Some one I know who is now on an IVA applied for the cashminder account. She got a letter and said it was refused?? Co-op said they only do an ID check, no creditcheck.It baffles her and me.
She applied to Experian and got the creditfile looked into, the names, address incl. the previous one[within the last five yr] was identical to the infomation provided in the application form.
The Credit staff said that if the bank say there is inconsistency in the the name, address given to what is on the file then they can't see it?? Everything is in order. My friend has Passboard and driving licence and can be legally certifies and have opened accounts with other banks with just ID checks.SHE WORKS AS A POLICE STAFF WITH CLEARANCE IN THE SOUTHWEST. So what is the problem??? IT PROVES THERE IS SOMETHING FISHY WITH THE CO_OPERATIVE!! ITS CHECKING SYSTEM IS A SHAMBLES!
I know that your ID is crucial in passing an ID check to get a basic bank account.But if you have Driving licence, and Passport IDs then thats the highest level of proof of who you are. I wrote a blistering letter today on behalf of my friend accusing them of discrimination.
I said to her to forget this bank, and she was going to apply for a savings account as well.Well we know that isn't allowed.
My theory is that they are selective in who they give these bank accounts to [why]?It isn't better than anyother basic accounts, infact they are all just about the same -no Frills!
Last edited by timeforchange on Mon Sep 07, 2009 4:37 pm, edited 1 time in total.
I would have asked for a more indepth answer -just to clarify.
The co-operative are known for having ethical policies and are highly rated with organisations that rely on funding etc. I wouldn't have thought there was anything fishy going on....what are your grounds for claiming discrimination?
As Skippy says, lots of people in IVA's have savings accounts as it helps to budget.
Hi,
My friend is on the electorate register...infact they said to her no id needs to be provided? So they found her on the electorate register.
I know people have got a bank account with the Co-op even discharged Bankrupt.The credit reference staff said that all checks is based on the name submitted for checks like a CAB employers check.
The co-op simply said to her - inconsistency in the info provided to what is on the experian credit file.Even Experant doesn't know what that is?
You think if there is a real problem then other banks will reject too. My friend has 5 basic bank accounts,no one rejection.She has recently applied to the Conventry account with a debitcard and no problems there -that 6 basic bank accounts
The Co-op is doing somthing weird.Oh, tthey say no to savings account now thats another story.
I can emphasis with this TFC, it happened to me 2 years ago, I went into the Co-operative and applied at the branch showed my passport and driving licence. Guess what as it happened to your friend....got rejected...and never got rejected for 3 other basic accounts even from halifax and Natwest my creditors or other savings account.
I did persue it but it was pointless[strangly curious] - even today 2 years later I still don't know what the inconsistency in information to what I provided to what they have as recorded by Experian.
The Co-0p is on some other wavelenght, considering its basic account...forget them I say.
My friend/ex partner uses one for each of the expenses:
Contingency
Rent
Ultility
Transport
....and so on....then she can see what is left every month.If it need to be move money between them when there are shortfalls etc.She is a P/T night school trainee accountant at the moment whist still serving the Police staff ranks. It does sound too many account but it works well...spread the risk of card fraud.
I couldnt get a savings account with coop even though ive got a cashminder account. Couldnt get a savings account with anyone else either. I have been and signed for our local council run savings scheme which was originally set up to help local police force staff who had money troubles. All i had to take was my driving licence and p60 for id and no credit checks were needed as long as i lived or worked in area.It cost three pound to join and is the simlpest of accounts. It took five minutes to fill a form in and that was it.
Last edited by wickerwish on Mon Sep 07, 2009 5:41 pm, edited 1 time in total.
What about a Post Office account? I have been absle to open one of those with National Savings, or maybe I was lucky enough that my credit rating wasn't shattered a couple of weeks ago, as much as it no doubt is today, although they never asked if I was in an IVA, BR, DMP at the time of applying!
Also I have heard about credit unions, although I don't know much absout them other than you can save with them.
7 year IVA completed in December 2016 - there is light at the end of that tunnel
Credit union is what ive joined and they seem great. You can even have your wages paid in as well as having a proper account with direct debits and standing orders.
Sometimes the computer says no and sometimes you have to challenge that. I found the co-op a great help to me in my hour of need and I have a savings account with them.
All banks are prone to this & to be overly critical of the coop is a little unfair, it is no different with loans one bank will say yes & another will say no, at the end of the day the computer for some reason has spat it out! just the way it goes.
Can,t blame banks in a way not letting us open accounts when we have had money problems in the past, but we are trying to do something about it. Things can only get better for us but it seems as though we will have to bide our time. Hoping the next five years go as fast as the last five years.
Last edited by wickerwish on Mon Sep 07, 2009 6:38 pm, edited 1 time in total.
I see what your saying wickerwish & I also can't wait to be debt free but at the same time I don't want to wish my life away! make the best of it is what I say[:)]
