Hi fedup58.

Is it the Co-op "Cashminder" account that you have? This is their basic account which is available if you are in a trust deed (or bankrupt).

We did have similar scenario about Co-op arise in the forum a while ago where they told someone they were going to close their account. Later, when the poster got back in touch with them, they were happy to convert the account to a Cashminder and allowed them to carry on banking with them.

We've been doing some research into bank accounts over the last few days with a view to adding a new page to the site on this subject soon.

From this research the Nationwide Cash Card account seems to be a good possibility. I spoke to them yesterday and they are happy for people in trust deeds to use the account. One downside is that you can only apply personally in a Nationwide branch rather than by phone or online.

Is it a basic cashminder account?

I use co op and told them I was starting a trust deed when the account was opened!

Paul

great minds eh 🙂

ye it`s the basic account with no overdraft , but does come with a debit card, but thats not credit is it , i think maybe i`ll give them a wee call , will let you know how i get on

cheers guys

I think that's the right thing to do fedup58. Hopefully there will have been a misunderstanding at the start and you can convert the account.

The other thing to say is that it is believed that they may have a "three strikes and you're out" policy. By this I mean if you reach a point at which you have had three unpaid payments, or have gone into unauthorised overdraft, they may close the account. I don't know this to be fact but have heard it from a number of sources.

thank you TDA , i havent realy used the account yet so it cant be that , i`ll see what they say

Hi fedup58,
I opened an account with co op a cashminder account with no problems and I told them I was about to enter into a trust deed.

Hi Fedup58

I too had opened a new account for the purpose of my bills and TD (not with the Co-op though) , after I read this post I called them and rechecked to make sure it was ok , I explained the situation and he said he was sure it would be, The Manager is checking this out
and if for any reason there was a problem he would get back to me. I hope you manage to get this sorted out after your phone call .

Kitty

It sounds as if they have given you a current account and not cashminder account. which can be easily rectified by a simple call to them.

When i spoke to someone at the Co-op bank before i went with barclay i was told there is two basic accounts but they work in different ways.

The difference with the two is

A basic current account is opened by a credit check being done and can have services withdrawn at the discretion of the bank if debt's come to light. (Ie: also if your in a trust deed they wont allow you to have this account)i was told that straight away by a representative in the bank. This account is basic you get a debit card and direct debit facility and all that stuff.

A cashminder account i was told is created for the purpose of people who do have debts or have not had a good credit history and found problems in the past getting a bank account. They dont do a massive credit check but do have to verify you are who you say you are. Its a basic no frills account, debit card, no overdraft, direct debit facilities and so on. so co-op suggests if you have had any debt problems in past this account is the best option.

I'd call them and if they say that it is a current basic account just ask them to transfer it to a cashminder account.

Hi

If you have no luck with the Coop, try Barclays Bank - they are great for basic accounts.

update on my bank account guys , you were all spot on , the wrong account had been opened and i actaully recieved a replacement card this morning , there on the ball these banks aint they

thank you all for your help , this forum is invaulable 🙂

That's excellent fedup58.

Glad to hear it has worked out as we thought/hoped it would.

As I have bored on this site befor, my IP got the agreement from the bank I was with pre PTD to allow it to still be operated for the purpose of my salary. Given that the bank was a creditor, they recognised that it was in their interest for me to have an account and made no additional emands on my account given my PTD status.

Good news [:)]

Glad you got it sorted and co op maintained their image as trust deed friendly(unless you owe them money!!!!)

Paul