Co-op Bank

[sjbyron]

Hi
im currently with think banking and although they keep on saying that the waiting times will improve they arent. Ive opened account prior to my IVA being accepted with the co-op, who were one of my creditors, they said i can still use the account and they wont use the right to offset, is this true? Am i safe to use the cashminder account?

Thanks

Stu

[MelanieGiles]

I would try and get them to confirm that in writing, but it will be much cheaper for you to use that account than Think banking.

[Soulgrowth]

Hi Stu

I would tend to be a little cautious ... we hear so many stories here of people's salaries being unattainable in accounts when debts are linked to that organisation.

I would always feel more comfortable with a bank who wasn't one of my debtors ... added to which it contributes to a fresh start.

Debbie

[kallis3]

I agree, many years ago when I banked with Girobank, they took all my salary off me to pay off my overdraft, and closed my account, which left me with no money for the rest of the month.

We're with Nationwide with whom we have no debts so no worries on that score,

[sjbyron]

Thanks everyone, I do have an account with Halifax plc but they said that they may not be able to either offer me banking facilities or a debit card in the next few months now that i have gone insolvent.

Ive just applied online for the Abbey national visa electron bank account with cheque book and its accepted me online, however I dont know whether it does a second credit score like IF.Com does and therefore reject, apparently they are sending me forms to sign in the next few days then they will send cheque book and card, bit weird that I have been accepted since I am now insolvent for the second time and that i havent paid my creditors for a year now.

Think banking keep on saying that they will be improving their customer service wait times but i dont see it happening. I did inform payroll that i am moving from TB to Halifax and then Halifax saying that the account may be closed I had to move back to TB.

Hopefully will get sorted with a bank account.

Stu

[kallis3]

Isn't it a pain though when you have to keep changing your bank with payroll at work, and also changing all your direct debits? You can guarantee that something will go wrong somewhere.

[Soulgrowth]

I was going to suggest Abbey as I am sure that other Forum members have had success with them.

Debbie

[wen]

I believe that due to the Co-op's ethical policies that you may well be safe to use the account... but for my own peace of mind, I would get it in writing.

[Skippy]

As Wen says I think you will be ok - I have heard of the Co-op opening post BR Cashminder accounts for former creditors.

[Adam Davies]

Hi
Think Banking are really letting themselves down with the waiting time on the telephone.My son has an account and is often told that there is a 15 min wait,the phone call rate is not cheap
Co-op Cashminder is great
Regards

[Moneystinks]

Hi

We are with both Abbey and CO-OP. We are having to have a meeting with Abbey to get an electron card. We opened a basic account with Abbey and they gave us £1,000 over draft (which we have not cancelled) and a cheque book has turned up this weekend? We were told the account didn't have one. The bank/account though have been fine. Good luck.

[sjbyron]

HI
I rang Abbey today and they said, yes ive been accepted online, but they need me to send some forms back then they do a final credit check.
So guess I wont get the account, especially with the state of my credit file!
Co-op im really unsure of, they voted for in my IVA but i dont know whether i can trust them.

So guess ill stay with ThinkBanking, never know they may (and thats a big May) sort themselves out.
Unless anyone can suggest a bank that is

a. not associated with Co-op, RBS, HSBC, Nationwide and Barclaycard
and
b. Has local branches to Liverpool/Ormskirk
and
c. Has a debit card either Delta, Electron or Maestro

[Skippy]

I thought that once your IVA had been approved the bank couldn't use the right of offset?

[louisa.s]

I don#'t know about a or b but certainly the Halifax Easycash account will give you an electron card and to date we've had no problem using online or at shops.

You can also do online banking, etc

[dcl]

Have you tried Alliance & Leicester? I opened an account with them about a year ago whilst in an IVA. I applied for a current account online and they gave me an account with cheque book and electron card card and I can bank online. After 6 months they upgraded my card to a visa debit with no cheque guarantee facility.