opening a new bank account

[gdp]

Hi,

I need to open a new bank account because I have started an IVA program. Can you tell me who are the best Bank to go with. I have been told a i have to have a basic account, but it is important i can have a bank card that i can use in stores/online as well as cash machines. The only one i can find is Yorkshire Bank that offer the Dual Maestro facility on their most basic account. Is there any others you can recommend to me.

[kallis3]

You could try the Co-op or Nationwide. Can't say that they will give you a switch card though.

Why is is so important? I manage with a cash card and cash. You could also get a prepaid card and use that for shopping.

[gdp]

Thanks Jan,

I really like the Idea of the pre-paid credit card. I never knew about those until visiting this site today. You see I have a pretty good job and Im often required to travel with it. So it simply wouldn't be easy to pay for things with cash all the time. Hotels etc.
The pre-paid credit card could solve that.
I guess I am still fairly new to the IVA (5 months) and the thought of not being able to use my switch card seems daunting. I am not a spendaholic honestly, things like buying petrol and food just always go on the old debit card.

I guess a bit of rethinking is needed from me, but I may as well apply for an account with a debit card facilty.

Thanks x

[kallis3]

There's nothing to stop you from trying, they can only say no. I believe some people on here have Visa Electron cards with their accounts, don't know if that would be ok.

With the prepaid cards, I would check them all out carefully. There is a link on the right hand side of this page which has reviews on them.

Some of them can't be used for things like car hire or hotels, which is why I say check them out carefully first.

[Viki.W]

Hey gdp, welcome to the forum, are you in an IVA already? If you're not and your credit rating isn't bad yet, you may be able to have a debit card, no problem, I did. X

[gdp]

Hi,

Yes been in an IVA for about 5 months but had the dreaded call from First Direct today suspending my account. They were actually quite nice about it really! ha ha

I think i will try Yorkshire bank first. Going to take monday off work to SORT MY LIFE OUT!!!

oh dear...

[V]

[Viki.W]

First Direct....what are they like eh?! Hope you get it sorted. Let us know how you get on. X

[gdp]

I actually really like the customer service with First Direct so am dissapointed i have to leave. It was my fault for not understanding the type of account i needed to have (ie basic). I opened my First Direct account when i started my IVA so it has taken until now for them to realise. I've heard HSBC are also clamping down on their bankers now too.

[Viki.W]

Well someone on here once told me (after I opened an HSBC account!) that HSBC and First Direct have people who scour the insolvency register and if you're on it they give you notice and close your account, whether you have debts with them or not. I'm not sure how true that is now. X

[Jan01]

Hi gdp
I was with first Direct and they closed my account suddenly at the beginning of the year. The only account I could get was with HSBC (Co-op and Nationwide were creditors) I know what you mean about a debit card I missed it a lot at the beginning but find using cash better for me I do have a Tuxedo pre paid card now which is ok and solves the problem about getting access to cash. I transfer my petrol money and some other money on to the Tuxedo card and use that. Had a slight problem with transferring money from my account to the Tuxedo account but the problem has been quickly sorted.

Hope you get sorted soon

Jan

[kallis3]

I'm surprised you managed to get an account with HSBC Jan, they normally close the accounts of people in IVA's.

[Jan01]

After reading reports on the forum I am surprised that they allowed us to open an account. I took in all my IVA paperwork with me so they do know. I have once been overdrawn (my fault I forgot Council Tax payment was due once again) and they sent a letter telling me off but did not charge me. I have been careful ever since and kept a closer eye on things. But so far so good. The only real down side is that I can only draw cash out at HSBC cash machines. But now I have a Tuxedo card that isn't too much of a problem now.

Jan

[gdp]

Hi guys,

I'm going to visit Lloyds TSB & Yorkshire Bank this morning.

YB is favourable because you get the Meastro card, online banking (everything i'm used to) etc. Yet Lloyds TSB get good reviews on here. Seem to be growing as a bank (HBOS buy out) and could be a good bank to be with after I come out of my IVA. I have also read here that they can offer a visa debit card on their basic account.

I will report my findings and news here later.

[Skippy]

If things haven't changed, you'll only be able to get money out of a Lloyds cashpoint with their basic account debit card.

[bridget jones]

Hi, i went to TSB they were fantastic with me and opened the account wihtin about 5 mins and gave me the account numbers for my work records. they did not need ID as they 'electronicly identified me'!!?? i asked for a basic account. The card and all the details came through within a week! all ready to go

firstly i went to Abbey who kept me waiting half an hour and said because i did not have a drivingm licence or a passport they couldn't help me!! grrrrr i would recommend Lloyds to you.
lis
x