HSBC

[vickir]

Hi all,
Was a little worried yesterday when i read that HSBC could close my current account at any time - its only a basic account and they were never one of my creditors. So worried that i went into the bank today, and told them of my IVA, they were really good and said that they would not close my account unless they were told to by the IP or the court.
Panic over!!

[wen]

vickir - I don't want to worry you, but I would move your account to someone else who is a non-creditor too.

The IP or court will not tell them to close your account, but there are computers/people who scan the Insolvency Register (which you are on), and they will give you 1 months notice to leave them. They have a policy to do this, so while you may have been reassured by someone in a branch, do not underestimate the people or computers that work in the HSBC ivory towers!

I can recommend Co-op bank who will offer you a debit card, and excellent customer service. You can ring up and apply over the phone. It is called a cashminder account.

Other accounts are Natwest (which i think is ok if you have an IVA), and you get a Solo debit card, and more branches then co-op.

Depends who your creditors are though.

Be safe and move is my honest opinion. You'll sleep better if nothing else!

[pixie]

It's always a good idea to have a back up account anyway. I opened 2 whilst waiting for my iva. The intention was to use the first one that was set up! I now use the second one as a contingency account for the annual expenses like car insurance.
If you have a second one ready it won't be as much hassle if they do close your account.

Pixie

[cr15py]

I too have two current accounts, and two savings accounts. Sounds a little bit O.T.T., but they are all for my little savings/contingency pots, including one for Christmas/Birthday presents, one for a little holiday fund (courtesy of the Sun), and one for emergencies. So far, it is working!! [:)]

[Shining]

I don't think it's OTT cr15py, so long as it works for you. I've got two current accounts and one savings account along with the Bread Card, Natwest is my everyday account and if there is any spare I put it in Smile Account and the Bread card is for the absolute emergency £10-£20.

[Adam Davies]

Hi Vickir
I would get a second account lined up as I wouldn't trust what they say,not that the branch staff would close it but it may be a HO decision out of the branches hands.
Regards

[MelanieGiles]

HSBC seem to have a block policy to close peoples accounts who are in IVAs, so as Andy says it may be better to move on now if you can.