NationWide

[vito]

Hi

I have a FlexAccount with NationWide which includes a proper VISA debit card. If my IVA goes through can I still keep my NationWide account or will they request the closure of the account like FirstDirect?

Thanks,

[MrsKnight]

Hi Vito

Any account linked to your creditors in an IVA will unfortunately be closed down by the creditor in question.
And sometimes any money left in the account will be taken & put towards the debt.
You will need to open a new basic account with a bank that are not linked with your creditors.
Some of the forum recommend Co-op, Yorkshire Bank & I believe some posters are with Abbey National.

Hope this helps along with your other post.

[debbie.s]

We were allowed to keep our bank account and visa debit card as we had no debt with our bank.

[Shining]

It doesn't have to be a basic account, if your credit rating is ok at the minute you can ask for a full account just not take any overdraft. I have a full Smile account which I only use for writing cheques but my Natwest Step Account is a basic account.

[kallis3]

I have a Cashpoint account with Nationwide from prior to the IVA and that is still running ok.

We do still have our Barclays account running, even though Barclaycard were one of my creditors.

Only HSBC and First Direct are known to close accounts down, regardless of whether you are in debt to them or not.

[Mark.by]

Does anyone know who Halifax and Lloyds are linked with ???
Was thinking of trying for a Nationwide accoun before starting down the IVA route..

[kallis3]

Halifax and Lloyds are linked together I think.

Nationwide are not affiliated to any other bank so if you can open an account with them then do so.

[Mrs Pish]

Here is a useful link to who is affiliated with who vito.

http://www.cashquestions.com/is-your-cash-safe.html

I have a full Flex account and debit card with Nationwide. We opened it when our credit rating was still fine and have had no problems. We refused the overdraft facility and that was that.

[Mrs Pish]

Sorry, it was Mark who requested the links!

[Mark.by]

Great, thanks for the pointers... Will try Nationwide and see what happens .....

[kallis3]

I have no problems with Nationwide, but if you can open a full account with anyone prior to IVA (excluding HSBC and 1st Direct) then go for it.

[Skippy]

I'm with Nationwide as well and I'm quite happy with them.

[gbenno]

I've just opened an account with Nationwide as a large amount of myy debt is with the HBOS group (Intelligent Finance card, Halifax card, Halifax loan) and my current account is with Intelligent Finance.

I chose Nationwide as my best mate has been with them for years and they're also not linked with anyone else. I've received my debit card and am awaiting the online banking info and PIN before moving my salary and other direct debits to Nationwide.

[kazzafunk]

Don'y delay in moving your salary across. The minute your old bank account get wind of an IVA, they could seize the funds towards any unpaid bills with them.

[kallis3]

Quite agree - do it as soon as possible!

I love Nationwides online banking!