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Opening a Bank Account. Agor cyfrif banc. Information on different types of accounts and what they offer. nhw n ei gynnig. gyfrifon a r hyn y maen

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(1)

Agor

cyfrif

banc

Gw

ybodaeth a

m y

matha

u gw

ahan

ol o

gyfr

ifon aā€™

r h

yn y maen

nhw

ā€™n ei g

ynnig

.

Opening a Bank Account

Information

on different types of

accounts and what

they offer.

(2)

Why open an account?

Soon all benefits will have to be paid into a bank account.

Having money paid into an account is safer you will receive your money quicker.

If you are looking for work or in employment, most employers now insist on paying wages into an account.

You can save money by paying your bills through your account.

Helps you keep track of how much you are spending through receiving regular statements or you can access online banking using smart phone apps.

Will I be able to open a bank

account if I have a poor credit

history?

Usually your credit history will be checked before any of these accounts can be opened, but poor credit history should not prevent you opening a basic bank account.

How long will it take for a

bank account to be set up?

It should not take more than 10 days to have the account up and running, provided there are no problems with your identification and verification documents.

If you require any

advice or assistance

with opening a bank

account please

contact:

The Advice Hub,

1

st

Floor,

Marland House

029 2087 1000

r cyfrif?

go

y pam a

Fell

Bydd po b bu dd -d al yn cael ei dalu i m ewn i gyfri f banc yn fuan. Maeā€™n f wy diogel talu arian i gyfrif, a byddwc h yn cael yr a rian yn gyn t. Os yd ych y n c hwili o a m s wyd d, m aeā€™r rhan fwyaf o g yflo gwy r bellach yn myn nu talu cyfl og i gyfri f banc. Gallwch arb ed ari an drw y d aluā€™ch b iliau drwyā€™ch cyfri f. Maeā€™n eich help u i gad w lly gad ar faint rydych chiā€™n ei wari o dr wy gyfrifl en ni rh eolai dd , neu gall wch ddefnydd io ban cio ar -lein ar eich ffĆ“n sym ud ol.

Fyd

da i

ā€™n

gal

lu agor cy

frif banc

os oe

s gen i h

an

es o gr

edyd

gwae

l?

Fel arfer, byd d y banc yn ed rych dros e ich han es credyd cyn ago r unrh yw gyfri f, on d ni dd ylai hanes o gred yd gwael e ich a tal chi rhag agor c yfri f banc sylfa en ol.

Pa mo

r h

ir y b

yd

d yn

ei

gymryd

i sefy

dlu

ā€™r

cyfrif?

10 wy na ryd m gym ylai Ni dd

diwrno d i' r cyfri f gael e i ago r a'i we ithredu , cyh yd Ć¢ bo d dim pro ble mau gyda'ch dogfenn au adn abo d a dily su.

Os oes ang

en cyng

or

th ar

ymor

neu g

noch i

agor

cy

frif ba

nc,

cysy

lltw

ch Ć¢:

Yr

Hyb Cy

nghori,

Lla

wr Cyn

taf

,

TÅ·

Marla

nd

029

2087

10

00

(3)

Beth

syd

d ei a

nge

n arn

af i a

go

r cyfri

f banc?

