guaranters

[ginger 69]

can someone be a guaranter for a bank account.

[Oneeyedvic]

In theory yes, but since a guarantor is liable for any repayments, in practice most bank accounts do not have high amounts of debt (overdraft being the main / only form). it probably isn't worth giving the customer an overdraft if a guarantor would be needed.

 

A mortgage and normal loans often do ask for a guarantor though.

[stevie21]

At one bank I know of (Not Bank of Stevie, we're too clever for this) your very very rich friend could open a bank account & be approved as they have a great credit history.
If they then wanted to convert the account to a joint account (i.e. add you to it) then no additional credit search would be carried out so you would then have full access to the account & facilities.
If you felt like it, you could both then remove your rich friend from the account so that it was in your name alone.
The only drawback at all (and it may not even be relevant) is that you couldn't later change the account to a joint account again : you'd be unable to add anyone at all to the account.

You could speak to your own bank (or any bank) and ask if credit searches are carried out on a 2nd member being added to an account.
Or you could conclude that as you are being denied credit by more than one lender, that they're all making a valid and sound decision which may change once your circumstances improve.

[Sammy Snake]

Not totally sure what Stevie21 is on about, but to answer a point in his answer, at least one high street bank does credit score anyone applying to add their name to an exisiting account.

This bank having the initials of NW...

[Sammy Snake]

* and/or credit search

[stevie21]

Sammy, I think my post is quite clear. I'm not mentioning the bank's name is such a public forum but if ginger applied for an account there and was declined due to a credit search showing arrears elsewhere then I know for a fact that I would have no trouble adding ginger to my account and converting it from a single account to a joint account with him/her.

p.s. ginger, are you a him or a her? I'm bored of typing "him/her" and "he/she" all the time :)