Get expert opinion. This is the place for new questions to be posted.
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ruetheday
- Posts: 28
- Joined: Sun Jun 10, 2012 1:28 pm
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With my IVA coming to an end I am interested in moving my current account from Secure Trust Bank (who were recommended by my IP when I started my IVA) to a normal current account. I am paying £12 a month for an account that has been great during my IVA but from which I receive few benefits for the monthly fee. I have had a look at comparison sites and some banks will not even let you apply if you have an IVA. Does anyone know a good bank that accepts us IVA payers? I will soon have a lot more money to bank - surely someone wants it...?
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SUC
- Posts: 152
- Joined: Thu Mar 28, 2013 9:30 am
- Location: United Kingdom
Post
by
SUC » Sat May 24, 2014 5:47 pm
What can I expect from my Bank (NatWest) once I enter an IVA?
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Shining
- Posts: 27019
- Joined: Thu Sep 20, 2007 8:57 am
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I'm thinking you whilst the IVA is on your credit file it may need to be a basic account but you can still have a high street account.
I had a high street NatWest account throughout my IVA. Still have the blue card though and would like the purple one as I'm still with them and hoping when it expires hoping to upgrade.
Lots of paying accounts out there with benefits too.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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Little miss trouble
- Posts: 311
- Joined: Mon May 07, 2012 10:56 am
- Location: United Kingdom
My Iva was on my credit file when I applied to Barclays . I was upfront and honest. They gave me a current account. No overdraft which I wanted and a debit card. No fee. Go for it as long as they are not a creditor x
5 years done and dusted. Certificate received.
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ruetheday
- Posts: 28
- Joined: Sun Jun 10, 2012 1:28 pm
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Thanks for the replies - I will check out barclays
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MerlinL14
- Posts: 1626
- Joined: Sun Oct 30, 2011 2:44 pm
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Please let us know how it goes with Barclay's as I too am entering the twilight of my IVA and wish to get a high street account. I am also with Secure Trust at the moment.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
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ruetheday
- Posts: 28
- Joined: Sun Jun 10, 2012 1:28 pm
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will do Merlin
i think secure Trust has been great for me as i can't overspend or be charged for failed direct debits etc. but for £12 a month other people are getting breakdown cover and travel insurance and other benefits...
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Shining
- Posts: 27019
- Joined: Thu Sep 20, 2007 8:57 am
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Hope you both get your high street banks with added benefits if that's the account you choose.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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MerlinL14
- Posts: 1626
- Joined: Sun Oct 30, 2011 2:44 pm
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Thanks ruetheday. Yes, Secure Trust account has been fantastic but you are right the £12.50 a month is just not going to work once I am out of my IVA, I would also like to have just a Visa debit card rather than the prepaid MasterCard. I only hope any high street account I get has the same great online facilities Secure Trust have.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
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Rickne
- Posts: 235
- Joined: Tue Mar 11, 2014 4:13 pm
- Location: United Kingdom
Just to add to this that my Natwest select account I took out just before my IVA started has just been downgraded to basic. This however has little affect on me as it isnt as restricting as it sounds.
Completed via Early exit loan on year 4
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MerlinL14
- Posts: 1626
- Joined: Sun Oct 30, 2011 2:44 pm
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I got a letter from Barclays today. They have accepted my application for a "cash card" account. Debit card, no overdraft no cheque book. Online and telephone banking.
Last edited by
MerlinL14 on Mon Jun 09, 2014 5:18 pm, edited 1 time in total.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
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Ruthlyn
- Posts: 55
- Joined: Sat May 31, 2014 2:49 pm
- Location: United Kingdom
Nat West basic is fine - just have to remember that you can't use the debit card at pay at pump petrol stations or any other cashpoint other than NatWest or RBS
The secret of change is to focus your energy,not on fighting the old but on building the new
Socrates
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MerlinL14
- Posts: 1626
- Joined: Sun Oct 30, 2011 2:44 pm
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All swapped over to Barclays bar a few things that secure trust don't allow using the banking switch procedure. They allow the switch over of all DD and standing orders, however you have to manually transfer any money left in you account and then phone Secure Trust to close the account. Anyway, I now have a high street account with a debit card
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
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seagulls
- Posts: 318
- Joined: Thu Jun 07, 2012 8:28 pm
- Location: United Kingdom
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Little miss trouble
- Posts: 311
- Joined: Mon May 07, 2012 10:56 am
- Location: United Kingdom
Fantastic news. I bet you feel really proud. I know I did. You can even get a photo on yr card x
5 years done and dusted. Certificate received.
