Getting a 2nd account - who would you recommend

[colour-me-happy]

Just to update from my previous post....

 

Got a letter from Natwest this morning and they are "delighted" to welcome me!!

 

Even though the account is a basic one it's better than I had because you get a Solo card, I only had an Electron with my current bank!

[intersimi]

Nice one Well done mate.

 

I posted my signed copies back to them yesterday, so it should be a couple of days before I get my good news.

[Sliv]

I did an online application for a Natwest Step account the day I sent my letter to Halifax, that was 3rd March, I received an application pack back from them last week which I returned and this morning my account details arrived

 

And trust me with my current credit rating, if they will give me an account they will give anyone one lol

[TheAnalyst]

Me too, I have a horrendous credit rating and for some reason Natwest were "delighted" to welcome me too, with a very handy Solo card, that really made my day that did as I had to get last months wages paid into my girlfriends account because RBS told me if my wages go in they basically are keeping them to pay the £2200 I owe them (in mostly charges!!!!!)

 

Thing is I have over £1400 paid in each month, if it was not for bloody chequebooks and Switch payments with the RBS that come off sometimes a week after I made the payment I'm probably a pretty good customer to have.

[Bovvered]

Yep - got one of those today as well - NW seem to be a good option for a 'parachute' account

[frodo1]

Hi,

I've gone for the natwest step account as they offer a DD facility as well as the cash card. I'm hoping you can have internet banking with it. I'll let you know. I'm interested in Bookworm's comment about Barclays and paying in before 3pm as this is what I've done before now & they've still bounced DD's all over the place with me and charged me.

Sorry if this counts as a hijacking, still haven't sussed that one yet.

[seylectric]

It's correct that all banks have to offer a basic bank account by law, but these accounts don't include a debit card or cheque book. No charges if you stay in credit but no overdraft facilities.

 

As an alternative for those with a bad credit rating, (especially if you need yo buy online), you MIGHT be able to get a credit card from Capital One. You will only get £200 credit limit AND you have to lodge a £200 deposit for as long as you have the account (so you're not actually getting any credit limit to begin with). After 7 months you can apply for an increase, I got mine upped to £400.

 

The APR is VERY high, 29.9%, so ALWAYS make sure you repay in full, that way there are no charges. You WILL be charged £20 for a late payment and £20 if you go over your credit limit, even by a few pence. Yes, you can fight the charges but better to use the card to rebuild your credit score whilst at the same time ensuring you are not spending more than you can afford to.

 

Works for me!

[richardc]

Natwest Step account gives a debit card.

[jonni2bad]

As an alternative for those with a bad credit rating, (especially if you need yo buy online), you MIGHT be able to get a credit card from Capital One....

 

Agree - I did the same as I found that I was having to pay more for some items if internet ordering was off the menu.

 

Even with their 'promise' of being available to everyone, I still thought there was little chance.

 

Initial £300 limit was raised after 6 months to £600, which I'm sure is more than I will ever need on a debt card.

 

I would also repeat the point above about paying off, in full, every month. I always pay back into the card through internet banking the same day, or next at worse.

[neilloffhagen]

I expect many people here have already seen the Motely Fool site, but it has a list of bank accounts and the various deals they offer:

 

http://www.fool.co.uk/decisioncentre/banking/bestbuys.aspx?NavLoc=TN&NavTo=banking&NavFrom=home

 

From what is said the alliance and leicester account looks good?

 

Neil.

[intersimi]

I have my Natwest Step account now

 

If I can get one, so can you.

[tedblue]

Anybody care to recommend a business account? Please do not say RBS

[pjdudley69]

 

From what is said the alliance and leicester account looks good?

 

 

Just had a look at this account, and I don't think it looks too bad. I also notice that if you refer a friend, both you and the friend get £50 - if quite a few people in here want the same account, maybe it's worth getting together to get the £50's

 

Pam

[BankFodder]

I wonder how they would feel getting the entire userbase of The Bank Action Group as account holders?

[seylectric]

Me too, I have a horrendous credit rating and for some reason Natwest were "delighted" to welcome me too, with a very handy Solo card, that really made my day that did as I had to get last months wages paid into my girlfriends account because RBS told me if my wages go in they basically are keeping them to pay the £2200 I owe them (in mostly charges!!!!!)

 

Thing is I have over £1400 paid in each month, if it was not for bloody chequebooks and Switch payments with the RBS that come off sometimes a week after I made the payment I'm probably a pretty good customer to have.

 

Interesting, since the NatWest are now part of the RBS group. I would personally be very wary of getting an account with another bank within the same group, presumably they have access to each other's database?

 

For those with business bank charges in mind I was told recently that the Halifax are offering 12 months' free business banking, but Alliance and Leicester is not a bad deal at £10 a month. They turned me down, though.

[pjdudley69]

I wonder how they would feel getting the entire userbase of The Bank Action Group as account holders?

 

It's a nice thought isn't it BF? Me thinks it's about time they started paying us for a change :twisted:

[Che]

I thought I would bump this post back up as it took me ages to find it and I would think most folk are looking for recommendations for a decent bank!

 

Those of you that have gone for the natwest step account, how are you finding it etc?

I would like to get a second A/C set up before proceeding with the Halifax and charges as the likelyhood of me not getting hammered again with charges and them closing it is high as im temping at the mo!

[Che]

Quick question, I have looked at the Natwest account and it seems ideal the only problem is that theres only two branches in Glasgow and they are situated in the town and i 'm hardly ever in town so i'm thinking of the hassle of getting in to pay cheques etc.

 

Just wondering are you going for a different bank which may have a branch nearer you?

[seylectric]

Something I meant to mention earlier in reply to the original post. Council tax arrears will not appear on your credit reference file.

[cheddar]

Bump, this question is being asked often so thought I would bump it!

[Tinkerbelle]

Just wanted to say that after having read this whole thread, I applied to the Alliance & Leicester yesterday. They offered me a Current Account with a Cheque Book and Electron card. It is not a basic account, so I am assuming that once I have proved that I can manage a Bank Account properly they will upgrade the debit card. Not that I am too bothered if they don't as I have a o% credit card that I use as a debit card, and that gets paid off in full every month.

 

Anyway, the application process took about 10 minutes. Within 1 minute I had received an email acknowledging my application, and also saying that a decision would be emailed to me within 24 hours. 2 Minutes later I received another email welcoming me to Alliance & Leicester, and advising me that paperwork would be sent out in the next working day post.

 

So all in all - it took me less than 15 minutes to get a new Bank Account.

 

I am well chuffed!

[pootle]

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