The Co-op is fine - they do have a policy of 'three strikes and you're out' but if you can manage your budget then you'll be fine.
Paid for accounts are fine if you can get no other but it does not encourage you to budget at all and it costs. I certainly wouldn't touch an account that doesn't do direct debits as most of our payments are via that method.
Can't understand why you would want to change a standing order twice in a week?
Let us know how you get on with the Co-op Jayne - I'm sure everything will be fine.
I would have stayed with the Co-op if I didn't have a full bank account with Nationwide from before my BR. The chequebook is useful to me so I changed accounts.
If you go overdrawn 3 times with the Co-op they will close your account. I found it made me more careful, which can only be a good thing!
Just that yesterday morning I checked my wages had been paid in,which they had, then drew some money out
when I got home I checked my statement and I was down as overdrawn. I rang Co-op up querying this and they said it was ok,but they list the debits for the day before the credits,I asked if I would get in trouble for this and they said no. I'm just wndering i anyone else has noticed this?
dunynuts - it seems to happen with all their types of account - they deduct DD /cash withdrawal then add the credits (wages/transfers) later in the day - as you have, i also have rung a few times and they confirm its the way their systems work
Last edited by ginger3232 on Wed May 16, 2012 2:25 pm, edited 1 time in total.
Don't worry about it Dunkynuts, the same thing happened to me each month. As they said it's because they list the debits before the credits so it will always happen.
The three strikes policy is more to do with direct debits bouncing because the money isn't there etc.
Hi, well Ive been to Co-op bank today and applied for the cashminder account. The man that dealt with me was really understanding and thanked me for being honest about my financial situation. He said I can ring the branch on tues and they might have my account details for me by then woo hoo!!!! Ive rang my work and informed them that I will be giving them new account details as my wages are due to be paid in next fri, only for them to tell me they need 3 weeks notice to change my details!!!!!!! Surely its only a matter of pressing a few buttons? Or am I being naieve lol.
Tracey - it depends on the size of the payroll department, some places have a "cut off date" for changes etc (usually a the first two weeks of previous month) - it may be on that date you need to withdraw either by fast transfer or cashpoint withdrawal/or both all the cash you need for the month
I opened Barclays account whilst in IVA, got everything in the branch there and then, even £10 reserve which is like an overdraft. The good thing about Barclays is that if you pay the cheque in, you can draw against it straight away without waiting for it to clear. Obviously, if you are sure if won't bounce that is. Also, their cash machines give you £5 which is kind of cute and handy for me as I top up my Oyster usually with £5 credit
Hi, I applied at Barclays sent my application form off with id, which was then checked and returned, they needed extra id so I sent this off which was then checked and returned with a letter saying we will be in touch within 2 weeks. A week went by so I rang them to see how my application was progressing and the told me I wasnt on their system, they had no record of me applying at all, crazy!!!!!
just goes to show now inconsistent banks are, why would it take 2 weeks anyway for a basic cash account for the purpose of the salary going in. I have to say that Barclays call centers are a bit of a joke but my experience in the branches was always positive
