Rejected By Co-Operative

[kallis3]

I do wish someone would educate these people that IVA and Bankruptcy are NOT the same!

[flow13]

When we first started our IVA we applied to halifax for a cashcard account - just the basics so that we could draw out of a cash machine. 12 months later they upgraded our account to include a Visa Electron card. This is great as they are becoming accepted more and more in shops. We have no overdraft and the card is rejected if overdrawn. it suits us, and halifax have been great.

[confussed]

My son petitioned his own Bankrupty in February, 2008. I had wanted to take him to the local Co-Op Bank branch to arrange a Cashminder Account, as soon as the bankruptcy went through.
However he waited four months and then telephoned them to arrange an Account. They wrote saying his Application had been accepted in principle and could he provide ID at the Local Branch which he did.
A few days later a letter arrived advising him the Application had not been accepted. In response (and having read the posts on this thread) I typed them a letter which I sent by "Recorded Delivery" asking why the Application had been declined?
Within days they responded advising that after reconsidering the Application it had now been accepted and could he provide evidence of ID.
He promptly telephoned them and asked why they had originally declined the Application and now had a change of mind. He was fobbed off with it was probably due to the Credit Check - which he pointed out that due to his bankruptcy he wouldn't have expected to pass a check. They then said it was probably something to do with the address??
I think what it boils down to, is they have left themselves open by offering Cashminder Accounts to anyone "provided they haven't committed fraud". As a result those entering or in IVA's and undischarged/discharged Bankrupts are applying to them and as they are not making anything/much in charges/overdraft fees, thus the reason for initially declining applications.
My advice it "not to take it lying down" and write by Recorded/Special Delivery, then they have to respond.
Good Luck to those who have so far been unsuccessful in opening Cashminder Accounts!!

[Jan01]

Although I take full responsibility for my debt as everyone else is on this site. All I ask is that I am treated fairly I don't want an overdraft or any form of credit just a working bank account that I can draw out my money when I need to and not have to plan in advance.

I think you are right Confused the banks are no longer making any money out of us as we are now responsible customers so don't want us.

I have a Tuxedo card but that is hit and miss in where i can use it. The Co-op cash machine in the village won't accept it but the Co-op shop will?? I have just tried to pay for something on line and the card has been refused although there is money on the card.

Jan

[confussed]

My advice Jan is to apply to Co-Op for a Cashminder Account (not a Current Account) and if they decline your application, follow the same pattern as I did for my son.
I had arranged a Tuxedo Card for my son as well, which has got by with for the past couple of months, but of course there is no facility for Direct Debit/Standing Order, thus the necessity of the Cashminder Account.

[Jan01]

Thanks Confused

I will try the co-op and see what they say. We didn't try the Co-op as one of creditors were Co-op credit card and I wasn't sure if we would be accepted. Now I am feeling stronger and can accept the rejection I will give them a try.

Jan

[confussed]

Oops!!
Sorry Jan, I hadn't realised you owed money on the Co-Op Credit Card. In that case, it has to be Barclays Cash Card Account. Same thing applies - don't accept no for an answer!!