co-op account

[brunswick]

just tried to open a basic bank account online with co-op and was refused............is it best to go into bank and apply in person? had read good reviews that co-op are quite good with people i iva's.
anyone else have any good recommendations? [:)]

thanks

[Shining]

Although I'm not in an IVA at the moment, my credit rating wouldn't have been good and I managed online with Natwest to open a basic account. Might be worth a try, unless they are one of your creditors?

[Martin2011]

I found LTSB very good, opened prior to entering IVA, but did go in in person and explain circumstances. No problems since...

Martin

[emma_t]

Hi brunswick

I opened mine on line but this was pre my iva.
Check it was the basic account you applied for as in an iva this should be fine, if not pop into a branch and talk with them, you should not have any problems at all.

I have found the co-op to offer an great service in branch, on the phone and they have a great internet banking site.

[debbiw]

I've got the Nat West Step account which is a basic account, but it's fine, and the internet banking is fab x

[cr15py]

I did exactly the same as Martin, and LTSB have been great with me as well.

[Skipper]

If the basic Co-op account is refused it is to do with address verifcation on your creditfile.

They have to verify your address by Poll or according to Experian.Stupidly they would ignore even your address and name on your driving licence.

"Always think outside the box"

[Adam Davies]

Hi
The Co-op do ask for income and expenditure details even on their basic account,I do wonder if this plays a role in acceptance or not ?
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[wen]

You *CANNOT* apply for a basic Co-op account online.

It must have been a standard bank account you applied for.

Either call them and say you recently applied online and need a basic Cashminder account instead, or go into branch and explain.

The problem with applying for accounts online is that it is all do through computer systems running programmes with code such as:

If x=black, then result = approved
or if x=white, then result = declined.

In otherwords... computers make decisions in a black and white fashion, where as a real person putting the application through and forwarding it to the referral department will be successful.

I applied over the phone, told them I was going BR soon, and they said no problem. It was then referred but I called back 2 days later and it had been approved.

[wen]

I do agree with what Andy says though about income/expenditure. I would never recommend to lie to a bank, but it may be advisable to make sure your income is higher than your outgoings!

[Skipper]

Wen,

About your point above....If you're on an IVA your Income/expenditure would break even would it not?? Monthly income minus IVA payment then minus I/E equals not much left??

I don't under this Co-op stance on this I/E issue as no OTHER Lender adopt when assesing whether you should have a basic bank account.

"Always think outside the box"

[wen]

True Skipper, having said that, when they asked me, they only asked what my mortgage/rent and council tax was for outgoing, so it's strange for sure.

[Skippy]

I have a Co-op Cashminder account and I was asked for my income details, but I don't remember anything about outgoings. You can open a Cashminder account over the phone, but when I did this they asked me for ID that I don't have (utility bills) so it was easier for me to go into a branch with my passport and driving licence and open the account that way.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[Lapdog]

If the basic Co-op account is refused it is to do with address verifcation on your creditfile.

They have to verify your address by Poll or according to Experian.Stupidly they would ignore even your address and name on your driving licence.

"Always think outside the box"

I applied for a co-op basic account in the branch with ID and everything they asked for but was turned down. No problem with my address as its been the same one for several years and is the same as on poll and registered with Experian.

[Skipper]

Lapdog,

strange?? Inconsistency in how this bank operates comes to mind.

"Always think outside the box"