Mae angen dwy ddo gfen ar y rhan f wyaf o f anciau , sef un i brofi p wy yd ych

chi aā€™r llal l i bro fi lle ry dych yn byw. Y d ogfenn au m wyaf d efnydd iol y w: Pasb ort y D U neu AEE, neu drwy dd ed gyrru c erdyn Ć¢ llu n. Bil diwedd ar (nwy , try dan , tret h gyng or, on d dim un ff Ć“n sym ud ol) yn dango s eich c yfeiri ad. Llyt hyr pen derf yn iad ar fud d-d al diwedd ar. Os n ad o es genn ych u nrh yw un oā€™r do gfenn au hyn, mae ffyrdd erail l o bro fi pw y y dych chi , ac mae gan bob banc w eithd refnau hyblyg ar gyfer derbyn d ogfenn au p enod ol e raill. Gall wch d rafod hyn Ć¢ā€™r staff yn y ban c. Gofynn wch i b ob banc un igo l pa dd ogf ennau syd d eu han gen arn yn t i ago r cyfri f i ch i. Sicrh ewch f od sillafia d eich en w aā€™r un c yfeiria d ar yr h oll dd ogfenn au. Gwnewch y n si ŵr taw'r un d diwedd araf y w u nrh yw ddo gfen s yd d genn ych, fel bil. Mae po b ban c yn gwneud co pi o ā€™ch do gfenn au ac yn rh oi'r rh ai gwre idd iol y n Ć“ l i chi. Gall y r Hyb Cyn gh ori r oi ffu rflen i chi f yn d Ć¢ hi iā€™ch banc lleo l a fyd d y n eich arwain drw yā€™r br oses o ag or cy frif ban c sy lfaeno l.

Pa f

ath

o gyfrif

y dylwn ei ag

or?

gynnw el, gan ol ar ga ahan l gw gyfrifo er o nif Mae

ys: Cyfri f banc sylfa eno l Cyfri f Cyfred ol Cyfri f Undeb Cr

edyd

What do I need to open a bank account?

Most banks need you to provide two different documents ā€“ one to

prove who you are, and one to prove where you live. The most useful documents are:

A UK or EEA passport or a photo card driving licence. A recent bill (gas, electricity, council tax, but no mobile phone) showing your current address.

A recent benefit decision letter.

If you donā€™t have any of these documents, there are other ways to prove your identity and each bank has flexible procedures for accepting certain other documents. You can discuss this with staff at any of the banks.

Check with each individual bank to see which documents they require to open an account.

Make sure all the documents you provide have the same spelling of names and same address.

Make sure any document, such as a bill, is the most recent available. All banks take a copy of your documents and give the originals back to you.

The Advice Hub can give you a form that you can take to your local bank which will guide you through the process of opening a basic bank account.

What type of account should I open?

There are a number of different accounts available these include: Basic bank account

Current account Credit Union account

(4)

Features Basic Bank Account Current Account Pay bills & withdraw money from a cash machine āˆš āˆš

Direct debits and standing orders can be set up āˆš āˆš

Receive wages/benefits directly to this account āˆš āˆš

Debit card given which can be used in shops & cash

machines āˆš* āˆš

Good option if you have poor credit history or no

income āˆš ļƒ»

Possibility to get a cheque book ļƒ» āˆš

Refusal of an account if you have debts of more than

Ā£500/outstanding court judgement against you āˆš ļƒ» Simplest bank account to open and manage āˆš ļƒ»

Manage account online/mobile banking āˆš āˆš

Cheque book ļƒ» āˆš

Regular bank statements showing payments &

balance. ļƒ» āˆš

No money needed to open the account āˆš ļƒ»

Allows interest to be earned on the money you have ļƒ» āˆš

Overdraft facility ļƒ» āˆš

No fees to pay āˆš ļƒ»

