It seems a few posters on here have had problems with new bank accounts - I have to say mine couldnt have gone more smoothly with the Abbey. I applied online for the basic account (with NO OVERDRAFT), which provides online banking, electron card etc. It was processed within a couple of days and my card and PIN no. followed shortly after. I then registered for online banking just before I got paid, then once my salary had gone in to my old Natwest account I transferred it all to my new Abbey account online, just leaving enough in to cover the direct debits that were due within the next 10 days. I transferred all the other direct debits, then as the earlier ones were paid from the Natwest account, I called the companies, transferred the details for the December payments, and cancelled them one by one. It has all been painless, and I now have a bank account that for the first time since I can remember is in credit, and all my DDs are set up an ready to go for December, and all without having to leave the house.
Hi up to my neck. Some people have problems when they have a lot of creditors who are tied with more than a couple of banks. Also I think its just a bit of a panic when you need an account like yesterday and noone can see you when you decide to sort it. You worry the bank is going to take your money for loans and leave you with nothing. So its a worry for some and its hard telling banks your in trouble when you desperately need their help.
I was wondering what that meant at the bottom of your posts. I think one word means for everyone, no matter what but I dont know about the rest of it.
Maybe that was why mine was quite straightforward, I have lots of lovely creditors, but none of them linked to Abbey.
No sibi sed omnibus is my old school motto in Liverpool, and means "not just for oneself, but for everyone" which I think applies very much to the people who post on this forum, who despite their own problems will do what they can to help others, which is what I will try to do as I begin the IVA journey. It seemed quite appropriate..[:)] and well done on your knowledge of Latin, most impressive!
Oh blimey its mrs neurotic here again! Sorry but please dont tell me that having gone through the stress of getting a new basic personal current account and business direct account with the Coop that they could be frozen with the IVA!!! agghghha!!! I - like you uptomy neck - have spent the last week cancelling and reinstating direct debits for the December payments and juggling those which are going out now. Have kept just enough money in Natwest to see these through but now we have our new accounts all set up we have arranged for payments owing to the business to be made into the new business account so that by the end of the week we'll be working from bank accounts in credit!! Woo Hoo!! But now as usual I'm being sent into orbit with fear that they could be frozen because of the IVA - please somebody tell me this wont be the case. Surely if we are trying to run a business and have money to pay into an IVA they wont freeze a business account that is working in credit?????? Heelllpppp!
Still gathering info....but hope to be on the right path pronto!!
I really don't think you'll have a problem with the Co-op. I have 2 Cashminder accounts with them that I opened post BR, and I've seen a lot of people on here and on the BR forum who've opened them prior to BR and the account hasn't been frozen.
When I went into my IVA I didn't tell Lloyds (my bank at the time) about the IVA - they weren't one of my creditors so there was no need to. As far as I know the only banks who actively check the Insolvency Register are First Direct and HSBC.
It didnt even occur to me that this could be an issue! I opened my Abbey account a couple of weeks ago, my IVA is still at the proposal stage, the account is in credit and I have no outstanding credit with them, so are you saying that once I have applied for an IVA they could make a random search of the register and freeze it Skip?
I suppose they could, but I really don't think they would do that. I haven't heard of anyone having their account closed because of an IVA unless they were with HSBC or First Direct.
Hey dont worry, like Skip has said you will be fine. I told the cooperative bank of my debts and thats why I needed a new basic account and they said it was fine. I know, again like Skip has said that First direct/HSBC have been known to close accounts when they find out, they do give 30 days notice. I have been a member here for two years and have never known a bank account to be frozen in an IVA.
Good luck and stop worrying (easier said than done, I know).
xxx