Basic bank account

[chris.g]

Hiya again, some advice please..... We are filing for bankruptcy in a couple of weeks and trying to open a basic bank account. I was refused by Co-op after applying online and I was wondering if I was to apply in the branch and explained our situation would that stand better than applying online? There is also Yorkshire bank I could try as they are not one of our creditors. I've been using my daughters account for wages etc on the advice of CAB but want to try to get an account set up before we go bankrupt, then hopefully the bank will unfreeze it soon after we file. Or will it be better to leave it until we file and try to set one up then??

Learning as I go along and getting wiser all the time!!!

[wen]

By the sounds of it you were refused a normal bank account, rather than a basic account, as you cannot apply online for the Co-op Basic Account.

Either call them on 08457 212 212 or 01695 53760 (if you have free calls to landlines!), or yes go into the branch and apply there, (take extra ID if you go in branch, just incase you need it).

I called and applied over the phone, and was approved. I mentioned the whole *bankruptcy*, and they said it was not a problem as this sort of account was designed for bankruptcy/IVA, as no credit is available.

[chris.g]

Ok, thanks Wen, I will go into town tomorrow and call in the branch, will I just ask for the basic account? What type of ID, normal passport/driving license/utility bill? Also, do you know if we would be best off setting up seperate bank accounts or can we open a joint account?

Learning as I go along and getting wiser all the time!!!

[Skipper]

I'll go to the Halifax and do it online as I did.It was painless.

There are MORE branches than the Co-op There are 4 Halifaxes in my area and one Co-operative - and is not even local.

As Nationwide no longer open accounts for BR -Halifax or Bank of Scotland(same company) is the best choice. The Halifax have a special pay drop service so you wouldn't need to queue.

The Co-op is a bit odd as some people posting and have on IVA or BR been refused it without unxplanation??

<<My motto:I am proud of black culture and is against racist bigotry>

[wen]

True there are more branches of the Halifax over the Co-op, but you can pay cash straight into your Co-op account at the Post Office (insert your card in their card machine and give them the cash and it credits straight to your account.) You can also pay cheques in too at the PO.

Even after the PO closures there will still be 12,000 PO's - probably a few more than Halifax branches [;)]

Personal preference... personally I had a business account with Bank of Scotland and so due to one thing and another and the way we were treated, do not speak highly of them, whereas the Co-op have been professional and very understanding of our situation.

Chris, yes if you want to go into the Co-op and open an account, just say you want to open a Cashminder account. ID is passport/Dlicense/utility bills for you and your other half, showing name and address (take all to be sure.)

[chris.g]

Unfortunately Halifax is one of our creditors. Looking on the forum at the list of related banks/creditors I think there is only Co-op & Yorkshire Bank that we could go to, apart from the ones that charge a monthly fee.

Learning as I go along and getting wiser all the time!!!

[wen]

Also, it's up to you if you want a joint account or single accounts. You CAN have a joint account, but it's your personal preference

[chris.g]

That's good news, wasn't sure if you could have a joint basic account.

Learning as I go along and getting wiser all the time!!!

[Skipper]

Halifax is one of my creditors too, they know this but I still opened the account with them??[:D] But I opened mine after the debts were sorted -IVA approved.

Wen, about been able to pay in to PO for your co-op account this is a very good feature and goes in immediately.So that sorts out the low branch numbers of the Co-op but the queues at PO tends to be long these days....[:(]so I still go with Halfax. With the Halifax you can put in in an envelope and dump it into a dispenser. No queues![8D] There are dedicated Easycash account phones in the Hal and you can ring free[:D] for any Bank enquiries. You can't do that in the PO.[xx(] The PO is for PO needs. Good for the Co-op to use the PO to its advantage.

<<My motto:I am proud of black culture and is against racist bigotry>

[chris.g]

Will bankruptcy be the same as an IVA though? They've got little chance of getting the money back that we owe from bankruptcy as opposed to an IVA. I was under the impression that any creditors wouldn't allow you to open an account with them....

Learning as I go along and getting wiser all the time!!!

[wen]

With BR i'm not sure what HBOS's policy is.

Skipper, you have good points with regards to PO queues. For me personally, I live in a town outside of Exeter, and there is only one halifax & Co-op in exeter, and I don't have either in my town, but I do have a PO, so for locality if you're not in a built up town, the co-op may be easier as chances are you'll have a PO nearby.

Granted if you had a bank issue, then the Halifax would have the advantage, but for the purpose of a basic account, I wouldn't have thought in the short term (next 5 years or so) that you would need to go into branch, and the co-op call centre is 24/7 in the UK, not sure about Halifax though.

At the end of the day, each to their own really. Like I said previous, BOS screwed me a lot when I had a blip with my business, so i'm not likely to have any positive thoughts on them or the Halifax! [}:)]

I'm surprised that the Halifax allowed you to open an account with them as they are a creditor (granted it was after the IVA was approved. Maybe they think one day they'll get some charges/interest out of you to make up some of the debt!!!

[wen]

[:0][:0][:0]

I wonder if i'll have the same luck with HSBC after my BR... LOL (I think not!!) [:D]

[chris.g]

I don't think I'll chance it though!! They might just swipe all my money while I'm not looking!!!! LOL. Seriously, paying a visit to co-op first thing tomorrow to try opening a basic joint account, let my daughter have her account back.

Learning as I go along and getting wiser all the time!!!

[wen]

Hope all goes well Chris, let us know how you get on

[chris.g]

I will Wen, good night, xxx

Learning as I go along and getting wiser all the time!!!