Charge for account but they offer rewards, cash back

& good interest rates ļƒ» āˆš

Main features and services of different accounts

* All basic accounts shown in this leaflet

nol

waha

on g

yfrif

thau c

asanae

eddion a gw

Prif nodw

No dwe dd io n Cyfr if ban c sylfaen ol Cyfr if Cyfr ed ol Talu bili au a th yn nu arian alla n o dw ll yn y wal āˆš āˆš Gallu tre fn u d eb yd au u nion gyrch ol a c arch eb ion sef yd log āˆš āˆš Cael cy flog /bu dd -d aliad au y n u nion gyrch ol iā€™ r cy frif hw n āˆš āˆš Cerd yn de byd y ga llwch ei dd efn yd dio me wn sio pau a thw ll yn y wal āˆš* āˆš Dew is d a o s o es genn ych han es o gredyd gwae l neu dd im in cwm āˆš ļƒ» Cyfle o gae l sie clyfr ļƒ» āˆš Gw rtho d cy frif os o es genn ych dd yle dion dro s Ā£500/ gorchym yn llys cy fre do l yn eich erbyn āˆš ļƒ» Y cy frif ban c sym laf iā€™w agor aā€™i reoli āˆš ļƒ» Rheo liā€™r cy frif ar-lein /ban cio sy mu do l āˆš āˆš Sieclyfr ļƒ» āˆš Cyfrifle nn i ban c rheo laidd syā€™n dan gos t aliad au a bala ns. ļƒ» āˆš Dim a nge n a rian i agor y cy frif āˆš ļƒ» Caniat Ć”u i incw m ga el ei enn ill a r yr arian sydd gen nych ļƒ» āˆš Go rdd raff t ļƒ» āˆš Dim f fioed d iā€™ w t alu āˆš ļƒ» Codi a m gy frif on d y n cy nn ig gwo bra u, a rian y n Ć“ l a chyf rad dau llog d a ļƒ» āˆš * Da ngos ir po b cy frif sy lfae no l yn y d aflen ho n

(5)

Geirf

a ter

mau b

ancio

Arc he b se fyd lo g: ffo rdd o wn eu d t aliad au rh eo laidd i ry wu n d rwy d refn u Ć¢ ā€™ch ban c. Os nad oes digon o a rian y n eic h cy frif i d aluā€™r arch eb sefy dlog, byd d y rh an fw yaf o fanciau ā€™n cod i ffi a rno ch. De byd un io ngy rch ol: ffo rdd o dalu bili au. Ry dych yn tre fn uā€™r taliad hw n Ć¢ ā€™ch cyfle nw r ac yn rh oi man ylion eich cyfrif idd o. Os nad oes digon o a rian y n eic h cy frif i d aluā€™r deb yd un iongy rcho l, b yd d y rh an fw yaf o fanciau ā€™n cod i ffi a rno ch. Gord draff t: Go rdd raff t a awdu rdo dw yd yw un y cy tun wyd ar no Ć¢ā€™ch ban c. Cew ch fen thyca hyn a h yn o a rian, syd d we diā€™i oso d y mlaen llaw. F el a rfer codir a rno ch am dd efn yd dio gordd raff t, o nd mae faint y b yd d y n r haid i ch i ei d alu, a math y ff i, yn am ryw io rh wn g ban ciau. Ma e my nd i fw y o ord dra fft naā€™ r le fel a gan iateir, neu fyn d i dd yle d o gwbl p an n ad y w b anc we di cy tun o a r le fel ben od ol o ord dra fft, yn rhyw beth iā€™w osgoi ar b ob cyfrif . Cerd yn de byd : cerd yn talu pla stig syā€™ n gy sylltie dig Ć¢ ā€™ch cyfrif ban c a d def nyd dir i dalu am nw yd dau a gwas anaeth au. Ma e h efy d y n eic h ga lluogi i go di a rian o dw ll yn y wal neu gael a rian y n Ć“ l o si op au syā€™ n cy nn ig y gwas anaeth hw n. Cerd yn de byd we diā€™i rag dal u: gallwch ro i arian ar y cerd yn ym laen llaw aā€™i d def nyd dio fel u nrh yw gerd yn ta lu a rall m ew n si op au n eu ar-lein , a c maeā€™n gweith io yn y r han fwyaf o dyllau yn y wal hef yd . Dyd yā€™r cerd yn dd im y n gy syllti ed ig Ć¢ā€™ch cyfrif ban c a gallwch on d wario ā€™r arian ryd ych yn ei roi a rno , fe lly ni a llwch fyn d i ord dra fft na dyle dion . Cerd yn Arian Paro d: cerd yn talu plas tig s yd d o nd yn can iatĆ”u i ch i god i arian o d wll y n y wal. On d n i allwch dalu am nw yd dau a gwas anaeth au a g ef y n bers on ol, ar-le in n a th ros y ffĆ“ n. Ban cio ar-l ein : mae h yn yn eich galluo gi i f ancio ar y we. Gallw ch w neu d p eth au fe l tro sglw yd do cyfri fo n, gwe ld e ich b alan s, t alu b iliau , rheo li deb yd un iongy rcho l ac arch eb ion se fyd log a gall hyd yn oed gyn nig ceis iadau am fen thyciad au a char diau credyd ar-lein . G allwch weld gwybo daeth am y cy frif ar un rhyw bry d y n u nrh yw le.

