bank accounts

[cat 1]

hello.This forum is so useful. Does anyone know if I'm about to have problems with my bank account. My IVA had just been accepted. We clearly had to change accounts. Now we're banking with the Royal Bank of Scotland. I have a debit card and cheque book and they know nothing about the IVA. Itappears from reading stuff that some banks don't like them and stop the account.Let me know please. thanks .Cat 1

[Adam Davies]

Hi
As long as you have no debts with RBS in your IVA you will be fine.
Just make sure that you do not take any credit and that includes using an overdraft
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[iva experts]

Hi Cat,

Lenders can close down individuals bank accounts for any reason, however HSBC/First Direct have been known to search the insolvency register and close down their insolvent client's bank accounts.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/

[joh71262]

Beware.

I was a vicitm of the First Direct police ! They suddenly gave me a months notice when they found out I had an IVA - a year after I had told them !!!

They claim it was down to policy change. The fact I had banked with them for nearly 15 years meant Jack. I would beware that RBoS don't do the same at some point. Getting a cheque book with a new account will be almost impossible.

Maybe worth opening a Cashminder account with the Co-Op just in case ????

[jjs]

I was also a victim of First Direct. They did exactly the same to me. Gave me a month's notice and then closed the account. I managed to get a cashminder account with the co-op. It's hard, to get another account when you're on the insolvency register, therefore I would act quickly.

[cat 1]

Thanks.Do you mean as a precaution open the new account as well as the RBS one? CAT

[jjs]

Yes, as a precaution. You don't want to find yourself with no account if the RBS close the one you've got. I tried LTSB and RBS and the both turned me down. The co-op said yes.