First Direct

[joh71262]

[:(!]

I received a phone call from First Direct yesterday, giving me 30 days notice to close my current account as I have IVA's registered against me, due to policy changes by HSBC.

I have banked with them for over 13 years and this makes no difference - note I chose NOT to include them in my original IVA as I actually rather liked them as banks go !

I am still allowed to keep my mortgage with them however.

The stupid woman on the phone said that they are trying to be responsible lenders (too late for that me feels !) and close accounts for people with IVA's - well hello, I still owe you over £80k on my mortgage and you won't accept my salary which is in excess of £1500 a month INTO an account ????

Does anyone else see the irony in this ?

Anyway, I have just tried the STEP account with Nat West and was declined because it tells me that I have been made bankrupt ! Um - well that's the first that I have heard.

I am in desperate need of a new current account and, if at all possible, would like to move my mortgage - I don't see why I should pay them a penny more when they won't let me keep a current account open with them.

Can anyone assist please ?

(Thank heaven for these Forums - thank you to whomever started them)

[:D]

[aguise]

Hi there thinkbanking will accept you look it up, dont think they could help with the mortgage, but all are accepted the ac is designed for those with money problems look at the managed account a few on here have the ac and though there is a charge of 12.50 a month you do get a maestro card, so at least a debit card. I have the account and am quite happy you can ring them and open the ac over the phone or just get info from them.

Ang

[lily]

That is so stupid, they know I couldnt maintain my repayments and yet still they offered me another loan to consolidate. Whats responsible about that???

I got a new account with co-op with a debit card, its best to go in person though, they were very nice too and I was honest with them.

Good luck

lily

[joh71262]

[:I]

Well I have tried with the Abbey online so I await the outcome although it did mention bankruptcy (not IVA's specifically) and CCJ's but I will have to contact DebtMatters tomorrow and talk with them anyway.

Thank you for the advice and good luck.

[thebear29uk]

Hi Joh

From the experience of other members I would suggest you go into a branch and be up-front with them. On-line applications tend to default you out because of your credit report.

Try Nationwide or The Cooperative Bank but go in person.

Regards

Dave

[Adam Davies]

Hi
It does seem that most banks class an IVA as bankruptcy on their files.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[iva experts]

I agree with Bear I think the best way to go about this is to go into the branch and apply then and there.

Im not certain who your creditors are but as long as you dont open a bank account with one of your creditors you should be fine, try the following banks:

- Lloyds Classic Account
- Halifax Easy Account
- Barclays Basic Account

Hope this helps.

Best Regards. IVA Experts

[joh71262]

Thank you all for your advice.

I went into the Co-Op and now have a Cashminder Account. The young man that I spoke to said that they rarely turn anyone down for one of these accounts. I have spoken to them several times, and you know what, they are helpful and even BETTER than First Direct !!

Guess HSBC have shot themselves in the foot again for their own greed. Once I am further down the road and have to look at the euqity release situation, I would also like to try and move my mortgage as well !!

[Skippy]

Glad you got an account sorted out. I'm with the Co-op and everyone I have dealt with has been lovely. If I had my way everyone would close their HSBC and First Direct accounts - I hate them with a passion. When my uncle was told he had terminal cancer they were very unhelpful and obstructive when he tried to put the bank account into my aunt's name only - unlike Nationwide, who she now banks with. They seem to forget that they are actually a service industry!

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[nekhen]

Yes I have had the same done as well. Apparently HSBC and First Direct are the only banks that ACTIVELy search for people with IVAs. I am challenging this as they cannot substantiate their policy. Also I have been turned done for a STEP account also. And that I am a bankrupt.

[:(!]

I received a phone call from First Direct yesterday, giving me 30 days notice to close my current account as I have IVA's registered against me, due to policy changes by HSBC.

I have banked with them for over 13 years and this makes no difference - note I chose NOT to include them in my original IVA as I actually rather liked them as banks go !

I am still allowed to keep my mortgage with them however.

The stupid woman on the phone said that they are trying to be responsible lenders (too late for that me feels !) and close accounts for people with IVA's - well hello, I still owe you over £80k on my mortgage and you won't accept my salary which is in excess of £1500 a month INTO an account ????

Does anyone else see the irony in this ?

Anyway, I have just tried the STEP account with Nat West and was declined because it tells me that I have been made bankrupt ! Um - well that's the first that I have heard.

I am in desperate need of a new current account and, if at all possible, would like to move my mortgage - I don't see why I should pay them a penny more when they won't let me keep a current account open with them.

Can anyone assist please ?

(Thank heaven for these Forums - thank you to whomever started them)

[:D]

[wen]

And then you have the othe end of the spectrum, where I have been bankrupt for over 2 weeks, I have written to HSBC to say I was going bankrupt, then again when I was declared bankrupt, the Official Receiver has written to them to notify them of the bankruptcy and guess what? The account is still active..... Of course it's about £1,600 overdrawn so I wouldn't be using it anyway, but still [}:)]

[Skippy]

Hi Nekhen and welcome to the Forum. Natwest don't offer their Step account to undischarged bankrupts. The only banks who will open an account are Co-op (Cashminder) and Barclays (Cash Card Account). The best one is the Co-op Cashminder which gives you online banking and a Visa Electron debit card, which Barclays don't.

[nekhen]

Hi Nekhen and welcome to the Forum. Natwest don't offer their Step account to undischarged bankrupts. The only banks who will open an account are Co-op (Cashminder) and Barclays (Cash Card Account). The best one is the Co-op Cashminder which gives you online banking and a Visa Electron debit card, which Barclays don't.

[nekhen]

Hi Nekhen and welcome to the Forum. Natwest don't offer their Step account to undischarged bankrupts. The only banks who will open an account are Co-op (Cashminder) and Barclays (Cash Card Account). The best one is the Co-op Cashminder which gives you online banking and a Visa Electron debit card, which Barclays don't.

Hi. Oh that is interesting that Natwest dont offer their Step account to 'undischarged bankrupts'. I was informed by my insolvency practitioner that an IVA was not precisley that. Also an official FSA document states that the Step account is available to IVA, undischarged and bankrupt. I have applied for a Co-Op cashminder. Am still waiting fater the the 48 hours they gave me for a decsion - i applied over the phone on tuesday evening. I am hopeful as my friend who went bankrupt got one. By they way we werent connected financially. Cant apply to BArclays as they are one of my creditors.
I am really nterested though on the First Direct business. They have been completely useless. I have received letters from them effectivley accusing me of NOT telling them I was in an IVA. I had no O/D or debtswith them. Also their Terms and Conditions clause (13.4)is so vague neither of the four customer agents i have spoken to can answer the reason why. The fellow I spoke to yeaterday keep saying it was polic, so i asked him if I could see the policy pertaining to this as the Terms and Conditions did not reflect this.He refused and said it was not for public consumption! Anyway, the upshot is that they claim it is a chnaged in circumstances, and various other reasons none of which anyone at First Direct can substantiate. So I will challenge and probably bank with the Co-Op.

[Skippy]

Sorry, I completely misread your post and thought that you were bankrupt! However, I have heard that Natwest seem to have a problem distinguising between a bankruptcy and and IVA.

I have heard that Abbey are very good and a few people on here haven't had a problem opening an account with them. Yorkshire bank have also been recommended.

Sorry for the misunderstanding.