First Direct Closing My Account

[kallis3]

Excellent news on the Co-op but they don't do savings accounts for those in an IVA.

It is silly that you can open more than one account though!

[kazzafunk]

I think I can see the Co-op's logic with savings accounts. They are IVA and BR customer friendly and possibly don't want to be held accountable for paying interest to customers who are in debt and having debt wiped out. By allowing 2 x cashminder accounts you can save what you want and they don't have to pay you any interest.

[howard07]

Hi we were with First Direct prior to IVA and didnt owe them anything, they were awful with us when we told them about the IVA, closed our accounts and were very rude about the whole IVA. We went with LLoyds who so far have been great but the dont know about the IVA.

As herbekj has said......we are the future debt free (learnt our lesson in a big way) I cant wait to reject their credit offers lol xx

I took First Direct for a good few thousand pounds in my IVA, i dont feel so bad now i know how they treat people who are trying to come good.

before i went into IVA i got an account with the Halifax, and they have been superb, and they know about my IVA as well, cos i had a need to tell them, their comments "we have no problem with your banking arrangements or your accounts, so we have no concern with your IVA"

I also have a Co-op cashminder account and thats been great as well, easy to pay in and easy to draw out, plus debit card and direct debits etc. First class banks both the Halifax and the Co-op.

[kallis3]

Halifax took £34 from my account to offset against a £20k plus debt so you'll forgive me if I don't sing their praises!

[Grumple]

We have a cashminder account with Co-op and we also have an online savings account with them. The savings account just had to go through a review process and we had the documents in the post within a couple of days. Can't sing the Co-op's praises enough!

[kazzafunk]

I'm glad I opened my ISA with the Co-op before my IVA was approved. It's great to be able to switch money around immediately and they are always very friendly on the phone

[joh71262]

Hi Ian

They did the same to me in 2006 when I first took out my IVA - but they only gave me 30 days back then. I went with the Co-Op and they have been really good - online banking and 24/7 phone banking too.

I also downloaded Microsoft Money which you can get for free as it's no longer supported, but I haven't had a problem with it on Windows 7/Office 2010.

However, I tried to change to a current account with Co-Op in May and they said no, so I decided to wait a few months and have just phoned First Direct (my mortgage is with them) to see what's what.

Even though my credit file is clear now, they flat out refused as they said they knew I had been in a IVA in the past. I was quite cross at this and actually wonder about the legality of it.

They will never have you back as a customer. As many have said, we are the ones that have learned the hard way and now have money in our pockets !!!

[Niobe]

I wouldn't touch them or HSBC again (one of my creditors) with a ten foot barge pole!!!

[recovering]

I am with Co-op cashminder , looking back I remember they offered me a "better" account over the phone but I was in such a tizz pre IVA I just wanted it done asap so insisted on the most basic[:o)], however I did get an ISA with them and both accounts are so easy to use online

[UpToMyNeckInIt]

Hi All,

Creditor's Meeting End of July - now in an IVA. Thought I could now sleep at night, but now I'm worried: Prior to arranging my IVA, I switched current account to First Direct and (being self-employed) my business account to HSBC (HSBC/FD are not one of my creditors). Would like to know how FD 'found out' about your IVA status. Presumably, if I don't tell them about the IVA and/or don't go overdrawn (didn't even take FD's £250 overdraft that the practically tried shoving down my throat when I opened the account), I should have nothing to worry about? (My IP is of the same view). Anyone got anything remotely nice to say about HSBC?!!!

[Skippy]

Hi and welcome to the forum.

You really need to avoid HSBC and First Direct as they trawl the insolvency register and close the accounts of anyone who is in an IVA or is BR.

The Co Op come highly recommended on here.

[Niobe]

Nothing nice to say about HSBC at all - they do trawl the register as Skippy says and are well known for closing accounts.

You need to change asap.

Both them and First Direct check the Insolvency Register regularly.

[UpToMyNeckInIt]

Thanks for the reply: I'll see if they keep the account open long enough to claim my £100 for opening the account (then again, if I close it on the basis of being a dissatisfied customer - hopefully before they boot me out, they promise to give £200). Let's see if I can beat them at their own game!!! Better open another account in the meantime.

[Niobe]

Hope you can do it - I doubt you'll beat them though!!

[UpToMyNeckInIt]

Thanks Niobe - I will keep the forum posted.