Bank Accounts.I think I've been stupid!!!

[cat 1]

Hello.
I have asked about bank accounts previously and although I was advised to change from the RBS 'just in case' they decoded they didn't want me because of the IVA...well I've not done so. Possibly very silly of me and now I'm panicking. As in my wisdom decided whilst banking on line (obsessively checking my statement)I decided that the sensible thing to do would be to open an on line saving account that I could swop money between and save on a regular basis.
I've completed the joint application.Agreed a transfere amount and regular amount and they have said yes in principle. This is when it struck me. They will do a credit check and boot me out won't they?
Tell me again which banks like IVA people.
I really do need a cheque book, switch and cash card to function effectively.How long a period of notice is generally given to get oneself organised.
Why don't I think and listed to advise in the first place..I remember.It was near xmas and I couldn't stand the thought of another afternoon of phonecalls to get the DD's and SO's sorted out.
Cat

[emma_t]

Hi Cat 1
I think now you are in an iva you may find it difficult to get a standard current account with a cheque book and maestro/visa debit card, but no harm in trying. I opened my account pre my iva so got this as standard as my credit rating was good then.
You will be able to get a basic bank account no problems now with a maestro solo or visa electron card but I don't know about cheque books.
A savings account should be no problem to open when in a iva as tey have no credit facilities - I have mine with the co-op which I have found great so far.
Are your bank RBS included in your iva? If they are not one of your creditors they may not automatically close your account as you are in an iva - I think its only HSBC/first direct that do this as a matter of course.
Good luck and don't panic
Emma

[hara]

Dear cat1,

If you are in IVA I do not think you will get a cheque book.

CO-OP will open an account for you,even if you are in IVA.If considreing co -op,I strongly suggest you visit a local branch and NOT do one on line.

Try Yorkshire.I did one before IVA and explained that my credit history is not good and I needed an account for salary deposit,DDs and debit facilities.I have a maestro card.If you explain that you do not have good credit history they will open a account with out credit check on spot.YOU WILL NOT GET A CHEQUE BOOK.You need take passport or driving licence and a utility bill.

It is better to visit a branch,on line is for people with money.

Hara.

[luluj]

Smile (part of the Co-O) - we opened ours after the IVA was approved and we got a visa debit card and cheque book - also a linked savings account which is handy to transfer the car maintenance and emergency fund money over to each month. I applied on line and it all was approved in a matter of a few days.

Lulu

[Soulgrowth]

Hi Cat ... I changed my account pre IVA almost two years ago now. I have a standard Nationwide account with just a cash card. I haven't used a cheque book for two years ... indeed, many places are phasing cheques out now anyway. I manage very adequately with a combination of my Nationwide cash card, online banking where I can do BACS transfers, and my Cashplus card which has probabaly been the greatest God send.[:)]

Debbie

www.familyceremonies.co.uk

www.soulgrowth.co.uk

[cat 1]

thank you everyone.I will address this.I can't see how I would manage without a cheque book even though the only way I use it is to pay school realated stuff and now the 50% thing to the IP each month.My kids couldn't wander around with lots of cash on them.Thanks again.cat

[Shining]

I totally agree Cat 1, I find it very hard without a cheque book, not for shopping but for school things. If our school ask for a 'voluntary contribution' of just £2 they want a cheque. I have no cheque book and daughter hates going to the finance office so I end up going. Mind you a small price to pay for me to be debt free.

[caraf]

My iva was approved on the 27th Dec, I applied online for a smile current account, which was accepted. and got a debit card and chequebook. Like you I cannot live without a chequebook for school things too.

[BECKY]

How long have u had ur iva. Im with smile and got a chequebook and debit card but that was during the iva process. I've since tried for a savings account with them and was turned down .

[Shining]

I'm not actually in an IVA at the minute, proposal being finalised (this week hopefully). Might it be worth trying do you think?

[BECKY]

If u arent yet in an iva smile are definatey worth a try. My current account gives me a chequebook , visa debit and £500 overdraft , I just asked them to remove the overdraft once it was up and running and ive never had any problems with them.

[cat 1]

caraf, did smile know about the IVA when you applied? It tends to take a few weeks to 'get organised' so you might not have been put on the insolvancy register at that point? I always had an account with RBS but never used it. My family allowance went into it that's all. Hence, didn't say anything when going through the IVA to them.I specifically asked did I need to to my IVA company. The reply 'this is the only time you might have to tell a little white lie'.Melanie said IVA people could have a cheque book. Is smile a high st bank? Haven't really heard of it? Cat

[Skippy]

Smile is an internet bank that is linked to the Co-op.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[caraf]

My IVA was approved on the 27th December but not had any paperwork yet, ie. chairmans report. I applied online for a smile account and got it approved with a £500 overdraft but again I sent a message saying I didnt require it. I have today applied for a smile savings account to run along side it and again got that approved today too. So got everything I need now.

[Shining]

I applied yesterday and have an email today saying I flew threw the checks! Has got a £500 overdraft which I need to get removed, have already emailed my IP to ask if it is ok for me to have this account, but it would certainly be a godsend to the school situation and only intend to use it as an emergency account. Having only Family Allowance paid into this, leave everything else with the Natwest Step account which I am very happy with. I will contact them to remove the overdraft once I receive a mail from my IP advising on the account, I don't want to mess anything up at this time as I feel I am so close to having my proposal finalised.