Having secured the Cashminder account, they say the rejection for the savings account was based on Bankruptcy! I say I am in an IVA. The Bank say its does't have a policy to say Yes or No to a savings account if you have an IVA.
I then asked if they treat a Bankrupt person the same as IVA, they say they are not sure so can I call tomorrow???
Ridiculous or what? I will get to the bottom of it.
Their both levels of insolvency and some banks systems cant recognise the difference. The coop are strange in general, I asked if I could open a business account and they told me due to being newly discharged from Bankruptcy I would have to py an intimediary service £200 to do it for me.
Bankruptcy and IVA is treated the same by the Co-op when it comes to a savings account.
Some people appeal against the refusal, and I know that Skippy now has a savings account with them after doing so.
The vast majority of the posters on here rate the Co-op very highly. If I ever have any problems with Nationwide, that's the bank I shall go to.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
why do they not allow a savings account?
surely its not credit or has any form of overdraft attached.
you are simply saving any spare cash you have managed to save and try and make it work for you.
can someone explain what the problem is
cc received 6th January 2014 now upwards and onwards
However, if you do challenge it, it appears that they do back down.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
We've just opened a savings account with the Co-Op, but are still in the pre-IVA approval stage. Will it be ok to save money in that account, I am slightly worried that once (hopefully!) our IVA is approved they will close the account on us?
When we opened our cashminder account we also opened up a smart saver account. It will be interesting as to whether they close this as our IVA was approved 2 days ago........
You may find that if the account is already open, that they will keep it open. I don't think they will be informed of the IVA as they're not a creditor.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I opened an account with National Savings and they didn't have a BR or IVA questionon the application form. I can do all my transactions at the Post Office or withdrawals at any ATM.
7 year IVA completed in December 2016 - there is light at the end of that tunnel
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Had a quick look at the website, and it looks as though you can deposit cheques.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
