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Getting UK bank accounts
 

im having trouble opening bank accounts here in the Uk, i am currently with 2 banks and i have current accounts in both of them, I have also opened up 2 savings accounts on each aswell, Now i have been reading that savings accounts are not the best for stealth when it comes to the direct debit agreement, all the stealth accounts with savings attached have failed direct debit so far and eventually been closed down? Not saying its related either with it being savings attached, my current account steaths are fine, I have tried opening 2/3 current/basic accounts with other banks but my credit history is bad so i keep failing to open up any more, ive been trying a new bank once every few month but its not happening! What options are left guys?(if any) any help is appreciated :violin:

Re: Getting UK bank accounts
 

Oldie but a goodie thread

http://www.aspkin.com/forums/uk-payp...ccounts-3.html

:ranger:

Re: Getting UK bank accounts
 

Thanks GB for the reply, the last bank I tried was infact smile, I applied for a current account and failed !

Re: Getting UK bank accounts
 

It's always better to look for basic accounts and then explore what else the bank can offer once you have your first account with them

Re: Getting UK bank accounts
 

Gosh, what a shame you did not ask here before applying for a bank account.

We might have given advice that saved this rejection.
Always start with the basics where there are issues such as credit rating.

Sorry to hear.

Re: Getting UK bank accounts
 

Would it be best to leave it for a while again then before applying for a basic account elsewhere ? Yeah I was on here looking up posts and I seen James North recommending smile so felt confident applying for it but it wasn't to be

Re: Getting UK bank accounts
 

I would rather set up another stealth using a basic or current account, I've lost faith in the savings accounts!

Re: Getting UK bank accounts
 

Probably best to wait a while and let your credit history situation cool down artfuldodger, concentrate on nurturing your other accounts and bringing them along. Then try for a basic account in another few months and bring that one along in the same way

Re: Getting UK bank accounts
 

Yeah that's looking like my only option

Re: Getting UK bank accounts
 

There is no need to wait IF you are applying for BASIC ACCOUNTS.

As you said above you were rejected when you applied for a current account.

Current accounts involve a FULL CREDIT check.

Basic and savings accounts for the most part only involve a basic ID check, ie you are who you say you are and you live where you say you live. It does not involve any calculation of your credit worthiness meaning the decision to give you a basic account is not based on your credit score / history.

Go into a bank you have had no prior dealings with and tell them you would like to open a basic bank account. If they try and make you apply for a current account, explain the situation regarding your credit history. Most bank employees will be understanding and help you with your request.

Re: Getting UK bank accounts
 

Is Santander bank ok? I know lloyds is a no go?

Re: Getting UK bank accounts
 

Santander is fine for stealth but as far as I remember you cannot open a basic account with them online. As I said earlier you would be best to go into a branch in person. Have photo ID and proof of address with you.

Re: Getting UK bank accounts
 

I will go into a branch on Monday, I'm with rbos and nationwide just now and already applied with bank of Scotland but been refused with them, who else can I try that's on the high street?

Re: Getting UK bank accounts
 

Can't do Clydesdale either

Re: Getting UK bank accounts
 

Have you tried applying for natwest online, usually if you are declined for a current account they offer you a basic account on screen instead?

But it will only work if you are on the electoral role.

Re: Getting UK bank accounts
 

No not tried nat west, yeah I'm electoral role

Re: Getting UK bank accounts
 

I have just opened a nationwide basic account (cash card account they call it)
I applied online and received a letter to say I have been accepted got sort code and bank account details just waiting on debit card and Internet banking details
I to havent got great credit score!!
May be worth a look ...

Re: Getting UK bank accounts
 

Have you checked your credit score too?

Might help to know recent activity ( if any) as well.


Do that and try again after getting your credit score.

Good Luck

:ranger:

Re: Getting UK bank accounts
 

I recently opened a co-op cashminder basic account online as well, everything came through the post, have a visa debit card with it as well, everything has gone really smoothly with it, Barclays is excellent for stealth as well and can also be opened online and everything comes in the post including visa debit card.

Re: Getting UK bank accounts
 

Yeah I'm currently with nationwide :)

Re: Getting UK bank accounts
 

Yeah I checked it today after I seen what you wrote, my credit score is 1-5 lol not good! Interesting info tho ;)

Re: Getting UK bank accounts
 

Barclays is another I could try :) nice one

Re: Getting UK bank accounts
 

If you have poor credit history avoid making any applications where the Bank will do check as this leaves "footprints" on your credit record. Too many attempts to open bank accounts, credit cards etc will scare off any potential organizations. So the poster who advised you to let your credit record cool for say 6 months to a year was giving good sound advice. You should have no problems to a basic account as these carry minimal risk to the bank. They are intended for people who have poor or no credit history - such as someone who has been unemployed etc since you now have to have a bank ac for your benefit.

Re: Getting UK bank accounts
 

Listen to ebayorbust.

Basic bank accounts are the way to go.
They dont effect your credit score with extensive searches.

All banks are okay to use for this except hsbc as they expect you to have this as your only existing bank account.

Re: Getting UK bank accounts
 

Just opened Nationwide Cash Card account - basic current account. Took me 10 min online!!! My credit score is 399. Good day !!! Yesterday came in Yorkshire Bank branch tried to open basic bank account with them, after 10 mins manager came to me and said: " unfortunately we can't open bank account for you." WTF- it is basic acc... Today opened basic bank account with Nationwide. very easy online.
I am happy !!! )))

Re: Getting UK bank accounts
 

Dont open too many in a short span. Need to give opening bank accounts a break for a bit now :thumb:

Re: Getting UK bank accounts
 

Omg. I have appointment in RBS on next Monday and waiting application form from CO-Operative for cashminder account. James you think need wait couple of months?
Also, am i can open business bank account ( i am self-employed) with low credit score 399?

Re: Getting UK bank accounts
 

That is a lot of bank accounts in a very short space of time. Need to give it a break for a bit.

You can get basic business bank accounts as well, so would be worth you looking into that for a business account.

Re: Getting UK bank accounts
 

Everybody who are struggling should really get themselves down to Noddle, see what how they are doing credit score wise and then take it from there.
Keep the accounts basic and try to take it slowly and surely because in UK... Once it's gone, the bank account is truly gone. We don't have the luxury of VBA so please please please be careful and mindful when starting a stealth operation and please don't get yourself in trouble with too many bank accounts.

I know it's difficult to hold yourself back, but with creditscore being such an important part of everyday dealings over here, it's wiser to take your time and really work on it. Otherwise you might find yourself in a place where banks don't want to give you bank accounts and without bank account, there is no successful stealth operation.

Slow and steady, get your bank account and then build the stealth. In a weird and twisted way it's a great way to learn as well without burning all your bridges. If you can handle one stealth account succsessfully, then you can move on to the next one and so on. Soon you'll have multiple accounts going, without burning your credit score.
If you rush the bank accounts, then rush the stealth accounts... You might lose them all, and that's not a happy place to find yourself.


Take it slow, be extra careful and practice, practice, practice. Then read, read, read and then practice some more.

Good luck and hopefully you can resolve the issues that you are facing at the moment.

Re: Getting UK bank accounts
 

Barclays is the only bank I know that give business accounts including Ltd. Co to people with low low credit scores.

Re: Getting UK bank accounts
 

You need to do more research then, lots of banks will offer you a business bank account despite credit rating.

Re: Getting UK bank accounts
 

really freaky what turns up....

Glad you got a heads up to start repairs ;)