Banking terms explained

Standing order: a way of making regular payments to someone which is arranged

with your bank. If there is not enough money in your account to send the standing order, most banks will charge a fee.

Direct debit: a way of paying bills. You arrange this payment with your supplier and give them your account details. If there is not enough money in your account to send the direct debit, most banks will charge a fee.

Overdraft: An authorised overdraft is one that has been agreed with your bank. You are allowed to borrow up to a pre-set overdraft limit. Normally youā€™re charged for using the overdraft although how much you pay and the type of fee may vary from bank to bank. Exceeding your authorised overdraft limit, or going into the red when the bank has not agreed an overdraft limit, is known as an unauthorised overdraft and should be avoided at all costs.

Debit card: a plastic payment card which is linked to your account and is used to pay for goods and services. It also allows you to withdraw money from cash machines or get cash back from shops that offer this service.

Prepaid debit card: money can be loaded up in advance

and used like any other payment card in shops or online and most work at cash machines too. The card isnā€™t linked to a bank account and you can only spend the money you put on it, so you canā€™t go overdrawn or run up debt .When the money runs out you top up the card, just like a pay-as-you-go mobile phone.

Cash card: a plastic payment card which only allows you to make cash machine withdrawals. It doesnā€™t allow you to pay for goods and services in person, online or over the phone.

Online banking: enables you to perform banking activities via the internet. Such as account transfers, balance enquiries, bill payments, managing direct debits and standing orders and some even offer online loan and credit card applications. Account information can be accessed any time and can be done from anywhere.

(6)

Cardiff & Vale Credit Union Savings Account

Save by standing order from your bank/building society, using a membership card at any Post Office or PayPoint outlet, by Cheque or cash at office, debit or credit card by telephone/online.

Interest is paid on savings in the form of an annual dividend (subject to profit).

Savings can be withdrawn by contacting the office, by BACS transfer to your bank/building society, cheque payable to yourself/third party

or open cash cheque which will be made payable to you.

Cardiff & Vale Credit Union Rent Account

Income can be paid into your account by standing order.

Make payments at Post office, Paypoint, telephone or with Credit Union payment card.

Ā£5 per month handling fee (your landlord could enter into the agreement with the Credit Union to cover this fee).

Rent is set aside from regular savings in the account and can be paid directly to your landlord. Payments can be arranged to your landlord by informing how much to pay and how often.

Rent is set aside and remaining funds can be transferred into a bank account, cash a cheque or you can apply for the prepaid card.

Interested in a Cardiff & Vale

Credit Union account? Please

contact: 1st Floor, Advice Hub,

Marland House, Cardiff, CF10 1PN

Tel.

029 2087 2373

Email:

info@cardiffcu.com

Website:

www.cardiffcu.com

If you are a member

of the Cardiff & Vale

Credit Union you have

access to affordable loans.

