the ID and proof of address criteria is the same for all banks.

 

I have a question... What are you to do if you only hold a provisional driving licence? No passport. How on Earth can I open a bank account?!

[puppylove]

Is there a list of banks that would let someone with poor credit have a switch and cheque book account? I would not be able to cope if I had to rely on cash if the banks close my accounts! cash never stay in my purse wheras with switch i am far more in control with my spending.

[Guest Mumofthreeboys]

Try this

 

http://www.consumeractiongroup.co.uk/forum/general/13832-do-you-need-parachute.html

[penntopaper]

what is a parachute account?

[JonCris]

Its a fall back account you'll probably need when they close your present one out of spite cos you have recovered their unlawful bank charges & they just hate losing.

[honeygie]

hmm. reading some entries made me think.. as i am advised to open a new account to start fresh... what if i get turned down due to poor credit history? gosh... makes you feel so small and really bad, isnt it? well, fingers crossed, come pay day.. i will shop around for a new bank.. natwest seem to have fairly good recommendations from most of the entries here... halifax has got a moneyback account it calls or something like that on their website where you get a certain amount back everytime you use your card to pay something.. well, that is how i understood it at the moment... hope more guidance about parachute accounts please.. thanks..

[Delboy01]

Does anyone know if the Nationwide has any links with Barclays?

[craigamc]

Dont think so! Why do you ask?

[breadline]

I'm on reduced payments with Lloyd's loans and im out of work at this time but Nattwest didn't want the details, I'm on a very basic account which i want, but it can be built on over a few months once wages are paid in a few times I'm sure they would upgrade.

 

I felt a great relief when i opened up my NatWest account even thou it is not in great use at this time, i just felt as if i had got away from Lloyd's and proved to my self I'm not as down and out as they made me feel and now i had a key to my future with out LLoyds having to be a part of it.

 

Go get an account even if its just for the moral boost:D

[jdonaldson]

Turned down for an abbbey account today, can't go to Halifax A & L and nationwide will be closing my account soon :o/

 

Also in NI and won't go toany of the banks here as they are rubbish..

 

Anyone with bad credit had any luck with HSBC or Co-op, don't want to keep applying and getting turned down as only going to add more bad things onto my credit score

 

Also natwest and others not in NI are out..

[jdonaldson]

HSBC are out then, phoned and even for the basic bank account they credit score...

 

Anyone know the facts about basic bank accounts and if the banks have to give you one, or who you can contact if you are basically going to be left without a bank account to pay wages into

[JonCris]

As a temp measure & assuming you trust them get your wages paid into your spouse/partners bank account.

[jdonaldson]

Thanks but don't think that is an option as I am paid by cheque and don't think work would do that, also I ahve all the bills coming out by DD of my acount for everything!