Basic Bank Account

[Second Chance]

Hi, I have just at the start of my IVA and wondering if someone could advise me about a basic Bank Account, I have a Basic Card Account with Nationwide and I have heard that they don't like the IVA, could they find out about my IVA? and close my account?
Do you think its a good idea to try opening another account just in case? I heard about the Coop bank cashminder but since SMILE internet bank is one of my creditors which I believe is a part of Coop, would I be able to open an account with them?
Thanks

[Skippy]

I am bankrupt and have an account with Nationwide, although they are no longer offering new accounts to undischarged bankrupts. I rang them anonymously and asked if they would close the account and they said no, they had no plans to do so. I would imagine this would apply to people in IVAs as well.

If you do want to open another account, have you tried the Halifax, Abbey or Barclays? They all do basic bank accounts, as do Lloyds TSB. Stay clear of HSBC and First Direct as they close the accounts of people in IVAs.

Good luck with your IVA!

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/

[Anika765]

If you already check I don't see them canceling your bank account, but just to be safe I would maybe look into other banks or options so that your money will be safe. The only thing you will need to watch is overdraft because they will be more likely to shut down your account if something like that happens! Here is a site that has a list of banks in the UK that do basic accounts if you wanted to take a look!
http://www.moneyfacts.co.uk/banking/bes ... ounts.aspx
Also you could take a look at this site that has an article over terms and conditions that you should take into account be attempting to open a basic account, because getting denied never looks good on your credit history!
http://uk.moneto.eu/investment/current/terms/
However, in the end your bank claimed they had no intention of closing your account so I don't see why they would suddenly change their mind unless they have any problems with your spending, or I guess over-spending in that matter! Hope you find this useful [:D]
Regards!

[louiseh]

I have a current account with the nationwide, been in an iva for a year now, they haven't closed my account or reduced it to a basic account.