Unde

b Cre

dyd Ca

erd

ydd aā€™

r F

ro

Cyfr

if

Cyn

ilo

Und

eb

C

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Ca

erd

yd

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ā€™r Fr

o

Cyn ilwc h dr wy ar cheb s efyd log gan eich banc/ cym dei thas adeilad u, gan dd efnyddio cerdyn a elod aeth y n un rhyw Swyd dfaā€™r B ost neu Pay Po int, drwy Siec neu aria n par od m ewn sw yd dfa, neu gerdy n c redyd neu ddebyd dro s y ffĆ“ n/ar -lein . Caiff llo g ei dal u ar g yn ilio n drwy ddifi dend blynyd do l (y n dib yn nu ar elw). Gallwch dynn uā€™ch cyn ilio n all an drwy gysy lltu Ć¢ ā€™r swyd dfa, tr osg lwy dd iad BACS iā€™ch ban c/cy md eithas ad eiladu , siec yn dalad wy iā€™ch hu n/try dyd d parti n eu siec arian paro d ago red, a w neir yn dalad wy i c hi. Cyfr if Rhen t Un deb Cre dyd Cae rd yd d aā€™ r Fr o Gallwch da lu incw m iā€™ch c yfri f drwy arch eb sefy dlo g. Talwch yn Swyd dfaā€™r Po st, Pay Po int, dro s y ffĆ“ n neu g yd a cherdyn talu ā€™r Und eb Credyd. Ffi dr afod o Ā£5 y mis (gal laiā€™ch lan dlo rd w neud cytun deb Ć¢ā€™r Und eb Credyd i dalu ā€™r ffi ho n). Rhoddir rh ent iā€™r nai

ll o chr o gyn ilio n rhe olai dd yn y c yfr if a gelli r ei da luā€™n unio ngy rcho l iā€™ch land lord . Mae mo dd trefn u talia dau iā€™ch land lord drwy ro i gwy bo d f aint rydych ch iā€™n e i dalu a p ha mo r a ml rydych ch iā€™n t alu. Caiff rhen t ei ro i iā€™r nai ll ochr a gall wch dro sglw yd do ā€™r gwe dd ill i gyfrif banc, c od i ari an drwy siec neu w neud cais a m y cerd yn wed iā€™i rag dalu . Os yd ych yn aelo d o Unde b C red yd Cae rd yd d aā€™r Fro ga llw ch fanteis io ar fen thyc iad au fford dia dw y.

Ƃ d

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(7)

Cyfrif

Cerd

yn

Sw

ydd

fa'r

Po

st

Man

teisi

on a

c a

nfa

ntei

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y

cyfri

f h

wn

ļƒ¼

Maeā€™n ben od ol ar g yfer derbyn pensiyna u, budd -d aliad au a chredydau tret h s yā€™n cael e u rho iā€™n un ion gyrch ol y n e ich c yfri f

ļƒ»

Ni elli talu unrh yw incw m arall iā€™r cyfri f hwn e.e. eich cyflo g

ļƒ¼

Gallwch d aluā€™ch b iliau ag arian paro d, c erd yn , siec, Arch eb Bo st neu Gerdyn C yllid eb Swy dd fa'r Po st

ļƒ»

Gallwch o nd god i ari an n eu weld eich cyfri f y n S wyd dfa' r P ost

ļƒ¼

Os o es an gen i chi d alu b iliau , ychwan egu credyd i ā€™ch ffĆ“ n sym ud ol neu 'ch mesur yd d n wy neu dr yd an, gal lwch fy nd i gan gen leol S wyd dfa' r P ost a gwne ud hyn ny dro s y co wnter neu mewn go rsaf dalu

ļƒ»

Ni all wch drefnu tali adau bil awto matig , fel d ebyd unio ngy rcho l neu arch ebio n sef yd log

ļƒ¼

Os ew ch Ć¢ā€™ch b il, c erdyn t alu ffĆ“n sy mu do l, cerdyn n eu allwe dd tryd an iā€™ch cangen le ol a rh oi gwy bo d f aint yr ho ffech e i d alu, byd d Swy dd fa'r Po st yn gwn eud po pet h i chi ac yn rhoi derb yn neb i chi

ļƒ»

Yn fuan bydd y n rhai d t alu pob budd-d al i gyfri f b anc a bydd wch yn gyfri fol a m dal uā€™ch rh ent ei ch hu n, ac ni allwc h dal uā€™ch rh ent drwy dd ebyd unio ngy rcho l nac arch eb sefyd lo g.

