WeX Posted April 1, 2013 Share Posted April 1, 2013 Just a quick one. I have just applied for a bank account with Nationwide. Of all the info I gave they have refused me. Now I know there is one negative item on my credit report that I am having trouble removing. Its a loan that vanished from HSBC many years ago and after 2 years worth of asking where it was, it turned up with a recovery agency who immediately registered it as defaulted. Its paid off now but is still sitting on my credit file as a defaulted item, much to my annoyance. Anyway, back to my question. I thought banks had to offer their most basic accounts to anyone. I'm not interested in overdrafts any any other forms of credit but I have been refused their FlexAccount (which is their most basic account listed). Does anyone know if what I thought is in-fact correct? Link to comment Share on other sites More sharing options...
FACEBOOK Posted April 1, 2013 Share Posted April 1, 2013 I don't think they HAVE to offer you any type of account. They can surely turn away business they deem to be high risk or fraudulent at their discretion. Not saying yours is either. You should be able to get a basic account with one of the major banks. Are you just applying online or are you taking all your info in and speaking with someone? If this proves impossible, you will be able to get a paid for account where you pay maybe £9 per month. Use this to re-build your credit and then move to the bank of your choice after 6 months or so. However, I would have thought you should be able to get a basic free bank account with a little effort. Failing that, check your credit report isn't worse than you think or incorrect. Get your actual credit score. Link to comment Share on other sites More sharing options...
Cyclone Posted April 1, 2013 Share Posted April 1, 2013 http://www.moneysavingexpert.com/banking/basic-bank-accounts Have a read. Link to comment Share on other sites More sharing options...
Timmmy Posted April 1, 2013 Share Posted April 1, 2013 Just a quick one. I have just applied for a bank account with Nationwide. Of all the info I gave they have refused me. Now I know there is one negative item on my credit report that I am having trouble removing. Its a loan that vanished from HSBC many years ago and after 2 years worth of asking where it was, it turned up with a recovery agency who immediately registered it as defaulted. Its paid off now but is still sitting on my credit file as a defaulted item, much to my annoyance. Anyway, back to my question. I thought banks had to offer their most basic accounts to anyone. I'm not interested in overdrafts any any other forms of credit but I have been refused their FlexAccount (which is their most basic account listed). Does anyone know if what I thought is in-fact correct? How strange ! Link to comment Share on other sites More sharing options...
gnvqsos Posted April 1, 2013 Share Posted April 1, 2013 Just a quick one. I have just applied for a bank account with Nationwide. Of all the info I gave they have refused me. Now I know there is one negative item on my credit report that I am having trouble removing. Its a loan that vanished from HSBC many years ago and after 2 years worth of asking where it was, it turned up with a recovery agency who immediately registered it as defaulted. Its paid off now but is still sitting on my credit file as a defaulted item, much to my annoyance. Anyway, back to my question. I thought banks had to offer their most basic accounts to anyone. I'm not interested in overdrafts any any other forms of credit but I have been refused their FlexAccount (which is their most basic account listed). Does anyone know if what I thought is in-fact correct? All banks must offer a no frills account,but remain able to reject the unworthy. Link to comment Share on other sites More sharing options...
Joe Momma Posted April 1, 2013 Share Posted April 1, 2013 Nationwide is still a Building Society, they never converted into a bank ... Link to comment Share on other sites More sharing options...
gnvqsos Posted April 1, 2013 Share Posted April 1, 2013 Nationwide is still a Building Society, they never converted into a bank ... Yet they offer bank accounts. Link to comment Share on other sites More sharing options...
WeX Posted April 1, 2013 Author Share Posted April 1, 2013 I don't think they HAVE to offer you any type of account. They can surely turn away business they deem to be high risk or fraudulent at their discretion. Not saying yours is either. You should be able to get a basic account with one of the major banks. Are you just applying online or are you taking all your info in and speaking with someone? If this proves impossible, you will be able to get a paid for account where you pay maybe £9 per month. Use this to re-build your credit and then move to the bank of your choice after 6 months or so. However, I would have thought you should be able to get a basic free bank account with a little effort. Failing that, check your credit report isn't worse than you think or incorrect. Get your actual credit score. Getting more credit isn't what I need to help my rating, I already have 2 over drafts (not used) a credit card and a car loan, all of which are kept perfectly. Its the one old load from HSBC who have screwed me. Link to comment Share on other sites More sharing options...
FACEBOOK Posted April 1, 2013 Share Posted April 1, 2013 Getting more credit isn't what I need to help my rating, I already have 2 over drafts (not used) a credit card and a car loan, all of which are kept perfectly. Its the one old load from HSBC who have screwed me. Well defaults remain on your record for 6 years. If the old HSBC issue is incorrect, then you can get a a note put on your credit file to instruct those who search your record that the entry is incorrect. Link to comment Share on other sites More sharing options...
Anna B Posted April 1, 2013 Share Posted April 1, 2013 Banks don't have to do anything... It seems they are a law unto themselves... Link to comment Share on other sites More sharing options...
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