Bank Account

[beany67]

Hi Guys .. first post on here..
Just need some advice and confirmation really. Just got the ball rolling on applying for IVA and have opened a new bank account but i think i have made a mistake. I have opened the account with HSBC as they are not one of my creditors but is it true that once my IVA goes through ( fingers crossed ) they can close my account just on the grounds of being in an IVA?

[Skippy]

Hi Beany and welcome to the forum.

Unfortunately the chances are HSBC will close the account when they find out that you are in an IVA. I would suggest opening a different account. If you credit rating is still ok you would be able to open a full account (no overdraft), but if not the Co-op Cashminder and Natwest Step account both get good reviews on here.

Good luck with your IVA x

[beany67]

Thanks Skippy for your quick reply..just when i thought i had got everything sorted .. typical but will keep smiling and go and see our friendly co-op people. The good thing is i have passed a credit check with the co-op and have the docs at home waiting for me to action but due to how far the co-op branch is away i went to the local HSBC, we live and learn

Thanks for the good luck message as well

[Skippy]

Have you been approved for a full account with the Co-op?

Don't worry about not having a local branch, you can use the Post Office, and their telephone customer service is excellent.

[beany67]

Yes, but i think i will down grade it because i dont want the overdraft facility.

The HSBC one as just been opened and due to early xmas pay i think my wage is going to get paid to there but because my IP is still receiving all my evidence etc etc i dont think im in any danger as of yet...never thought of the post office..thankyou i will have a look on there web site

[Skippy]

Don't worry about it at the moment, I think they give you 30 days notice before closing an account.

I wouldn't downgrade the Co-op account, I'd just ask them to take the overdraft off. I had a full account with Lloyds and all I did was tell them I didn't want the overdraft and it wasn't a problem.

[beany67]

Actually skippy what i meant was i have been approved for a bank account with the co-op but need to get to one of there banks with my ID proof before im issued with an account number and debit card..sorry my mistake for not making that clear

[plasticdaft]

I have a co op account and live nowhere near the closest branch(30 odd miles away). I have never had any problems running the account and am very happy with it.
I didnt have to provide ID to get account up,though I did set it up prior to declaring myself skint(sorry insolvent!!)

Paul

[beany67]

Hi Paul

How long have you had that account open for if you dont mind me asking?

Only reason i ask is how do they know you were who you said, surely you must have provided proof of address?

[kallis3]

As long as you are registered on the voters list then you should be ok with the Co-op.

[Shining]

Hi and welcome to the forum from myself too, Co-op does come highly recommended from lots of posters on here, I have a Natwest Step account and I'm happy with that. Hope you get your account sorted and you carry on posting to let us know your progress through the various stages of IVA x

[beany67]

Hi Folks

Many thanks for the advice, im just in my infancy on all this so i really appreciate all your input.

Well been to see our friendly co-op people and what can i say but they were great. I wasnt grilled like i was at the HSBC and made to feel like i was committing some crime by opening a bank account. So the only thing i will need to sort now is transfering my DD's but they did offer but not sure about you folks but that is something i like to control myself

I will keep posting about the progress of my IVA and i hope in time i can advise others as you are for me...thanks all again

[MelanieGiles]

Glad that you have had good service from the Co-op. They are very consumer friendly, do not prejudice against people with financial difficulties, and are the main bank I recommend my own clients to.

[plasticdaft]

I remember walking into the local HSBC and being made to stand like a naughty schoolboy in the corner of a very small branch for 5 minutes until the manager motioned for me to come to the counter where he told me that I wouldnt get an account with them because of my financial status.

I have had many red faces in my life but I think that day was the worst and a real low was felt for hours,until I phoned the co op and was treated as a new customer,not as a criminal!!

Paul

[Shining]

PD that's awful and they were my biggest creditor they used to throw money at me. I'm with Natwest now and I'm happy with them as they treat me like an individual.