Fucking post office account

[Polymamas]

I was left in debt after ExH left and so only have a basic bank account because of poor credit.

I opened a post office savings account to put aside for Christmas.

I've gone overdrawn today so wanted to transfer £30 to my bank to cover that and the weekend (kids wanted to go swimming and I need basics)

I logged on and put the wrong pin in because I forgot they sent me a new one.

I realised this but it still wouldn't work.

So I called them and it's locked.

The only way to get a new pin is posting it which takes 3-5 working days

I asked if he could transfer the money to my bank over the phone and he said he could...if I had the correct pin

I told him I now have the correct pin

But he said no, that's now broke. The new one will be with you within 5 working days.

I tried after to open a saver account with my bank because they can do more over the phone but they said no straight away because I only have a basic account.

I'm sorry. I'm just ranting. I'm stuck now, overdrawn till Tuesday with no cash for weekend.

I'm sick to death of living like this

Please don't think for a second this is a begging post. It isn't.

I've been here for years.

I just don't have anyone to rant to

That's a really frustrating system. I managed to lock myself out of my account once but fortunately it reset after 24 hrs.

Can you get an overdraft on the overdue account? Have you enough food in the house?

I can't get an overdraft as it's a basic account. No facility to do that.

It's basically like a kids account :(

I don't see why I can't have a savers account. There's no loan or credit search surely

Yes I have food. I got a shop in yesterday :)

Just gonna borrow a fiver from someone for bread/milk

I know this won’t help you now but try opening a savings account with a different bank. You are likely to get a better response with a different provider.

Also if you are locked out of your account then ask a friend if you can borrow the money. It’s not like you don’t have it at all- there’s a good reason for you not having it- and as long as you paid me back in a few days I wouldn’t think anything of it. If not have a look around the house for any old gadgets etc you can flog, think about nectar points etc.

Things will get easier in time, hang on in there.

Been thinking a little more about your situation- I know it won’t help this weekend but Capital One do a credit card for bad credit. Mine used to be appalling and they let me have one so it must be pretty easy to get one 😂 it’ll build up your credit score if you use it for petrol once a month or your big shop on the week before pay day. They put your limit up after six months if you stick to payment dates etc too as it starts low.

Please don’t be tempted with the short term lenders- wonga, quickquid etc. even if you pay it back no problem they stay on your file for six years as a big indication you can’t manage your money and work against you.

Sorry if you already know all this- I’ve been a single parent struggling with a terrible credit score and wish I’d had someone to bounce ideas off at the time.

There’s banks/ building societies that will offer you a basic current account and also a savings account.

I would suggest having both in one place so you can use mobile/ online banking to do internal transfers in the future. Post office accounts tend to be a bit outdated now.

I only got the PO account because I tried a few banks and was refused.

I've got no chance of improving my credit. I owe money left right and centre. I pay the minimum each month

Are you bankrupt/ in an IVA? If so then that might limit options unfortunately.

Hope you manage to have an okay weekend.

Have u tried metro bank

Nope. I have one CCJ against me. And I pay £1 a month to about 5 debt collectors.

I know I need to sort it out. It's just very overwhelming.

Someone who owes me money just said they will give it me today so I have 50 quid being dropped off later so kids can go swimming now :)

Credit union?

Try Barclays for a basic account. They gave me a contactless card and a break when no other bank would. Nationwide have a good account called flexdirect with a high interest rate for a year- again they don’t seem too sneery about who opens it.

If your kids are clothed and happy, you have food in the cupboards and the utilities are all on you are doing much better than you think. Hang in there.

Great news about the owed money :) I wouldn’t lend in your situation though- anybody who knows you well shouldn’t be asking unless you regularly help each other out.

Can you open a kids account under your child's name and use that instead of the post office one. Choose an bank that is in your local area and if your in this situation you can pop down with your book and get the money out. You won't pay tax on the account and interest rate is normally the same as adults one.
You won't be able to set up online banking, but will be able to withdraw funds when necessary from the bank.

We do help each other out. She lends to me too

Credit union are one one the people I owe to

Hang in there

This x100

It’s an awful way to live but you can get through it

To be honest you shouldn't have a savings account if you are 'paying' debts at £1 a month. When you get access empty it and split the excess money between the people you owe money to.

I agree with the idea of opening a kid’s savings account too for rainy day essentials money- good advice.

Please don’t be tempted with the short term lenders- wonga, quickquid etc. even if you pay it back no problem they stay on your file for six years as a big indication you can’t manage your money and work against you.

Whilst I would never advocate using these short term lenders, the information above is incorrect. A short term loan is exactly the same as any other loan and, as long as you pay it back on the due dates, it will show the same as any other loan - whether you have maintained the payments or not.

I have to save for Christmas.

I'm going to apply for a debt relief order soon so I'm just payining the minimum.

@Polymamas

I know you feel a lot of pressure at Christmas time, but do not buy gifts for anyone other then the kids. People will understand. I have family who absolutely cannot afford to give gifts... no one cares. We still get to spend time with them; we don't need presents.

Budget about £50 per kid; that is enough. You cannot spend vast amounts of money when you have much more important things to pay for.

To be honest you shouldn't have a savings account if you are 'paying' debts at £1 a month. When you get access empty it and split the excess money between the people you owe money to.

Don't do that. It's wise to have some money put aside for emergencies and unexpected things.

I got a basic bank account with NatWest and an instant access saving account alongside it. They gave me this even though I was in an IVA at the time. I used the savings account to make sure I separated my bill money and knew what to spend at the supermarket etc. Now I use it more like a regular savers acct.

There's £150 in my savings account. It wouldn't even make a dent in the 5k owed.

I only buy for my kids. I get other kids in the family a selection box and a handmade gift x

So I'll keep it for Christmas, thanks.