I can find nothing on the internet and the other thread never identified anyone being forced to close their accounts. Has something new been announced?
Yes I know that!!
But surely that would mean they would have to check every single current customer to see if they are on the insolvency register? Because let's face it LLYODS bank are not a bank to approve bank accounts to new people who are in iva's & they certainly do not keep on customers who have entered into an iva & who owe money to them who are banking with them.
We switched from LLYODS to another bank well before our iva went through: but my understanding of this is that say for example our our new bank decided to " iva" check all their current customers, we would effectively have our bank account withdrawn from us ?
How can it be right for them to do this? Like I say LLOYDS are SHARKS ,cornering & circling round their prey....
IVA COMPLETED & CLEAN CREDIT FILE.
An old bible proverb says this: the rich one rules the poor, and the borrower is a slave to the lender.
Some banks are happy to keep on IVA customers, at least for a basic account -- others, as we are finding out, are not.
It is a relatively simple matter for them to use computers to trawl customers against the IR and flag up miscreants.
As for the morality ... the bottom line is that they can decided their own criteria as to who they will accept as customers. However, in my mind, it is sheer hypocrisy to exclude those of us with financial difficulties --- the banks themselves have been bailed out big time. Pot calling the kettle black methinks!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I think the consensus was that if you are going for the 'Cashminder' account you are OK (still best to apply pre-IVA I suppose). It is only customers like me with their 'Current Account' that may be at risk. Even then, I doubt they will do anything unless I abuse the account in any way.
With regards to the Insolvency Register: I recall reading a forum post somewhere in which the IVA customer was told by his bank that the Insolvency Service had notified them of his IVA.
I appreciate that that is hearsay, but: Does anyone know if this is true? If so, the banks clearly don't need to trawl anything.
My opinions are just that: Based on my experience and being a self-employed IVA customer.
About the Co-Op, I opened a Co-Op Cashminder account around two weeks ago. I did it in the branch with the manager who I told I will be entering an IVA very soon. She said they did not care about the IVA & my account is now up & running with my direct debits changed over. I recommend the Cashminder, was quite an easy process to open.
Last edited by Credit-King on Thu Jan 30, 2014 1:25 pm, edited 1 time in total.
Yes but! How do the insolvency service know who you bank with? Surely that would mean they would have to check your credit file to find out that information? & if that was the case they'd have to gain our permission to do that.
Oh & sorry what I mean by co-operative bank is to get a buch people who are in an iva ( or bankrupt) to form their own " co-operative" bank. (In an ideal world!)
IVA COMPLETED & CLEAN CREDIT FILE.
An old bible proverb says this: the rich one rules the poor, and the borrower is a slave to the lender.
