Can my bank change my account to basic ?

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Karendz91

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Post by Karendz91 » Thu Mar 06, 2014 11:56 pm
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I am in an IVA and my bank has emailed me saying they are changing my account to a basic account. Can they do this?
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MelanieGiles

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Post by MelanieGiles » Fri Mar 07, 2014 12:35 am
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Hi Karen and welcome to the forum

I guess the bank can do what they like to you with regard to your banking arrangements with them. Which bank are you with, and what benefits will you lose if they do change the account?
Regards, Melanie Giles, Insolvency Practitioner
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twinmommy81

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Post by twinmommy81 » Fri Mar 07, 2014 2:38 pm
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Hi, our bank did this once it found out we were in an IVA, i don't know exactly how they find out, but we got a letter saying we were being dropped down to a basic account.
This meant we couldn't use all cash machines, only RBS or natwest ones.
Helen
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