ļƒ¼

Dim card iau c redyd, g ord draff t na ffio edd ar y cy frif

Post Office Card Account

ļƒ¼

Specifically designed for

receiving pensions, benefits and tax credits which are credited directly to your account

ļƒ»

No other income can be paid into

this account, eg your salary

ļƒ¼

Your bills can be paid by cash,

card, cheque, Postal Order or Post Office Budget Card

ļƒ»

Only withdraw cash or check your

balance at a Post Office branch

ļƒ¼

If you need to pay bills, add

credit to your mobile phone or top up your gas or electricity you can go to your local Post Office branch either over the counter or at a paystation

ļƒ»

Canā€™t set up automated bill

payments such as direct debits and standing orders

ļƒ¼

If you take your bill, mobile E

Top-Up card, gas card or

electricity key to your local branch and tell them how much you want to pay the Post Office will sort everything out and give you a receipt for your payment

ļƒ»

Soon all benefits will have to be

paid into a bank account and youā€™ll be responsible for paying your own rent and wonā€™t be able to pay your rent by direct debit or standing order.

ļƒ¼

No credit checks, overdraft

facility or charges on the account

Advantages and disadvantages of this account

(8)

Bank Name Name of account Min age Standing Order & Direct Debit

Charge for unpaid Direct Debit or Standing Order

Barclays Cash card

account 18 Yes Ā£8.00 Co-Operative Cashminder 16 Yes Ā£15.00 Halifax

Easycash 16 Yes Ā£10 (max 3 per day)

HSBC Basic bank

account 18 Yes Ā£25.00

Lloyds Bank or TSB

Cash

account 18 Yes Ā£10.00 (max 3 per day)

Nationwide Flex Cash

Card 18 Yes Ā£15.00

Natwest Basic

account 18 Yes

Ā£6.00 (max Ā£60.00 in any charging period)

RBS Basic

account 18 Yes

Ā£6.00 (max Ā£60.00 in any charging period) Santander

Basic current account

16 Yes Ā£25.00

Different types of basic bank accounts

This information is correct as at time of print, but is subject to change. Please check with your chosen bank or building society

Gw

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gyfr

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b

anc s

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nol

Enw ā€™r B an c En wā€™r cyf rif Oe dr an ie ue nga f Deb yd Unio ngy rch ol ac A rch eb Sefy dlo g T Ć¢l a m Dd eb yd Unio ngy rch ol ne u Arch eb Sefy dlo g na s talw yd Barclays Cyfri f cerdyn arian parod 18 Oes Ā£8 .00 Co-Operative Cash min der 16 Oes Ā£1 5.0 0 Hali fax Easycash 16 Oes Ā£1 0 (hyd at 3 y diwrn od ) HSB C Cyfri f banc sylfa eno l 18 Oes Ā£2 5.0 0 Llo yd s Bank neu T SB Cyfri f arian paro d 18 Oes Ā£1 0.0 0 (hyd at 3 y diwrn od ) Natio nwide Cerdyn Arian Par od Flex 18 Oes Ā£1 5.0 0 Natw est Cyfri f sylfa eno l 18 Oes Ā£6 .00 (h yd at Ā£ 60 .00 yn yst od unrh yw gyfnod cod i tĆ¢l) RBS Cyfri f sylfa eno l 18 Oes Ā£6 .00 (h yd at Ā£ 60 .00 yn yst od unrh yw gyfnod cod i tĆ¢l) San tander Cyfri f cyfred ol sylfa eno l 16 Oes Ā£2 5.0 0 Maeā€™r wyb od aeth y n g ywir ar yr ad eg cyh oedd i, o nd gall newid .

References

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