Is this enough? - PLEASE HELP - Close to breakdown

[BeyondAnxious]

Hi all,

New to this and have posted on a forum as a last resort and because I have nowhere else to turn - so please be understanding.

I am currently 25 and living at home with my parents. I pay a contribution to the household to my parents of x every month but my name is not on any bills.

Apart from my savings account, the only CURRENT account I have is a Santander Everyday Current Account which was, I believe, a Youth/Child account when I was under 18 as I had a part time Job then, so would have needed an account for my salary to be paid into of course.

My assumption Is that this was automatically upgraded to an adult Everyday Current Account when I turned 18 as this is the account I currently have and the bank says that this is what it does in these situations.

My question? When I leave home, I would like to open a second current account to separate my bills/everyday spending into two accounts as this is the only way my brain can manage budgeting - so I get paid, pay the bill amount into the bills account and they will go out as and when they need to, and my money in the spending account is mine to use for the rest of the month until I get paid again and the cycle restarts.

So what is the problem, then? The issue is that when you need to open a new standard current account, whether or not you ask for an overdraft, (which I do not intend to do BTW), the bank must complete a hard credit check. The issue with that is that I do not have any credit history as I have never had and do not want a credit card, no bills are in my name, my phone is paid outright instead of on a contract, and I do not have a car due to dyspraxia (so no finance there).

The only reason I currently have a standard current account is because my youth account was automatically upgraded to an adult one once an age was reached (I presume 18) WITHOUT any credit checks done, as per the bank's policy. It would appear that in order to open any additional current accounts, you need to pass a credit check but as I have no credit history I fear I would not do this and therefore not be able to open one.

HOWEVER, and this is where I am pinning all my hopes and more, I AM registered on the electoral roll and have been for some years. Online searching on money/other forums has been extremely unclear on this, however there were a few hints that suggested simply being on the electoral roll could be enough to open a standard everyday (NOT A BASIC) current account? Is this true? Especially as I would not be wanting an overdraft, but not sure if this would be relevant as the hard credit check is completed regardless? The forums were suggesting that being registered means that my name and address could be confirmed and this also adds points on to your score?

So even though I have no history persay, I am registered on the electoral roll and if that added a few extra points on as well, even though I have no actual credit 'activity', surely that would be enough for me to simply open an everyday current account?

Please, someone, reassure me that this is true and I can do this because as you can tell, my future state of mind for money management depends on this and living with serious GAD I really, really need this.

Please, someone, make my day.

Thank you so much x

Everyone has to start somewhere.

What is the worst that can happen? They do a check and say no?

You can download Starling or Monzo and open an account in a few minutes with the checks done. You are massively overthinking.

Revolut. I do the same as you want to do OP. Primary Current account for all bills/regular stuff and the Revolut for my personal spends and "fun money".

I suppose Starling and Monzo are similar to Revolut. It's no problem to open any one of these. Have a look online to see which is best for you.

My young 'uns use Revolute accounts, and that does savings and investment pots as well

Ok OP you need to take a deep breath and calm down. It's just a bank account, you can open as many as you like. Just open one, it will take you about 15 minutes to do it on line.

Go and ask? Or try on line?

Get a starling account. They are much easier to manage that high street banks I think.
You’re getting really worked up over something very trivial. I have at least 4 current accounts. You can open as many as you like. Just go and open another one

My 20 year old son has just got his first credit card, solely so he can start to build a credit history. He puts his food shop on it and pays it off straight away.
He's very good with his money so isn't building up any credit bills on it.

Well they will obviously be checking your not millions in debt or on an IVA but that doesn't apply to you. Even if it did, they would just give you a basic account, which is actually all you need for a bills account.

How do you think young adults set up accounts when they have never had a contract phone because the parents had it?

Have you actually checked your credit score regardless? That may ease your anxiety.

Usually you can open another account with the same bank quite easily

I think you're putting too much on the phrase 'hard credit check'.

There must be a way to open accounts without utility bills etc. How would the average 18yo going to Uni manage if they needed bills etc in their name?

You can have as many current accounts as you like OP. You can apply online on any bank now. Just do it, this isn't a big deal. Recommend monzo as you can move money into separate pots for budgeting.