New bank Account

[irish_ram]

Hi all,

My 1st post on here, aand am hoping I can get some help.

My basic situation is, I am part of an IVA since Nov 1st 2007 with Money, Debt and Credit. As the terms of the IVA, i had to close down my bank Account as had an Overdraught with it. I am using my GF account to pay wages into at the moment but want to get my own Account for several Reasons.

As it stands I have applied to the Co-op and also natiionwide and both refused me on terms that I have an IVA I believe.

I have looked at a link on here which lists all basic Account with different banks, and having crossed off the ones that I have bad debt with and also the ones that have already refused, i have been left with the list below. i am just wondering, out of these, which ones are lilely to maybe accept me, and which one will say no, so i can cross them off the list before wasting time applying to them.

Abbey national - Basic Account
Alliance and Leicester - Basic Cash Account
Bank of Scotland - Easycash
Barclays - Cash Card Account - Awaiting Callback
Clydesdale - Readycash
Yorkshire Bank - Readycash
Natwest - Step Account

Also, it seems as a worst case scenario, i have heard about the Think Account, which charges £25 setup and then £12 a month, which i am only willing to do as a last resort. Also, if I do this one, is it a normal Bank Account that everyone will recognise as in, checking my Credit Report, getting a Payday loan as I am looing at doing that till next payday as just moved home and have a few bills

Any help on these would be great, cheers in advance

[Skippy]

Hi Irish Ram and welcome to the forum.

When you applied to the Co-op did you apply for a full current account or for the Cashminder account? If you didn't apply for the Cashminder account it would be worth phoning them to apply for that account (you can't apply online). The only reason I know that you would be turned down for a Cashminder account is if you are not on the electoral register.

[irish_ram]

Cheers Skippy13,

I applied for a Cashminder account and told them about my IVA so they knew why i wanted that one but got refused, didnt tell me why and have to write to them.

I have only moved Address about a week ago and not registered on Electoral role at new address, and am not sure if I was registered at old address, sorry to be stupid but is there a way of checking quickly?

[Skippy]

You can go to your local council offices and ask to look at the electoral register.

Have you notified the council of your change of address? When I moved last year I had to fill in a form and return it to them so that they could amend the electoral register. I'm not sure how long it takes, but I don't think it's instant.

If you applied for the Cashminder at your new address, but were on the electoral register at your old address that would most likely be the reason that you were turned down for the account.

[freelili]

Hi

I was refused by Lloyds and Barclays at first, I had recently moved and none of my identification was a match at this address. I had to change everything over to here and then I was accepted by lloyds tsb and coop, I didnt bother with barclays. I am sure that barclays are one of the banks that accept people in insolvency procedures, the coop being the other.

Good luck

[Skippy]

Lily is right (as usual!) - the Co-op and Barclays both accept people who are BR, so an IVA shouldn't be a problem

[irish_ram]

Cheers Skippy13,

I have had a Council tax bill off council for previous Property and in my name, so I presume i would be on Electoral Register with them, I need to ring them to change Address details, so I presume once I do that, they will add me onto Electoral Register for that address then, do you know how long it takes by any chance?

[Skippy]

Sorry, I don't know. If you give them a call they should be able to tell you.

[irish_ram]

I am going to ring Council today and get address changed and also get registered on the Electoral Role at that Address.

So, I may hold off on applying for other banks until I have changed my Address and registered on Electoral Role.

As there are a few banks I have narrowed down, dont obviously want to apply to all of them, but on the other hand, dont want to pick ones that i have no chance and wait 7 days and then get rejected if you know what I mean

[irish_ram]

Right, spoke to Council and they are sending a Form out to register.

While i wait for that, does anyone know on here where i can get more info on a Think Account in case i cant get a basic Account?

[Viki.W]

http://www.thinkbanking.co.uk/ [:)]X

[plasticdaft]

Right, spoke to Council and they are sending a Form out to register.

While i wait for that, does anyone know on here where i can get more info on a Think Account in case i cant get a basic Account?

An IVA will not prevent you from opening up a cashminder account with the co op. Why pay think for something you can have for free,given that during an iva every penny counts!!!

[irish_ram]

Cheers plasticdaft,

I am going to ait for this Form to come out to register on Electoral, although, ther is a site you can do it online, so gonna see if thats quicker. I just need to decide which is the better bank account to go with then

[kabby3]

Heh dont know if you have considered a prepaid credit card??

[irish_ram]

Cheers kabby3,

I have indeed and also have one, a Tuxedo card, not used it yet, was sent to me from my IVA people. In terms of my Wages and Debits, I use my GF account and is fine for that, only problem is, apart from the IVA I am paying for at the moment, my finances are quite ok, but I feel like I want to have a Bank Account in my name, I know it sounds stupid, but just trying to get my finances back in order and this is one thing I want as so much easier than using GF all the time if you know what I mean