Do I have to disclose second basic account, set up to save each month no matter how small ?

[00hoopz00]

Thank you Sharon.10 and Longslog101 I'll check into those.

[00hoopz00]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by longslog101

00hoopz000

Cashplus do a pre-load MasterCard that comes with a sort code and bank account number, it has no crdit facility so is not on your credit file. you can pay cash into this at any post office and people can transfer funds to this. There was an offer on it for no annual or transaction fees, have a google and see if its still available.

There was a point when some on this forum were discussing a certain firm who were getting funny about savings.

If you do your shopping each week and have £5 left and deposit it into said account that is no different than putting it in a box under the bed (more secure though). I would personally just not do any electronic transactions to/from the account and your account that you have to submit for review as not to draw attention to it. One shouldn't have to think like this but if some firms are getting excited about your hard earned savings why even bother drawing attention to it, in my personal opinion.

Alternatively you could ask your folks to sign up for such an account for you and give your the details and the card and you use it, there are no branches everything is online.

I use this as my main MasterCard account now so I can do transactions online that are not linked to my debit coop cashminder account, I have been very happy with it.

What if I have a cheque to deposit? Is this possible?

[hubert]

I second the CashPlus comment.

It does indeed have a sortcode and account number and you can transfer money to it just like a bank account.

But it's not a bank account, it's a pre-paid card, there are no statements etc...

It's a pretty good way to handle these extras. I use mine for eBay transactions etc...

Not that I have anything to hide, just keeps the main current account clean and tidy.

As far as I know you cannot deposit cheques into a cashplus prepaid card account.

[lifenoteasy]

Secure trust account you can but there is a £12.5 a month charge.

[Lisa Thomas]

I think a review of your contributions may well be in order. What assets do you have - do you have your own home with equity? How long do you have left on your IVA?