Discussions on life after your bankruptcy discharge.

Moderators: TalbotWoods, JaneClack

ByOn-the-up
#61586 Hi everyone

I'm a newbie to this forum so apologies if i'm asking something that has already been covered.

I was made bankrupt last year after some terrible decisions by the Family Courts giving all my money to my ex wife and all her credit card debts to ME! lol I was discharged after just seven months.

I got a basic account with the Abbey - but need an account that will allow me a Debit Card so that I can poay things on the Internet etc.

I also now have a business which is becoming quite successful and will shortly need a business bank account.

Any suggestions?

RH
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ByTalbotWoods
#61594 Yo can try the co-op they do a cashminder account with electon card, but to be honest you are going to find it very difficult (if not impossible) to get a real debit card for a few more years. mnay have tried (including me) and many have been told No (including me)

With regards to the business account again it will prove very difficult, though it may be worth talking to the Nationwide and Co-op again.

Tim
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ByDeus
#61596 just out of interest and sorry to but in but what are the key differences between say an electron card and a normal debit card?
ByOn-the-up
#61597 Thanks
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ByTalbotWoods
#61600 Electon card have to be authorised each and every sale, if there are insufficent funds then the transaction is turned down.

Normal debit cards are not always authorised and the bank will often allow you to overdraw on them to a small extent.

Electron cards are not usniverally accepted, where as meastro and the like tend to be.

Tim
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ByDeus
#61601 Oh right so if you call into a petrol station and fill up then theres no guarantee they will take your card? oooerr
Byjonnie000
#61607 Main differences between Visa Debit and Visa Electron:

Electron (as the name suggests) is for Electronic transactions only... i.e. can't be used in those old style carbon copy swipe machines, and so is only suitable for transactions where there is an electronic link i.e. most supermarkets, petrol stations, local grocery shops, in fact nearly all places these days.

Also, most Visa Debit cards also act as cheque guarantee cards, whereas Electron doesn't have this facility.

Very few places don't take Visa Electron. Though I've found one or two online obstacles for Electron. It's usually the initial deposit needed for car insurance, Electron wasn't accepted, so needed full VISA, and RAC membership, they wouldn't take Electron either. Also a mobile phone contract needed the delivery fee to be paid by Visa, and Electron wasn't accepted. Luckily I have a VISA credit card for all these instances. But I can see why you want a full Visa card.
Byjonnie000
#61616
DanH wrote:Oh right so if you call into a petrol station and fill up then theres no guarantee they will take your card? oooerr


If you have a Tesco filling station near you the Electron card will work in their "pay at the pump" as well as in the kiosk, handy for avoiding those queues to pay. I have noticed that Asda's "pay at the pump" near me doesn't take Electron though which is odd.

I'm not sure on other petrol stations though.
ByIphigenia
#61620 I've discovered I can't use the Electron card to make a telephone order ~ I assume because it's electronic only - or could it be just that particular company I was trying to deal with?
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ByDeus
#61622 Another just out of interest...does anyone know what card the nationwide flexaccount gves you?
Byjonnie000
#61624 I think it's more to do with individual companies available systems to handle transactions. I've paid with Electron over the phone (pretty sure I have anway). If they haven't the facility to check sufficient funds are available then Electron isn't an option.
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ByAnge
#61625
DanH wrote:Another just out of interest...does anyone know what card the nationwide flexaccount gves you?


Just a cash card Dan, that's what I've got.


NMH
xxx
Byjonnie000
#61626
DanH wrote:Another just out of interest...does anyone know what card the nationwide flexaccount gves you?


Solo? Not 100% sure. Similar functionality to Electron I believe. I have one of these too, but with NatWest, but haven't used it yet.

In fact I just had a quick look on their website and I think it's just a Cash Card on their basic bank account.
Last edited by jonnie000 on Tue May 02, 2006 3:07 pm, edited 1 time in total.
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