Ciao let me come back :)
I hope I will get to see some old friends :)
Ciao let me come back :)
I hope I will get to see some old friends :)
Member since:21.01.2002
Reviews:91
Members who trust:28
I am getting a divorce and one of the scariest things about being a newly separated woman was all the banking you have to do. I was sick of banking. My husband was the banker in the family. And once he was gone, I had to learn to do it myself..
Now, I was never at all fond of banking. It takes a lot of effort for little return. Just lots of in and outs and nothing to show for it at the end. And very little in the way of interest. My ex would do it once a month and get it over with as quickly as possible. There would be lots of grunting and moaning and tutting, a big flurry of frenzied activity and then it would be all over, leaving us spent. There would be nothing left to have fun with, or to offer us a little pleasure once we'd done the necessary.
I hated all the withdrawls and the small deposits. And as for dipping into the red, well that would never do. I used to just sit back and leave everything up to him indoors. Disgracefully nineteenth century of me I know, but I just couldn't bear it!
But sadly, I have learned that banking is a part of everyday life. When you are alone, it is something you have to do. You don't get far without it. The days of having a bit on the side for the milkman the rent man and the gas man are long gone. Everyone wants direct debit. Cash is no longer the currency it was. No one sends a little man round
to collect their dues any more. There is no way I could manage without a bank account. And before too long, no one will be able to, as the Government is taking steps to stop paying benefits with Giros and push people into having direct bank payments.
Now, when Hubby left, he took his bank account and credit card with him. As I've not worked for some years, because of being a full time Mummy, I no longer had a credit card and bank account of my own. We'd never bothered to set up a joint account, it was easier to do it all through his.
This could have been a serious problem for me, because technically, at this point, I was unemployed and had no income. Plus, I had no recent credit history. Everything we've done financially for the last fifteen years has been in ex-hubby's name. I would have found it virtually impossible to get a bank account and I needed one desperately, first to have maintenance and benefits paid into, and later, to have my wages paid into when I started to work.
Luckily, a couple of years ago I set up a Halifax Cardcash account. I originally set it up just to have my Family Allowance paid into. At the time I set it up, all I needed to do was give Halifax some identification and £10 to start the account (although I think that has gone up to £50 now). I only had about £60 per month going into the account, but that was plenty. Cardcash is a sort of truncated bank account for people with credit issues or a lack of credit history, which doesn't offer all of the services of a full bank account, but which gives you the essentials. Technically, I suppose if you had serious financial problems in your past, they might turn you down for a Cardcash account, but they gave me one, even though I had little or no recent credit history.
The account comes with an ATM or cashpoint card on the Link network, which also doubles as a Solodebit card, and a cheque book. I don't have a cheque guarantee card but at least the cheque book allows easier postal bill payment. And although the debit card is a Solo, rather than a Switch, more and more stores, and online businesses, are starting to take Solo these days. A couple of years ago it was almost useless as a debit card, as so few stores were set up to take it. Luckily, the situation seems to have improved considerably. Huge online businesses like Amazon now take it, as do major stores like Iceland, Sainsburys and Tesco. Even John Lewis online takes Solo these days.
The account doesn't give you access to an overdraft either, but for a woman in my position, I think that is probably a good thing. Learning to live on a very tight budget is all part of my new independent lifestyle and I don't want to start it with large expensive credit debts and overdraft charges.
My Halifax Cardcash account also allows me to set up direct debits and standing orders to pay my bills, mortgage, insurance policies, television licence and all manner of other things.
There is a telephone banking service but I never use it because the Internet banking service is fantastic. It was very easy to set up - a quick phone call to the helpline to answer some questions, a pin number through the post in a couple of days and off you go.
I can check my balance any time of the day or night. I can make one-off payment transfers myself and set up my standing orders and direct debits myself. I can see if cheques have been cashed and if payments have gone in and out of my account correctly.
I have only really come across one downside to my Halifax account, but I think it is something common to all banks. The debit transactions are always done first thing in the morning before the credit transactions, so money due to come out of your account will always be taken before any money due is credited to it. This has, once or twice, resulted in me going unintentionally overdrawn for an hour or so, until credits have been made into the account. And Halifax has, on two occasions, seen fit to bounce payments because of this and charge me a whopping £25 in charges. It's sharp practice, but there's nothing you can do about it, except try to make sure that any money that needs to come out, is taken on the day AFTER your wages or other payments go in. And you have to be careful with cheque clearance, as it takes five days to clear a cheque into the account, rather than the normal three.
So, while this is on the whole a perfectly serviceable account for me at the moment, it is also doing me a huge unseen favour. It is helping me to establish a financial history of my own, independent of my ex-husband. Before long, once I've settled in my job and I am being paid regularly, and once I have transferred the mortgage into my own name, I shall be able to get a full bank account, either with Halifax, or another bank or building society. I will even be able to get a credit card if I want to.
And although I started off hating banking, I've learned to enjoy it, because it has given me freedom. I don't need a man. I don't need anyone but myself. I can be an independent woman. It is actually quite exciting and thrilling to be in charge of my own financial future for the first time in ages. So call me a banker if you like - because I am, and proud of it!
For more information go to www.halifax.co.uk, or visit your local branch.
Cheers
Allie xx
How helpful would this review be to a person making a buying decision? Rating guidelines
I'll definitely try Halifax's Cardcash account now that I've read this. I was with HSBC's basic banking account for ages, but am really tired of having to run to ATMs all the time when I want to buy something - a Solo card would be nice... but HSBC's Basic Banking account don't do debit cards. The internet banking facility to pay the bills is just fantastic - this was something HSBC had, hence I never switched banks for so long. Now knowing that Halifax's Cardcash account has it too - its really helped me make the decision to switch. Good review! I hope you are enjoying that new found independence!
Elainebaba 05.11.2002 23:47
I like your positive attitude being an independent woman. and that you can take care of your own financial future. Well done.
Avril
Coppertop 05.11.2002 23:22
Well done to you Allie! I'm the banker in our house cos hubby is away so often :( Sue
Nov 3rd, 2002
very helpful by (98%):
somewhat helpful by (2%):
