Hi Bravator.

I hadn't heard of Ffrees so I just took a look at their website.

My initial impression is that the account seems to be aimed more at working in conjunction with a main bank account rather than as a main bank account.

There's also a fairly long list of charges that, depending upon how you use the account, could add up to a chunky sum of money.

These types of account certainly do have a place though given that so many of our major banks appear to take little or no account of what many would consider to be their social responsibility to be more inclusive.

Not registered or regulated by fca. No thanks. Plenty other better less gimmicky options out there.

Paul

Hi Bravator,

Thanks for your interest in Ffrees Family Finance; we would like to give you a little more information about Ffrees to assist in your decision as to whether a Ffrees Current Account is for you.

Ffrees was been set up to offer everyone in the UK a Current Account, this includes people who are currently unable to get a bank account.

We have designed our service to allow our customers to manage their budget without living outside of their means, with the added bonus of earning money back on everyday expenses at over 1000 Ffrees Retailers online and in store.

We do not offer credit facilities, so our customers cannot get into debt with our account; not offering a credit service allows us to offer a Ffrees Current Account regardless of whether or not our customers have bad credit, previously filed bankruptcy or cannot open a bank account. Once we can verify your details, you will be offered a Ffrees Current Account.

We offer three different types of Current Account, structured around the needs and requirements of our customers; each account has different benefits and different charges. I have attached a link below which compares the three Ffrees Current Accounts:

(link removed)

I have also attached the terms and conditions for all three accounts below:-

Ffrees Family Account:

(link removed)

Ffrees Plus Account:

(link removed)

Ffrees Premium Account:

(link removed)

The Card supplied with each of the different Ffrees account is provided by Contis Financial Services Limited, which is authorised by the Financial Conduct Authority to issue E-Money (Firm reference number:-90025). Contis Financial Service Limited handles all financial transaction conducted by our customers. You can find more information about Contis Financial Service Ltd within our terms and conditions above. If you would like to know more about our service and how it can benefit you in the long run you contact our customer support team at (email address removed)

Hi Bravator,

Welcome to the Forum - we were also unaware of the Ffrees Account, although it sounds very interesting from the comment above from Ffrees.

Unsure whether they provide Bank Accounts for Insolvent clients or not.

Regards

David T

Hi Niall.

Thanks for adding this information to this forum thread.

We do ask that members don't post links and contact details so I've edited your post. The web address will be removed from your signature in due course also.

Obviously if anyone wants to read more about these products it's very easy to do so by putting "Ffrees" into a search engine.

Fees everywhere you look and not covered by fscs.

Not for me thanks.

Paul

Hi Bravator - I got an account with Coop with no problems. The product is called "Cashminder". It comes with direct debits, VISA debit card. Service with them has been very good.

Hi CIF,

I have just received my card for the co op bank and i have just noticed that it may not be accepted by some retailers or online if they cannot complete a real time check on funds. I have seen this notice in some pubs and shops that they dont check with your bank if your funds are there.

Does anyone with this account have any problems shopping and are you restricted to where you can shop??

Thanks

louise

Hi

I have also registered for online banking tonight with Co op and was set up immediately. With Nationwide I had to register last week and I am still waiting on them sending me a code to log in.

I have opened both accounts with no problems. Thought it was better to have the two as the comments previously on this site advised this, just in case the Nationwide go a bit funny if they find out Im going into a TD.

Louise

Hi Luby, I have had the odd problem using it online but that's been about three times in four years. I must admit though that I tend not to use my card for purchases much. Since I signed my TD, I have been dealing in cash where possible. Found that it concentrates the mind in terms of how much money you have left[;)]

I would have thought that all VISA debit cards are the same but maybe another poster could answer on that point.

I havent had any problems in 5 years using my cashminder card.

Paul

My husband and I both have a Cashminder account and have had no problems whatsoever. I keep a spreadsheet of all my card spends and update it daily whilst checking my online account also daily to see what payments have came out and what I have left to spend. I would recommended Coop Cashminder although they would not let my husband open a savings account, must be a risk for him to save money with them for some bizarre reason, but Yorkshire Building Society let him open an online account so all is good.

Hi guys
We have the coop cashminder account but wanted to upgrade to a proper current account, the cashminder card states it's a visa debit but in reality it is an electron and that is why some places don't accept it, have had no issues personally the only thing we can't do is use the pay at pumps in morrisons for petrol.

Thanks bravator

Always been baffled by this real time authentication thing. Would have though it an easy automatic check for banks to set up? Does it mean if your bank is closed then the check can't be made?