Unable to open a bank/current account

[Private Singh]

So as the title says, I'm unable to open a current account, applied to multiple banks, high Street, online, smaller banks all with no success, currently in the application stage, anyone have any experience with this or know anyone that's had this issue?
Not sure if it will cause issues or stop me from joining during the final checks, any advice would be appreciated.

 

[Egg on Leggs]

Join a Credit Union.

 

[AsterixTG]

So as the title says, I'm unable to open a current account, applied to multiple banks, high Street, online, smaller banks all with no success, currently in the application stage, anyone have any experience with this or know anyone that's had this issue?
Not sure if it will cause issues or stop me from joining during the final checks, any advice would be appreciated.

What did the banks say when you asked them why they wouldn't allow you to open an account with them?

 

[Uncivil_Servant]

This seems to sum up what you need. Which bits don't you have?

 

[The_Duke]

MOD comment. Posts deleted, points awarded.

 

[Private Singh]

They wouldn't give me a specific reason, mentioned they were not allowed to divulge the information, I have all the forms of ID required

 

[RBMK]

All banks should offer you a basic bank account.

E.g: Basic Bank Accounts | thinkmoney

Do you have poor credit history or debts?
Is your credit history correct? Mistakes are not unknown.
Why have you not had an account previously or else why has it been closed?
Check with a credit agency, a basic request is free by law.

Hope this helps.

 

[Sixty]

Most banks should allow you to open a basic account (no overdraft facility, no debit card and such). Give them another go.

Edit: or what @RBMK said up there^

 

[AsterixTG]

They wouldn't give me a specific reason, mentioned they were not allowed to divulge the information, I have all the forms of ID required

That sounds unusual.

If you were to take an informed guess, why do you think it is?

 

[Sam The Bam]

Join a Credit Union.

Does the UK have Credit Unions these days? I can't say I was particularly looking for one but I can't say either that I've seen one when we were back there for a visit a couple of years back.

 

[kimmi851]

There can be issues if banks are aware of previous money laundering issues (compliance around that is a nightmare and they tend to be more wary of people who have been caught doing this). This is causing issues for some students who have agreed to "take commission for money moving through their accounts" from my experience working for one. However I believe the Post Office have to allow a basic account still with the bare minimum of evidence of who you are. You don't get any line of credit but it is an account.

 

[theoriginalphantom]

Does the UK have Credit Unions these days? I can't say I was particularly looking for one but I can't say either that I've seen one when we were back there for a visit a couple of years back.

yes

Find Your Credit Union - search to find credit unions near you

Find a credit union near you. Browse 385+ credit union websites to join & apply for loans savings online. Search by home & work postcodes & associations.

www.findyourcreditunion.co.uk

 

[Private Singh]

That sounds unusual.

If you were to take an informed guess, why do you think it is?

Thinking about it, I've moved addresses alot over the years, the dates of addresses I've given could be the cause, I will try register on a credit checking website and see if this will give the information I need. Thank you

I have one current account that is defaulted currently.

I have applied to think money, hopefully address dates are correct.

 

[Egg on Leggs]

Does the UK have Credit Unions these days? I can't say I was particularly looking for one but I can't say either that I've seen one when we were back there for a visit a couple of years back.

Hope so, otherwise what am I managing every day.

There is about 200+ in the UK.

 

[Private Singh]

I will look into credit unions, but I was under the impression they must be in the local area, and you have to go in branch to withdraw funds?

 

[Provost]

There can be issues if banks are aware of previous money laundering issues (compliance around that is a nightmare and they tend to be more wary of people who have been caught doing this). This is causing issues for some students who have agreed to "take commission for money moving through their accounts" from my experience working for one. However I believe the Post Office have to allow a basic account still with the bare minimum of evidence of who you are. You don't get any line of credit but it is an account.

As I have said before, banks can be very prissy about compliance when dealing with the small guy. Different rules apply if you are a Russian oligarch or similar.

 

[AsterixTG]

Thinking about it, I've moved addresses alot over the years, the dates of addresses I've given could be the cause, I will try register on a credit checking website and see if this will give the information I need. Thank you

I have one current account that is defaulted currently.

I have applied to think money, hopefully address dates are correct.

Ok, thank you - why is your existing account 'defaulted'?

 

[Sam The Bam]

Hope so, otherwise what am I managing every day.

There is about 200+ in the UK.

Thanks for the info, I really didn't know tbh, how long have they been around in the UK? Do you know if they are run along similar lines to the American Credit Unions? We've been with a Credit Union for decades, I find them better than the big name banks and if there is a problem nothing is too much trouble to get it sorted.

 

[Private Singh]

Ok, thank you - why is your existing account 'defaulted'?

Poor finical decisions as a student, completely forgot about the account, untill earlier in this month and am currently working to clear the debt

 

[AsterixTG]

Poor finical decisions as a student, completely forgot about the account, untill earlier in this month and am currently working to clear the debt

There you go - crack on with that, hopefully get some stability with a home address and try again later.