Bank account

[Jessjj]

So ive been in my iva 2 years now, i had a basic nationwide account.

However I opened a monzo account because i liked the get paid a day early feature, so i did the switch which closed the the nationwide.

I want to reopen an account for day to day spending and keep monzo as bills, but ive been looking and they all say you cant open a basic if you already have a uk account with somebody else!

Does anybody have any suggestions

[Foggy]

I had an account with Halifax before my IVA and I opened an account with Nat West as a new account, just leaving the Halifax account dormant ( I transferred all DDs etc manually, as there were some I didn't want transferred, like creditors). So, at that point I had two accounts. Then I got wind that Nat West was allied to one of my creditors and, so, to be on the safe side I opened a Cashminder account with the Co-Op --- actually, I opened two: one I used for DD's and regular expenses and the other for spending (groceries, petrol and stuff like that). Again I left the other account dormant. So .... I had 4 accounts !! After my IVA finished the Co-Op rolled my two basic cashminders into one 'grown up' account and I use that for the bills, DDs etc. The NatWest account I use for spending money (groceries, petrol, fun etc.) and the Halifax account is still sitting there with 14p in it. So. I am down to three accounts. I have never come across anyone saying that you can only have the one account.

[Stevedgn68]

Re. Beware Barclays Basic Account - a Warning

We have a joint Cashminder with Coop who have been very reliable even though their online statements are almost indecipherable. We use this for Direct Debits/Standing orders and 1-off household payments. However, they only have a few branches left

I had to open a Barclays Basic (and Oh is it Basic!) Account. when HSBC closed mine. They was

A warning for others on here.:

Barclays Basic does not offer Online or Telephone Banking on their Basic Account even during COVID. As our Branch has very limited opening hours and facilities this is a real problem - even more if you are self-isolating. The lack of Online or Telephone Banking extends to being unable to use any of the machines in Bank Branches too!

I have raised this is every year and again Jan 2021, but all I get is "That's our policy and we can't/won't change it" There is no logic to it as there is no greater risk for them when you think of it.

BTW - they told me in January that they will provide these services if you are a Bankrupt..... ...odd

For info unless someone here knows of an IVA-friendly Bank who will also give you Online or Telephone Banking services.

S.

[tim595]

I don’t know the answer to your question about multiple accounts however I have been using Monzo as my main account since my Iva started. I don’t feel that I need another account as you can pay direct debits form the pits feature. I find the pots extremely useful for managing N my money. When I get paid I put all my dd in one pot which I don’t touch then I have pots for the car food etc etc. It’s so easy and has really helped me out money away for unexpected expenses, anyway just thought I would share this with you. Good luck with the bank accounts.

[Foggy]

I don’t know the answer to your question about multiple accounts however I have been using Monzo as my main account since my Iva started. I don’t feel that I need another account as you can pay direct debits form the pits feature. I find the pots extremely useful for managing N my money. When I get paid I put all my dd in one pot which I don’t touch then I have pots for the car food etc etc. It’s so easy and has really helped me out money away for unexpected expenses, anyway just thought I would share this with you. Good luck with the bank accounts.

That is interesting, Tim. Basically a high tech way of doing what many of us did in the early days, using jars and envelopes at home !